Why do we accept the budget-busting costs of a welfare state? Because it implements the moral ideal of self-sacrifice to the needy. Why do so few protest the endless regulatory burdens placed on businessmen? Because businessmen are pursuing their self-interest, which we have been taught is dangerous and immoral. Why did the government go on a crusade to promote "affordable housing," which meant forcing banks to make loans to unqualified home buyers? Because we believe people need to be homeowners, whether or not they can afford to pay for houses.
Recall how the motive of getting people… as many people as we possibly could into home ownership was advertised as “helping”, “assisting”, “lending a hand”, and “achieving the American dream”, noble pursuits and motives all. Noble that is until these terms were actually used to cover for the true motives of political manipulation of the market in return for political and monetary gain.
More here from the WSJ.
Non-sequitor picture above is yet another shameless attempt to squeeze in desert shots of our trip out to the Anza-Borrego state park on Friday. This particular pic is of Clark (Dry) Lake looking northwest to Rockhouse Canyon. Please click to enlarge.