Tips and tricks to turn you into a faster, smarter web designer
Keeping it simple.
A glimpse at what we might be in for as the housing bubble bursts and real estate prices correct themselves.
Some kids skating one of my dad’s parks — Lions Den Skate Park in Fresno. Kinda cool to see all the videos.
INTRODUCTION: Ownership of Federal Securities
Ever wondered who exactly owns our national debt? Turns out, as of June ‘08, about 49% ($4.7T) is held by the federal government itself. Among the rest, about 27.9% ($2.6T) is held by foreign governments: a big number, but smaller than I expected. Also interesting: fully 5% of our debt is in the hands of state and local governments, another 4.9% in mutual funds, and that’s $1T right there.
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NPR: Paulson, Bernanke Under The Microscope
Commentary: Bankruptcy, not bailout, is the right answer - CNN.com
So what should the government do? Eliminate those policies that generated the current mess. This means, at a general level, abandoning the goal of home ownership independent of ability to pay. This means, in particular, getting rid of Fannie Mae and Freddie Mac, along with policies like the Community Reinvestment Act that pressure banks into subprime lending.
The right view of the financial mess is that an enormous fraction of subprime lending should never have occurred in the first place. Someone has to pay for that. That someone should not be, and does not need to be, the U.S. taxpayer.
So what should the government do? Eliminate those policies that generated the current mess. This means, at a general level, abandoning the goal of home ownership independent of ability to pay. This means, in particular, getting rid of Fannie Mae and Freddie Mac, along with policies like the Community Reinvestment Act that pressure banks into subprime lending.
The right view of the financial mess is that an enormous fraction of subprime lending should never have occurred in the first place. Someone has to pay for that. That someone should not be, and does not need to be, the U.S. taxpayer.