July 18, 2012
Voters From Both Parties Overwhelmingly Support Big Defense Cuts
Link: Voters From Both Parties Overwhelmingly Support Big Defense Cuts
Hard hitting global and local news
Hard hitting global and local news
Link: Voters From Both Parties Overwhelmingly Support Big Defense Cuts
The medicine is killing the patient. Increasing the dose is madness. Greece outside the Eurozone may well provide an inspiration for Spain, Portugal, and many other countries.
What Role Does Government Play in Price Inflation?
This is what I stated, adding the words [banks thought]. The email from reader David follows this recap. Five Reasons Banks Extended Credit in Housing Bubble Years [Banks thought] People would pay mortgage loans because they always did [Banks thought] Housing prices would rise sufficiently to cover defaults [Banks thought] Mortgage interest rates to subprime borrowers were high enough to cover risk [Banks thought] Defaults would happen over a long period of time, not quickly concentrated Banks could pass the trash to Fannie Mae and Freddie Mac (without clawbacks for non-performance), and/or loans could be sliced and diced in tranches to investors If any of those conditions were true, then banks were indeed making loans to “credit-worthy” borrowers
