Saturday, November 14, 2009
How to Create A Housing Bubble: Thomas Sowell Tells All!
SEE HERE I won't kid you, I'm a very very big fan of Thomas Sowell. I began following him after seeing him on several of William F. Buckley's "Firing Line" shows. He was always quite brilliant, incisive, highly focused and data driven. Those are qualities I really value in analysis. I get really sick of reading analysis that is really just a veiled version of various opinions and prejudices mixed as a toxic concoction with political ideologies and the lock-step mantra of political correctness. Quite a few columnists come to mind that fit that description. Thomas Sowell by contrast is a voice of reason. If you wonder where the housing crisis started there is no better place to begin than reading Thomas Sowell. Dig in and enjoy. The fact is that despite all the spin that it was caused by greed, in fact it was caused by government meddling. When it gets broken, nine times out of ten it is the government that broke it when all the data is unpacked and inspected, whether we're talking about the Great Depression or this recent Housing Bubble. They are well on their way to breaking a lot more and a lot faster.
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