24 March 2006

Rupturing the Housing Bubble

Some of the recent economic data emerging in the business press offer some explanation for why Uncle Sam has begun to ramp up the campaign to attack Iran and kill Persians as quickly as possible. Friday's Financial Times reports:
Sales of US new homes plunged 10 per cent in February, prices fell and the stock of unsold homes hit its highest level in 10 years, providing the clearest indication yet that the red-hot housing market may be cooling.

"Sales of new homes slid to 1.08m, the forth consecutive decline. The price of new homes fell 3 per cent from a year ago. With a flood of new properties coming onto the market, it would now take 6.3 months to clear the backlog at the current pace of sales. This is the highest level in 10 years."
If the housing market collapses like the dot-com market collapsed a few years ago, the entire debt-riddled economic infrastructure - on Sam's plantation but perhaps worldwide - could potentially fall like a tower of cards.

Faced with the pending crash of the housing market alongside a policy initiative undertaken by Iran to open up a new oil bourse and eliminate the viability of the Petro-Dollar would bring Uncle Sam's economy to its knees.

Unlike the arrogant racists in the media and blogosphere who relish the pending attack on Iran, wiser people, in Iran and throughout the world, know who really holds the cards.

And it explains why preventing this from happening has become priority #1 - allbeit a behind-the-scenes one - for Sam's ruling class managers.

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