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Originally Posted by Elphaba
The system is out of balance, because artificially low interest rates made it possible to buy artificially increasing home valuations.
Both the interest rates and the home valuations were being manipulated to jack up the insupportable rise of "liquidity" that a "home" is supposed to represent. Do you see how that could become a house of cards, but the builder believes one more card can be added? (Took that analogy to the limit).
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roachboy, this is a work in progress. I want to respond to you with Elphaba's post as a masthead.
My reaction to your attac/Tobin proposal is anecdotal. I don't disagree with your rationale for such a tax, and I am not opposed to it.
I think central banks act in concert, the gold sales of Uruguay and Norway, at the bottom of the gold price cycle, are a "tell". I'll continue.....