The Democrats: Praying for Housing Bubble to Pop For Success?
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Business Week has an article out that is either absurd or terrifying. They surmise that for the Democrats to gain traction on the economy we need housing values to tank. The feeling that the Democratic Party is so bankrupt of ideas that the only way they could regain power, or at least a foothold on the economy is to have the economy fall apart, is scary on many fronts. Are the Democrats that bad off, or are the Republicans that strong? Or is Business Week that off base? Let me know your feelings in the comments.
When the housing boom is over, the politics will begin. That’s my feeling as I watch the politicians jostling for position these days ahead of the 2006 Congressional elections and the 2008 Presidential ones. Democrats have been searching for the right way to politically exploit the country’s undeniable economic problems, including weak wage growth for most Americans and fears of globalization.
Democratic politicians fail to understand that their economic attacks on the Bush Administration can’t really take hold until the housing market goes south. Rising home prices are an engine of prosperity for the typical American family. Until that engine goes in reverse — which may be starting to happen — doom-and-gloom politics won’t really resonate. via Business Week.
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