Quote:
Originally Posted by william123
In the States, housing is also quite expensive, every bit as high as it was during the "bubble" several years ago, only now no one says we're in a housing bubble. Why that is, I don't know..
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Bankers and politicians lie shamelessly in an effort to maintain public confidence in the system; when people get scared and stop spending a recession ensues. Thus there are never any bubbles according to the elite.
As problems accumulate in the economy the lies get bigger; note that Janet Yellen recently said the banks are strong and we'll not see another financial crisis in our lifetime. If history is a guide that translates to 'we're about to enter another financial crisis'.