Safe as Houses - New York Times

Safe as Houses - New York Times: "I used to live next door to a Russian émigré. One day he asked me to explain something that puzzled him about his new country. 'This place seems very rich,' he said, 'but I never see anyone making anything. How does the country earn its money?'
The answer, these days, is that we make a living by selling each other houses. Since December 2000 employment in U.S. manufacturing has fallen 17 percent, but membership in the National Association of Realtors has risen 58 percent."

This article was written in 2005 by Paul Krugman. You would have thought that maybe Greespan or Bernanke would have picked up on this and advised the Bush administration to give a closer look at what was going on. But no, they kept their collective heads in the sand because everything was just peachy. Of course, all the talking heads made fun of economists that predicted exactly what is now occurring. They were liberals, hate America firsters. I just don't see how Limbaugh, O'Reilly and crew have any credibility at all. Maybe its the entrainment, you know, comparing a 13 year old girl on national TV to a dog, or yelling at someone you disagree with to shut up.