Greg Mankiw posted this video sketch yesterday from The Daily Show on a major signal that the housing market has not yet stabilized. Hilarious! My favorite part is when Robert Shiller starts giving advice on how Geithner should redecorate his bathroom.
| The Daily Show With Jon Stewart | Mon - Thurs 11p / 10c | |||
| Home Crisis Investigation | ||||
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I feel that the likelihood of the government fixing our economic slump is extremely difficult to put any nugget of faith in. The fact that this man that the government has deemed responsible for rebuilding our declining economy can't even seem to comprehend the trends in the housing market solidifies the much-deserved doubt that I, as well as many other Americans, have in the governments plans to cure the economy. This man simply doesn't understand such a simple concept as supply and demand. If he did, he would realize that the demand in the housing market is much lower than it has been and therefore the prices for homes must compromise and lower as well due to the current state of the market. But instead of reading the current economic trends, which just so happens to be his "strength" according to the government, he has gone and raised the price of his home regardless of the cautionary warnings of his relator (who seems to have a better chance of fixing the economy herself than he does). Let's just say that this man has a better chance of winning a designer's award for the wretched tile in his bathroom than bringing any positive change to the economy.
I feel that the likelihood of the government fixing our economic slump is extremely difficult to put any nugget of faith in. The fact that this man that the government has deemed responsible for rebuilding our declining economy can't even seem to comprehend the trends in the housing market solidifies the much-deserved doubt that I, as well as many other Americans, have in the governments plans to cure the economy. This man simply doesn't understand such a simple concept as supply and demand. If he did, he would realize that the demand in the housing market is much lower than it has been and therefore the prices for homes must compromise and lower as well due to the current state of the market. But instead of reading the current economic trends, which just so happens to be his "strength" according to the government, he has gone and raised the price of his home regardless of the cautionary warnings of his relator (who seems to have a better chance of fixing the economy herself than he does). Let's just say that this man has a better chance of winning a designer's award for the wretched tile in his bathroom than bringing any positive change to the economy.
I do not think the American government solving our economic down fall is going to happen. Timothy Geither has been given the responsibility of getting the economy out of this economic down fall in the housing market, but clearly does not have a grasp on the concept. He does not understand the supply and demand of homes. We have a huge supply of homes, but the demand has greatly decreased due to the economy. He is actually trying to sell his home for an astronomical amount, more than he paid for it when he bought it. We are not only in a housing crisis, but in a money crunch, instead of raising the price of his home he needs to either lower it, or wait for the market to increase and try to sell again. I don't have much confidence in him fixing the housing market slump.