February 13th, 2008 by Johnny Cashflow
In summary the video posted here will show youÂ thatÂ a group of G7 leaders recently met in Tokyo to discuss the world economy.Â They state that theÂ Global economy could get worse and is mainly the cause of the crumbling US housing market.Â Presently the losses of the banks amount to approximately 100 Billion dollars in relation to this housing market down-slide.Â That is a lot of money!Â The G7 leaders were comprised of finance ministers from Japan, United States, Canada, Italy, Britain, Germany and France (for those who did not knowÂ what G7 is?) from which the Japanese and French leaders stated that they were not concerned about their regions as the fundamentals remained firm for the economical conditions in Japan and France.Â I would love to know why Japan and France are standing firm on their fundamentals and what is anticipated for their future economic conditions if the US market tumbles futher downward.
I am not sure how to take the comments made on this video and how to prepare ourselves for what is yet to come all because of the housing market debacle that was mainly generated from capitalistic greed.Â In many an instance I was privy to dealings with Real Estate Brokers who were selling overpriced homes to under qualified buyers.Â Â So the Brokers got rich on these innocent victims who only wanted to fulfil the american dream of buying a house in America and so did the banks by charging outlandish fees.
At the end of day we all will have to pay…
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This entry was posted on Wednesday, February 13th, 2008 at 2:53 am and is filed under Financial Markets, Real Estate, World. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.