Letters to the Editor
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If this is substance, have you got any style?
The 30 bln$ fund is a vague proposal, although she mentions 'communities', which means 'new' communities, the homebuilding industry, and retail stores, which are the twin peaks of urban sprawl. These two groups are the bubble stocks of the 2000's. (Wall St 1, Main St 1)
The 90 day moratorium on foreclosure means almost nothing, since an Ohio court set precedent in this matter. Unravelling the legal ownership is going to take some time. (Wall St 2.... Nobody wants to write these loans off, Main St, still 1)
Mortgage rates aren't going up anytime soon. Since the previous stagflation event in the 70's the Central Bankers have accumulated a great deal more clout, and collusion is a matter of policy. Our Chinese masters are considering price controls to curb inflation. Would those controls apply to US exports? (Wall St 3.... We have to keep the China economic miracle going, that means low interest rates. Disingenous Politics 1)
Families with 'skyrocketing' energy bills includes that McMansion down the street, with a pool and 5000 sq feet of empty space. (Wall St 4, Politics 1, Main St 1 1/2.. the gardener and the pool service keep their jobs...)
We always extend unemployment benefits in a recession, nothing new there. (Disingenous politics 2)
Taxing incomes above 250K sounds a bit like rejiggering the AMT to account for inflation. Eventually, with hyperinflation it will start to take a bite out of average Americans, Main St MINUS 1.
Final tally Wall Street 4, Self Serving Political Statements, 2, Main Street 1/2 point)