I would advise people to sell their house and start renting. You could rent a house of a housing corporation, if necessary. That way you can keep your costs down. An awful lot of people have taken out a 5-year mortgage. If the loan needs to be extended after 5 years, you don't know whether or not you can still get a loan. A lot of people are going to get into trouble. The first problem is whether or not the borrower can get any credit at all, and second, assuming that credit is available, you're going to be paying much higher interest.

Some believe that the government could make use of the interest rate weapon - the prime rate - which is the interest rate that central banks demand from the banking sector. You can lower this interest rate, but you can't lower the market interest rate because that gets determined in the open market itself.

If you want to take out a mortgage after 5 years, then the interest rate is very likely going to be between 10 and 12%.

- That again is going to cause more problems because people are going to revolt. The government has to act as savior; we're already seeing this in America . The Federal Reserve is going to buy up houses there. The mortgage lender Fannie Mae is sitting on a huge amount of these houses and they are losing an enormous amount of money. They've asked the Federal Reserve to figure out a solution for this. The Federal Reserve is considering buying these houses. It may sound strange, but the Federal Reserve is going into the rental business.

I see an enormous collapse of the housing market. It's going to lose 50 to 60% percent of its value between 2010 and 2016. The stock market might hold steady but will probably suffer a substantial drop in value. I think a whole lot of companies are going to go under, especially companies that are deep in debt. Real estate firms, construction firms, they're going under.

Unemployment will rise tremendously. In The Netherlands we'll end up with well above a million unemployed workers [on a population of 16 million people]. Like I already explained, people have salary expectations that are not going to be met. Companies will further automate or will be downsized , as we so nicely like to put it. Or production will be shifted to China. Those are the types of sticks that they have sitting behind the door.

I think there are a few banks that are going to collapse. Here in The Netherlands too, what with our being so heavily involved in the credit sector. I don't want to name any names, but I know of some banks here that have invested a lot in derivatives and are also heavily invested in the sub-prime market.

We're going to see this with businesses as well; in the best case scenario their incomes will flatline. There will be downsizing, there will be more unemployment, manufacturing will be shifted overseas. So you can forget about a raise. Your expenses will go up at the same time that your assets are shrinking. Two things will be out of the question for the average person: One, salary increase, and the other, the building up of assets. You won't be able to get credit anymore. If your mortgage expires after 5 years then you'll have to come up with the money.

In order to see what can happen in a crisis situation we have only to look at what happened in Argentina. People went from being middle class one day to finding themselves below the poverty line the next.

The plan to flood the Wieringermeer Polder is of course absurd. We're really going to need that land to provide for our food supply. Those sorts of projects were initiated back in the 90's when things were still going great. Now we find ourselves in another situation in which we really can't afford to do these kinds of things.

Now we're seeing this again. We have a government that is extremely uncompromising and insensitive to privacy issues. This is going to manifest itself more and more as time goes on. The worse the economy gets, the more the government is going to invade our privacy.

Looked at from the classic liberal standpoint, the government acts as an administrator of a people that want to be able to pursue individual activities. The administration makes sure that everything flows in the right direction. The legislator provides a framework within which we as citizens are free to lead our own lives. Conduct trade, pursue an education, run errands, be able to do work.

We no longer have an administration, we have politicians instead. These politicians make the laws and expect that we will comply with this draconian legislation. In most instances they can get away with this because they have a monopoly on force. The police and the military are totally in the hands of politicians.

The laws that these politicians make are scarcely examined for their constitutionality. Were they to be tested for their constitutionality, then a whole lot of these laws would disappear because they are not in line with the constitution.