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That makes for a good bumper sticker. But the fact remains that government intervention is a necessity when the private sector screws the pooch. Partnerships between the government and the private sector can work well. How do you think the South is turning into an auto manufacturing Mecca?
Well said what we are dealing with now is a really big problem. 4years at 0.25% and still no strong economic growth? Go figure. We should be having a really big bubble about now. Where is it? Too much debt and not enough income.
I just shake my head at the people who think that Obama or Democrats are to blame for the condition of the housing market. Those who blame it on one party or one individual are seriously naive and clueless.
should obama get the "blame"???...no...but he sure is PART of it
obama and the democrat congress has done 4 (FOUR) different government mortgage 'helps' programs in the last 2 years....each were SUPPOSED to help 4-6 million underwater home owners....total TO-DATE helpsed...less than 500k
but the real cause of this goes back to 1995 when Clinton directed his chief of HuD (Henry Cisneros, and later Andrew Cuomo) to change the FEDERAL (through HUD, fannie/freddie) rules for obtaining mortgages...having easy credit, and exotic mortages available to even those who never would have qualified for a standard mortgage, created a huge upswing in housing and housing prices surpassing all historical gain types...instead of homes increasing in value at 5-7%..homes were increasing at unheard of levels like 35% a year
and when the republicans tried to REIGN in the outof control fannie/freddie...democrats like dodd and frank said there is 'nothing wrong with them' and it was a 'witchhunt'
More like $10 loves of bread but yes that is basically the point of raising the minimum wage that high. http://www.bearishnews.com/wp-conten...l-debt-gdp.jpg The peak in that graph is the death of the economy. Bring it back to 130% of GDP and we could see a long time of economic growth. The fastest way to get there is with inflation. The dropping housing prices and the drag that this represents on the economy... well inflation can make the books balance. That should set the stage for economic growth
That makes for a good bumper sticker. But the fact remains that government intervention is a necessity when the private sector screws the pooch.
Government screwed the pooch with mandates and attempts to manage rather than control business. And government intervention is not a necessity, it's the problem just like it was in 1933.
Yes, it's a good bumper sticker. Too bad our Crony Capitalists in office today don't read it.
I just shake my head at the people who think that Obama or Democrats are to blame for the condition of the housing market. Those who blame it on one party or one individual are seriously naive and clueless.
I know and I agree.
I was providing an anecdote, did I say it was data.
I see what's happening in my neighborhood.
Last edited by chielgirl; 03-22-2011 at 09:19 AM..
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