It’s the banks that own and run the gov’ts, not the other way around.
Sandra Lee Smith

Yes, I know that. Few others do though, so I put it in terms that they might understand. However I don’t think that Henry Wismayer is one of those, but he does, it appears, mistake top down economics from bottom up. The Trickle down economics of Reagan and Thatcher is the very embodiment of top down. Nowhere in that form of economics does governmental policy restrict corporate cronyism or regulatory capture nor currency manipulation, interest rate and commodity price fixing and inflation targeting. All those and more are anathema to Austrian principles.

Henry can no longer afford to live where he does because the government never let the market recalibrate prices thru deflation to wring out the excesses of easy credit and rampant speculation. Because the bankers and speculators weren’t left holding the bag for their malfeasance poor Henry is holding it instead.

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