It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.
Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.
If we get any more patient we're all going to be broke. The average American homeowner has the majority of their net worth tied up in their home, and on average, they've lost a third of it.
Now contrary to all the sycophants of John Maynard Keynes *spit*, I don't want the government to do anything about this. On the contrary--I want them to stop doing anything about it. Stop printing money, stop bailing out banks, just stop! Let the markets do their job and squeeze out all the malinvestment.
Dearest President Zero--it really is about the economy, stupid! But since you're the least knowledgeable community organizer in the room, you probably don't get that. So how about you step out and get a hot dog after a nice round of golf and let the adults handle it for a bit?