So Much for the Sugar High

The Case-Shiller index of housing prices has turned down again, contrary to the expectations of Ben "Let's Try Throwing 2.7 Trillion at Housing" Bernanke. This would be a double-dip in housing prices, which obviously does not bode too well for the economy. As the author points out, if you take out the Fed's 2.7 trillion "sugar boost," housing has been dropping for 3 years straight. All Mr. Bernanke did was delay the inevitable bottom while adding 2.7 trillion to future liabilities for we the tax payer (thanks so much Chairman Ben).