Alan, You have a point, I dont disagree with what you say. Noone has ever been correct if they over-estimated a politician and the possibility of an attention span longer than the next election.
Typically it is said that too much of our investment is in housing, but housing debt is generally different from household debt which if often just for vacations, car loans, education loans, and paying off other purchased items.
All these things do have a stimulative effect for a time on the economy of course, and a support a large enough generall competitive financial/banking sector to give us a relatively low cost of capital above interbank borrowing cost in most cases. Some even add value in otehr general ways to the country, but many are just feel good exercises but maybe that is good also.
