Quote:
Originally Posted by xmas13
Debt is paper, worthless. It's just a promise.
Promise = lie.
A house of cards built on a mountain of lies. Will fall sooner or later anyway, if not during our lifetime, then later. You can't mortgage / borrow against finite resources indefinitely.
Real estate in the West is a gigantic ponzi just like retirement funds, insurance and banking.
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We were warned long ago
"Paper is poverty,... it is only the ghost of money, and not money itself." Thomas Jefferson
This looks much like the panic of 1907
https://youtube.com/watch?v=eBqwtRubyJM