Steven Cochrane of Moodys Economy was on W.J. and left out the BUT

[ensho]

he was on c-span's Wash. Journal this a.m. with Moodys's forecast of our economy re: housing market.

they say it will slowly get better and he had the outlook for various parts of the country.

the BUT Moodys left out of the equation is climate change.

we just lost a lot of housing due to unexpected flooding around Atlanta; houses lost to fires in Calif. etc., etc.

these unexpected housing losses will continue at a faster and greater pace because next to nothing is being done to slow down or stop climate change. (the Philippines just lost much housing and lives to unexpected flooding)

Moodys is wearing rosy glasses.

(an aside: yesterday saw on TV news that people in the Atlanta flood while tearing down wet wallboard discovered the house hadn't been built to specs re: studding and that too had to be torn down and rebuilt. what a sorry mess.)