Keiser Report No. 12: Markets! Finance! Scandal!

[maxkeiser]

Run time: 26:49 https://www.youtube.com/watch?v=NpVgkRuq2mc   Posted on YouTube: January 28, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: January 29, 2010 By DU Member: maxkeiser Views on DU: 681

 

[whyverne]

1. Great stuff as usual though most people don't want to hear it.

I was screaming about the land and housing bubble way before it crashed. But people want the price of their house to keep going up. Why should it? Does your house produce anything? Most land and property just sits there doing nothing. As it should. It's your place to go, the roof over your head. Why should you think you have to make money from it? That's generational theft. You want the next generation to pay more than you did for a house.

Limbaugh is screaming that the Haitians don't produce anything. What about our land and houses? They doesn't produce anything. Maybe a little food in the best of circumstances. It's a scam, a Ponzi. Everybody, except the land brokers, would be better off if property values stayed fairly constant. If peoples income is increasing dramatically, fine; house prices can go up. I sold a house in the 90s that doubled in price in 5 years. Good for me? It's dumb. It's the greater fool system. Income didn't go up at all in that period.

Our capitalistic system is broke and is killing the middle class, drowning us in debt.

[liberalmike27]

2. Well, I want to hear it

And yea, I look at my house as a place to live, and I just rent anyway, sadly.

[Marblehead]

3. depressing

[Mithreal]

4. but it gives us some opportunity to prepare?

[Mithreal]

5. Thank you for posting these, maxkeiser.