China Housing Market (Boom or Bust)

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Are you better off now?
As 2012 nears, liabilities of the Obama administration keep piling up
Augusta Chronicle Editorial Staff
Monday, May 2, 2011

http://chronicle.augusta.com/opinion/editorials/2011-05-02/are-you-better-now

At least one world body predicts China will replace America as the world's leading economy by 2016.
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What are we doing to prevent that?

Consider:

We've got a president who is presiding over chronically high unemployment; a growing energy conundrum and stifling high fuel prices that threaten to destroy the already-muted economic recovery; a historic buildup of a national debt that could bring down the dollar if not the country; unprecedented government takeovers of the auto, finance and health care industries; and a foreign policy that looks intentionally incoherent.

In addition to all the above, home prices in most major cities are still falling.

"The Standard & Poor's/Case-Shiller 20-city index shows price declines in 19 cities from January to February," said one news report. "The index fell for the seventh straight month."

The index indicates the housing market is "within a hair's breadth of a double dip" recession.

Quoting the S&P report, the South Florida Sun-Sentinel newspaper writes, "South Florida home prices fell 6.2 percent in February from a year ago and there remains 'very little, if any, good news about housing' ..."

And after being hailed as the first black president, what has he done for black America, other than lift its spirits?

"It's never easy to tell someone you like that he's a disappointment," writes African-American columnist DeWayne Wickham in a USA Today column headlined "Obama breaks vow with jobless blacks" -- noting that black unemployment is 15.5 percent, nearly double what it was before Obama's election.

Wickham writes that he doesn't blame Obama for the economy and the state of black America -- "But I do fault him for not doing more to fix this problem."

Indeed, since Mr. Obama has been in office, his priorities have been: government spending, which ultimately failed to turn the economy around; increasing government control over health care; ending the "Don't Ask, Don't Tell" policy for gays in the military; and now immigration reform.

Has he been consciously or negligently avoiding the black issues Wickham writes about?

Considering his ineffectiveness in other areas, maybe it's a blessing in disguise if he has.

Mr. Obama's campaign manager said this week they will have to have to "scratch and claw" to get him re-elected. Well, certainly that would be preferable to running on his record.

When you look at the Obama record -- chronic unemployment, staggering debt, degradation of the dollar, unprecedented growth of government and more -- you wonder why we'd even think of signing up for this again.

Or why we did the first time.

Our question isn't whether this president was born in America.

Our question is: When will he start acting like it?