THE RUGGED INDIVIDUALIST                     

Housing Crisis

The great recession is the direct result of government intervention. When President Clinton signed the add ons to the community reinvestment Act in 1995. Banks were forced to give loans to people they would not otherwise give loans to. This created a housing bubble. When the Glass -Steagall act was repealed by President Clinton in 1999 this allowed investment banks to merge with commercial banks. This caused a flood of money from Wall Street to go into home loans. Home loans that would eventually default. This was not a surprise. Of course housing would shoot up, of course it would crash taking down the economy with it. But politicians can't see past the next election. Our government is supposed to protect our liberty not sell it to Wall Street. There's a big difference between collusion with the government and Wall Street versus capitalism. Capitalism is where you have the choice of where you spend your money. The recession was caused by the government telling banks who to give loans to. After all they would get a bailout. Capitalism is not special interest groups taking advantage of their corrupt relationship with Washington. We need a small government that will get out of the way so we can prosper.
Note: you might ask yourself if this website is libertarian and wants limited government, why would they want the Glass-Steagall act reinstated?  Sound money is at the cornerstone of any government. Mixing commercial and investment banking is insanity. It's like an alcoholic owning the liquor store.

The following video is a Hitler parody. But I think a lot of the people in America will find this funny. In a  "I lost my house because of the recession kind of way"