So now we are on the way into – or already are in – a recession, led, of course, by the housing and mortgage problems.
Logically one wonders – who got us into this mess? Who allowed folks who can’t pay off mortgages to borrow money in the first place?
Gee – what a surprise – Congress!
Forced to address the concerns of activist groups complaining that not enough un-credit-worthy people were being extended credit (there’s a reason for that…) and therefore not buying homes, Congress created and then forced bankers to issue – a mortgage environment designed for those who couldn’t pay back the money.
And guess what – sure enough, those people couldn’t pay it back – just what the marketplace already had told sane people before the involvement of Congress.
Yeah – that’s a way forward – Congress meddling in the housing market.
And now Hillary wants to have Congress ensure that folks can’t fail-out of their mortgages, The only way to guarantee this, of course, is for the Feds to nationalize housing. Talk about a liberal dream! That’s even better than nationalizing health-care – we’ll ALL be dependent on the government then!
Think Congress can figure out that – if Congress (i.e. the taxpayer) really owns all these homes (as the ultimate financial backer) then no one really owns their own homes!
No matter what choices you make in your life, you can buy a house and We the People will pay your mortgage for you when you can’t. If there’s a faster way to Depression I am unaware of it.
Now some in Congress may be smart enough to realize this (arguably not – they are a not-too-bright-bunch, overall), and you can bet that those who do are Democrats who want socialism anyway.
I mean it’s always worked so well, right? 30M dead in the USSR in the 1930s, 80M dead in China in the Cultural Revolution, 2M dead in Cambodia, basically no job creation in the European demi-continent for decades.
Socialism always works so well…
Is it just inthisdimension that recognizes the Democrats wait until a policy has failed everywhere it’s been tried before they announce it is the only way forward – and try to pass it here?
What’s the opposite of PROgress? CONgress. Remember that.