Out at the peak

Tuesday, February 07, 2006

Great Britian and Australia: Crystal Ball

I'm surprised the phrase 'bankruptcy bubble' made the press. This is all due to people not being able to make their mortgage payments. This is Great Britian where they were one year ahead of the US housing bubble.

The popping of the Australian housing bubble is going to hurt people on the sidelines. Australia is now faced with a shortfall of property taxes. They have to cut programs in order to maintain a balanced budget.

One year from now, the US will be faced with these same issues and more. As a culture, America is prone to be unstable. Fear and greed seem to be magnified thanks to religious conservatives addicted to FoxNews.

posted by Out at the peak at 12:33 AM

3 Comments:

  • You are going to dismiss the psychology imposed on the general population by the media? Their influence is disgusting.

    Plus it was really late and I was rambling. I'm also a very sarcastic person, and it probably doesn't translate very well when attached to important issues. So I'm half joking.

    By Blogger Out at the peak, at 11:57 PM  

  • I'll remember to refrain from any political stance in the future.

    Any sort of run up/run down is a sign of herd mentality when the fundamentals don't make sense. The media can be a communication tool for the herd. Even blogs such as this can faciliate. That's one of the reasons why I put up a disclaimer.

    By Blogger Out at the peak, at 6:38 PM  

  • I do have the 80's Bubble article linked in my article section. However, I had it named something else before. It's correctly named now.

    The author put a lot of effort into that piece.

    By Blogger Out at the peak, at 12:43 AM  

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