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Marie Cocco: Hot air expended trying to stop recession only fuels political fires
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It would be too much to expect that they admit that the people, left to themselves, would have solved things unassisted, by doing what they are doing: getting out of debt, not spending what they don't have, cutting back on everything they feasibly can etc. Let prices drop; if EVERYTHING costs less then it all works out.
Let people buy homes they can afford, or wait, and let the inflated prices that realtors, flippers and bankers love correct themselves. Meanwhile let people buy smaller homes, and let the building trade manufacture them.
Gougers, in business and finance, get excited when prices are high and people are spending recklessly and buying expensive credit. The government, with its insane 'solutions' including, and especially, Keynesian 'bailout' schemes adds to the problem, by inflating the economy and attempting to bleed tax turnips, as do the giddy part of the public who can't or won't do basic math before they commit themselves to bad bargains.
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Obviously the administration knows that cutting taxes would pull us out of this recession. History has proved it over and over. But like FDR, they consider this as an opportunity, (right out of the mouth of Obama) to make radical changes in the country. They are not going to let this opportunity (confusion and crisis) to push their agenda go unused. You will see much hand wringing and "feeling your pain" from the administration but no change. Obama wants that "community" he worked for to get a check and he doesn't care if that cripples the rest of the country.