PS: I, for one, am heavily against the idea of a free market.
Ironically, the housing market collapse was because there wasn't enough government regulation. Many of the lending practices in the last few years were questionable at best. A ton of people were approved who could not afford a house.
The free market spun out of control on its own enthusiasm until it all came crashing down, kind of like the DotCom bubble.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
| akuma587 said: Ironically, the housing market collapse was because there wasn't enough government regulation. Many of the lending practices in the last few years were questionable at best. A ton of people were approved who could not afford a house. The free market spun out of control on its own enthusiasm until it all came crashing down, kind of like the DotCom bubble. |
A simple fix, early on, could have been to have changed the way the people who actually sell these houses are paid. These guys were being paid on commission, they were paid for selling a house, they weren't being paid if they didn't sell the house. Of course, you would think that the estate agents would be careful, but I don't think they realised exactly what they were doing.
I think the estate agents believed they were a far smaller piece of the puzzle than they actually were.
| akuma587 said: Ironically, the housing market collapse was because there wasn't enough government regulation. Many of the lending practices in the last few years were questionable at best. A ton of people were approved who could not afford a house. The free market spun out of control on its own enthusiasm until it all came crashing down, kind of like the DotCom bubble. |
That's what I meant in one of my later posts... This shows how incredibly short-sighted the free market can be.
The "100% free market" crowd are just a bunch of idealistic wishful thinkers.
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NJ5 said:
That's what I meant in one of my later posts... This shows how incredibly short-sighted the free market can be. The "100% free market" crowd are just a bunch of idealistic wishful thinkers.
|
That, or they are at the top of the pile, so to speak.
Anyone who thinks the free market can solve any problem simply needs to look at the state of healthcare in this country.
Healthcare companies as well as health insurance companies have gotten so much advantageous legislation passed for them in spite of how much it hurt the public that it isn't even funny. That in itself goes against free market principles. The government should not show favoritism to industries.
But don't tell a free market supporter that. They think the government bending itself over and taking it up the rear from companies is part of the "free market." Government by the people for those against the people.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
I think y'all are being way too pessimistic. We've weathered worse than this before, and while things can always get worse I think it's far more likely that things will get better.
What really gets me mad is that foreigners think they know everything about the US.
And that's the only thing I need is *this*. I don't need this or this. Just this PS4... And this gaming PC. - The PS4 and the Gaming PC and that's all I need... And this Xbox 360. - The PS4, the Gaming PC, and the Xbox 360, and that's all I need... And these PS3's. - The PS4, and these PS3's, and the Gaming PC, and the Xbox 360... And this Nintendo DS. - The PS4, this Xbox 360, and the Gaming PC, and the PS3's, and that's all *I* need. And that's *all* I need too. I don't need one other thing, not one... I need this. - The Gaming PC and PS4, and Xbox 360, and thePS3's . Well what are you looking at? What do you think I'm some kind of a jerk or something! - And this. That's all I need.
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| noname2200 said: I think y'all are being way too pessimistic. We've weathered worse than this before, and while things can always get worse I think it's far more likely that things will get better. |
How? Are all these people going to miraculously find the money to pay back their debts? And whilst that happens, we're going to stumble across oil on the moon? Except this will be super-oil that never runs out, and it so light it can be transported from the moon to the earth at little to no cost.
One of those things happening? It's not impossible. Two of those things happening? There's an outside chance. But, THREE of those things happening, that I'd like to see!*
*Adapted from a Mr. Burns quote from the episode "Homer at the Bat" (season 3).
| Strategyking92 said: What really gets me mad is that foreigners think they know everything about the US. |
Please be more specific, that doesn't really contribute to the thread.
I can assure you of one thing though... Foreigners know more about the US than most Americans know about other countries, even if only for the fact that the US has so much influence today.
My Mario Kart Wii friend code: 2707-1866-0957
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