Group spends millions raised online building border wall on private Sunland Park property

[utep2step]

I guess I'm a little confused...

I read up on the Keating 5 scandal, as I was unaware of it. Basically McCain (among with 4 other Democrats) were given substantial campaign donations, and in return they encouraged the FHLBB to back off on investigating Lincoln Savings and their improper investment practices. It's maybe a small part of a larger problem, but not the actual issue we're discussing.

The federal gov't did indeed spur the collapse by backing GSE's and encouraging risky loans. This is indisputable. Loans were not so easy to come by when private entities risked total collapse if their risky investments didn't pan out.

There's a nice video where Frank, Obama, and others chastised certain lawmakers (including mccain) who were sounding the alarms of this practice. I just did a quick vid search and found this, but there's some better one's out there.

You are correct, though. We are in the midst of another bubble. Where I live, I rented a decent ~500/600sqft apartment for about $800/mo 5yrs ago. That same apartment is 1,400/mo right now. The housing prices have increased at the same rate. Another correction is coming, and this one may actually be worse than 08...

View embedded media

It's all fiat.

 

[MineroFanatico]

A synic might say the private sector capitalizes on public funds by rubbing elbos and catering to politicians worst traits in order to gain favor in contract bids. How often does it happen? All the time. Its the biggest of corruptions in our society. But they'll never build a wall between politics and free enterprise. "They call it the American dream because you have to be asleep to believe it."

But what might a cynic say?

 

[jdubb66]

But what might a cynic say?

A cynic might just have a cigar and a scotch and not say anything.

 

[utep2step]

The new way of investing has supplanted over one thousand years of banking. Major economic collapses have happened in America about every 80 years. Expect another one in 10 to 15 as our love for deregulation speeds up the clock. When I was taking economics at UTEP, "regulation" and "gov't subsidies" were foul language but they stayed away from "voodoo economics" (trickle down). The pendulum has fully swung the other way and something must be done by the feds or a damn civil conflict is inevitable.
https://m.greenwichtime.com/business/article/A-new-credit-bubble-gets-ready-to-burst-13911193.php

 

[JCorona]

Make sure the wall is also built underground or else it becomes useless.