Pirate's Cove

Previously, they wanted to kill the obscenely rich. They do not want to kill them today, but, they are bad

Who is to Blame for the Mortgage Carnage and Coming Financial Disaster? (Roubini)

Wow, Roubini's on a roll! For those who don't know him, he has been (pessimistically or accurately, depending on one's POV) predicting the housing bubble and resulting recession for quite some time, often in "doom and gloom" terms. In his latest entry, he talks in great detail about the pending economic and housing bubble that is now starting to appear. Normally I'd post this in the economy forum, but this should probably get bigger play, as he ties it in with the neo-cons and supply side economic theory. I think he's had this essay in his back pocket for a while, waiting for events to unfold.

So, who is at fault?

• Wanna Bet Freepers Blame Clinton? Personally, I blame greedy bankers and this administration. (no hypocrisy there, eh?)
• Bankers are herd animals. In fact, capitalists in general are herd animals. Whenever they see a chance to get a better ROI, they scramble for it. Then, when the bust comes, which it always does, they look around bewildered and wonder what happened.

  The economy is too important to our lives and well-being to be left in the hands of herd animals. (like progressives?)

• true capitalists are not herd animals…quite the opposite. the people you mention are not really capitalists. They're corpratists. There is a big difference, IMO.

  I am a capitalist. I believe in providing a quality service/product for a fair price, and I stand by what I provide. These guys who make money by gaming the system are thugs and thieves, IMO. They produce nothing. They offer no service. Quite the opposite. They game the system to make the service unnaturally more expensive.

  They are swindlers, they are crooks. (sounds exactly like the Democratic Party)

• I'm a realtor and I agree – seen this coming for long while – Hope I can ride out the next couple of years in this business, till it turns again, but still won't be the same market as before. (how many of those evil bankers and mortgage lenders have you dealt with?)
• It's just a high-class pyramid scheme…The investors are always playing with someone elses money. (exactly like the Democratic Party)

I have to wonder: do they realize that the sugar daddy of the progressive movement is exactly the type of person that they hate? Remember, George Soros made his money by engaging in currency speculation, possibly the worst example of predatory investment. He bets that a county's currency will go down, and, because his is the top dog in this, when he speaks, he can actually make that happen. Remember when he took the Bank of England down in 1992? And how about when he was playing with the economies in Asia? Thai nationals have called Soros "an economic war criminal" who "sucks the blood from the people."

Another DUmmie thread to keep an eye on is this one, on Muslims liberating Jeruselum.

Trackposted to Outside the Beltway, Blog at MoreWhat.com, Perri Nelson's Website, Mark My Words, basil's blog, DragonLady's World, The Amboy Times, The Bullwinkle Blog, Conservative Cat, Conservative Thoughts, third world county, Faultline USA, Wake Up America, Walls of the City, The Pink Flamingo, Dumb Ox Daily News, and High Desert Wanderer, thanks to Linkfest Haven Deluxe.