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 The Panic Will Start With Property

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RR Phantom

RR Phantom

Location : Wasted Space
Job/hobbies : Cayman Islands Actuary

The Panic Will Start With Property Vide
PostSubject: The Panic Will Start With Property   The Panic Will Start With Property Icon_minitimeTue Jul 05, 2016 8:29 pm
The situation is grave. That’s why I don’t say this light-heartedly, but I think it should be said nevertheless.

The Panic Will Start With Property 3212647467_1b2f43d37e_b-1

George Soros made it clear in “The Alchemy of Finance” (1987) that the debt situation had already become quite unsustainable after 1982, and has been sustained only by a symbiosis of governments, central banks and commercial lenders, acting in a balance-of-fear type of environment. The banking system has been on the brink of collapse since then.

Finding this out must make one slightly depressed, looking at the mountain of debt we have managed to amass mostly after the 1980s. PWC measured UK total debt to be 500% of GDP in 2012, no soul has had the courage required to measure it since.

The problem lies mostly with the human tendency to avoid short-term pain. Any top politician, or central banker, who would come out now would most likely cause a crisis. And proving a counter-factual is very hard, as we know, so this person (or institution) would need to take an unbearable amount of blame. Many still blame the Fed for what happened in the 1930s! Sure, mistakes were made, but mistakes will always be made.

https://beforethecollapse.com/2016/06/27/the-panic-will-start-with-property/
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