A drastic and realistic free market approach with respect to house prices reverting to year 2000-2002, in nominal terms, ought to be a no brainer (back to fundamentals). Now, that should be fine based on the free market concept (the capitalist side of the equation and market cycles). However, the state and political budgets ought to revert to 2000-2002 levels based on the same, free market concept (the other capitalist side of the equation – which is stalled by the politicians who are yelling “capitalism” but act as true socialists).
No matter what approach, the economic equiation has to balance. The real question is do we prop the numbers up let them come down.
It’s hard to deal with why McCain/GOP/Republicans are pushing this direction. They would have more credibility if they would revert back to what they stood for back in the days.
