Thursday, February 14, 2008
The "Bubble" has air escaping
I consider the economic stimulus package to be totally bogus. This does not solve "anything". It is more a Clintonesque gesture to show that "the government cares". The problem that we are in is just a natural, but nasty feature of the air finally escapting from the "housing bubble". The bubble is not new, as everyone knows. When I went up to Minneapolis to work in 2001, I saw that housing prices there were bubbling. I wondered how long it could last. I would have liked to see some "housing bubble" action in our part of the Dallas area, but it never happened. The bubble obviously has one or more holes and the air is escaping. That causes problems, but long-term, it also fixes them. I only hope that we can survive the fix.