The housing bubble’s long emergency (Updated)

[You’ll have to decide for yourself how predictive this might be, and what effect it will have on you and all of us locally. -DS]

Go to Housing as shelter, not speculation

Update [Quote] And that’s where I disagree. We are not spending $850 billion to save people, we are spending $850 billion to save a system. But that system is fraudulent, and saving that system is wrong. We need to help people struggle through difficult times, and then we need to reinvent ourselves. Spending to save the system does nothing to create a new, sustainable, viable system.

So then, what’s the alternative? I believe that the federal government and the states should stop trying to save the banks and other financial institutions, should stop providing trillions in taxpayer dollars to institutions that are already bankrupt and who do not in any way serve the public interest, and should instead use any federal monies to subsidize social support programs during this economic depression. I think that the federal government should admit that the perpetuation of a system of globalization based upon usury is neither moral nor in the public’s best interest. In its place the federal government should provide support and training and funding for projects that recognize the following realities: (1) That the age of growth is over. We have entered the age of sustainability. (2) That saving the system of ‘money-as-debt’ only serves to further incarcerate the people, not liberate them. (3) That the banks and other institutions who have used deception and duplicity and Ponzi schemes to make billions in profits should be held to account.

The bottom line is this: spending money to save a system that has crashed because it is in debt is false. Like with a flooded lawnmower engine, throwing more gas into the tank isn’t going to help the cause. Vermont’s $1 Billion will not fundamentally change the lives and futures of the citizens of the state for the better. It will only, at best, temporize the pain for a brief time. But the system that keeps us in debt-servitude, and that compels us to “consume” when in fact the survival of our planet demands that we learn how to “sustain”, persists.

More of this analysis and context at The Automatic Earth


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