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All governments are armed robbers. The only role of the government is to leave us alone, disappear, run away, or die.
I have no sympathy for people worried about not being able to buy a $2m house who in turn do nothing and feel nothing for people less fortunate than they are.
Nor do I. The only caveat I would add is, public assistance for the able-bodied/able-minded should be limited to the "hand-up" type and geared towards weaning people off public assitance when they are abke to sustain themselves. I have seen far too many cases of generational welfare. While this doesn't represent a majority of those receiving aid, it has a corrosive effect on society and clearly undermines the incentive to work and to become self-sufficient.
Ditto for corporate welfare --if a company cannot stay in business without perpetual government aid, then it should be allowed to fail and be replaced by a company with a more efficient business model. Taxpayers are actively subsidizing losers, which hurts our competitiveness and economic health in the long run.
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Let's try to visualize the bursting of the housing bubble. Tell us what are your visions. Tell us how a correction towards normality is good for the economy in the long run.
#housing