Tuesday, August 24, 2010

If You Pull Demand Forward....It Falls Down Later: July House Sale Numbers

It's breathtaking to watch ThePeopleInChargeOfSuchThings commit such obvious knucklehead mistakes.

If you bribe people 8K to buy houses, and then stop bribing them, they'll stop buying.

This is a bit like watching a train wreck from a distance. One can jump up and down, wave the arms and scream, but those two locomotives will meet on the same track, nonetheless.

This is about the culture, which shapes the economy. This approach to human behavior is destructive, of people, of culture, and of the economy at the last.

Heaven have mercy on us.

No comments: