THE VERY IDEA THAT HOUSING ALONE CAN CAUSE A GREAT DEPRESSION SEEMS ODD...
BUT WHEN YOU CONSIDER THAT THE HOUSE BUBBLE WAS USED TO MASK THE OFF SHORING OF US PRODUCTIVE CAPACITY...IT MAKES MORE SENSE...
BASICALLY THE HOUSE BUBBLE WAS USED TO "MASK" THE LOOTING THAT WAS GOING ON IN THE REST OF THE US ECONOMY...MAINLY IN OFF SHORING MANUFACTURING AND PRODUCTIVE CAPACITY...
BUT ALSO IN THE AREA OF PHONY PONZI SCHEMES AND BOGUS FINANCIAL ASSETS BOONDOGGLES ON WALL STREET...
SO WHEN THE HOUSE BUBBLE CRASHED...THE REST OF THE ECONOMIC LOOTING WAS ALSO REVEALED...
THUS HOUSING DID NOT "CAUSE" THE DEPRESSION...IT MERELY MASKED IT LONG ENOUGH FOR THE ECONOMIC LOOTING TO BECOME PERMANENT AND STRUCTURAL...
STRUCTURAL DAMAGE IS WHAT REALLY CAUSED THE DEPRESSION...AND IT CONTINUES EVEN NOW...
THE LACK OF LIVING WAGE JOBS WAS NOT CAUSED BY THE HOUSING BUBBLE...
BUT THE LONG TERM DECLINE OF THE MIDDLE CLASS WAS SUCCESSFULLY MASKED BY THE HOUSE BUBBLE...
