Geezus, don't tell me you don't know the reason behind the housing bust. Don't tell me you don't already know that the current banking system that funded bogus mortgate applications was a fraud to begin with. Don't tell me your ignorance keeps you from seeing that workers are getting axed largely due to these idiot banking firms. Don't tell me earnings are down because you refuse to see that the inflation is skyrocketing as a result of artificially low interest rate that got us into this mess in the first place. Don't tell me dollar is weak just because the Dems are in control. It's low because thanks to our patron saints, Bernie and Paulie, who are happy not only to lower the interest rates but keep infusing cash into the system. Don't tell me...what? Oil is directly tied to the rate of inflation and inflation is sadly tied to the greenback. You seem to like sticking your head where the sun don't shine. Dems inherited what Republicans created.
I agree. I do not endorse a "controlled economy". Not at all. I just have a hard time seeing someone like Mccain NOT vetoing a bill that will spend money by regulating certain aspects of the free market. You hit it on the head when you say the market isn't truly free unless the gov't is somewhat involved. About the housing markets, no they aren't deregulated. We have RESPA, HUD, etc, however consider this. At 18 years old ( approx 3 years ago) I was able to start my own mortgage company and boker millions of dollars in loans per year. I had no prior experience and could have ripped off dozens of people. I didn't, and I'm glad I got to do it, but being in the industry I got to see what really goes on. Is i corrupt? I wouldnt go that far, but if you had a pulse, I could get you a loan. Why? Not because I was a trickster or a liar, like I said I didn't know enough to be either, but because the lenders did not care. I would say to my account executives that I had a loan that didnt match their guidelines. "What??" They would say. "Send it to me, I will push it through". And they did. The reason they were able to push it through is because they were selling the loans on the secondary market. They only held the loans and the risk for a month, if that. Sometimes I would get to the closing table and the loan would already be sold and the docs the customers would sign would be of a different company. Anyways because wall street was buying up so much paper with no regard to risk managment and bond insurers were insuring, and S&P was rating, the whole thing was like a house of cards. The companies that were leveraged 50/1 ( thats like going to the bank and getting a loan for $250,000 on $5,000 in collateral) were making boatloads until it all came down. When that happened the greed of few had a negative affect on our entire economy. Once again, I agree with what you say and I am a free market guy, but we have to be ale to prevent things like this from happening. Surely we can maintain a sense of order (for at least a while) without stifling the entreprenurial spirit. Thats my take. I'm not saying its an easy task, far from it.
Oh by the way, I have been in Alaska for the past 8 yrs, fishing with Sarah and shooting moose... Damn those moose burgers are good.
Perhaps you're too young to remember, but it was the same people like yourself who kept on giving credit to Bush & Co. Now you brush away your idol as if the past 8 years never happened. What facts are there to uncover? More than few of us lived through it and we're fucking sick of it! So quit patronizing!
Wha? My Idol? Bush really isn't my idol. And I was too young to vote in the last election. I'm actually a registered dem, but I guess my pro-bush comments threw you off? We don't all have a partisan mind. I look at facts and the current situation, alien though it may be to you. As for the rest of your post, well I really dont know what your talking about. You sound like bush
Many people are "information challenged" and have a lack of knowledge. This might be because of lack of time, opportunity, disabilities or other deficiencies. That doesn't stop people from having an opinion, though - and they still get to vote. The results are "interesting".
Just what facts do you have in mind that I'm so intellectually challenged to have incorrectly regurgitated? Why don't you spit out some concrete facts yourself for me to chew on instead of exercising such useless mental masturbation? Touché.