housing bubble: A Bill in 2002 Could Have Stopped the Housing Bubble
- 10/21/08 12:30 AM
Could anyone have seen the coming housing bubble back in July of 2002? Did anyone warn us about certain conditions that were laying the ground work for a bubble to be created in the housing market? Here's part a very interesting speech given back in July of 2002. It's almost like the speaker had access to a time machine and saw what would happen five years into the future. Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges of Fannie, Freddie, and HLBB … (7 comments)
housing bubble: How Did We Get Here? The President's Speech Writer Got It Right
- 09/27/08 01:26 AM
I've heard many versions of what happened to cause the current financial mess that we are currently in. I'm not a big fan of President Bush anymore but I must say that he explained how we got here very well. Probably many missed his speech on Wednesday night, so I wanted to post his explanation here. Whoever wrote this speech, really understands what happened. My problem is with the solution he proposes. I think it might get the financial wheels unclogged but it won't really change the things that created this mess in the first place. Here's the link to the … (4 comments)
housing bubble: Housing Bubble Predicted in 2003. Did This Guy Have a Crystal Ball?
- 08/09/08 12:45 AM
Here are some excerpts from a speech given on September 10, 2003. It is amazing how today's housing bubble and Fannie Mae trouble is described so accurately. It's like the speaker had a crystal ball and could see into the future. Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from … (4 comments)
housing bubble: Peter Schiff Was Exactly Right With His Prediction a Year Ago
- 10/27/07 01:05 AM
I always get a chuckle watching news shows and listening to these panels of "experts" predict what's going to happen in various markets in the future. It's interesting once in a while to look back to see who was right and who was wrong. I stumbled upon this video from about a year ago where they had a panel of pundits predicting what was going to happen to the housing market in 2007. Peter Schiff, son of tax protester Irwin Schiff, predicted exactly what we are seeing today. It was like he was able to go into the future and then go back in … (19 comments)
Could anyone have seen the coming housing bubble back in July of 2002? Did anyone warn us about certain conditions that were laying the ground work for a bubble to be created in the housing market? Here's part a very interesting speech given back in July of 2002. It's almost like the speaker had access to a time machine and saw what would happen five years into the future.
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