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| Jim, thanks for your views.
Here's how I see it.
The big banks that were going to fail, should have failed. AIG, should have failed. That's the only way you get these institutions to internalize the risk of what they do. As long as they can pawn risk off on the taxpayer, it ain't gonna change. Now, what would have been the ramifications of that? Might there have been some credit dislocations? Maybe, but there seems to have been plenty of money put into the Stock Market that could have been redirected for a good return elsewhere. Would the housing market have crashed? Maybe, but we have that right now in slow motion anyway. Prices will eventually get where they are going to go, but we're probably going to take more current buyers down now, than we would have otherwise. When land prices went down here in the 80's, it was like the bottom fell out, and that did create some opportunities. In my mind, what's really going on here, is those at the top with the money and power are trying to use the political system to keep it, and, so far it's working. Those of us that aren't quite so well off could use a good correction to get some opportunities. As long as everything keeps continually inflating upward you don't really ever have a chance to get ahead. This country has always been about rule of law, the chance to make something, the chance to be free, and the current ruling class in this country is turning that on it's head. Too many rules, too many regulations, too much favoritism from on high. | |
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A Real Simple View
