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Government house loan guarantees ensure the misallocation of credit

By golfplan18   Follow   Wed, 9 Jan 2013, 11:17pm PST   258 views   2 comments
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Plato’s critique of the shortcomings of democracy are still just as valid today as they were 2,500 years ago when he wrote it. Usually, I feature recent news articles less than a few weeks old. Today, I am featuring an essay written more than 160 years ago. The fact that it resonates so well today shows just how farsighted his vision was. Our obscure French economist understood the workings of credit and it’s impact on society in general. He would readily recognize the misallocations of credit caused by government loan guarantees in the housing market and distortions of reality used...

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Oil Can   Thu, 10 Jan 2013, 1:53am PST   Share   Quote   Permalink   Like   Dislike     Comment 1

I think won't see the privatization of the mortgage industry for the next 30 years. The banksters own the federal government.

PockyClipsNow   Thu, 10 Jan 2013, 7:57am PST   Share   Quote   Permalink   Like   Dislike     Comment 2

Yeah its a lost cause. The government only grows larger until it collapses upon itself and starts over from new small government. Example CCCP, british empire, roman empire, we are next but still in growth phase for now.

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