{"id":26509,"date":"2011-06-02T21:02:43","date_gmt":"2011-06-02T21:02:43","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/wsj_the_housing_illusion\/"},"modified":"2011-06-02T21:02:43","modified_gmt":"2011-06-02T21:02:43","slug":"wsj_the_housing_illusion","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=26509","title":{"rendered":"(WSJ) The Housing Illusion"},"content":{"rendered":"<p>The Obama Administration and Chairman Ben Bernanke&#8217;s Federal Reserve have bet on a recovery based on reflating asset prices with easy money, federal spending and temporary stimulus programs. Part of that bet was reflating the housing bubble.<\/p>\n<p>The results are what we now see: higher stock prices for Americans lucky enough to own shares, but 2% growth and mediocre job creation, a housing recession stretching well into its fourth year, and soaring commodity prices that reduce real income growth.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052702303745304576359582086611822.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Obama Administration and Chairman Ben Bernanke&#8217;s Federal Reserve have bet on a recovery based on reflating asset prices with easy money, federal spending and temporary stimulus programs. Part of that bet was reflating the housing bubble. The results are<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=26509\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,582,589,149,671,600,586,596,584],"tags":[],"class_list":["post-26509","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-consumerconsumer-spending","category-corporationscorporate-life","category-economy","category-federal-reserve","category-housingreal-estate-market","category-the-2009-obama-administration-housing-amelioration-plan","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/26509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26509"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/26509\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}