"These people were not making payments on these houses in the first place and, therefore, they're not getting the new flow of cash...they were not getting anything other the government has decided to pay everyone who cheated on their mortgages 2,000 bucks. The second thing is you are going to reduce the price of houses in the United States where payments were being made because the house next store is seeing the principal balance taken down," he explained.
"This is not a stimulus to the United States economy. It depresses the United States economy."
from business insider...
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