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Politics : Formerly About Advanced Micro Devices

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To: michael97123 who wrote (392374)	6/19/2008 2:49:05 PM
From: tejek	Read Replies (1) of 1577375

I didnt expect the problem to explode upon us as it did. Having said that, the last eight years of bush admin with this congress as well has been a disaster. Like I said, if you had been posting on this thread, you would have known.....not that it would have done any good. Nothing has been done. If only a few things had been done, the mess we are in wouldnt be quite as critical. And we face this now with the housing/banking crisis at the same time. FYI, right now 4% of homes are underwater or in foreclosure. Housing prices are expected to decline another 10% over the next 12 months. If this occurs 30% of homes in the US will be underwater. This is also a crisis and i am not sure we can address both at the same time with long term solutions. The housing crisis will work itself out on its own......it already is. The little people will suffer but they always do. The energy crisis is a much bigger problem where a lot more people will feel the pain if the fed. gov't does not do the right things. I am for the direct intervention of government in housing, in effect guaranteeing a certain portion of all mortgages to keep folks in their homes and shore up prices. I dont know exactly how this would work but some pols have already proposed it. I would have to see what is proposed........I would rather see the lenders redo the mortgages on the effected properties by providing lower interest rates and foregoing some of the higher profits they wanted. In any case, something better be done soon because most of the effected housing will be in varying states of foreclosure this summer. Maybe what i have learned about free markets is that every market has the seeds of its destruction built in based on excessive greed. If that greed cant be contained, it gets out of hand. In that case, govt needs to intervene as in New Deal. Progressive conservatives who brought us growth under reagan thru clinton and even bush, are now this gens reactionaries by hanging on to the myth of the free market in this crisis. Man i sound like i belong in the faculty lounge with you Ted. (g) You can't have free markets without gov't regulation.......because greed quickly takes over. Long ago, Bush signaled that there would be little gov't regulation and industry acted accordingly. The real estate industry proved to be exceptionally bad. Its as simple and as painful as that.

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