Jack McHugh reacts to the housing starts numbers, which the market rallied on yesterday:

Perhaps I wasn’t paying attention during my many economics classes, but I thought I remembered learning that an item suffering from weak demand and ever weakening prices is in need of less not more supply. If building 500K more homes can solve a housing crisis where some 6 million already stand vacant, then we’ve truly discovered how to turn lead into gold. Heck, perhaps we can use this same economic alchemy to solve the entire financial crisis. Let’s just print as large a supply of new dollars as it will take to buy up every toxic asset and every vacant home! Supply creates demand and problem solved!

More analysis here and here.

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