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Op-ed Placement

The Real Housing Market Crash Villains

BY Stephen Moore and Larry Kudlow
05/29/2016
Originally Published in The Washington Times by Stephen Moore and Larry Kudlow on 5/29/16.

I’m going to reveal the grand secret to getting rich by investing. It’s a simple formula that has worked for Warren Buffett, Carl Icahn and all the greatest investment gurus over the years. Ready?

Buy low, sell high.

It turns out that Donald Trump has been very good at buying low and selling high, and it helps account for his amazing business success.

Now Hillary Clinton seems to think it’s a crime. Campaigning in California last week she’s wailed that Mr. Trump “actually said he was hoping for the crash that caused hard working families in California and across America to lose their homes, all because he thought he could take advantage of it to make some money for himself.” She’s assailing Mr. Trump for being a good businessman — something she would know almost nothing about because she’s never actually run a business, though she did miraculously turn $1,000 into $1 million in the cattle futures market many years ago. Her new TV ads say that Mr. Trump predicted the real estate crash in 2006 (good call) and then bought real estate at low prices when the housing crash came in 2008 that few others foresaw. Most builders went out of business during the real estate crash, Mr. Trump read the market perfectly and profited off of others stupidity and greed.

What is so hypocritical about the Clinton attacks is that it wasn’t Trump, but Hillary, her husband, and many of her biggest supporters who were the real culprits here.

Before Hillary is able to rewrite this history, let’s look at the many ways the Clintons and cronies contributed to the Great Recession.