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Monday, October 18, 2010

Kargan just asserted that I don't believe in private property. OK I admitted, I don't believe in natural property rights -- I believe that private property is a social invention (roughly I'm with Walzer).

But I find myself indignant over the complete contempt for the useful institution of private property displayed by the editorial board of The Washington Post. They have decided that the time derivative (not the level) of house prices is more important than the principle that claims to own something should not be accepted without evidence.

They have the idea that the foreclosure mess is a bad thing and not good because it slows foreclosures (OK) and therefore we should just ignore massive widespread perjury and accept any banks claim to own a house just on their say so (and robosign so).

They assert that property titles are "antiquated." Lenin thought the same and it didn't work out so well.

All that is sacred is profaned all that is solid melts into CDOs of RMBS.

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