oz - Comment - Israel News | Haaretz Daily Newspaper
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    • JPMORGAN
    • 05.08.11 | 19:43 (IDT)

    Arer these people blind and deaf. The US crash of 2008 came do to the democrats socialist idea that "everyone" had a legal right to own a house by way of government subsidized mortgages. The end is known. The people could not pay their mortgage payments and Fannie abd Freddie went into debt for trillions leading to the failure of Loehman and the collapse of the world financial system. Sadly not everyone can afford a house. SOme need to rent (and there Israel must step up and encourage rental property growth). Also governments cannot guarantee every citizen a "good" quality of life, only the weakest need to be given a safety net. Ogtherwise you end up like Greece, Portugal, Ireland etc. We have been lucky so far not to fall into the trap of the nanny state which collapses under the weight of unsustainable social programs. Why in G-d's name would we go to a place which we see all around us leads to economic ruin for all. That does not mean the state should not free up more land for construction since the state ownership of all the land is an economic anomaly in israel with monopolistic consequences of high pricing. Also the sale of state assets to the private sector should be done carefully to assure a fair market price to the state. but to copy Greece or the Fannie/Freddie debacles is lunacy. Only the ideological left who refuses to let itself ever be confused by the facts can dream of a socialist wonderland after the last 70 years of world history.

    from the article: Amos Oz's mistake
    First published 01:25 05.08.11 | Last updated 01:25 05.08.11
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