WSJ: "Federal Reserve System [Fed] Sugar High Housing Market" *Experts debate the strength of today's housing market AND The Entire Economy Is a Ponzi Scheme, The Global Financial System is Insolvent

Entire Economy ~Ponzi Scheme&Global Financial System ~Insolvent

.. Since 1970, our lower- and middle-income households are getting poorer; their wages are declining," said Sanders, who further claimed that as a nation we’re not really prospering, with the exception of the top 5% .. He adds that the growing population is coming in at lower and lower incomes. We’re not seeing the revival of the traditional American household recovery, Sanders said .. Kolko adds that for markets seeing very strong price growth, but weak job growth, it is safe to assume the growth is investor driven .. Mark Palim, director of economics at Fannie Mae, voiced his concerns on household formation, which is below trend due to the recession coupled with slow job growth .. Palim says the households that are forming are renters .. So will they eventually transition to homeownership?  mhopkins@housingwire.com
http://www.housingwire.com/news/2013/04/08/experts-debate-strength-todays-housing-market
 

Ponzinomics

Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky, the Wall Street Journal and many others say that our entire economy is a Ponzi scheme.

Former Reagan budget director David Stockton just agreed:

So did a top Russian con artist and mathematician.

Even the New York Times’ business page asked, “Was [the] whole economy a Ponzi scheme?”

In fact – as we’ve noted for 4 years (and here and here) – the banking system is entirely insolvent. And so are most countries. The whole notion of one country bailing out another country is a farce at this point. The whole system is insolvent.

“It’s voodoo economics,” Stiglitz said in an interview on Friday, before the weekend deal to help Spain and its banks was sealed. “It is not going to work and it’s not working.”

[The same is true of every other nation.]
Credit Suisse’s William Porter writes:

“Portugal cannot rescue Greece, Spain cannot rescue Portugal, Italy cannot rescue Spain (as is surely about to become all too abundantly clear), France cannot rescue Italy, but Germany can rescue France.” Or, the credit of the EFSF/ESM, if called upon to provide funds in large size, either calls upon the credit of Germany, or fails; i.e, it seems to us that it probably cannot fund to the extent needed to save the credit of one (and probably imminently two) countries that had hitherto been considered “too big so save” without joint and several guarantees.***

http://www.globalresearch.ca/the-entire-economy-is-a-ponzi-scheme-the-global-financial-system-is-insolvent/5331143