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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (28018)3/11/2005 1:24:23 AM
From: Elroy JetsonRead Replies (1) of 306849
 
That's what monetarism is all about. Privatize profits while socializing the costs.

If we lived in a capitalist economy, these loans would not be made.

These loans are only possible because the lending system is heavily subsidized by the monetarist tax on savers - leading to horrific mis-allocations of capital.

Its a generous welfare system for those on the game, but the costs to society are staggering.
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