Max Keiser: Side Effects of Cameron's Ponzi Scheme
Interesting discussion between Max and Stacy on the housing bubble taking off over in the UK these days. Also a discussion with economist out of Australia "Doss"
Keiser has a one liner about the current globalization of leverage being nothing more than a pogrom against the lower and middle classes.
Remarks between Keiser and Doss include Doss' witticism "The people who mind don't matter and the people who matter don't mind."
= new reply since forum marked as read
Decent job of explaining why we no longer have a middle class.
(Hint - if you as banker decide to leverage a society, as is being done in the UK with Cameron's housing mortgage scheme, and all the "paper wealth that creates, it is all paper wealth that will have value "tomorrow." Since the housing bubble" will most certainly crash before tomorrow comes, that wealth never has to be paid out, except to those foolish enough to sign the mortgage paperwork. And they will have their homes foreclosed and owned by the bank! But if instead your economic policy fosters liquid payments for real labor, you need to come up with the money to pay the labor force today. Less p0rofit for the banking class, so they have essentially made tht scheme of things a pleasant memory from the "good old days."
Very good video to watch in terms of understanding the economic plight of the 99%.
