Peter Schiff on Mortgage Bailout

Tags: Calculation and Knowledge, Interventionism

12/09/2007 Mises Wire Antoin E. Murphy

In the comments of my post on the mortgage mess, “Jake” linked to this fantastic piece by Peter Schiff. He makes the obvious point—that I somehow missed!—that the bailout will only further depress home prices in the medium to long term, since fewer people will qualify for loans. It’s really amazing how politicians screw up a part of the market and then kick it while it’s down.

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