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Monday, September 10, 2007 12:00 AM

This Modern World

A "handy" guide to the housing market, featuring the invisible hand of the free market!
By Tom Tomorrow

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  • Monday, September 10, 2007 07:37 AM

    Not such brilliance, Tom

    This problem does not occur without the helpful intervention of the Federal Reserve, which, in conjunction with fractional reserve banking, creates the ability to flood the world with cheap money, and the patsies at quasi-governmental agencies like Freddie Mac and Fannie Mae, who guarantee they will buy any loan under a certain size. Too bad you had to leave those things out, Tom, but then, it's just a cartoon.

    —scareduck Read scareduck's other letters

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