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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: koan who wrote (258274)7/2/2010 11:04:30 PM
From: bentwayRead Replies (1) of 306849
 
"They screwed up the real estate problem, IMO, and the stimulus package. Both Stiglits and Krugman told Obama it was too small and they would not b able ot go back for more; and both said they should have run the money through the mortgage market and home owners and then to the banks."

That's the lesson from the past. Supposedly it was the SPENDING on WWII that pulled us out of the Great Depression, so the theory is that that level of SPENDING on anything will do it again.

The problem is, the people won't accept that level of spending unless we ARE in a WWII. Just look at all the carping at the "inadequate" spending now.

I think we were saved from a depression, only to be left in our current sorry state.

The problem THIS time is, the jobs aren't coming back. The last time, WE were a low cost producer and had unbombed factories!
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