The total freak show of an economy we live in continues to have people on the edge of their seats awaiting yet another housing collapse.
The political class is currently devising new ways to control people’s economic activity. They’re operating under the premise that they can centrally plan the economy into prosperity.
However, economic intervention is one harsh mistress in how it comes with massive unintended consequences that do massive damage to society.
The problem with economic intervention
Take for example central banks. The creation of central banks is justified on the grounds that these institutions will stabilize the broader economy and prevent recessions from occurring.
Moreover, central banks help fund massive government programs through money printing.
While the big spending party continues apace, in the background, the specter of inflation looms ominously.
We’re already witnessing that play out in the present as inflation erodes the savings and purchasing power of America’s vaunted middle class. As millions suffer, a select few elites benefit handsomely from the freshly printed money.
That’s how things roll in the rigged political economy that we are forced to live under.
Nearly all facets of human life are under the government’s control or at least are tampered with via state intervention.
Housing has been no exception to this trend.
You see, the government has taken a massive interest in housing since the New Deal era and used all of its levers of power to prop up housing markets and even try to increase home ownership.
While these policies may have appeared to have worked in their initial stages, the government’s multiple decades of intervention in housing markets finally blew up in the United State’s face during the housing crash of the 2000s.
In typical fashion, the media and intelligentsia blamed free markets for this crisis, when a combination of easy money and government meddling in the housing sector created this mess.
To this day, policymakers have not learned the lessons of the aforementioned housing crash.
And now a new housing collapse crisis could strike the US.
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