Fannie and Freddie Nationalized

No surprise here. I’ve been predicting this for some time. The question is whether or not the housing and credit crisis will be resolved by the expected government bailout. I predict it will not be. Paulson and Bernanke also have their eyes on the stock market since it is tanking so badly. Inevitably when government gets involved in this stuff they only make it worse. Read about John Law and fiat money in France. This is also the story of the Great Depression. Hoover’s attempts to “fix” things only made matters worse. When both presidential aspirants and both parties agree on something, you can be sure more disaster is coming.

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