Sunday, July 13, 2008
Gordon Brown for US President ?
Christian Science Monitor says: The task for Congress is to help Fannie and Freddie slowly shrink to minor roles strictly for the poor, saving the economy from their possible collapse.
Long-term stability in homeownership demands it.gone way beyond their mission of helping the poor and are now backing loans for the wealthy. Congress has made the mistake of continuing their existence in the belief that house prices will only keep going up and that homeownership is a social good worth the risk of a massive taxpayer bailout.
IMO: USA does not know how to handle a mixed economy. It reminds me of Reaganomics, but this time it was caused by McCain (see earlier blogs)... During Reaganomics they used to say that in Lousiana you could see half a mile of 'flipping tables' where estate agents flipped properties to one another in an almost endless line, this was to make money at the expense of the US Goverment, at the ultimate expense of honest taxpayers. Maybe the US needs Gordon Brown as President, most people in the UK would be happy with that. In UK they are talking about tomorrow being 'black Monday' in the US, with trillions of dollars in play by the Bear Stearns/McCain type wide boys. The rest of us ? Maybe lucky if we wind up as trailer trash.
Christian Science Monitor says: The task for Congress is to help Fannie and Freddie slowly shrink to minor roles strictly for the poor, saving the economy from their possible collapse.
Long-term stability in homeownership demands it.gone way beyond their mission of helping the poor and are now backing loans for the wealthy. Congress has made the mistake of continuing their existence in the belief that house prices will only keep going up and that homeownership is a social good worth the risk of a massive taxpayer bailout.
IMO: USA does not know how to handle a mixed economy. It reminds me of Reaganomics, but this time it was caused by McCain (see earlier blogs)... During Reaganomics they used to say that in Lousiana you could see half a mile of 'flipping tables' where estate agents flipped properties to one another in an almost endless line, this was to make money at the expense of the US Goverment, at the ultimate expense of honest taxpayers. Maybe the US needs Gordon Brown as President, most people in the UK would be happy with that. In UK they are talking about tomorrow being 'black Monday' in the US, with trillions of dollars in play by the Bear Stearns/McCain type wide boys. The rest of us ? Maybe lucky if we wind up as trailer trash.
# posted by uv : 11:19 AM
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