Have anyone learned their lesson yet? The Wall Street Journal reported that the housing price in Asia is reaching a bubble again. It was less than two years ago the whole world was going into the most severe recession in recent history. Every central bank in the world was trying to pump money into the system. I do not know what the system is. Whatever the “system” is, it is now awash in cash. With ultra low interest rate, all the money is now going in gold, and real estate. How can one justify a condo is selling for US$55.6 million, or US$9200 per square foot?

The government tries to do good by pumping out money like there is no tomorrow. It never really helps the common people. It helps those who are not affected by the recession to speculate on borrowed money to make more money. In the end, the bubble will bust and those speculators will come back to the government again and ask for another bail out so they can bet again.

If easy credit is what make the world goes around, maybe the world has to stop for a while to recover back to sanity.