Today’s WaPo reports that federal Agencies are going ahead with homeowner bailouts without answering the questions raised in yesterdays “WaPo and IHT…” post.
It is clear that the intent is to spread around the bailout money to benefit:
Investment banks
Commercial banks
Credit card companies
Hedge fund managers and investors
Insurance Companies
Fannie and Freddie
Autonomobile manufacturers
Airlines
(no need to help Exxon / Mobile yet but in a few weeks…)
and all the others that took actions over the past 20 years that are the prime drivers of settlement pattern dysfunction (the Helter Skelter Crisis) and thus Mobility and Access Crisis and the Affordable and Accessible Housing Crisis, the Wealth Gap Crisis…
In the Short Run:
Over cappuccino, EMR’s best friend said it clearly: “They are rewarding those who did stupid things and punishing those who did the right thing with respect to savings, investment and retirement planning.
Those who invested in the right size house in the right location and who crafted a lifestyle that does not depend on Large, Private Vehicles for their every need are still being protected by THE MARKET for now.
The location and details of mortgage foreclosures (on a Cluster by Cluster, Neighborhood by Neighborhood and Village by Village basis and NOT on a municipal jurisdiction by municipal jurisdiction basis) document this fact.
But how long will this protection last with unsound Agency intervention to save Tiger Riders on a massive scale? Those who fear the Donkey Clan will socialize everything can be at ease, the Elephant Clan administration is already selling off the “means of production” AND consumption.
In the Long Run:
As we said in “WaPo and IHT …”
The longer that Fundamental Transformation of settlement patterns (and Fundamental Transformation of governance structures) is postponed, the more painful and less probable any real “recovery” will be.
It looks like it will be a while before there is light at the end of the tunnel. Both presidential candidates and every Virginia candidate running for the Senate or the House are still talking about going back to “economic growth” rather than finding a sustainable path.
Note to Larry Gross: On the path understanding human settlement patterns one of the few things that is less useful than insisting on using Core Confusing Words is to intentionally misuse terms that are clearly defined. Case in point your intentional misuse of: Urban Support Regions. You intentionally misuse words, phrases and theses and then accuse EMR of being obscure, incorrect or stupid.
If you understood the New Urban Region Conceptual Framework you would know that the graphic you cite on “WaPo and IHT…” supports exactly what EMR has been saying for two decades and for six years at Bacons Rebellion.
EMR does not have time to go back and repeat it for you again. If you are genuinely interested in understanding – that becomes more and more doubtful – you can check out EMR’s repeated answers to your questions over the past – it seems like forever – years.
And for “charlie:” Sorry, “charlie” they only accept smart tuna who understand human settlement patterns. Leverage is really important as we note in “The Shape of the Future” and it gets speculators in trouble all the time but it is the settlement patterns agglomerated over the past 80 years – THE HELTER SKELTER CRISIS – that is the root cause of economic, social and physical dysfunction in contemporary society.
EMR
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