Friday, April 24, 2015

Thomas Sowell on Housing and Rent Control

After being a major promoter of evil increases in the minimum wage in Seattle, Socialist Seattle Council Member Kshama Sawant is now on the rent control bandwagon.

Here's Thomas Sowell explaining the consequences of rent controls:

1 comment:

  1. What about the consequences of the Fed buying stocks??control this:

    The Public Is Being Set Up For The Scalping Of A Lifetime

    Over the last three days, we have reported that some of the most important investment voices in the world are more than a little scared about the ravenous appetite for risk playing out in the market, and the fact that they have been ignored is beyond unnerving. Central banks are driving all investment decisions, and what this implies is that they are in this trade so deeply that there is no obvious or practical exit. Richard Brewlow via Zerohedge (link)

    Zerohedge posted an essay by Bloomberg’s Richard Breslow that needs some additional commentary. We already know that western Central Banks have been buying nearly ALL new Government bond issuance for the last 5 years. We know that Japan’s CB admits to buying equities. We know that the Fed sticks huge bids in the market for the S&P 500 eminis in order to trigger massive hedge fund HFT algo buy programs of the big S&P 500 contract. I suspect that the Fed is also buying stocks, which is one of the reasons it is spending million on lobbying to prevent Congress from passing a law forcing an audit of the Fed.

    It’s no secret the Fed is thus pushing up the S&P 500 to new record highs almost on a weekly basis. It has prevented the stock market from undergoing a meaningful price correction now for nearly 4 years.