He's Still Right

government price fixing never works and always leads to failure.

Crisis or no crises. Though, it's easy to sell the first few times in as a fix, if the people are scared enough.

I think parts of the real estate industry are scams. I've paid $500 for a drive by appraisal. Now how do I get a job like that? I've also offered $227,500 on a house and had the appraisal come back at $227,500. Amazing how the appraisals always come back at the value I've offered to buy the house at.

The way I think it works is this: The appraiser figures that if I'm willing to spend an amount of money on a house, then it must be worth the amount of money that I'm willing to spend. But isn't that how it works? At object is worth what someone is willing to pay for it.

How many people bought houses with the intent of flipping it? What do you call someone who makes a bad investment?

Isn't it the homeowners who are upsidedown on their mortgages that are in trouble? More trouble than the banks who've made bad loans? What do you call someone who loans money to a risky proposition?

If we, as a nation, were upsidedown on our car loans, would the Fed Gov't bail out the auto industry? Does that make sense? That is what they are doing.

Now I'm starting to deviate from my original point, that Government price fixing never works and always leads to failure, and want to go off on how the homeowners who made bad choices are worse off than the banks, but since they don't have the organization or lobbying power that the banking industry has, they'll never get gov't action to save them.

Dr. Paul offered to address the issues that make for a weak financial environment and most everyone ignored him. The proposed gov't bailout is, at best, a bandaid, and, at worst, a double whammy for us, more gov't debt that we'll have to pay back with a weaker dollar. Kind of like a man, bleeding to death, trying to give himself a transfusion, figuring that if he can water down his blood, enough, he'll have enough to survive.