With all the bad news of late ..

We can only hope that David Lereah, former chief economist at the National Association of Realtors (NAR), is writing a book on why we are headed for a deep depression. So far his cheery publications have pretty much coincided with the tops in both the technology and housing bubbles. After being a successful cheerleader for the technology bubble, the NAR hired him to do it again for the housing bubble. Now, if only he could do it again .. in reverse this time.

I was reminded of Mr. Lereah while listening to the radio this evening when I heard another advertisement from the National Association of Realtors about it being a great time to buy (just as Mr. Lereah was saying in 2006). When are we ever going to hold these lobbying organizations accountable for using misleading advertising campaigns and questionable statistics to lead so many people astray? Based on the fact that they consider themselves one of the most powerful lobbying organizations in the country I think I already know the answer to that one .. and we might be waiting for quite a long time. It's almost ironic that the industries buying the most influence in Washington always manage to find themselves in need of a bailout isn't it? I guess those who focus on business at hand don't need Washington's help. A truly amazing concept.

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