Obama--"An economy built on a housing bubble" What happens when the bubble pops?

Straight from the President! Run for the hills!Obama--"An economy built on a housing bubble" What happens when the bubble pops?
THAT was precisely his point! He is suggesting that strategy is the reason for the housing collapse.
please don't ask him that. that's beyond his paygrade.Obama--"An economy built on a housing bubble" What happens when the bubble pops?
What happens is going on right now
When the bubble pops, it is due to the fact that you (working class) are unable to pay up to the rich the ever-increasing funding demands they mandate atop your head. Loans default, and the rich through their banks go into repossession mode, collecting back all the property they sold to you at a premium of usury some years ago. Then they hold the bargain-rate possessed properties on the shelf for a little while.



Cycling through and as you begin to get a little more meager savings in your working class account, they then open bank credit "for you" again. Then they sell you back the foreclosed property they bought at bargain, but sell it back to you again at premium, with usury level interest rates again.



It's a great gig. It ensures that all working class earnings are continually returned to the rich. The beauty is that the working class is far, far too dense to figure it out - even as it happens each 7-10 years.



It's all by long-repeated rich class design.



Have a nice day!Obama--"An economy built on a housing bubble" What happens when the bubble pops?
It's the other guys fault
Someone will blame that half white president!