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This video has been posted just a couple of days ago. It features David Epstein, he is one a political science professor at Columbia University in New York.
In the video David starts straight away: The housing prices are going to plummet for maybe even 5 per cent! Keeping in mind the video I posted yesterday about Elisabeth Warren stating that the housing market is already going from bad to worse and that 10 to 12 million houses might have to be sold in foreclosure, I just do not want to think about how bad it could get!
According to David – who is an expert on bubbles in financial markets – we are creating another bubble.
Without the 24 billion of government money the markets would not have been where they are right now meaning the 60% rally we are on right now for the DJI has been bought and possibly is very unstable.
When the government started to bail out banks this was done from the idea that the bail-out would save the economy; however: the big banks are simply absorbing the money and are not continuing to lend.
“We’re not being saved”
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