Zeev's Turnips Patch-No Politics (ZEEV)

[augieboo]

Clueless? How can you say GreenSpam is clueless?

Why, look at this fantastic idea/analysis from one of his latest speeches:

There can be little doubt that the availability of a ready source of home equity has reduced the costs and uncertainties associated with income volatility, retirement, unexpected medical bills and a host of other life events that can unexpectedly draw down savings. Home equity extraction may be the household sector's realization of the benefit of a rapidly evolving financial intermediation system. http://www.federalreserve.gov/boarddocs/speeches/2003/20030304/default.htm

Yep, that's the ticket. We Americans need to stop thinking of our homes as assets for retirement and start thinking of them as a means to purchase more stuff to pack inside them. Yeah. That works.