Aubie baltin biography of barack

WHAT'S THE REAL PROBLEM

As usual, we are concentrating on the effects while the real problem goes un-noticed.

While the world is speculating as to the end of the defaulting sub-prime mortgages and its resulting CREDIT CRUNCH, both of which are only EFFECTS, of the real problem of MASSIVE OVERCAPACITY and MASSIVE REAL ESTATE OVER BUILDING of both residential and commercial properties.

Concentrating on reducing interest rates (which caused the problem in the first place) will actually make matters worse; witness the last two rate cuts.

Aubie baltin biography of barack

And yet the clamor for rates cuts is turning into a crescendo.

HISTORY REPEATS

Every bubble has always been caused by excessively low Interest rates, out of thin air monetary creation and easy credit.

But this time around, an almost complete lack of any underwriting standards was added to the mix, thus allowing anyone and everybody to borrow any amount for any reason with no documentation required. The result was