The price of artificial low interest
Well it seems we won't learn it.
It was the cheap credit which lead the the inflated prices of housing in every country now in trouble.
The low interest the states had to pay lead to astronomic budget holes. Because money does not cost much.
Instead of letting the interest raise, every problem was "solved" from the central banks to demand an even lower interest. And now it's clear in the countries with the lowest
interest (Switzerland, Germany) the prices for all kind of things are raising, but especially for housing and ground. So what can that be but another bubble.
So low interest have struk down the US, Greece, Ireland, Iceland, Portugal, Spain. And now we'll import low interest into countries still kind of workable. What can any one
expect. Well yes a bursting bubble. And here we go, now it's our turn to get busted.