Tuesday, December 4, 2007

The race pimp is now in the housing bidness

Jesse Jackson, having been out of the spotlight for 12 minutes, has found a new cause: the "victims" of subprime. So to get back into the spotlight he will have a march on DC. What will CNN title the 24/7 coverarge I wonder? "The Million Deadbeat March"? "I have a Dream That I'm Not Broke March? " The fact this charlatan, even has a platform to speak anymore is disgusting. The fact politicians listen to him is bizzare.

I wonder though why Jesse and Hillary and ACORN and every other fringe lunatic left group isn't excited about the housing crash. You hear constantly from these groups about the need for "affordable housing". Well OK, here you go. When prices for home fall they become more A-F-F-OR-D-A-B-L-E. Every scheme they propose - which will all fail - aim to keep house prices artificially expensive by allowing people who can afford $X the ability to buy a house at $2X. It makes no sense at all. However in their defense I think they just may well be so incapable of understanding logic, that they really don't see what they're doing as contrary to their cause.

And on the same note...why is housing the only commodity that is celebrated when its value surges? When gas increases 100%, people act like a relative just died. Nobody has a party when the price of wheat doubles. Or when the price of coffee or sugar doubles. Yet for some reason when housing doubles in prices, it is time to party. Sure if you own a home and it doubles in price it's wonderful (I should know). But from a macro standpoint, housing booms are awful. It makes people spend a huge percentage of their income on housing. It makes the economy inefficient as that extra capital is not invested in more efficient ways. And yet a baboon like Jorge W. Arbusto celebrates that illegal aliens are buying $700K homes on $20K a year salaries.

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