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I ordered a book from my library called `Empire of Debt`.The first part is pretty much an account of historical economics but the last part blow my socks off.It talks about the way that debt has become the norm in modern American society.Refers to thrift as a mental disorder-lol!

Much that is written supports the bears on HPC.It talks in depth of what is happening in the US housing market.

If any one is interested its authors are Bonner and Wiggin.

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I ordered a book from my library called `Empire of Debt`.The first part is pretty much an account of historical economics but the last part blow my socks off.It talks about the way that debt has become the norm in modern American society.Refers to thrift as a mental disorder-lol!

Much that is written supports the bears on HPC.It talks in depth of what is happening in the US housing market.

If any one is interested its authors are Bonner and Wiggin.

20 years ago American's were admired for thier thrifty living, they saved and invested, attributes that drive real economic growth.

Now they're all in debt up to the eyballs to the Chinese.

It will come to a sticky end, it always does.

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A report last week said the US had 11.1 Trillion Dollars of household/personal debt. IN the UK we have 1.2 Trillion POUNDS. The US population is about 300 million or 6 X that of the UK. We and the US have about the same level of debt and it is going to have to be paid for by MUCH higher IR as part of fiscal dicipline--or hyper inflation will ensue.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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