At the risk of sounding like a member of the Tea Party, there’s more than a hint of truth about this CNBC Larry Kudlow “Reality Check” Report in connection with US housing. 

It’s what Japan didn’t do, and what the US doesn’t want to do: a bit of “free market shock therapy”, as Kudlow says. 

Oh, that and abolishing taxes on production, thrift and employment – and introducing a land tax, of course!