Well, Duh! Dept.

Housing: A Crisis With Staying Power in the CSM seems to think it's advancing some scientific discovery to say that the housing bust is having profound effects -and will continue to do- beyond a raft of foreclosures. Where it doesn't venture is the historical perspective that the economic history of the United States has been largely the story of boom & bust. We tolerate the bust because we confidently expect the next boom. So far, it works.....