IF YOU CAN’T AFFORD A HOUSE, DON’T BUY ONE:
“When legislators and activists say that we need low-down-payment loans because most people couldn’t possibly save up for a 20 percent down payment, what they’re really saying is that people can’t actually afford to buy a house. Helping them to go buy one anyway is not a great idea; it will work out well for some, to be sure, but it will have tragic consequences for others, and for the housing market as a whole if there’s another downturn. We just spent six years learning, the very hard way, that you can’t borrow yourself rich. That knowledge is too expensive to throw away so easily.” – Megan McArdle
Our government hasn’t learned that yet.
Sorry Glenn, this fits into a very old pattern: “A Feature, NOT a Bug.” McArdle, too, misses the obvious.
The point is threefold:
Begin by disrupting the banking system so that it has to come to the rulemakers for favors and solutions;
Then “borrowers” will vote for even more toxin hoping to get something for free;
And in consequence, banks and real estate players will fund election campaigns in hopes that the gravey train keeps rolling.
It’s a lucrative power grab for those making the rules. Think “friends of Anthony.” Think “Jon Corzine.”
. . .
In the first place, Government, like any collective, is incapable of learning, and in the second, Government isn’t the ignorant party.
Long overdue, but nicely concluded.
Via Arutz Sheva:
SWAT Unit Praised After Elimination of Teens’ Murderers
“Elimination.” A nice way of saying that they were put down like rabid curs. They shall not be mourned.
May yeshiva students Naftali Frenkel (16), Gilad Sha’ar (16) and Eyal Yifrah (19) be a Blessing in our memories forever.
An American, a gent and a firefighter remembered by another of our heroes:
. . .
. . .
Not for the timid: 9/11:
. . .
. . .
A profile in cowardice:
A profile in courage:
Congress – even the House alone – has, in fact, various powers under the Constitution to stop this tyrant and his agenda in it’s tracks. All that is required is the will to do so.
It’s a straightforward economic phenomenon: The demand for any behaviour decreases as the risk and/or price for it rises.
Alas poor Leo. He believes…
“Ancient life on earth. Over millions of years plants and animals lived and died; that decomposed life sunk deep into the ground and as a result an ancient menace was created: fossil fuels.”
True as it goes for coal, but only for coal.
Petroleum oil – classical hydrocarbon – is rather another phenomenon entirely. If Leo had bothered to do some basic research into the origins and locations of hydrocarbons, he’d understand that are a product of the Earth’s mantle processing archaeo-methane, one of the components of the dust from which the Earth had originally formed.
He could learn a great deal about hydrocarbons if he’d take a first year geology course. Something 99.9% of the methane and ethane released from shale came from deep below, seeping like oil does, finding layers in the crust where it gets trapped. He’d understand why “depleted” wells are surprising with new yields a few years later. He would understand why methane nodules freeze on the deep ocean floor.
If he’d take a first year biology course, he would discover the Kreb’s cycle wherein plants voraciously absorb carbon dioxide from the atmosphere and create glucose… and thus why CO2 is a kept trace gas, typically around 1/3rd of 1/10th of 1% atmospheric concentration.
Further, he’d dig that as more CO2 is made available, the literally greener the planet gets. More plants mean more fish, more animals, more room for “diversity.” So much for “ancient menace.”
Leo ought to examine one truly menacing fossil from the past… his elitist ideology capitalizing on gross ignorance. It’s a tired old game. That one deserved proper burial.
Were you aware that the US Government spends your tax dollars on an “Office of Population Affairs“?
Margaret Sanger, call your office!
From Tricia Erickson:
I am so sick and tired, yes, sick and tired, of hearing about the “War On Women” while women fill abortionist’s offices to terminate the life of their own female (and male) babies.
Erickson makes a number of serious points in the article.
Yours truly is left asking: Like the debt, statists think they can zero-out themselves with impunity?
Yet isn’t it odd that the Government is replacing those murdered babies with millions upon millions of invading illegals? It’s as if they’ve applied their zero-sum economics to population control, realizing at the last moment that policies consistent with their foundational values are self destructive.
Yours truly recalls running some (crude) numbers for Florida 2000. Thanks to RvW, apparently there were roughly 100,000 liberal ghosts – thus 35,000 likely voters missing from Florida rolls, of which statistically about 80% would have voted Gore. He’d have had it by a narrow but sustainable majority. Irony of sick ironies, the Supremes handed it to Bush anyway. Zero!
Today is Tisha B’Av , the Ninth of Av, a day in Jewish history upon which many calamities fell and a day in which we mourn loss.
As an American, we might ask: America has Thanks Giving Day and the Fourth. Would it be difficult to identify America’s Ninth of Av?