For all you bulls out there that think this is all overcooked, for all the property bulls that think property will survive and grow in the medium term read what the President of the United States of America said at the G20 summit today and try to take it in -
Bush says summit leaders agree to cooperate better
By TOM RAUM – 11 hours ago
WASHINGTON (AP) — President George W. Bush, closing an emergency economic summit, said Saturday that decisive action had been required in recent weeks to save the United States from possibly falling into "a depression greater than the Great Depression."
He raised the dire picture, in stronger terms than he had previously used, as he defended his administration's bailout of banks, investment companies, insurance firms and others.
"Those of you who have followed my career know that I'm a free-market person," Bush said.
He said it was therefore hard for him to take steps that intervened in that free market. But he suggested he had no choice because the outlook was so bleak.
Lest those actions be taken as a change of heart, he restated his principles in regard to fixing the problems of the global economy: