“What percentage of the government, much less the electorate, predicted the last housing and banking crisis?”
You have a good point. Most people were Blind sided by this.
Bush tried to reform the Lending rules under the CRA but Barney said Fanny and Freddie were good.
As an example, Lets use Gold. Two years ago I stopped buying Gold because the Price was getting too high for me. Lots of other people kept buying. Today Gold is over 1400. Is that Real value or just a Speculative Bubble?
The same could be said of the housing market. People were buying Homes not with the Idea of having a home to live in but because of Speculation. When the Bubble burst who’s fault was it? People’s own greed put them in a bad situation. But, Congress bailing out the Housing Industry not only cost the Tax payer Billions But actually has slowed the recovery of the Housing market by years if not decades.
My more immediate concern is whether 401K’s and other savings will be seized. Inflation is another way to Rob people.
I could cash it all out and pay the taxes (I am past the age to pay a Penalty) But then where would I put the money if Bank accounts are Not safe? Land and Hard Goods come to mind. Land certainly is not liquid But certain goods may be bartered.
Just my opinion and you know what they say about those.