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Lessons unlearned

I guess the new Obama financial regulation plan has provisions for even more lending to non-Asian minorities (NAMs). Will we even be able to blow up another bubble based on NAM lending in the period between 2000-2006, or are too many overseas investors going to steer clear of the securitized mortgage products we sold them before? My guess is the latter. I guess what will happen is that too-big-to-fail Citi and other groups will continue to make bad loans, which will continue to be guaranteed by Fanny and Freddie (also too-big-to-fail), and somehow we'll try to pay for the black and Mexican housing starts with more running of the printing presses. That would probably complete our South Africanization. Our first Mexican president started it, our first black president will complete it. Viva la republica Weimar!

Posted on Thursday, June 18, 2009 at 06:50PM by Registered CommenterPRCalDude | Comments1 Comment

Reader Comments (1)

I think this is even more insidious than simply printing more money.

We're witnessing an experiment in implementing Marxist social ideologies within our larger Democratic/Capitalist culture. We're trying to keep the best of both worlds by promoting some type of Democratic Marxism.

And.. where have we seen (how may times have we seen) this type of government/social ideology fail?

Yet, after all the failures, someone keeps experimenting hoping the next time it will work.

June 19, 2009 | Unregistered CommenterLawrence

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