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Is More Debt the Key to the American Dream?

Some lawmakers think that the way to the American Dream is to load up on more debt at the top of the housing cycle.

Consider H.R. 898, the Credit Score Competition Act introduced into Congress by three Congressional Representatives. It would direct Fannie Mae and Freddie Mac, the two government sponsored entities (GSEs) that guarantee 90% of the mortgage loans in the United States, to lower credit standards for mortgage loans.

“Alternative credit score consideration by the GSEs is a win-win: it opens up the market in a responsible manner for those qualified to buy a home and eliminates the government-backed monopoly in credit scoring. That’s why the Credit Score Competition Act has garnered such strong bipartisan support,” said sponsor Rep. Ed Royce.

“Alternative credit score” is just a misleading obfuscation of the term “low credit standards.” Kind of like “alternative facts”. (more…)

The Thirty Dollar T-Shirt

I checked out my closet to see where my clothes were made. My shirts were made in Vietnam, China, Peru, Honduras, Nicaragua, El Salvador, Dominican Republic, Mauritius, Singapore, Thailand, and Turkey. My Levi jeans were made in Bangladesh, India, and Mexico. I couldn’t find any clothing made in America. Maybe I didn’t look hard enough. At Costco you can get a very nice all cotton t-shirt made in Peru for $12.

Think about all the jobs lost because of these cheap imports. If Costco was truly patriotic why don’t they buy American made clothing? Wouldn’t that keep jobs in America? Trump says that China and Mexico are stealing American jobs. (more…)

The Mind of Donald Trump

One can see President Trump as a decisive leader who takes bold action to move the country forward. Or, one can see him as a leader blissfully ignorant of the consequences of his actions.

I choose the latter interpretation.

I am reading about the consequences of his edict to ban entry to people from the seven prohibited countries. This is just one edict among many that are bold and reckless. These actions reveal a pattern to his decision-making.

There are six elements to President Trump’s thought process: (more…)