Submitted by Arthur, Sep 24, 2008 14:55

Mr. Kudlow your logic is so bad its almost sad. But then again you are not an economist, you were one of the stock market cheerleaders whose head has been in the sand for the last ten years. Economists have been warning us about the massive malinvestment being made in the housing sector, wasting billions on what in an unproductive asset. As a result fixed business investment as a share of total investment has been in decline up until the last year. Housing prices will not rebound, unless the government continues to prop them up. These assets are worthless and if we have to spend trillions buying bad debt with new treasury bonds, those two will soon go under. Countries around the world hold 9 trillion in US debt and adding a few more trillion to that pile increases the likelihood on a bank run on the United States, resulting in massive inflation and the destruction of savings and the middle class.

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