I just got a phone call from a producer at Fox Business News
by Tom on October 9, 2008
in Market Musings
and he asked me a question that is good for discussion.
Here’s what he said, “There is pretty good evidence that the issue started with housing. Is there something the government can or should be doing to “put a floor” in the housing market as a way to stop this crisis?”
We’re going to be talking again next week. I’m curious, what do you think?
Let me know, either in the comments or e-mail me privately.
Tom:
Wow, what should the government do about this? How about staying out of our business (literally). The government was a HUGE contributor to the problem and now we are “entrusting” our government to fix the hell they, and greedy business people, have made.
I would highly recommend that Fox Business News Producer read the following papers:
1. http://www.fff.org/comment/com0802b.asp
2. http://www.fff.org/comment/com0801j.asp
3. http://www.fff.org/freedom/fd0801g.asp
There are many more on that site that speak about why the things have gone the way they have. I’m not some anti-government nut but the proof is in the pudding.
I know exactly what the government can and should do- absolutely nothing. The market will correct on its own. Interfering with that will do nothing but give an artificial adjustment.