Time to execute Plan B?

Oh wait… there is no Plan B.

Oh Shitener! Oh Bukkake! Obama! Keep flogging that dead horse!

The reason is simple: If the government(s) admit that housing will never come back, there are consequences attached that will become clear, but for which nobody is prepared: millions of bankrupt citizens, thousands of bankrupt banks, pension funds, market funds etc, and hundreds of bankrupt governments, be they at municipal, state or national level. And for none of this all do we have a plan B. None.

[automatic earth]

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