Economics of Housing

Investors Business Daily Monday July 11 edition page 1 stunningly reveals that the Dept of Justice (DOJ) is up to old tricks that were at root of Great Recession. DOJ has asked several banks to relax loan standards even to point of counting public assistance as income and also NOT rejecting outright those with no jobs. And DOJ ordered Midwest Bank Centre to set aside $1 million for affirmative action loans. Finally DOJ has required some banks to earmark potentially millions for community organizers to further assist in affirmative action lending. Then Friday night July 8 on CNBC’s Larry Kudlow hour, Laura Tyson (ex Obama Economics advisor) has audacity to state that free market capitalism was root cause of Great Recession. Unfortunately Mr Free Markets Kudlow did not challenge her on this myth. Laura – please read this — – ‘Root Causes of 2008-9 Recession’.

 Add the economics of housing to the wars against Boeing, our oil industry, and now even Google. What more proof to we need that Obama and his other Saul Alinsky disciples like NJ Senator Menendez are out to destroy US capitalism as we have known it – the greatest jobs producing engine in history (1976 – 2007). We need to educate the populace about how personally destructive these policies are. One way will be to identify a real deal capitalist to oppose Menendez next year – whether a Democrat or Republican (I am an Independent).

About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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