April 15, 2021 - 9:00 pm
People have short memories, and the mass media are no help at all. Pasting a label on things obscures reality. The “Great Recession” was caused by government inviting lenders to make unwise loans. Well, here we go again.
So what’s going on with housing now? Well, the plain fact is that our politicians have valued showering their constituents with money more than preserving the integrity of the dollar. As they well know, creating money in the trillions dilutes the value of the dollar. Houses don’t cost more, your dollar buys less. As the money shower increases, the lack of dollar value will show up at the gas station, grocery store and, in fact, everywhere.
Members of the political class don’t care at all. Their assets rise in price and they likely have no idea what gas and groceries cost. Being rich, they couldn’t care less.
And, yes, the country’s going to hell in a hand-basket.