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Politics : View from the Center and Left

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To: JohnM who wrote (188987)	5/11/2012 8:31:55 PM
From: Steve Lokness	Read Replies (1) of 542004

<<<<<don't see a problem with the overall argument that demand is the problem, not misallocation of the workforce>>>>> How many workers do you suppose it takes to make a house? 50? When you count everyone - as I tried to explain in my last email - the number has to be staggering. So we are talking everyone employed in the housing industry; planners, architects, plumbers, truck manufacturers (to make the trucks to haul to all the job sites) people in the banks that did the lending, appraisers, electricians, cabinet makers, loggers (to cut the trees to make the houses), oh ya and throw in some carpenters too. If we went from 1.5 million units down to 500K - that means 2/3's of ALL those workers likely got pink slips of one kind or another!!!! You really with a straight face can say that didn't create a misallocated work force? A bubble? Of course demand is the problem! But we can't build more homes to recreate that demand - and any government attempt to do so is just throwing money away. We need a vision for a grand works program like Roosevelt proposed. But Americans deserve to get something in return - other that a bunch of bills their kids have to pay back.

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