Just following on from my post below, I run into this piece from the New York Sun. John McCain, who is a self-confessed economics amateur, has been derided for his call for a meeting of the nation's top mortgage lenders as part of a solution to the rise in home foreclosures. He reckons 0% financing will help. Help whom, exactly? Certainly not the bankers, who would be more out of pocket than they are now. Certainly not the borrowers, who would have property at inflated prices.No wonder the economists scoffed at this idea. Has the fat lady finished her song? I'd say it was about time there was a national debate between Ron Paul and John McCain on TV. Then McCain could tell the people of America how he plans to run the economy.
To hell in a handbasket might be one answer!
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