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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Bill on the Hill who wrote (78520)	4/30/2008 1:27:33 PM
From: benwood	Read Replies (1) of 116555

Amen. There are two groups I can identify offhand who will pay for this program: taxpayers (for when it falls short); and future home buyers. Yes, home buyers. My biggest beef with the housing bubble flame fanners (Greenie, Congress, bank fraudsters, etc.) is that it prices OUT people who otherwise would have been able to afford to purchase a home. By artificially making taxpayers levitate house prices, some of the very people who are taxed are supporting a plan that ironically makes houses too expensive for them to purchase. There are other side effects of course... Somebody always pays for the intervention as the 'free market' whatever that might have been receives yet another government-inspired distortion that stems from preferring one group over another but nearly never works out as intended. That of course sets the stage for another, bigger stupid plan to fix the totally unexpected consequences of the first stupid plan. Then the third plan, the fourth plan, the fifth plan.

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