Earlier this 12 months, Ron Paul wrote an article whereby he predicts a collapse of the US housing market. His perspective is exclusive in that he is inserting the blame for this housing market collapse squarely on the shoulders of the Federal Reserve. Check out what Ron Paul needed to say in his article - Do not Blame the Marketplace for the Housing Bubble (Reference One):
"The U.S. housing market, lengthy thought-about susceptible by many economists, is now on the verge of struggling a critical collapse in lots of areas. Commodities guru and hedge fund supervisor Jim Rogers warns that actual property in costly bubble areas will drop 40 or 50%. Mainstream media shops just like the New York Instances are reporting breathlessly about the opportunity of widespread defaults on subprime mortgages."
Whereas Dr. Paul is expressing his issues of an inevitable collapse within the US Housing Market - the thrust of arguments level towards the federal intervention of the Federal Reserve as being the primary supply of the issue. That is fully constant together with his views that federal intervention - of just about any variety - will not be Constitutional. In the identical article (Reference One), Ron Paul considers the Federal Reserve to be too liberal in its lending:
"However capitalism is to not blame for the housing bubble, the Federal Reserve is. Particularly, Fed intervention within the financial system - via the manipulation of rates of interest and the creation of cash - triggered the factitious growth in mortgage lending."
Earlier this week, in an article by the New York Instances (Reference Two), three officers of the Federal Reserve stated that critical issues within the housing market are a risk to the financial system. That is precisely what Ron Paul had predicted a couple of months earlier this 12 months. Though the Federal Reserve does not appear to be blaming themselves for the housing market collapse - I doubt they ever would.
Regardless, it appears the Ron Paul has been fairly correct in his evaluation and prediction of the housing markets.
E Lawrence Welch
Do not Blame the Marketplace for the Housing Bubble
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