Avatar Posted by Treinentony 696 days ago - Average Rating: 5 with 1 vote(s) (http://realtytimes.com)
Category: Politics | Tags: foreclosures housing
Talking-heads who claim the U.S. housing market has "bottomed," or even that it will "bottom" in 2010, don't have the slightest grasp of fundamental economics. Government and the vast majority of media are using the old tactic of trying to talk us out of this downturn. Any bit of positive new is over-emphasized while the terrible, realistic conditions are hardly noted. The government has spent trillions of dollars and has not made ca significant impact on the problem. Government saved Wall Street banks, at least for now. Will government platitudes actually turn around our economy? The administration thinks so. They are closing their eyes and wishing really, really hard that it does. They also should remember to click their ruby-red heels three times to insure success. READ THE FULL POST
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