Debt Rattle July 12 2015


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    DPC Up Sutter Street from Grant Avenue, San Francisco 1906 • China’s Real Problem Isn’t Stocks – It’s Real Estate! (Harry Dent) • Greece Crisis: Europ
    [See the full post at: Debt Rattle July 12 2015]

    John Day

    Maybe Greece can sue Germany for those 279 billions in WW2 reparations, and sue Goldman Sachs for the excessive $500 million fee to hide the Greek debt for a false-pretense entry into the Euro. Schauble and Draghi could snap at each other even more, and Draghi’s role would be further exposed.
    What is needed is for a “white knight” to inject some cash into Greek banks, just to keep this stringing out a bit longer. China? The Fed?


    I don’t think America is a good example to compare its amount of wealth in houses with China. I live in New Zealand and a large percentage of the older generation own their own homes. That percentage is likely to be different in all countries. The aim here has always been to be mortgage free once you retire which most people do here at 65. A lot of New Zealander’s wealth is in their home. Everybody here gets a state pension when they are 65 so that would influence many peoples’ decision. The Chinese willingness to save is different from ours and America’s. Every country is different and because of that its people’s decisions are different. While certainly a bubble in houses is not desirable that is a world wide phenomenon and not just peculiar to China. It is getting very mad here too. Personally I think it is caused by the free market mantra combined with the deregulation of the Banks who, it seems, will lend to anybody as long as they are not dead!

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