Joe Scarborough Ron Paul Economy housing bubble paris
Joe Scarborough on Morning Joe: Interview with Ron Paul. Joe
is talking about his new book, “The Last Best Hope”. And how Joe is “STUNNED” about a warning Ron
Paul had made in Banking committee so he reprinted it in its entirety. “The special privileges granted to Fannie and
Freddie has distorted the housing market by allowing them to attract capital
they would not be able to attract under pure market conditions. Like all artificially created bubbles the
boom in housing cannot last forever. When Housing prices fall the home owners will experience difficulty as
their equity is wipe out furthermore the holders of the mortgage debt will also
have a loss, these losses will be greater than they would have been had government
policy not actively encouraged over investment in housing.” Ron Paul address to the house Sept 10, 2003
Joe to Ron Paul, “How is it that you knew this in 2003 and
no one else knew it?” Ron Paul “Most
people in Washington only know about the Keynesian economics, they do not even
know about Austrian Economics “
