Greenspan: US will experience a "political crisis" soon. (illegal, Miami)

[Serious Conversation]

He says so largely because we drift from crisis to crisis due to inaction and gridlock. I think it's possible, but not sure how likely.

BBC Radio 4 - World at One, 09/02/2015, Alan Greenspan: "I'm afraid (the US is) going to run into some form of political crisis"

[ContrarianEcon]

Yes we are going to have one soon. The big question is what kind and over what and what to do about it.

[BentBow]

When the establishment Progressives, lose all control.

[middle-aged mom]

No matter who sat the oval or held the majority, the cans have and continue to be kicked into the future.

[ContrarianEcon]

Originally Posted by middle-aged mom

No matter who sat the oval or held the majority, the cans have and continue to be kicked into the future.

Debt, more consumption today for less consumption tomorrow. Well with credit card debt coming down I'd say tomorrow is finally here.

[middle-aged mom]

Originally Posted by ContrarianEcon

Yes we are going to have one soon. The big question is what kind and over what and what to do about it.

- Another unfunded war or two that burns on average $ 1 Trillion a year, when one includes interest on debt and veteran costs?

[ContrarianEcon]

Originally Posted by middle-aged mom

- Another unfunded war or two that burns on average $ 1 Trillion a year, when one includes interest on debt and veteran costs?

Very possibly. or the re-blown housing bubble could pop. Or the stock bubble could pop. or the oil bubble could pop, or all of the above at the same time.

[arjay57]

Greenspan has been right about so many things.

[jmking]

Originally Posted by arjay57

Greenspan has been right about so many things.

And wrong also. He did not see the huge crisis that was right before his eyes in 2007, a matter of fact he stated every thing was just dandy. His ass can take a hike.

[middle-aged mom]

Originally Posted by ContrarianEcon

Very possibly. or the re-blown housing bubble could pop. Or the stock bubble could pop. or the oil bubble could pop, or all of the above at the same time.

Housing bubble?

Most of the country is nowhere near having recovered from the last bubble. No shortage of people still upside down on their mortgages. The plus side of this is that there's not a whole lot of paper equity to be extracted via second/ third mortgages to be used to live beyond one's means.

All real estate is local, down to the zip code, neighborhood, street andso métier even building as it relates to condos.

Most of Manhattan, parts of Miami and the West Coast have recovered and accelerated. Wealthy foreigners are using Prime US real estate as safe deposit boxes, sometime money laundering. They pay cash in corporate or trust names, pay their taxes/ assessments and have no intent on occupying the property.



Nothing illegal about it.