Re: Economist nonsense Soc.Sec. and houses

"Mason C" <masoncXXX@[EMAIL PROTECTED]
> wrote in message 
news:pbgci41hlakqbrlsfmbctj1coep9da1df2@[EMAIL PROTECTED]
> Two distinguished, elderly economists on tv tonight.
> One said Social Security is "not adequately funded"
> Hell, it's not "funded" at all.  Does he really not know that?
>
> =======
>
> The other (Robert Solow on the News Hour)  said the collapse was
> "set off primarily by... the overbuilding of houses."
>
> That is *nuts*.
> There was no "overbuilding" of houses.  The houses were occupied.

   Around here there are quite a few housing developements that sit,
houses 
empty, never having
   been occupied.  So I can agree somwhat. The construction industry was 
building communities
   here faster than they could be sold, mostly luxury homes. And with a 
housing glut, these homes
   and other were sold to people who could not afford them.  All it took
was 
rising gas prices, and
   spiraling credit card debt to start the downfall of the US economy 
rolling.


>
> We, whoever we are, believe in home owner****p.
> There were not too many houses built.

  That is a matter of location and opinion... many  of the wrong type of 
homes were built. A large
  amount of luxury homes were built, when what was needed was affordable 
homes.

>
> True... the financing of many houses was done badly.
> That is *not* an "overbuilding" of houses.

Financing was done badly, along with building to rapidly...

> That is a failure of the unregulated free market -- overselling and
> in many cases outright deception if not criminal fraud.
>
    I was not really overselling, selling is positive unless you sell to 
people that can not really pay.
    And that is what was done by the market that was trying to make a 
commission selling homes
    to folks that really would not qualify.

> In fact, one way or another, the houses vacated will one day
> be again occupied and there will again be a need for more houses.
> The sooner the better.
>
     Houses will be sitting vacant for a while I believe...
>
> Mason Clark
>
> *Greater America in the Age of Rebellion*
> http://frontal-lobe.info/greateramerica.html
> -- many excerpts you can see --