veritas
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Re:Fascinating buried fact about the "recession"... - 2008/07/26 03:58
It's been a convergence of the meeting of similar minds- George Bush, Tony Blair( and Gordon Brown) and to some extent, the just booted John Howard in Australia.
All 3 are guilty of the same thing-decimating industry and driving jobs overseas and convincing the general public that property investment is the way to go.
Thus the great general public became convinced that their rising "value" of their house was real wealth,when it's an illusion.
Subsequently-these 3 countries are all now going through the same drama-collapsing property values and all 3 have the highest personal debt via credit cards that should send shivers up every spine.
Meanwhile-the rest of Europe and Asia lives within it's means-as limited as they may be.
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