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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (251937)	6/4/2010 4:37:46 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 306849

>>People are starting to realize they got nothing for $billions in stimulus money save some union and government jobs/pensions. << On that we agree, and he can forget about any more big legislative initiatives this term, or even Son 'o Porkulus. Not gonna happen. And Jan Brewer isn't gonna back down on SB1070, either (I fully expect at least 5-10 other states to pass similar bills by the end of this year and more next year, too). The Dems are in big trouble in November, IMO.

To: Jim McMannis who wrote (251937)	6/4/2010 5:43:07 PM
From: Elroy Jetson	Read Replies (3) \| Respond to of 306849

Ronnie Raygun, as you refer to him, created this problem by growing government, business and consumer debt far faster than the growth of income. This scheme was supposed to increase economic growth in the American economy, but in actual fact slowed it down - as any reasonable economist would expect. But spending though both income and borrowed money did provide the illusion of prosperity which people fondly remember Reagan for. The 1981 "Grandpa has a new credit card" stimulus program was very popular - but has created the economic depression we are entering. George H.W. Bush tried to rein it in, leading to an inevitable recession. Which gave us Bill Clinton and George W. Bush who knew that the key to popularity was expanding Reagan's credit bubble as quickly as possible. The stock boom under Clinton and a real estate boom under Bush - his so called "Ownership Society" where government would make sure everyone owned at least one home. Bush's bank bail-out was wrong and Obama was stupid to continue it. Obama's worst error has been following the advice of the evil dwarf Larry Summers, just as Bill Clinton and Phil Gramm did. Summer's "stimulus spending" has provided us merely a 6-month reprieve from the economic depression at the cost of a Trillion Dollars. Obama should have heeded Paul Volcker from the beginning and just provided basic support for the unemployed while the economy collapsed back to pre-credit bubble size. The sooner we unwind the Reagan credit bubble, the sooner the pain is over. .