I find it “ironical” that core inflation does not include food or energy. So housing is in there, but we know that’s dropping, so as long as Plasma TV’s get cheaper, we’ll be okay. Forget that gas may hit $4/gallon, and milk $5 by next year.
I also laugh at the idea of interest rates being lowered to help housing. Low rates are a key cause of this mess. That’s like saying, “hey, my house is on fire, I think I’ll throw some gasoline and matches on it. Maybe that will help!”
As far as BB being an idiot, I think he’s become little more than another political tool, paid to quell any discontentment with the economy, talking in generalities, and non-sensical circles. I think it appears idiotic to anyone who sees what’s really going on, or has a more bearish view of it. Truth is he’s stuck, and the person to thank for that is Greenspan.
