Thursday, July 28, 2011

The "free market" in action

The Atlantic explains this shadow inventory chart: “What’s happening to the homes of all those defaulted borrowers that we hear about? Many of those properties are a part of so-called shadow inventory. This is the sort of limbo between when a home’s loan defaults and when the property is put on the market for purchase. The increase shown above is staggering. The shaded area shows mortgages more than 12 months delinquent or in foreclosure (darker blue) and those seized by the bank (lighter blue).”

This is the thanks we get for bailing out the banks: houses going to pot, serving as potential havens for criminals, while many families are made homeless, in order to create an artificial shortage and prop up the prices of houses owned by certain people. I assume the banks would say that they're waiting for "the recovery," despite the evidence that the "expert" economists dictating economic policy intend to destroy civilization as part of their "recovery" plan. (They're actually striving to recover the good old days of feudalism, as hinted by the actions of their puppet-knight Anders Breivik, assuming that Breivik wasn't put up to it by Casey Anthony's attorneys to help her shake off public attention.) Does this make Obama clueless, or evil?