It's Not Even Over and It's Starting Again!

The British government is dropping the ban on 100% mortgages.  Their rationale is that "banning higher-risk mortgages may be counterprouctive". We all remember how good 100% mortgages were for the Americans and the Icelanders.  Good to see the British have learned nothing from the previous economic recession.  And so the ecomonic practice of debt over savings starts again, at least for the British. Who will be next to follow them down the rabbit's hole?

GTB

 

Bjóða aftur 100% húsnæðislán

Athugasemdir

[Atli (IP-tala skráð) 13.7.2009 kl. 10:34]

Gregg,

This is the simple recipe of the IMF, the World Bank and the New Rulers of the World ;-) 

Please find very interesting material from the reporter Mr. John Pilger below which stipulates the simplicity of the recipe.

New rulers of the world, a Special Report by John Pilger

http://video.google.com/videoplay?docid=-7932485454526581006

http://en.wikipedia.org/wiki/The_New_Rulers_of_the_World

Cheers,

Atli