My editor knows something about economics. At least, he says he does.

He knows more than I do, which to me makes him an authority.

He likes to terrify us during editorial board meetings with little hypotheticals, like: "Suppose a massive hurricane hits, and you lose your roof. Sure, you have a windstorm policy, but because it's now so expensive, you opted for the highest possible deductible...say, $12,000. So you go to the bank for the twelve grand, and they say, 'We're not lending, especially to you, since the value of your home has dropped below the amount of your mortgage.' Now, multiply that by several hundred thousand cases, and you've got a real catastrophe."

Then he says that the only solution will be for the state to step in and start handing out money to people so that they can pay their deductibles. Since the state is required to balance its budget every year, that means all of us taxpayers will have to step in, including those who bought before the bubble and whose mortgages are not upside-down. A political nightmare.

Which is when we turn our eyes to our rich uncle in Washington for Federal relief. You know that old expression, "There are no atheists in foxholes?"

Try this one: "There are no Libertarians in roofless homes."