The cheerleader know nothings on CNBC were all beating the recovery drums yesterday.
Economists have a way of "letting the cat out of the bag" when they make statements like this. In a normal, well-functioning economy, why would there be any urgency in restoring housing prices to "pre-recession levels" that were grossly inflated to begin with?
The answer is that there's absolutely no good reason to monkey around with "housing prices" in a sound economy. The reason housing prices are so important here in the U.S. is that our economy is constructed around massive debt, and high housing prices are a boon for the banking industry.
Especially considering the tens of billions in printing and bond buying the Fed is doing to prop up the economy.
High oil prices, gross uncertainty caused by gov’t meddling/dithering/selective enforcement, 0bamaCare.
The current issue of Forbes is all about global billionaires. Alongside each name is a little icon. A triangular green icon points up . A triangular red icon points down.
There are lots, perhaps moredown pointing red icons......
Lesson........ it’s bad all over
The inflation rate is calculated without the increase in food or energy prices. WTF? Sure, lets quick chalk the books so the average person can’t see the truth.
I don’t believe even that growth percentage—given how we undercount inflation.
The author apparently does not understand that the Great Recession was created by low rates which created a grossly inflated housing bubble which had to crash. The main effect of low rates is to discourage long term investment in favor of short term speculation. Most of the low rate money has gone into carry trades which create booms and busts in the rest of the world and destroy those economies and then ours. It is a giveaway to the big banks who do the carry trading. Most of the rest goes into funding political pork projects. We are literally printing money and giving it to politicians to spend. Most of those projects do not help long term economic growth but rather use up resources that are needed by the private sector.
Amnesty will solve this. I heard from yet another democrat that all illegal immigrants will become super rich job creaters but just can’t because some reason.
this magic negro couldn’t be this bad unless he was doing it on purpose
everything he touches turns to crap.
The media sets the table before us,
They serve it up warm and steamy, fresh
out of the Bulls ass.
