{"id":4329,"date":"2010-09-07T22:39:54","date_gmt":"2010-09-08T02:39:54","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=4329"},"modified":"2010-09-09T00:30:07","modified_gmt":"2010-09-09T04:30:07","slug":"sometimes-3","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2010\/09\/07\/sometimes-3\/","title":{"rendered":"sometimes…"},"content":{"rendered":"\n

I seem determined to write repetitively about the sins of the Bush years, determined that just moving on without addressing it is a mistake – disagreeing with Obama’s entreaty to look forward<\/em><\/strong>. But looking backward<\/strong><\/em> hasn’t really caught on – at least not so much as some of us might wish. Actually, what has caught on is looking at right n<\/strong><\/em>ow<\/em><\/strong> – and right now<\/em><\/strong> ain’t looking so hot. This is the worst and longest dry spell in anyone’s memory:<\/p>\n

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This next graph is adapted from Robert Shiller’s Irrational Exuberance<\/strong> in 2006 showing how inflated our housing market had become [corrected for inflation] before the "bubble" burst:<\/p>\n

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The housing market has now tanked. Unemployment has skyrocketed. The national debt soars. We’re still in two expensive wars. It’s been a long two years since the Market crashed on September 16, 2008. So I suppose that it’s naive to ask people on the street to look at how we got into this mess and be patient. They’re looking at the mess we’re in right <\/strong>now<\/strong><\/em>. And the solution of the economists – another Stimulus Package – is anti-intuitive [worse than we thought<\/strike> hoped…<\/a><\/strong>].<\/p>\n

So, from the Washington Post\/ABC News poll<\/a><\/strong>:<\/p>\n

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