Quote of the day

In other news, it would appear that the “Conservative” party believes that the housing market in the U.K. is insufficiently distorted and in danger of reverting to market principles. To prevent that, the new budget contains provisions to assure that there will be malinvestment, bank bailouts, and direct state losses from mortgage defaults for years to come.

I confess to being impressed. It is normal for politicians to fail to learn from history, but here they’ve managed to forget even 2008. Well done, gentlemen, well done!

Perry Metzger

 

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