The Socialization of the Mortgage Business

“Housing, Inflation both getting worse,” says a headline at MarketWatch. The price of oil held steady yesterday - in the face of Saudi plans to pump another 200,000 barrels a day. The dollar held steady too. And the yield on the 10-year note rose to 4.24%. Gold jumped $13. Unless you own an oil well or a goldmine, it has been a bad year. Out of the world’s 52 leading stock markets, 49 are down for the year. Ireland, for example, has lost 15% of its equity market value. Vietnam has been crushed…everyday is a down day in Hanoi. In the United States,…