Five Years Ago Ron Said:
http://www.lewrockwell.com/paul/paul128.h tml
"Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans."
"Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans."
But DON'T WORRY, I'm sure Government has a(nother) great plan to save us all from the terror of a free market.
6 comments:
iRONically . . .
still being a "responsible, accountable, renter" I have some bitterness about the whole housing thing, as well.
The good news is that housing prices are still falling down from their artificially-inflated prices. The bad news is nobody is going to give you a loan to buy even a less-expensive home now. . .
well, being currently unemployed - nobody is giving us a loan anyway . . .
Brad, are you still not going to vote for this guy? Nothing says "fantastic presidential material" like being right about foreign and domestic issues and being a nice guy.
You're states a foregone conclusion anyways. You can make a statement with no risk!
People will still give you loans no problem. You just have to have decent credit and a respectable down-payment, which is the way it should have been all along.
These folks have to make loans to live. They'll just realize they can't be complete idiots about it anymore. You know, maybe they'll start looking for some kind of proof of income...
Hasn't Mr. Paul taken to encouraging people to vote for Bob Barr or something? I don't think Paul will even be on ballots, will he?
I'm not aware that he's been pushing the Libertarian candidate much at all. It seems he thinks it is easier to change the GOP than to make a third party viable.
Either way, it's time to think outside the ballot!
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