Quote

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.

Thomas Sowell

Change background

T
T
T

Change font

TAGS & TOPICS

Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Making
Fast
Homes
Debacle
Away
Consequence
Consequences
Debacles
Home
Amazing
Staying
Insulated
People
Bigger
Buying
Payments
Decision
Expensive
Financing
Creative
California
Risky
Less
Wake
Payment
Learn
Decisions
Housing

More quotes by Thomas Sowell

Image
We're not a socialist country, because the socialists believe in government ownership in the means of production, but the fascists believe that the government should have private ownership and the politicians should tell people how to run the businesses. So that's the route we seem to be going.
Thomas Sowell
Image
In the string of amazing decisions made during the first year of the Obama administration, nothing seems more like sheer insanity than the decision to try foreign terrorists, who have committed acts of war against the United States, in federal court, as if they were American citizens accused of crimes.
Thomas Sowell
Image
Liberalism is totalitarianism with a human face.
Thomas Sowell
Image
Any policy is a success by sufficiently low standards and a failure by sufficiently high standards.
Thomas Sowell
Image
Politeness and consideration for others is like investing pennies and getting dollars back.
Thomas Sowell
Image
The idea that money is corrupting innocent politicians would be laughable if it did not lead to such dangerous legislation.
Thomas Sowell
Image
If increased government spending with borrowed or newly created money is a 'stimulus,' then the Weimar Republic should have been stimulated to unprecedented prosperity, instead of runaway inflation and widespread economic desperation that ultimately brought Adolf Hitler to power.
Thomas Sowell
Image
Life does not ask what we want. It presents us with options
Thomas Sowell
Image
Barack Obama has not only said that he is out to 'change the United States of America,' the people he has been associated with for years have expressed in words and deeds their hostility to the values, the principles and the people of this country.
Thomas Sowell
Image
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.
Thomas Sowell
Image
Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.
Thomas Sowell
Image
Even the Soviet Union, with its huge nuclear arsenal, was a threat that could be deterred by the prospect of retaliation. But suicide bombers cannot be deterred. They can only be annihilated - preemptively and unilaterally, if necessary.
Thomas Sowell
Image
What makes it possible for politicians to do so many things that are economically counterproductive is that neither the public nor the media know enough of the basics to understand what's wrong with what they're saying.
Thomas Sowell
Image
If you believe in equal rights, then what do “women’s rights,” “gay rights,” etc., mean? Either they are redundant or they are violations of the principle of equal rights for all.
Thomas Sowell
Image
The demands of unbounded individualism need to be weighed in the light of inherent social constraints which can only change their form but cannot be eliminated without eliminating civilization.
Thomas Sowell
Image
Those government officials who want more power are not going to stop unless they get stopped.
Thomas Sowell
Image
Morality, like other inputs into the social process, follows the law of diminishing returns- meaning ultimately, negative returns. People can be too moral.
Thomas Sowell
Image
People used to complain about 'the idle rich.' But the idle rich did not do the kind of harm being done by today's busybody rich, who feed their own egos by bankrolling political crusades on the left which hurt the very people that the left claims to care about -- working people, minorities, and children.
Thomas Sowell
Image
If you want to get each individual's honest opinion, you don't want that opinion to be influenced by others who are present, much less allow a group to coordinate what they are going to say.
Thomas Sowell
Image
Those who cry out that the government should 'do something' never even ask for data on what has actually happened when the government did something, compared to what actually happened when the government did nothing.
Thomas Sowell