The Old Ways Are Dead

Tim Duy takes Paulson to task for claiming things won't really get better until housing perks up. Duy argues that the economy based on continually increasing consumer spending has been shown to be a dead end. In his view, reducing mortgage payments will only work if the mortgagors are, in fact, creditworthy.

Return to growth can only come to pass with an economy that actually builds things, like infrastructure or invests in things like healthcare and education.