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Shame of Housing Boom Bust


Bernanke and his wealth destructive policies.

“Yes. Property prices in the south of the U.S. are very inexpensive compared to property prices around the world. The tragedy is that the people that were evicted from these homes have no access to credit. They have no money. They can’t buy them. So, with easy money by the Fed well-to-do people can buy these properties and then rent them out to the people that were kicked out of these homes. What a great achievement of the Fed. First they create the property bubble and destroy the wealth of poor people, then the poor people have to rent and the rents have been up over the last 12 months. What a great achievement. Thank you, Mr. Bernanke.”

- Marc Faber


Actually, entire series of boom and depressions are a form of transferring wealth. It is almost always the rich who take the advantages because they manipulate the system or are better informed.

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