Tuesday, February 12, 2008

Manipulating the Market

President Bush does something that definitely should concern us.

With the constant concern over wiretapping, the war in Iraq, and healthcare, no one seems to be paying attention to the President's and Congress' direct intention to prevent the market from correcting itself, thereby creating worse economic realities down the road.

Free markets work best when they work freely. The dirty secret of this housing mess is that the people who are defaulting would have defaulted anyway. Many, many of these people bought way more than they could afford in markets they could not afford to live in. In the long run, the whole economy is better off shedding this weight now than waiting until we can't afford the credit at all.

-=DLH=-

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