The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on a limb. They've brought it on by highly restrictive building policies, which have caused housing prices to skyrocket artificially. And they've brought it on by the Community Reinvestment Act, which presumes that politicians are better able to tell investors where to put their money than the investors themselves are. When you put all that together, you get something like what you have.
Thomas SowellSometimes it seems as if there are more solutions than problems. On closer scrutiny, it turns out that many of today's problems are a result of yesterday's solutions.
Thomas SowellIn politics, the truth is strictly optional and that also seems to be true in parts of the media.
Thomas SowellHow much more of an injustice is it that people who work get more money than people who don't work?
Thomas SowellIt is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.
Thomas SowellDeep thinkers who look everywhere for the mysterious causes of poverty, ignorance, crime and war need look no further than their own mirrors. We are all born into this world poor and ignorant, and with thoroughly selfish and barbaric impulses. Those of us who turn out any other way do so largely through the efforts of others, who civilized us before we got big enough to do too much damage to the world or ourselves.
Thomas Sowell