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	Name:	MartiniMan -
	Subject:	Here are Some Loaded Questions
	Date:	9/19/2008 6:35:55 PM

- Who is responsible for the current housing situation (market prices, foreclosure rates, Freddie Mac and Mae)?

Very complex answer to this question. Home prices and the speculation was primarily driven by a combination of cheap money (The Fed) and the existence of Freddie/Fannie freeing up cash for originators to make more loans than they ordinarily would (facilitated by the implied govt guarantee). Both Democrats and Republicans have had a hand in this. Government is the problem, not the solution.

- Who is responsible for the current matters surrounding the US financial markets (Bank and Investment banking firms)?

These firms bought the paper issued by Fannie and Freddie and when home prices began to go down the gig was up. In this case greed fueled by government intervention in a free market system. If home prices stabilize then this crisis will pass.

- Who is responsible for the current and future gas prices?

Part of it is due to the Fed allowing the dollar to weaken (oil is benchmarked against the dollar so a weaker dollar means more expensive oil) and demand in developing countries (China, India, etc.). What is more disturbing for us is not just the price per barrel. Even with the increase in gas prices the economy has done OK, not great. Our getting 70% of our oil from international sources is my biggest concern. That in my view is squarely caused by Democrats and weak-kneed RINOs that have been cowed by environmental wackos preventing domestic production. While China explores for oil off the coast of Florida we can't. And the current bill introduced by Pelosi is an insult to our intelligence. It frees up 10% of offshore which just so happens to be the most expensive to develop and least productive. It will be of no help and is a political stunt that Bush will be forced to veto.

- Finally, who is trying to stabilize the above and I can assure you if such creative interventions were not instituted the current economy would be a heck of a lot worse?

My final pitch that government is not the solution, it is the problem. That is why I prefer conservatives over liberals and big-government types. At this point in time, more Republicans are fiscally Conservative and Obama/Pelosi/Reid's prescription for the current problem is exactly the wrong idea.

Other messages in this thread:

View Entire Thread

Here are Some Loaded Questions - Maverick - 9/18/2008 9:48:10 PM

Here are Some Loaded Questions - dvine - 9/18/2008 10:14:49 PM

Easy answer - water_watcher - 9/19/2008 7:17:52 AM

Forgot Gas Prices - water_watcher - 9/19/2008 7:26:47 AM

Forgot Gas Prices - SPEARFISHER - 9/19/2008 10:10:55 AM

Here are Some Loaded Questions - want2beonlake - 9/19/2008 4:00:31 PM

You are right - water_watcher - 9/19/2008 4:34:45 PM

Here are Some Loaded Questions - MartiniMan - 9/19/2008 6:35:55 PM

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