DC Housing Bear

Options Trader: Tough-Decisions Tuesday

I don't think so. This country can use a little dose of fiscal discipline. I think I speak for a lot of people when I say home prices should be allowed to find the bottom without government intervention, the stock market should be allowed to drop to a more reasonable valuation, insolvent banks and companies should be allowed to fail and irresponsible borrowers should just declare bankruptcy or walk away from their homes and rent LIKE ME. There will be several years of economic dislocation, but those who have savings and live frugally will be rewarded with lower asset prices all around, a healthier economy and more sustainable economic growth going forward. The government needs to reduce the federal deficit by slashing entitlements, eliminating wasteful subsidies and getting rid of useless government programs. Fannie and Freddie should be dismembered and privatized so as to not be able to hurt anyone ever again. Oh, and we should abolish the Fed. Finally, people just need to be able to live without their McMansions and SUVs. Is that so terrible?

Enough with the government bailouts, the only road that leads to is the mother of all bailouts that will finally sink the entire system, in fact, maybe we're already there. We cannot continue to privatize profits and socialize losses. It's time for this country to take its medicine and I don't see any better time to do it than now.

So I guess what I'm trying to say Phil is, STOP YOUR WHINING. The government is not there to guaranty that you make money trading options.