We may think
that the next four months are fully booked for our attention, but out there the
world goes on and is full of nasty surprises.
At home too there are other matters, one being property that is coming
to be at the heart of so many problems.
This
longish article from the LSE is about "doom loops" in the way our
banking system and property market works, or rather does not work. The implications given a government in hock to
the banks and an economy increasing relying on the interaction between banks,
debt and property is scary.
The picture
above is taken from Zero Hedge, "A Photo Journey Through The Ghetto Of
East Baltimore" where 16,000 houses have been abandoned. There are many other urban areas in the USA
were the same can be found.
Could it
happen here?
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