posted on Apr, 4 2013 @ 07:51 PM
Didn't learn one single thing, did they? NOTHING learned...nothing at all. The whole Real Estate bubble and BANG was, at the core, about market
fundamentals that could never be sustained. People in homes on 0 interest and/or 110% - 120% home mortgages on a variable rate to just destroy people
who either couldn't read the terms or DID read them fine and just figured 'Oh well.. we'll deal with it then'. Oh well x's 10's of millions crashed us
into a LONG recession, IMO. Depression by some people's thinking.
Now we're right back at it eh?
Insanity is doing the same thing repeatedly and expecting a different end result each time. Fail is Fail and if the market implosion didn't spell fail
on letting people buy homes they can't afford or reasonably obligate to pay for the theoretical life of the loan? I don't know what would do it.
The Fed is STILL buying 10's of billions in BAD mortgage paper per month, as well as the junk that was derived from it. Thats part of that $85 billion
But then... Obama never claimed to be an economist right? He was a Constitutional guy. Gave University classes on it and everything for a time.
edit on 4-4-2013 by Wrabbit2000 because: (no reason given)