Paul Krugman on the Housing Crisis

Question: Have we seen the worst of the housing crisis?

Paul Krugman: Okay no.  Housing crisis is just in the first act, right?  The . . .  All the indications are that we’ll have . . . housing will be depressed for years to come.  A lot of the financial stuff, there are some charts that have been making the rounds showing the mortgage resets lying ahead that are likely to force a lot of people into . . . into delinquency and into foreclosure.  And those have just started.  There was a huge wave of lending with low teaser rates that expire after two years.  And that wave of lending took place in 2005, 2006.  So in the years coming, we’re going to start to have these . . . these terrible burden of, you know . . .  The financial situation will probably get substantially worse before it gets better.  So no.  Housing is . . . is gonna be a millstone around the economy’s neck for quite some time.

Krugman says this is only the first act.

Ideology drives us apart. Neuroscience can bring us back together.

A guide to making difficult conversations possible—and peaceful—in an increasingly polarized nation.

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  • How can we reach out to people on the other side of the divide? Get to know the other person as a human being before you get to know them as a set of tribal political beliefs, says Sarah Ruger. Don't launch straight into the difficult topics—connect on a more basic level first.
  • To bond, use icebreakers backed by neuroscience and psychology: Share a meal, watch some comedy, see awe-inspiring art, go on a tough hike together—sharing tribulation helps break down some of the mental barriers we have between us. Then, get down to talking, putting your humanity before your ideology.
  • The Charles Koch Foundation is committed to understanding what drives intolerance and the best ways to cure it. The foundation supports interdisciplinary research to overcome intolerance, new models for peaceful interactions, and experiments that can heal fractured communities. For more information, visit charleskochfoundation.org/courageous-collaborations.

How to split the USA into two countries: Red and Blue

Progressive America would be half as big, but twice as populated as its conservative twin.

Image: Dicken Schrader
Strange Maps
  • America's two political tribes have consolidated into 'red' and 'blue' nations, with seemingly irreconcilable differences.
  • Perhaps the best way to stop the infighting is to go for a divorce and give the two nations a country each
  • Based on the UN's partition plan for Israel/Palestine, this proposal provides territorial contiguity and sea access to both 'red' and 'blue' America
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Why a federal judge ordered White House to restore Jim Acosta's press badge

A federal judge ruled that the Trump administration likely violated the reporter's Fifth Amendment rights when it stripped his press credentials earlier this month.

WASHINGTON, DC - NOVEMBER 16: CNN chief White House correspondent Jim Acosta (R) returns to the White House with CNN Washington bureau chief Sam Feist after Federal judge Timothy J. Kelly ordered the White House to reinstate his press pass November 16, 2018 in Washington, DC. CNN has filed a lawsuit against the White House after Acosta's press pass was revoked after a dispute involving a news conference last week. (Photo by Alex Wong/Getty Images)
Politics & Current Affairs
  • Acosta will be allowed to return to the White House on Friday.
  • The judge described the ruling as narrow, and didn't rule one way or the other on violations of the First Amendment.
  • The case is still open, and the administration may choose to appeal the ruling.
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