Wednesday, Jul 25, 2007
Deep in the "other news" section, BBC hides the elephant in the US living room
BBC "News": Housing woes hit US share markets
The news from the US is bad and getting worse as the subprime issue moves beyond subprime and begins to affect the rest of the economy. Coming soon to a UK shore near you.
Posted by paul @ 08:45 AM (160 views) Add Comment
4 Comments
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1. harold said...
Expect to see central banks begin to restrict money supply leading to a depression, then they'll buy all the bust businesses and farms for pennies in the pound. The rich get richer… Great scam.
2. dohousescrashinthewoods said...
So presumably we should go all out and save what little we can so we can buy too?
In the nearer term, if there is to be a deflation, presumably selling assets is a good idea?
3. mrmickey said...
Problem is if the banking system is damaged enough people won't be able to borrow to buy property. I still think we will have hyper inflation first as governments try to print their way out of trouble followed by the deflation depression.
4. harold said...
mrmickey, the most important central bank is the FED - as I'm sure you know it is privately owned, the Federal government has no control whatsoever over the way it sets interest rates or creates inflation.