The Worst of Times?

Andy Sutton

There has never been such a dichotomy in terms of the information being provided by governments, banks and media outlets. When they want to embark upon or continue absurd policies, they say the world is ending. However, when they want to goose markets or get re-elected, a robust economic recovery is in place.

This probably isn’t the worst time to buy a house in the US, but it’s a terrible time to mortgage a property despite all-time low interest rates. In time, those rates will rise; homeowners can forget about refinancing in a few years to get some cash and/or a lower payment. Low rates are part of the enticement and the trap.

Another drag on the housing market is the baby boomers, who will be selling their homes in droves prior to moving in with the kids or to assisted living facilities.

“All of the palliatives to reinvigorate the housing market are… nothing more than another ramp job to con people into taking on more debt. To make you more of a slave tomorrow than you are today. The mechanism is already in motion for the banks to come out of this owning every single piece of mortgaged property in America. And what they don’t get, we’ll end up conveying to the Chinese or another creditor as a partial settlement for the trillions of external debt. It is already happening.”

As for sequestration, the US government is simply much too big. Greece has been destroyed; its government is drowning in debt, its government is impotent, yet all the while the world’s banks continue to lend to it, knowing full well that those loans will never be paid back.

“…what most Americans fail to understand is the very real impact that the irresponsibility of the past half-century has already had on all of us. We’ve been sold a bill of goods that inflation is necessary for economic growth. Well, we’ve had a hundred years of inflation courtesy of the not-so-USFed. We’ve had a hundred years of debt accumulation, much of it by our own hands. If this nation had any real sense of its history, we’d know that despite all the technology and other advances we were much better off a hundred years ago than we are today. We certainly had more freedom.”

source: gold-eagle