The bubble bursting housing market set off a rapid decline resulting in our current economic depression. Bursting of the housing market bubble was exacerbated by sharp rises of oil, food, and everything else. The fix envisioned by bureaucrats at all levels is more government intervention and monetary policies resembling New Deal socialism. The ownership of capital markets is the end of economic freedom.
The problem with our government’s corporate banking and business bailouts relates to a general rule of thumb that goes something like this: Government programs tend to last nearly forever. Historically, the promise of a temporary alleviation is most a government ploy to increase power. Welfare was supposed to be a temporary solution to economic crisis before and after WWII. Welfare statism is the norm on both sides of the Atlantic. Federal tax reimbursements to local communities with federal facilities were to compensate local schools, thus making taxation fair and equal. That an excuse for Congress to initiate the Elementary and Secondary Education Act. ESEA and its newest version NCLB was supposed to help the poor obtain a quality education. The old song and dance is still sung by bureaucrats, but ESEA has never just helped the poor or poor school districts. ESEA has always benefit non-poor. The same is the case with State Children Health Insurance Program. These are programs like all other socialist program to rob American of their freedom supposedly with their consent.
Once government gets the control over money, markets, jobs, and the rest of our lives it will not like end without the same struggles that George Washington, Abraham Lincoln, Polish, or the many other peoples across the globe. The consolation is that our written national compact still gives Americans a peaceful means to right wrongs of government.
Anyway, foreclosures (and property ownership) serves as an indicator of the state of American economic independence. According to reports by RealtyTrac, foreclosures in the U.S. rose 80% in 2008. Foreclosures in Ohio soared 26 percent. Of 113,570 filing in Ohio, the Miami Valley accounted for only about 14% or 16,318. It seems property ownership that is supposedly the realization of the American dream is more illusion than reality. The reality is no one owns any property, at least for 20-30 years, except the federal money market.
The good news is foreclosures in Greene County were relatively low by comparison to the rest of Ohio. Only 940 foreclosures were recorded in 2008, which is less than 1% of all Ohio filings and only 5.8% of all foreclosures in the Miami Valley. Greene County is thus blessed compared to other surrounding countries.
Greene County residents also adhered more to principles of our founding during the past election than many other regions. Could there be a correlation?