Wednesday, January 16, 2008

Michelle Malkin needs a man; Leftist proposals prolong housing market crisis

Not literally. I, too, was disappointed to discover what she really meant:

Michelle needs a man

"I need a man. A man who can say “No.” A man who rejects Big Nanny government. A man who thinks being president doesn’t mean playing Santa Claus. A man who won’t panic in the face of economic pain. A man who won’t succumb to media-driven sob stories.

A man who can look voters, the media, and the Chicken Littles in Congress in the eye and say the three words no one wants to hear in Washington: Suck. It. Up."

In fact, she has presented the only solution (not only to the real estate bubble collapse, but to the entire economy). All of these "stimulus" packages not only are going to create further federal debt and erode our currency and our future, but they are delaying the real solution - a price correction.

By bailing out the homeowners, the government is delaying the inevitable drop in prices and preventing market forces from working. If prices could drop from the ridiculous levels to which government sponsored currency inflation has driven them, those of us who have saved our money could snap up some deals. The new mortgages would reflect actual values instead of inflation inspired fantasies. The sooner we endure the pain, the better. The sooner that the fools among us lose their properties or write off inflated mortgage values (or some combination thereof), the sooner that the thrify among us can be rewarded for our thriftiness. The price correction would have the added benefit of allowing the normal volume of sales to go forward, instead of this stalemate that has resulted from expectations of bailout or a vain attempt by individuals to hold on to unrealistically expensive homes.

All of us are going to have to go back to square one to counter the "stimulus" propaganda over the next few months. If the idea of a price correction scares you, take a look at the following short, simple books.

By educating yourself now, you are preparing for the onslaught so that you won't find yourself swept up by "stimulus" hysteria. Learn the basics so you can be the man Michelle wants you to be.

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