Re: [MLUG - DISCUSSION] why our economy is a mess

["Vern Green" <EMAIL:PROTECTED>]

OK so, over 200 years of free market was all a fluke, and now we need to no longer have a free market. We need the democrats to come in and pull a Hugo Chavez on the American economy to keep us from ever getting into this again.

 

Look, the housing market problem we are having right now is directly from people, yes, people, who should not have been buying houses for the price they were paying for them. Creative financing was created to get those people into homes they should not have been purchasing because they do not make enough money to own them.

 

Straight up, when you see an ad that says 3% introductory interest rate, you might want to ask the question of how you will pay for that $600,000 home when the interest rates go up to 5% or 6%. Those of us that are smart enough to realize that the bubble was there and stay out of the market are still renting, while those that were stupid will be bailed out of their stupidity. Maybe the really stupid person here are those of us who recognized we could not pay for a home and decided to wait it out.

 

In typical liberal fashion, Krugman wants to blame the policy makers in Washington for the problem. It is not government's job to tell a bank how to lend their money. My God, what are you thinking to even suggest a stupid notion like that? Everytime Government gets involved, it ends up costing the American people.

 

I don't want a SINGLE person helped, I don't care if every person that bought a house loses it at this point, it is their own stupidity that led to this problem, that and the HGTV network, which is another rant on another day.

On Dec 3, 2007 3:30 PM, Mike Miller <EMAIL:PROTECTED> wrote:

Explanation:

http://www.nytimes.com/2007/12/03/opinion/03krugman.html

Summary:  Neocon faith in the free market allowed "innovation to get ahead
of regulation."  In other words, ideology trumped logic and we allowed our
Republican leadership to do a little experiment on us, kinda like the Iraq
invasion.  Well, also like the Iraq invasion, this experiment was a
failure.  I hope we can at least learn something from this!

Mike

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Thanks
F Vernon Green 
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