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Bailing out people who made ill-advised mortgages makes no more sense that bailing out people who lost their life savings in Las Vegas casinos.

Thomas Sowell

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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Makes
Advised
Made
Mortgage
Life
Savings
People
Vegas
Ill
Saving
Bailing
Lost
Mortgages
Sense
Casinos

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All statements are true, if you are free to redefine their terms.
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In the wake of the housing debacle in California, more people are buying less expensive homes, making bigger down payments, and staying away from 'creative' and risky financing. It is amazing how fast people learn when they are not insulated from the consequences of their decisions.
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People who decry the fact that businesses are in business just to make money seldom understand the implications of what they are saying. You make money by doing what other people want, not what you want.
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Ideas are everywhere, but knowledge is rare.
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The government does not have some magic wand that can 'bring down the cost of health care.' It can buy a smaller quantity or lower quality of medical care, as other countries with government-run medical care do.
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Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.
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Nobody is equal to anybody. Even the same man is not equal to himself on different days.
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Creating whole departments of ethnic, gender, and other 'studies' was part of the price of academic peace. All too often, these 'studies' are about propaganda rather than serious education.
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One of the most important skills for political success is the ability to make confident assertions of absurdities or lies.
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