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Originally Posted by JP-pornshooter
you are right and you are wrong.. the root of the problem is the housing market, dropping real estate values started the entire demise and it is still going strong.. the feds have been dancing around the issue and think that putting money in the hands of banks will make all good again, WRONG they must fix the real estate problem, either fed start buying homes or "force" banks to buy up real estate so that the values dont keep dropping.
real estate is like currency, if they start free falling government must intervene, and at this point just dropping interest rates is not enough since the banks will not release the funds.
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The root of the problem is the Fed debt based/fractional reserve MT banking itself and the derivative market. Not the Housing market. There are ten of trillions if not 100s of trillions of derivatives floating around that all blew up because of the housing downturn. They used the housing market as an excuse to pass the problem off on the general public. The reason the housing market blew up is because the prices grew too much faster than peoples earnings. More or less prices were greatly increasing and wages were not. As far as schiff is concerned you have to take your information from many places but those who are telling the truth about certain things that people don't want to accept they are ridiculed.