The Phaserl


Western Real Estate Bubbles: History’s Greatest Wealth-Trap

by Jeff Nielson, Bullion Bulls Canada:

For the majority of Western populations; real estate is considered to be the ultimate “hard asset”, and thus the most-desirable financial shelter in times of economic peril/uncertainty. Ironically, it is precisely this attribute (and attitude) which makes real estate the ultimate wealth-trap – at the hands of unscrupulous bankers/governments.

First readers need to familiarize themselves with some of the economic dynamics associated with real estate. As a finite, hard asset (there is only so much usable land in the world), supply is limited. It is because of this limited supply that people trust real estate to preserve its value, and thus preserve their wealth. But the implicit assumption in this equation is that we have legitimate, properly functioning markets and economies.

As regular readers understand; nothing could be further from the truth. Our markets are literally nothing more than rigged casinos. Our economies are literally nothing more than (ridiculously unstable) Ponzi-schemes.

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