'Eminent Domain for the People' Leaves Wall Street Furious

[jtuck004]

92. Without the 85 billion the government is throwing in, which is primarly bolstering

investments by the wealthy, and the large hidden inventory the banks are using to manipulate the larger market with, this so-called recovery would be dead in the water. There are at least tens of thousands of homes (probably wildly conservative) that the banks have left, in foreclosure, for 2 and 3 years, else those homes would be driving the values down as well. Home ownership is at 1996 levels yet we have 50 million more people, and even POTUS is suggesting that the rental market is so important that we need to make allocate attention to that.

That doesn't sound like much of a recovery.

Those cannot go on forever, and unless the wealth-generating capacity of the larger middle-class reappears in something new we can exploit, like natural resources or people or something, there is nothing but pain ahead.

There will always be someone to loan, the only question is cost, and perhaps new structures to get away from the old ones that don't serve anyone but themselves any longer.

And while one can say they don't want to live "there", I'm not sure that the larger problems don't connect all of us in some way. This earth is becoming very flat.

That whole "undesirable place to do business" is a tired argument usually used by businesses that doesn't want to pay its fair share of the costs of making a place liveable. WA state taxes the gross of your business, whether you make any profit or not. Yet business starts up here all the time. Is Houston the leader in such things? Sure, but no one has enough money to pay me to live there.

You do have a point, in that the city may or may not make it worse. But it is bad now, and just leaving everything as it stands to play out may not necessarily be the best answer.