Here it is, just 15 years after the last time, and we are back at the the housing market crashing again.
This sucks like a thousand [Herbert] Hoovers all going at once:
The slump in US home prices is becoming more widespread, with the share of markets seeing declines at the highest in over a decade.
According to a National Association of Realtors report Tuesday, 31% of US housing markets experienced declines. That's the highest in 11 years and up from 11% of markets that saw price declines in the fourth quarter.
It turns out that the people who addressed this problem over a dozen years ago, I'm looking you, Obama and Geithner, took their cues from the Bourbon Restoration.
To quote not Tallyrand, "They have learned nothing and they have forgotten nothing."
It took 70 years to erase the lessons of the Great Depression, it only took 15 to erase the lessons of the Great Recession, if they had ever been taken to heart.
Can we start jailing banksters?
0 comments :
Post a Comment