No real estate is permanently valuable but the grave. Mark Twain
In a bet there is a fool and a thief. Proverb
If there is one Boondoggle that everybody knows about it’s the Real Estate Boondoggle. It’s in all the papers, on TV and internet bloggers blog away day and night on the real estate quagmire of a nightmare. Of course, for some folks it truly is up close and personal. Those who lost their homes because of economic misery and job losses have experienced profound suffering.
Aside from the fact that the real estate bubble was spawned by the federal government and the Banksters who own the government, there was massive mortgage fraud, massive appraisal fraud, massive mortgage backed securities fraud, massive regulatory fraud and massive amounts of cheap fiat money – all key ingredients in a recipe for a Bernie Madoff styled Ponzi scheme with Madoff being a bungling petty thief compared to the grand larceny of the government and Banksters that toppled the global economy. As the carnage piles up, the Bankster and government solution is to just wait it out and re-inflate an already ruptured balloon, something that defies the laws of gravity. It’s not going to happen.
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Judy Morris Report
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