Clearly, the elite media wants to get The Great Unwashed to start spending compulsively so that their own portfolios will rise to pre-crash levels. I heard the NPR broadcast that Baker rightly pillories -- I mean, how fucking stupid do they think we are? A rhetorical question.
The problem is not consumer attitudes, as many commentators seem to believe. Rather, the reason that most homeowners aren't buying a lot right now is the same reason that homeless people don't buy a lot of things: they don't have the money.