Wednesday, December 19, 2007

I think I disagree with Greenspan's opinion

So in case you haven't been following the recent pronouncements of the emperor sans clothes, Greenspan's latest opinion on how the government should address the mortgage crisis (which of course, as a side note, Greenspan created) is fairly straightforward. Phrased as simply as possible, it was: the government should take the money from people who are financially responsible and give it to people who are financially irresponsible.*

Now I'm not saying that's an unpopular opinion; in fact, most democrats share that philosophy in all their fiscal policies. I just happen to disagree with it. I tend to think the government should not interfere at all, or if they must interfere, try to reward the people who are responsible and discourage the people who are irresponsible. But that's just my opinion; and in a sea of idiots, I might be a very small minority.

* Alan phrased his opinion as: the government should print money and give it to people who bought houses they knew they could not afford. In essence, this means creating inflation to pay off their bad debts. Inflation, of course, only hurts people who saved their money instead of taking out loans they couldn't pay back to buy things they couldn't afford. So basically, penalize people doing what should be encouraged, and reward people doing what should be discouraged. Maybe he's angling for a position in Hillary's cabinet or something... or he could just be a moron.

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