Tuesday, December 01, 2009

Robert Reich: you cannot be serious!

So I was looking through Mark Thoma's links and found this amazing piece by Robert Reich, which begins as follows:

"One out of four homeowners is now under water, owing more on their homes than the homes are worth. Why? The biggest single factor behind the housing crisis is rising unemployment. According to the latest ABC-Washington Post poll, one out of every three Americans has either lost their job or lives in a household with someone who has lost a job. Today it takes two and sometimes three incomes to buy the groceries and pay the mortgage or the rent. So if one of those incomes is gone, a homeowner can't make the payment."

Yikes and double Yikes!

Let me get a tad personal here.

Robert, even the dimmest of bulbs can surely recognize that it's the housing crisis that caused the unemployment, not the other way 'round! 

And even a burnt out bulb should realize that being underwater is not coming from unemployed workers being unable to pay their mortgages. While that is a bad and concerning thing, it has basically nothing to do with being underwater. 

Being underwater is owing more than your home is worth. Robert, you even give the correct definition of underwater in your first sentence but then go hideously off the rails thereafter. 

So Robert, or the typing gibbon who is writing these posts under your name, please get your shit together and try to make a little bit of sense. After all you were our nation's 22nd Secretary of Labor!


7 comments:

dima0170 said...

Oooh, hey... Where can I get a typing gibbon?

Steve said...

it takes two to three incomes to pay for the groceries and rent...

what an asshole....

Eric H said...

Reich's grocery bill is HUGE because of the typing gibbon; it eats like a typing horse and has its own penthouse...

Rolo Tomasi said...

http://www.dilbert.com/strips/comic/2009-05-08/

Angus said...

Ahhh, Rolo that is excellent. Thank you!

Speedmaster said...

That is scary-ignorant.

Speedmaster said...

Dr. Munger, it gets worse. Did you see this?! ;-)
http://www.lewrockwell.com/blog/lewrw/archives/44124.html