The Peter Principle Works Harder Than You Do

Mr. President, are you sure we shouldn’t try putting it in R? That couldn’t be much worse than this:

Sales of previously owned homes plunged 27.2% nationally in July — payback from the expiration of a popular federal tax credit that had fueled the market for much of the year.

The big drop, which was worse than what many analysts had expected, sent stock markets tumbling Tuesday morning as investors feared a double dip in housing.

“Worst than what many analysts had expected.” Who are these analysts, and why, after 18 months of expecting Keynesian voodoo to work, do they still have jobs?

Fire some of those people, and maybe some decent people can start finding work again.