Only six years ago the world's economy melt down that central banks of several countries bailed out the commercial and corporate banks because according to governments, they are 'too big to fail'.
Up till today no one has been concerned why we got ourselves into that mess. It appears that the guys in the banks are untouchable and no sooner we are back to business as usual - fat bonuses.
Vaguely the problem was traced to housing boom where people who were unable to afford mortgage were given even up to 100%. Little did anyone pay attention to the estate agents. It amuses me when they are called to value homes and they just step in look round briefly and just put outrageous figure on the house. There is no basis or scale for their figure they only say that is the market value.
We create these artificial values and it just gets higher and higher at a ridiculous and astronomical rate that I fear that one day it will crash because when things get higher and higher without control it has to crash and the crash is always great.
As someone has said, the higher you go the farther you will fall and that is the next stage of economy for which we are setting ourselves.
I write this because I am fearful for our children when and how will they be able to get to the ladder? Government's help will surely escalate the situation because it amounts to encouraging them to spend the money they don't have therefore putting them deeper into debt?
Are we learning at all? why can't we be sensible and become less greedy?
Up till today no one has been concerned why we got ourselves into that mess. It appears that the guys in the banks are untouchable and no sooner we are back to business as usual - fat bonuses.
Vaguely the problem was traced to housing boom where people who were unable to afford mortgage were given even up to 100%. Little did anyone pay attention to the estate agents. It amuses me when they are called to value homes and they just step in look round briefly and just put outrageous figure on the house. There is no basis or scale for their figure they only say that is the market value.
We create these artificial values and it just gets higher and higher at a ridiculous and astronomical rate that I fear that one day it will crash because when things get higher and higher without control it has to crash and the crash is always great.
As someone has said, the higher you go the farther you will fall and that is the next stage of economy for which we are setting ourselves.
I write this because I am fearful for our children when and how will they be able to get to the ladder? Government's help will surely escalate the situation because it amounts to encouraging them to spend the money they don't have therefore putting them deeper into debt?
Are we learning at all? why can't we be sensible and become less greedy?
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