Quote For The Week

Posted by Editor on July 21st, 2008

Posted In: Bailout, Foreclosures, Homeowners, Housing, Mortgages, Quote For The Week

The folks who sat on the sidelines, they should feel legitimately annoyed that the more speculative folks who bought homes they couldn’t afford are going to be bailed out or helped by the federal government… And these other folks [who] acted responsibly and didn’t get in over their heads and decided they didn’t want to buy
the home, they’re not getting any benefit.

-Edward Leamer, senior economist at the University of California and director of the prestigious UCLA Anderson Forecast, on government efforts to bail out homeowners struggling to avoid foreclosure.

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This entry was posted on Monday, July 21st, 2008 at 2:28 pm and is filed under Bailout, Foreclosures, Homeowners, Housing, Mortgages, Quote For The Week. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Quote For The Week”

Ames Tiedeman Says:
July 22nd, 2008 at 5:19 am
Well said!
Editor Says:
July 22nd, 2008 at 10:24 am
Thanks for the comment Ames. Yeah, Leamer had a doozy. Could have gone to Jim Rogers as well:

Well, these are perilous times, in the economy, in the world economy, quite largely because of mistakes that we’ve made in the United States, unfortunately. Ten years ago we had the Asian crisis which affected the world markets. This time, I’m afraid, it’s going to be the American crisis, which is affecting world markets. So be very, very careful about anything you buy anywhere. Certainly in the U.S. including the currency. I think everybody should learn about international diversification, because, I’m afraid, things are going to be better outside of America than inside America. I don’t particularly like saying that, but one has to accept facts, and face facts, if one’s going to survive.

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