Skip to main content


Showing posts from October, 2008

Deficit Spending - The American Way

Deficit Spending - The American Way! I apologize for the sparse posting lately. I've been obsessing more about the economy and politics than my usual tech/social networking fare. When we get over this credit freeze, we're still going to see a recession. We should expect it, and in some sense, hope for it. Few politicians are talking about what got us into this mess. The desire to put more people into houses, regardless of their ability to afford it, via Fannie and Freddie, caused an unsustainable housing boom. Banks, happy to ride this wave of good fortune with money that wasn't really theirs, were completely complicit with this doctoring of the free market. Our inability as private citizens to delay gratification until we could actually afford it, has become all too common. The economy will not right itself until the prices in the housing market come down to their real market value. Real people will lose real money on this. Nothing has been said by our leadership on this s