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Real estate market in the U.S. collapsed

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By : Trina Colon    99 or more times read
Few people ask themselves: stop, there was something else? Ah yes, the huge debt, but that's no problem because we do not have any more debt. And that alone is enough to celebrate it as a huge success. Never mind that we have paid off the existing debt until about 700 years ago, no word from the ailing social security systems, the impending collapse of the health insurance and the billions of subsidies to the pension fund ... No, it fits in nicely, the media want a summer fairy tale, and therefore, it is also propagated so - and without regards to reality. But that looks anything but a fairy tale. Here are four examples:

1st German bank rescue package will be extended

In 2008, the then red-black government a € 480 billion rescue package for heavy banks to "a serious disturbance in the German economy to fix the leak. It looked guarantees, equity injections and the adoption of risky securities by the State before. Now the EU Commission has extended the permit for the German bank rescue package by end of 2010. Why do that when everything is good?

2nd The fear of the bankruptcy of Greece returns

The cost to take out insurance against a failure of Greek bonds, have risen to a new record high. For a credit insurance (CDS) for the first time had higher amounts will be paid as early May. This puts them even after the Greece and Euro rescue packages on its peak. The yield on ten-year bonds rose to 10.4 percent. This is the level where they are in last before May 10 reached the day before the rescue package. The fear of many investors from the insolvency or a possible cut in capital is returned but why, if everything is good?

3rd The situation is for banks in Portugal having increased difficulties

Portugal's banks from becoming ever more dependent on the European Central Bank (EZB). The loan amount at the ECB doubled now on a monthly basis. According to Portuguese banks in May around €35.8 billion borrowed from the central bank because of the high debt of the country and the enormous distrust in the capital markets has hardly had any money on the interbank market but why is this so, if everything is good?

4th The property market in the U.S., collapsed

Sales of homes in the United States has collapsed in May by 32.7 percent. This is due to the expiry of a tax. One has such a strong drop it never happened before. This development indicates that the property market despite government support measures still wouldn’t stand on its own but why, if everything is good?

The answer is trivial: the supposed summer fairy remains what it is in the truest sense of the word - a fairy tale.
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