It appears that Miami-Dade county is experiencing an unbelievable rate of eviction and/or foreclosure. As the economy spirals into an abyss of incessant debt, someone has to ask the question, how did you say we got here again? Did anyone even ask that question? In the Presidential debates it was Obama who pointed out that the unfettered banking and investment industry sank the country. There were not enough checks and balances and now we hear that Miami Dade evicted 311 families in January of 2008, as opposed to 38 in January of 2007. Can you say recession?
But who’s really on the receiving end of the failed banking and investment industry? Have you heard of any officers of any of these financially strapped banks or executives on Wall Street filing for food stamps? Being put out of their home? Or even having a car repossessed? Not me. I, for one, believe that the system that has been allowed to run amuck only existed for that very reason. The white collar fat cats can stay fat and have their pockets lined and then to top it all off, be bailed out. But blue collar America is given the shaft and the hoodwink time after time. Hurricane Katrina provided a perfect example of the fact that the low income and/or middle class have been on the bottom of the list of this country’s priorities. Katrina victims are still essentially dealing with the same problems they had three long years ago. They have not been “bailed” out and if they didn’t receive any assistance with housing what could it possibly look like for them now?
Miami-Dade county is throwing people out on the street at a rate reminiscent of the Great Depression era, although, many of them did not own their homes. But, the housing market is in a shambles because banks made promises to people and invented banking products to put them in homes they knew they couldn’t afford, so they could then snatch them back and sue the original owners while also reselling the property. Sounds like a “hand over fist” scheme to me. But then, some of the banks, so greedy, ended up closing their doors. Now that was not staged. Read here while I find my shoes. Bush better keep practicing his duck on the way out of the White House.