San Diego Housing Bubble News and Analysis

http://mises.org/story/3127

In the late eighteenth century Karl Marx saw the recurring boom and bust in the economy with the arrival of the industrial revolution.

He believed, along with economists of the time, that the fault lies deep within the capitalist market economy itself.

And what was needed was massive government intervention
to correct it. Sound familiar?

This erroneous belief goes that far back that it is practiced like a religion. You hear and read it daily.

This socialist belief was a cornerstone for the founding of the old Soviet Union and communist China.