Reaction Radio

Sold At The Top submits:

Romer puts up a front on today’s GDP says ”it’s a wonderful sign… this is the turn around.” CNBC reports there “are no red flags” in the data… how about the fastest rate of residential investment since 1998?! Faster than every quarter of the housing boom? Keep dreaming.

The latest on the proposed extension of the “home buyers” tax gimmick would have move-up home borrowers bribed by up to $6500 and first-time home borrowers bribed by $8000 as well as increasing the income limits to $125K for individuals and $250K for couples. This sham policy while giving Robert Shiller a “funny feeling” also is a great way to get you audited should you receive its benefits… it’s also a great way to perpetuate widespread fraud and support ridiculously high housing costs.

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