They could also put a cap on the mortgage rates of existing ARM mortgages at the expense of Household Finance and not John Q. Public.
Locked in their ivory towers, Bush and cronies don’t have a clue what is happening to neighborhoods filled with abandoned houses.
They’re going to wrack and ruin faster than you can say ’foreclosure’.
Yesterday the Los Angeles Daily News had a story about the rise in calls for mosquito abatement due to the high number of empty houses and unattended swimming pools, and the possible rise in the threat of West Nile virus.
http://www.dailynews.com/search/ci_9496265?IADID=Search-www.dailynews.com-www.dailynews.com
It also seems as if people who are on super tight budgets and still living in their home have made pool maintenance a low priority and cancelled their pool services.
There are squatters living in many of these houses that have no utilities and are rife for either arson or accidental fires. In some cases block after block is filled with nothing but abandoned dwellings. With no one around to mind them, the attendant damage to other homes is very apparent, and in comparison could dwarf the damage done in the historic great Chicago fire regardless of Mrs. O’Leary’s cow’s involvement.
I’m not an economist. Truth be known, I dropped out of Enon-101 just before I would have flunked out. But logic and common sense tells me that West Vile virus is nothing compared to other health problems these empty houses will bring, as well as the trillions of dollars it will cost to clean them up if they are ever to be sold in the future.
Maybe that’s part of Bush’s plan. He’s already contracted with Black Water and CACI
to patrol those empty neighborhoods and rebuild them after they get rid of the squatters and vandals who are now inhabiting them.
Stimulate the economy that would, indeed. Those companies bottom line economy.
One hundred-fifty days to the election, and seven months to -- hopefully -- the inauguration on Barack Obama, and getting everything that’s wrong with the country, including the economy back on track.
Get out you hankies, Republicans and prepare to wave bye-bye to what you thought was your non-stoppable gravy train.
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