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Four years ago

Pre-Bailout

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Karl Denninger (2008)

Consumers fear the safety of their life savings at countries all across the country. The capital markets are being praised by blindly trusting politicians. The situation has deteriorated, and the professional gamblers are doing great. Soon next to nobody will be able to afford to buy a house.

As long as houses continue to go up in value (and incomes are declining) they don't want to see proof of ability to pay. They will get you on the hook, before and after they take your house, and you and your daughter will be living out of the trunk of your car.

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