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Politics : View from the Center and Left

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To: JohnM who wrote (189028)	5/12/2012 9:37:52 AM
From: Steve Lokness	Read Replies (3) of 541990

<<<<We go round and round on this stuff regularly>>>> We do. And that is why I didn't rehash the old demand issue, but instead focused all my comments on the specific issue of housing AND Krugman's misperceptions about housing that he used in his commentary. Krugman doesn't understand the role housing plays - he just doesn't. He didn't understand it when it started to explode and he still seems very confused as to housing role in the economy. ..........Taking this argument a step further, autos have rebounded, energy production is way up, Apple computers are exploding in sales, service jobs are doing great, so why isn't the unemployment numbers down more? Housing and housing related items and big ticket items bought when people used their home as a bank. Until Krugman addresses this issue and shows that he has some tiny understanding of the part housing played(s) - it really calls in question his entire thinking in my mind. He reinforced his confusion on this issue by placing housing in the same group as teachers that were laid off. We need a constant number of teachers - we don't need the same number of workers in housing - if we are building 1 million less units a year - and still have an oversupply.

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