B.B.Crane Wrote:
Aug 30, 2012 11:42 AM
First of all, Bill, as REAL economists know, the boom-bust cycle is created by government intervention, not as an inherent instability of capitalism. It is an inevitable and recurring fact of life in fascist and communist nations where central planners and bureaucrats restrict consumer choice and eliminate entrepreneurial freedom. Second, Bernanke and his friends created the housing bubble by lending to those who couldn't repay because government allowed them to not only pass off their bad loans to others, leaving them liable, but to insure and short their losses, saddling taxpayers with making up ALL loses and giving the banks millions of homes through foreclosure and trillions in bailouts. It's time stop crying and start revolting.