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I have been reading the same things. I have to think though that a lot of things were over inflated and that much of this is cyclical. You can only push housing prices so high. We have relied on the housing boom for way too much in my opinion. We need to tuck back and maybe focus on bringing back some manufacturing. I was reading about a city in the north that has been working all along with the idea that you don't have to give out loans to people who can't afford them, you don't have to over expand your business to the point where the least little thing upsets tha balance....they aren't having the problems that much of the counrtry is.
Seriously, WHY do executives need such huge paychecks and bonuses? If they kept things more modest, would their companies be in such a bad position? WHY do people need brand new McMansions? If they bought a more modest home, they might be able to afford it. Why did people find the need to not use the car pool and instead had to have a new Hummer?
I'm just thinking more and more that we brought this on ourselves. (not in a personal way, just in general)
 
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