Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of … - Walter E. Williams

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Be cautious and content with low positive returns in 2015. The time for risk taking has passed.

Walter E. Williams

Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. . . . The credit crunch and foreclosure problems are failures of government policy.

Crunch, Debt, Government, Mortgage, Pundits, Want

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But let me offer you my definition of social justice: I keep what I earn and you keep what you earn. Do you disagree? Well then tell me how much of what I earn belongs to you - and why?

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I prefer a thief to a Congressman. A thief will take your money and be on his way, but a Congressman will stand there and bore you with the reasons why he took it.

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Three-fifths to two-thirds of the federal budget consists of taking property from one American and giving it to another. Were a private person to do the same thing, we'd call it theft. When government does it, we euphemistically call it income redistribution, but that's exactly what thieves do - redistribute income. Income redistribution not only betrays the founders' vision, it's a sin in the eyes of God.

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There are people in need of help. Charity is one of the nobler human motivations. The act of reaching into one's own pockets to help a fellow man in need is praiseworthy and laudable. Reaching into someone else's pocket is despicable and worthy of condemnation.

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When the history of the 20th century is finally written, one of its key features will be the wanton slaughter of more than 170 million people, not in war, but by their own government. The governments that led in this slaughter are the former USSR (65 million) and the Peoples Republic of China (35-40 million). The point to remember is that these governments were the idols of America's leftists. Part of the reason for these and other tyrannical successes was because the people were first disarmed.

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