Saturday, May 18, 2013
Seeds of destruction
Next home $ crisis
Former chief credit officer of Frannie Mae explains why seeds of next housing crash are being sown in US. Note similarities with what Osborne in his infinite stupidity is doing here
Posted by stuartking @ 12:24 PM (6041 views)
One thought on “Seeds of destruction”
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alan says:
I don’t believe Osborne is “infinitely stupid”. What he has chosen to do will stimulate the building industry and provide a short term gain in employment. Of course, the workers will pay tax, buy things and generally assist the economy. The problem I have with Osborne’s policy is that it is short term gain now with high risk later. Looking forward, substantial risks come in the form of potential defaults and all the misery that goes with it…
It’s synonomous with cheating spouses and drunk drivers IMHO.