What Would Ludwig von Mises Do?
Detroit Fress Press: Families fight for their homes
The “free market” is alive and well in Michigan. As global competition and corporate mismanagement worsen the impacts of a state-wide economic downturn in Michigan, people of all income levels are getting a taste of that "free-market" freedom.
As of Sept. 1, 40,110 Michigan families were seriously delinquent on their mortgages or in foreclosure. In metro Detroit alone, nearly 26,000 homes were in foreclosure. The state's 2005 mortgage delinquency and foreclosure rates are 50% higher than the national average, a startling statistic that reveals a large number of metro Detroiters are being forced out of their homes and into financial ruin.
Part 1 of 2 part story
1 comment:
During the campaign "Dubbya" often quoted former Pres. FDR. I think a better question than what would Von Feces do is what would FDR do?
Maybe he wouldn't have allowed this kind of "free market" fiasco to happen in the first place. Remember October is "Black Friday, month". Maybe November should be
designated, "Watch you pensions disapear" Month, especially if you work for an airline.
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