Dr. Thomas Sowell simplifies the economics of The Housing Boom and Bust. Here's a sample: "Like so many disasters, the current economic crisis grew out of policies based on good intentions and mushy thinking."
Too often, those whose decisions affect our economy pursue goals considering only whether their intentions are good while ignoring the consequences of their actions. A strong economy is agnostic to good or bad intentions, insomuch as regulators' intentions are concerned. As Dr. Sowell notes, it simply does not matter whether those encouraging "homeownership for all" had worthy or unworthy goals.
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