Of what had happening today that because of the economic crisis that we have to face it right now this simply be an adjustment of the American citizen to the view of the economic crisis that it might happened in the past years they may considered as one of the moments that they have to with. Fortunately, we have access to a payday loan when hard times hit. Other times it is not that easy. The federal housing authority is in need of more employees. It appears the FHA does not have enough resources to properly screen lenders. This could create something disastrous in the future. If the FHA can’t tell shady lenders from legitimate ones, we will end up fighting another round with predatory lenders and home foreclosures as a result. How can the FHA repair the mortgage crisis when they are obviously in need of reform? Housing markets, especially in places like California where home values are down, are going to need a huge payday loan, a stronger HUD enforcement, and more FHA appraisers who actually meet the requirements to get the housing crisis under control. I think the Obama administration should definitely use a part of the TARP funds to straighten this mess out. You can find out more about what’s going on in the housing market from this article on the payday loan money blog at PersonalMoneyStore.com.

As if these videos were stating something new that all of us were not already aware of. Politian's exist for one reason and one reason only which is at some time in there life to benefit from there position and fill there pockets with undeserved funds.

Besides these excellent points about the CRA, it has to be added that the artifically low interest rates from 2001 onwards added gasoline to the fire. That's of course the work of another non-free institution, the Fed, with the stated political purpose of keeping the economy from a recesssion.

Why keep the economy from having a recession? Recessions are healthy, they make people rea*ses the things they are doing, the projects they engage in, and the profitability of their activities. Marc Faber (check his YouTube videos!) said of this:

"If you never have a recession, it's like someone who never sleeps"

We all know what happens to people who take every possible stimulant to keep away and and maximum power: They become erratic, make serious mistakes, and may eventually come down with a car crash or cardial arrest, simply.

Similar things goes for the economy. We had the artificial stimulus of absurdly low, non-market interest rates. That caused a huge credit bubble. When that burst due to rates being normalized, the bubble burst - naturally. Unfortunately, instead of accepting the recession, we now have artificially low interest rates again - and stimulus packages on top of this. This is the road to complete economical disaster.

Back to the 'Why?':

My take is that honesty about economics would obliberate our confidence in the political elite. That would be healthy for us, but bad for The Elite. I see no other rational explanation - but suggestions are welcome.

I should add some more about why the artificially low interest rates are poison for the economy - they encorage high-risk economic practices and discourages prudence. International Herald Tribune had a great article about the mechanics here:

http://www.iht.com/articles/20...9magic.php

Once the basic mechanisms are understood, applying that knowledge to current government actions and proposals becomes a fairly trivial excercise for the reader

duh!
http://video.google.com/videoplay?docid=7535755025025800195

duh!
http://video.google.com/videoplay?docid=7535755025025800195

very informative and got me thinking however i still think there is more to the economic crisis than was mentioned here!