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Dr. Housing Bubble figures that the Fed and the banks
providing unlimited amounts of money to create the real estate bubble
(which I sarcastically note was created by the Fed and Congress to bail out the busted stock market bubble in 2000, which the Fed also provided the financing for)
has created US$5 trillion in “bubble wealth”.
Mogambo Guru 17/7 2007
He figures that the Fed and the banks providing unlimited amounts of money to create the real estate bubble (which I sarcastically note was created by the Fed and Congress to bail out the busted stock market bubble in 2000, which the Fed also provided the financing for) has created US$5 trillion in “bubble wealth”.
I keep reading how this is all okay with everybody because nobody understands derivatives!
The real, Sinclairian truth is that they understand it perfectly, as derivatives are very, very easy to understand;
these are all just bets that were created, bought and sold for one silly equation-related reason or another,
and the Federal Reserve created all the money to finance it.
Is that so hard to understand? Really?
The Mugambo Guru 7/2 2007