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<p>[QUOTE="medoraman, post: 1174317, member: 26302"]There is, what is lacking is political courage. The malaise we see today is simply due to government intervention in the markets. Housing would have recovered and put millions of people back to work if the government simply allowed the correction to take place. People were greedy and make poor bets on an asset, they should take the loss and allow the market to recover. Instead, the US intervened and has drawn out this correction for years versus a year it would have taken.</p><p><br /></p><p>This is why economies improve so well when it is deregulated. This government interference almost never helps, it only hinders free markets from creating wealth and helping everyone. Remember those 400 people you talk about employ millions of Americans. Do you really think taking that wealth away will do anything other than forcing massive layoffs and feeding the coffers of whatever political party does it? Don't begrudge wealth gain honestly, admire it and try to emulate it. People should not try to pull successful people down, they should try to rise up to become like them.</p><p><br /></p><p>People being thrown out of their homes either paid too much for an asset, or borrowed against an asset they pledged for collateral. They are not innocents, they made the financial transaction. Hey, if there was illegal things done I am all for stopping a foreclosure, but most of these are simply bad purchases made by people, and in a free market mistakes has to have consequences, or we will be living in socialism where everyone makes $10,000 a year due to no incentive to do better.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1174317, member: 26302"]There is, what is lacking is political courage. The malaise we see today is simply due to government intervention in the markets. Housing would have recovered and put millions of people back to work if the government simply allowed the correction to take place. People were greedy and make poor bets on an asset, they should take the loss and allow the market to recover. Instead, the US intervened and has drawn out this correction for years versus a year it would have taken. This is why economies improve so well when it is deregulated. This government interference almost never helps, it only hinders free markets from creating wealth and helping everyone. Remember those 400 people you talk about employ millions of Americans. Do you really think taking that wealth away will do anything other than forcing massive layoffs and feeding the coffers of whatever political party does it? Don't begrudge wealth gain honestly, admire it and try to emulate it. People should not try to pull successful people down, they should try to rise up to become like them. People being thrown out of their homes either paid too much for an asset, or borrowed against an asset they pledged for collateral. They are not innocents, they made the financial transaction. Hey, if there was illegal things done I am all for stopping a foreclosure, but most of these are simply bad purchases made by people, and in a free market mistakes has to have consequences, or we will be living in socialism where everyone makes $10,000 a year due to no incentive to do better.[/QUOTE]
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