Re: OT: Time to dust off the bomb shelter!

On Sun, 17 May 2009 01:00:25 GMT, James Arthur
<bogusabdsqy@xxxxxxxxxxx> wrote:

Jan Panteltje wrote:
On a sunny day (Fri, 15 May 2009 23:56:17 GMT) it happened Richard the Dreaded
Libertarian <freedom_guy@xxxxxxxxxxx> wrote in

The Free Market is the ONE thing
that could pull us out of this crap forthwith.

Was it not the free market, or the world of the predators (like GW Bushman)
who got into this mess in the first place?

No, and no, it was not.

Social engineering of markets did it. "Regulation."

To increase "affordable" housing, our government pimped cheap
money, incentives to loan, and guaranteed lenders against loss.

That got lenders to lend foolishly. Which was the problem--

if the loans were mostly good loans to people who could pay, none
of the rest of this would've happened.


I think financial markets are inherently unstable. The gov certainly
help this bubble grow and collapse, but bubbles have grown and popped
for centuries. The pile-on of investor greed pretty much follows the
same pattern. And there's too much money floating around, looking for
a place to roost.

I don't know why the people who lost money in the stock market and in
real estate are looking for someone to blame. Mirrors are still cheap.

John

.

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