To: Tax-chick
"Im following you, but back it up a step: Why did the toxic mortgage assets exist in the first place? GOVERNMENT. We already got Sarbanes-Oxley, hundreds of small-print pages of regulations to fix a problem that was created 100% by government. Im prepared to applaud a smart tax proposal from Trump, but without a massive teardown of functions like government mortgage brokering, the best efforts will (in my opinion) simply result in more of the same. Maybe it wont be mortgages that are the trigger of the next meltdown. Maybe it will be college loans. Maybe it will be municipal or state bankruptcies. No amount of money-supply expansion can stave off disaster forever."Ah, different animal same flu. The flu being some form of redistributive insanity ( a program ) that no free-marketer will take because of the intrinsic risk and the "Moral Hazard" these programs expose us all too. and that no banker or fiduciary in his right mind would expose him or herself or a client too if they engage in the free-market without the the visible hand of regulation smacking them down all the time.
My bet would be on student loans....
40 posted on
09/27/2015 7:19:01 AM PDT by
taildragger
(It's Cruz & Walker. Anything else is a Yugo with Racing Stripes....)
To: taildragger
Great description!
I think a student loan disaster may be punted in some way into the future, while state/municipal pensions - a much bigger disaster - may collapse sooner. One reason I think so is that retired people have a higher political participation rate than students.
56 posted on
09/27/2015 7:32:27 AM PDT by
Tax-chick
("There will be no conservative issue islands left to stand on if the red tide comes in."~S. Knish)
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