A concise review of how we got so screwed up ten years ago in the housing boom and bust. Very clearly written. So clear that it is easy to understand how Obamacare got passed and how the student debt bubble occured. Politicians just can't help but offer "free" stuff that someone else has to pay for. I can't understand why voters always get caught in these politician's scams, having to pay for bad decisions by home buyers that couldn't afford the homes they tried to buy or "free" medical care they don't have to pay for or "free" colleges that are far from free. Every time the government tries to help someone without regard to sound market practices they distort the market and the person who thought they were getting "helped" ends up the loser along with the taxpayer. Pretty lame but Mr. Sowell nails it perfectly.Read full review
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Exactly what conditions and circumstances caused the financial crisis of 2008/9?? What or who caused the housing bubble and housing burst? Was it lack of regulation, or too much regulation? Was it the bankers or the politicians? Was it the community organizers, the myth of affordable housing, the bundling of securities, or what?? The answers are spelled out here in detailed and compelling, but simple, argumentation. They are probably not what you thought, and not what you have been told, but they are the truth. Know the truth, once and for all. Thomas Sowell is a genius.
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