Tuesday, June 28, 2011

House price falls - IMF picks Lagarde

The latest on still falling house prices are here for the USA and here for the UK.

In a further sign that the West's economy is now clearly in almost terminal decline, with no politician or world leader of clout prepared to address the underlying problems, Mme Lagarde was appointed to head the IMF.

The silver lining in that fact, I guess, being that as a new start will soon be urgently needed in almost every international economic arrangement, the now certain increasing indebtedness and collapse of the IMF will in iteslf be no bad thing and could well speed on its way, the completely new start, towards sound money, that the western economic model so desperately needs.

Meantime in Europe, Cameron and Merkel, lead the way in extending the begging bowl to China, not much mention of human rights these days you may notice!

Underwater mortgage holders and unemployed, indebted graduates, the latter joining 82 others for every job opportunity, as is presently the situation in the UK, must soon show signs that their patience is reaching breaking point. For every home re-possession, how many other homeowners are struggling to make their monthly mortgage payments, with ever dwindling hope of ever recovering even their original deposit - that is the tinder box for the coming moment of truth!

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