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The Bankruptcy of the Mixed Economy

Today’s economy faces a long list of problems. We hear daily about high gas prices and inflation, of a battered stock market, of a growing number of people unable to afford their mortgages, even of banks failing and huge companies facing bankruptcy. What explains this predicament? According to editorials, congressional speeches and opinion polls, the […]

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Mixed Economy, Decisively Bad Results

The Wall Street Journal recently ran an excellent editorial examining the bad business and corruption that arises “when you combine private profit with government power.” Created by an act of Congress in 1938, Fannie Mae is a government sponsored enterprise (GSE) that owns or guarantees nearly one half of the $12 trillion US mortgage market. […]