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There are 2 parts of the USA housing market: low end part which is in decline and the high end part which is always dominated by foreigners and thus is always awash with money (almost always ill-gotten) and the luxury housing is giving us an illusion that the market is going up, no, it's just the opposite. Many wealthy individuals from Spain , Greece and Italy are now moving their money from Swiss bank accounts into real estate. For example, in the last 4 years, almost ALL super expensive real e More..sate in Miami or New York was purchased by people from abroad (Russians, Saudis) Less..
What a good show!
Recessios are designed to steal wealth from the have Littles.
@Canuke the rich 10% own already about 90% of the wealth. How much more do they want?
i kind of want to bang Stacey
WTF are these people?
It is more of a currency collapse than a bull market in precious metals and commodities.
Buy gold, silver... As well as 'lead & brass' and food.
Keiser looks like an evil comic book character
Prior to the 2008 crash I had a conversation with a friend in the banking industry about this very thing .....banks foreclosing and becoming land lords....interesting
yea at the time it just seemed so obviose....you know id see empty lots being re sold over and over for 10-20% more each time and i thought to my self...
where is the value?
wtf are the banks thinking?
then it dawned on me ......
RT, thus by nature I'm leaning to call bullshit. However, he does make some good points.
@dallenvt Owning an iPad and being able to buy chicken and chips doesn't make life better. In the past the middle classes owned property and their own businesses. These days that's becoming less and less.
@planesailing I think the so-called "boom" of the real estate in London or New York is mostly because of wealthy foreigners laundering their ill gotten assets by investing into real estate which drives all the other prices up - Russians, Saudis and others. There is a very interesting article on what and who actually drives these "booms"
@dallenvt Indeed, it's the same in London and has been for some time.
The price of silver will increase right up to the point where western governments outlaw its private ownership and then systematically steal it from private owners. The West is a full bore kleptocracy now.
normal people don't realize how much debt screws you over. if you have a mortgage, look at your schedule and see how much interest you'll pay over the life of a mortgage. same thing with a car. same thing with credit cards. you're all getting SCREWED
I know. That's why I am not in debt.
@Rhemis lol we're the lucky ones. now let's sit back and watch these fools incur insurmountable debt to their eyeballs and then work their whole lives to pay it back :P
I don't understand people. I have enough money saved in my savings to look for work if I get laid off. Most people are less than 6 months from bankruptcy if they lose their job today. I budget everything and still live comfortably.
@Rhemis lol i think you're high balling it. i doubt most people have enough savings to pay for more than 60-90 days if they were to lose their jobs. if that happens and they don't find work asap, they'll default their mortgage, have their vehicles repossessed and every other shitty thing that goes along with it. people are making rich people richer and neglecting on their future for a want of a better today. too many people are living beyond their means.
Step back and ask yourself "Why would banks collude to reduce the interest rate to about 0%?".
If everyone thinks silver is going up, then who is going to raise the price further by buying more? Don't they already own some? I think the top is in, or very close.
I agree that silver is a better investment than gold and will have a higher percentage increase. Silver is both money and a commodity that is used in industry so most of it has been used up over the last 60 years. Thus, there is more above ground gold than silver in the world today. And, I remember that silver was less than $5 not that many years ago. Its now over $30 and will easily go over $50 within several years.
I don't take investment advice from RT, just as I don't get my news from RT.
I hung in there even after his "pick a bale of cotton" opening, but I had to bail after 3 minutes...
I'd be impressed by anyone that can hang in there for the full 25:45.
@medainbramaged Well at least you admit you have the attention span of a yapping dog.
As soon as I saw RT I knew it was bullshit.
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