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The Masked Tulip

"american Economy Will Become More European"

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Economist Kenneth Rogoff considers the United States to be in the worst financial crisis since World War II – and believes that the economic policy in his native country could become more European during the next ten years. According to Rogoff the USA might soon place less value on growth and confront citizens with higher taxes.
For sure. I think there is still worse to come. First and foremost housing prices are still sinking. They probably have at least an additional ten or fifteen percent to fall. That's going to lead to more financial sector problems, to unemployment problems and more headwinds to consumption.
The US is facing its worst financial crisis since World War II, on top of a slowdown in economic growth and a sharp increase in inflation. The root of the problem is a housing price bubble. And there is also a bubble in consumption – US consumption is more than 70 percent of the Gross Domestic Product.


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I like many of your posts and often agree but who the hell is going to take banks over when they are all loaded up with loans that are going south.

My guess is the $USD has a lot further to fall and american will try to use it forces more and more to force oil prices up whilst ensuring oil is only traded in $ and that will bring trhem into conflict with Russia/China/India plus friends.

Rome also ended after it become too corupt.

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America is not alone in having had large property price increases.

In fact american increases are much lower than UK or French ones.

In its favour the USA has had a very large dollar decline at the same time as the house price increases.

Sure there are imbalances in the USA but as far as property goes its no different than many other western countries.

The ECB has had too low rates for years and years and created plenty of its own bubbles in support of anaemic growth. And now at a time when many parts of europe will soon need lower rates market forces may push rates higher - I wonder what Europe will look like then??

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Becoming more european means heavily taxed and dictated to by a small plutocratic elite.

They've been well on the way for a good number of years,and it's not going to happen without one hell of a fight.

...so can you guess what's coming??

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  • 401 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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