[quote=kewp]But they usually have some competition, and that seems to be the only effective way to keep waste levels down across an enormous range of economic activity.
Somewhat ironic that you post this on a site devoted to the housing bubble; the greatest mal-investment in the history of the world.[/quote]
Ironic? Not really, kewp. The housing bubble would have been very mild had there been no government incentives to buy houses. Absent FNMA, Freddie, FHA, tax deduction for mortgage interest expenses, artificially low federal funds rates, congressional pressures to lend to poorer risks, and all the other govt measures funneling money into houses, and the bubble would never have got very far.
