Sometimes people are dolts. That’s certainly true of home buyers and lenders. Only a few years after the economy and real estate market tanked housing prices are rising again – rising with irrational exuberance to borrow a phrase from former Fed Chairman, Alan Greenspan.
To hear the 1 percenters and those 99 percenters bent on voting against their own economic self-interests tell it, you could slap a bushy beard and crazy wig on Barack Obama and he’d be the new Karl Marx. That Karl Marx could take a Viennese sachertorte-sized chomp out of their ass and they wouldn’t know him is beside the point.
One of the few things that garners any bipartisan support these days is that America is embroiled in a Class War. The wealthy are doing OK by their own admission. They just want to be more OKer than they are and are willing to hire lobbyists, fund gigantic super-pacs, shut factories, or buy politicians to do it. Their chant is, “Taxes? Taxes? We don’t need no stinking taxes…you do…and more of ’em too!”