Fairness' is one of the great mantras of the left. Since everyone has his own definition of fairness, that word is a blank check for the expansion of government power. What fairness means in practice is that third parties -- busybodies -- can prevent mutual accommodations by others.

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.

Rhetoric is no substitute for reality.

People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one-tenth of the knowledge of all of the average persons put together. In this situation, for the intelligentsia to impose their notions on ordinary people is essentially to impose ignorance on knowledge.

The political left has been weak on protecting society from criminals for more than two centuries.

You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth - and that future wealth is less likely to be produced when people see that it is going to be confiscated.

One of the most important skills for political success is the ability to make confident assertions of absurdities or lies.