I have nothing personal against Poole, but hes being the harsh parent, who wants to 'train' the american public and change the mindset of America to become more conservative. When this happens, America will become naked, and everyone will see the underlying ponzi scheme that has been going on to keep it afloat. Being the harsh parent/instructor, is good if you think pain should be inflicted on the masses in the short term on a multidecade timescale. Imagine what the world would look like if Americans actually started to save more and spend less. Again whether Poole is good or bad is dependent on how fast you want the pain to be inflicted. The gradualists would prefer that its a measured response to entrain the masses over time instead of abrupt changes in behavior patterns. Poole's attitude can cause a crash, and again a crash may be viewed as good by some and bad by others. If you've grown up in american society as the vast majority have for the past 20-30 years in this country. Its unfair to inflict this kind of damage on the masses, since our society hasn't been trained and educated properly to compete on the world scene. Poole is just being a harsh parent to the young adult who just finished college and is looking for a job as a starving artist instead of something that has more productive value.
gotta keep the plankton (first home buyers) alive. Not the NINJA? people but those that have enough substance to have a real possibilty of getting in a home. subsidise them.