Being a government means never having to say you’re sorry. And it also means you get to blame everyone else for all the problems you’ve caused.

Earlier today, I reported on the latest job numbers which are disappointing and worrisome. If you read that and thought “there they go again, those perma-bear Austrians,” I’ll point you to this weeks housing data. After all, just because the job market points toward stagnation doesn’t mean that news is bad everywhere. If you’re well-positioned to benefit from asset-price inflation, things are looking good.