“Don’t Steal. The Government Hates Competition.” written on a placard on fellow Libertarian Ron Paul’s desk.
Here is the full story courtesy of the NY Times.
I can’t stress it enough. The real losers in the housing bailout are responsible Americans who continue to save and not overextend themselves financially. Anybody whose mortgage is saved via taxpayer intervention should be forced to forfeit any gains from the future sale of their property.
From the WSJ via the Skeptical CPA – “… countries like Zimbabwe that are ravaged by hyperinflation and need to issue new notes so often. … A loaf of bread costs 30 billion Zimbabwean dollars…”
Walmart (previously Wal-Mart) has unveiled a new logo. And yes, it really is my favorite store.
I am totally against any form of mortgage bailout. I also was and still am opposed to Congress’s bailout of Bear Sterns. The reality is very few Americans (proportionally speaking) stand to lose their homes. And if banks and mortgage companies lose money or go out of business then that is the nature of the free market. The real victim of the mortgage fallout is responsible Americans who did not buy more home than they could afford and aspiring home owners who are renting (and not getting an IRS subsidy in the form of a tax break) while they save for the purchase of a home.
It is refreshing to see Congressman Feeney stand up for the forgotten Americans.
John McCain is currently airing an ad supporting the Columbian Free Trade Agreement. He is correct that free trade enriches Americans and that it will help create more jobs both in America and abroad. He also points out that more and better jobs abroad also helps deter both legal and illegal immigration. The question is why is he making such an unpopular stand right now? Perhaps this is just the most recent destination on the straight talk express.
It should be noted that I am an advocate supporter of free trade (yes even with “communist” China.) I also am a strong advocate of public and private programs to help workers who lose their jobs (by outsourcing or other means) reenter the workplace.