More constructive criticism from the right. Did Kline miss the Bachmannalia yesterday and now feel left out?

Rational consumer behavior suggests that the consumer bears two types of debt -- Long Term mortgage debt against his asset which his his major source of savings; Short term installment debt (which with credit cards is infinite in length) used to purchase depreciating assets. As long as the value of his housing asset rose, he could in essence borrow against his increasing equity, purchasing on what the Brits used to call the Never-Never plan short lived assets. From time to time he could convert this credit card debt into home equity loans.

However, when the value of his housing asset decreased (and equity shrank), he changed his consumption patter, paid down his installment loans and created what had been thought to be an extinct bird -- actual savings.

This "unpatriotic" failure to immolate himself with hot new installment debt has had certain effects. First, the retail market crumbled, stores closed, commercial property owners found their properties in a downward value cycle, and banks raised the Cap Rates at which they valued commercial property -- driving down prices in the market up to thirty percent as the Cap rates climbed from 6% to 9% Second, the drop in sales lowered the demand for product, hitting manufacturers in the gut, both in America and abroad.

We will not see permanent relief until the supply of housing equals the number of qualified buyers. At that point there will be a more orderly increase in housing prices, consumer confidence will increase.

Why is this news?

I don't mean that ironically. I seriously ask: when does a press statement by Kline, or any other member of the MN congressional representation, merit coverage?