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Housing Crisis Is Key to Economic Recovery

I meant paradigm shift, in reference to another blog in this site, not paradise. Paradise is where I retired, too.

Housing Crisis Is Key to Economic Recovery

That's a lot of data to prove a self evident conclusion. I agree, though. And more than that. Housing is a basic essential to life. Americans deserve homes, just not at inflated bubble prices and all the associated bubble economics that threaten our homes.

So, that being said, yes, I am in favor of, "paying our neighbor's rent" to paraphrase an outraged trader who is not. My guess is he was irate cuz he wanted more TARP money to loan us at interest so we can refinance using his money.

Our economy needs stimulus, and the TARP and it's cousins, just haven't done the trick. In fact, a lot of bail out money went toward corporate jets, bonuses, and lavish parties.Wall Street had it's bail out and the Fed is about stretched to the limit. Still, the economy is tanking.

So, if bailing our our collective mortgages, because we are in this thing together, helps pull us out of this nose dive, then I am for it. If it helps one family and their kids stay in their homes, then my tax dollars went to good use.

Put our money to work for us little guys, for a change. The big guys had their shot. They squandered some and failed with the rest. Or are we gonna wait until every American is out on the street? You go, Obama...as imperfect or counter to economic theory this plan might be, it's time for compassion, hard work, sacrifice, Paradise, and a concerted team effort to get there.

The markets will take care of themselves...if we still have capital.

Is the Real Estate Plunge Really That Shocking?

It's not just the DOW, obviously. A simple market down turn has brought the world to it's knees. Now, that's surprising.

I get the feeling this recession might just feed itself into depression. Higher unemployment, more foreclosures, more pay outs, more write downs, stalled credit, few business bail outs, and round and round and down we go.

$700bn just isn't sufficient. Sigh...maybe $2trn can help us to bottom out. I just hope we upgrade our infrastructure with some of that money.