George may have left office a year ago, but there appears to be a growing consensus that the likely shape of the recovery will be a “W.” How appropriate, if you believe that we are reaping the bitter fruit of his administration’s policies.
A front page article in the Business Section of last Wednesday’s New York Times, grimly entitled “An Upturn in Housing May be Reversing,” pulls together recent and contradictory data from various sources, including Case-Shiller, Moody’s, and The National Association of Realtors. The conclusions are sobering. ...