News from CNBC.
Congress, at the eleventh hour, passes an extension of the closing date on the home buyer tax credit.
My view.The housing lobby is the power group largely responsible for the mess we are in. They convinced the politicians everybody needs to own a home -- even if they do not afford it.
They keep pushing the political levers to generate more business. People ask. Politicians give our money to the most influential power groups. This is how the world works. Until the system falls under the weight of debt, government bureaucracy, and regulations.
Just look around you. We are running desperately trying to fix yesterday's problems. But the influential power groups remain more dominant as ever.
There is nothing we can do about it. Until the crisis forces us to start from scratch. We are close to that point in time as I discuss in my The Peter Dag Portfolio.
This is the real lesson of history. This is the reason we do not learn from history. Because it is not in the interest of the influetial power groups of the time.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
Disclaimer.The content on this site is provided as general information only and should not be taken as investment advice nor is it a recommendation to buy or sell any financial instrument. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.
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