Meddlers Cannot Tame The Market
From Fleck's latest: Meddlers Can't Tame the Market...
and sounding very Nattering indeed... as in Bail All You Want, nothing and no one can stop this trainwreck...
and we will hit bottom when income levels justify mortgage or rent payments.
Treasury Secretary Henry Paulson and the government appear not to understand the root cause of so much of the financial turmoil --
that being the size and scope of the housing bubble.
They seem to be operating under the misguided notion that they need to prop up house prices in order to solve the underlying problem.
However, that is dead wrong. The problem is that house prices are still too high relative to incomes.
And recently tightened lending standards will put additional pressure on home prices.
The price of housing will eventually decline to a level that can be supported by incomes.
something must be done for the people who have behaved prudently. They should get some sort of reward, just as those who behaved imprudently are going to receive aid.
Folks who have lived within their means deserve some amount of tax-free saving, That way, no one will feel taken advantage of.
As it now stands, the government expects the prudent to bail out the reckless, which is completely unjust and impossible.
The era of "pet markets" that effortlessly make people rich is definitely behind us.
and sounding very Nattering indeed... as in Bail All You Want, nothing and no one can stop this trainwreck...
and we will hit bottom when income levels justify mortgage or rent payments.
Treasury Secretary Henry Paulson and the government appear not to understand the root cause of so much of the financial turmoil --
that being the size and scope of the housing bubble.
They seem to be operating under the misguided notion that they need to prop up house prices in order to solve the underlying problem.
However, that is dead wrong. The problem is that house prices are still too high relative to incomes.
And recently tightened lending standards will put additional pressure on home prices.
The price of housing will eventually decline to a level that can be supported by incomes.
something must be done for the people who have behaved prudently. They should get some sort of reward, just as those who behaved imprudently are going to receive aid.
Folks who have lived within their means deserve some amount of tax-free saving, That way, no one will feel taken advantage of.
As it now stands, the government expects the prudent to bail out the reckless, which is completely unjust and impossible.
The era of "pet markets" that effortlessly make people rich is definitely behind us.
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