Why European Man Must Care
I’ve note here and here how most people, most of the time, are perfectly content to live under a totalitarian system, being told what to do, what to say, what not to say, burdened, at best, with a system of indentured servitude. A “modern” economy rides on the back of debt serfs. The Masters — both government and bankers — own us.
We play the collective Ponzi scheme trusting blindly that greater fools will buy our house at a greater price, thus rolling over our debt and giving us some shekels to play with, 
perhaps in retirement.
This works as long as housing prices are eternally inflated. As soon at they stop inflating, the prices collapse and the house of cards falls flat. The collapse of the housing market is prevented by low interests rates, ever lower down-payments, and an increasing supply of debt serfs (mass immigration). The debt serfs support this system because they believe that the prices of homes will eternally go up, making them less impoverished than there were before. …
