I’ve noticed a couple of things lately, not only in British media, but in Swedish as well. For some reason journalists are starting to wake up to our distressful and very ominous situation.
Lately there have been several articles questioning the reasoning behind the manmade global warming scam. They have even let a couple of professors and real scientists come forward and say it is a hoax, something that was hardly possible only a year ago. Thank Beelzebub for hackers and bloggers I would say.
In Sweden more and more voices are heard about the gigantean housing bubble forming. Although most within mainstream media still are hiding behind so called “experts” claiming any bubble-talk is nonsense, we do have seen a slight change the latest couple of months.
But maybe the biggest turn-around is when looking at the financial debacle forming. Suddenly you can hardly pick up the paper anymore without reading about oily Greeks in trouble, how Japan is throwing their 75 (or so) stimulus into the fire, and that there are still worrisome signs in the world economy.
Today we learn that Italy, Bulgaria and Spain are having problems and that Portugal gave the markets a slight hick-up the other day with their new rating.
Nothing of the things mentioned here is news for anyone following this blog. I knew about the economic crisis forming already 8 years ago and just as others with an understanding of 4th grade math, nothing of this is a surprise.
Actually, looking at the economy, it is very easy to understand why we have ended up here and why it can only get worse.
Today Sweden has the highest housing prices in the country’s history. In fact, during last year which (according to mainstream pundits) was the peak of the economic crisis, prices continued up.
Think about that for a moment. We’ve just gone through the worst crisis since the Great Depression (in reality still in it), unemployment is still very high, companies in general are showing bad numbers, the repo-man has never had so much to do and the big banks are in big trouble. Financial markets are shaky and we have a Justice Minister that wants to torture kids. In the mist of all this housing prices are rising and have reached an all time high.
Doesn’t seem right now does it?
And if that isn’t enough for you, take a look at renting versus buying a home. Now, this measurement is a bit messed up in Sweden because of all the regulations, the central planning and so on, but generally speaking housing prices should reflect on the renting market and vice versa. Even today with today’s ridiculously low interest rates and very cheap money available on the market, it is often cheaper to rent then to buy. If you count your mortgage costs, taxes, and include a buffer in case something goes wrong with your home you will come to the same cost or (in many cases) much higher cost of living if you’re the owner of your home rather than renting it.
What this tells us is that housing and real-estate prices are way overvalued. Extremely overpriced. If it isn’t cheaper to buy, why do it? Because people, idiots as they are, think that prices will continue up, and the central bank does everything it can to shuffle people into buying stuff. The more stuff you buy, the better.
And to all this we need to add the fact that we have loose lending practices. Not as horrid as in the US or Spain, but many have bought their homes with very little down. Some have been able to borrow a 100% (or even more!).
This cannot last, it is a mathematical impossibility. If it doesn’t crash by itself, it will do so when the countries in much deeper danger go under and brings us down with them.
And looking at Europe and the sickness of fiscal irresponsibility, it is also very easy to understand were this is going.
During last year all of them, every single one, borrowed and printed money to pay for their stimulus scams. Now, all of a sudden (yeah, big surprise…) they are all in need of cleaning house, save money and get their economies going at the same time as they need to cope with extremely high deficits.
I wrote a year ago that the worst thing they could do is to throw billions upon billions to keep their sandcastles standing. Because all that would do is increase deficits and fix nothing of the problems. They could, temporarily, scam markets or the public with cash-for-clunkers programs or ‘investments’ in “Green Technology”, but when that money runs out I said they would be standing there with the same problems as before but now with even more debt and a deeper hole to dig themselves out of.
Well, guess what, most of those programs and scams are now out of money or about to reach their end of the line. The deficits are massive and higher then before and nothing has changed.
Unt now desperation is starting to creep into our masters.
Just look at Greece. They haven’t even started doing what is necessary and have hardly saved a penny yet; they need to do ten, twenty times more to reach reasonable numbers. And what happened with their minor effort? Riots, massive demonstrations, strikes all over and even bloodshed. Just imagine what will happen when they, as well as Spain, Italy and all the rest really, actually, and factually start to do what is absolutely necessary to do.
This will not be pretty.
And they know it. Why do you think they are doing everything they can to convince us about the ‘green shoots’ and why they are filling the news with the “all will be fine” –crap?
Apparently we’re going to see a bail-out of Greece in the near future. It seems that our European puppet masters are about to circumvent their own rules and break treaties just to save the irresponsible and idiotic Greeks.
Once they start down this path, there’s no turning back. They cannot throw billions at Greece but not at Italy, they cannot bail-out one failing Euro-country and not another. This will end the Euro.
Sure they are saying that IMF will step in. Ever wondered who pays for the IMF scams? Both Germany and the UK did throw in some extra billions into IMF last year, seemed unnecessary back then, but maybe they saw this coming eh?
We’re heading for a fall folks, a big one. How long, and how severe it will be is up to you. We cannot stop the depression, it is already here and it will continue many years into the future. Nothing can change that now. But if you start to listen to those saying and arguing the truth, maybe we can recover and maybe we can see to it that it never happens again.
Furthermore, I think Beatrice Ask must resign.
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