Asshole Economics 101: Bulldoze Foreclosed Homes, Bulldoze Excess Supply

By BananaFamine on April 21, 2011 in News 62

Solid proof we’re going to hell in a hand basket. Via CNBC:

Economics, Financial Crisis, Foreclosure, Government, Human Rights, Plunder, Society, Video, Waste, WTF

Charles Manson Breaks Silence: Discussing President Obama, Global Warming And His Followers

Bradley Manning Supporters Heckle Obama During Fundraiser

Office_chad

Yea, why help people find shelter when we can just bulldoze perfectly fine shelter to make assholes feel wealthier. fucktwats.
Office_chad

Yea, why help people find shelter when we can just bulldoze perfectly fine shelter to make assholes feel wealthier. fucktwats.
http://pulse.yahoo.com/_EAPUJHWIYQJWKN7HUCSCVHKVTQ David Meadows

A lot of grocery stores do the exact same thing. If you can’t sell the food, throw it away. If you cant sell the clothes, cut them up so no one can wear them. It’s better to destroy your product than to give it to someone in need in their eyes. Profit above everything.
- BananaFamine
  
  Its a shame. I’ve worked for a restaurants that throw everything away at the end of the night to prevent workers from purposely making more than needed and then taking it home for themselves. While I can understand that that is a problem (although much slighter a problem than let’s say…hunger), it is awful to see perfectly usable goods wasted for the purpose of profit. I had a manager who used to drop off some food at a local shelter, but once he was fired (reasons unrelated) the practice stopped.
  - Irving Greenfield
    
    I’ve known of fast-food places that had a time limit on how long a burger could sit under the heat lamp, and after that time they would often hand them out the back door to the local crackheads, and other homeless types until the someone sued them for “food poisoning” and that practice stopped.
    Restraunts that i have worked at always re-utilized left overs. Baked potato’s were chopped up for hash browns. Roast’s were used in soups and such. It was only thrown out if it was going bad, and could potentially make someone sick.
    Whether it is given to someone, or thrown out, it is still a loss, not profit, and quite frankly, good risk management in a sue happy country.
http://pulse.yahoo.com/_EAPUJHWIYQJWKN7HUCSCVHKVTQ David Meadows

A lot of grocery stores do the exact same thing. If you can’t sell the food, throw it away. If you cant sell the clothes, cut them up so no one can wear them. It’s better to destroy your product than to give it to someone in need in their eyes. Profit above everything.
BananaFamine

Its a shame. I’ve worked for a restaurants that throw everything away at the end of the night to prevent workers from purposely making more than needed and then taking it home for themselves. While I can understand that that is a problem (although much slighter a problem than let’s say…hunger), it is awful to see perfectly usable goods wasted for the purpose of profit. I had a manager who used to drop off some food at a local shelter, but once he was fired (reasons unrelated) the practice stopped.
http://voxmagi-necessarywords.blogspot.com/ VoxMagi

Not even a new policy…this practice has been in place in different forms for decades. The creation of artificial scarcity during a market glut is par for the course….especially in the housing racket. Shaving the bottom percent of houses with low value (but whose very presence combines to lower the value of other homes) is a time honored tradition. Well…maybe honor is the wrong word here…since the destruction of houses to keep artificially inflated prices high and make the books look good is a boondoggle worthy of tar and feathering. The ugly truth behind our housing crash is that it never really ended…because only slight adjustments have been permitted instead of a serious reality check. Housing prices have crashed…but with lots of cushioning to prevent a lapse into their ‘real’ value…which would utterly destroy any number of corporations…far beyond the damage thats been done already.

Imagine a million dollar home in Cali…which is actually a modest number. Its realtime value is far far less than that…and while it may have lost say, for the sake of example, thirty percent of its value and dropped to a paltry 700 K…there is very very little market for 700K houses and foreclosures are still coming…so its authentic value is even less than that…perhaps as little as 200-300K. To admit that this is the case, to accept the loss of value on paper and record such losses across the board with millions of houses in the mix…

…would lead to utter chaos. I wouldn’t mind it…since I don’t work as a mortgage broker, realtor, lender or speculator…and frankly I could give fuck all if they suffer…they certainly were happy to ride the elevator up to the top while committing fraud and collusion every step of the way. But what I am saying is that they will spend every penny they stole buying off Congress to make absolutely sure that their books keep on reflecting the ‘fake’ value their empires are invested in. It may be a little tough to prevent anything they’re doing…unless you feel like getting radical in 2012 and making third parties a reality…but I guess thats up to y’all.
http://voxmagi-necessarywords.blogspot.com/ VoxMagi

Not even a new policy…this practice has been in place in different forms for decades. The creation of artificial scarcity during a market glut is par for the course….especially in the housing racket. Shaving the bottom percent of houses with low value (but whose very presence combines to lower the value of other homes) is a time honored tradition. Well…maybe honor is the wrong word here…since the destruction of houses to keep artificially inflated prices high and make the books look good is a boondoggle worthy of tar and feathering. The ugly truth behind our housing crash is that it never really ended…because only slight adjustments have been permitted instead of a serious reality check. Housing prices have crashed…but with lots of cushioning to prevent a lapse into their ‘real’ value…which would utterly destroy any number of corporations…far beyond the damage thats been done already.

Imagine a million dollar home in Cali…which is actually a modest number. Its realtime value is far far less than that…and while it may have lost say, for the sake of example, thirty percent of its value and dropped to a paltry 700 K…there is very very little market for 700K houses and foreclosures are still coming…so its authentic value is even less than that…perhaps as little as 200-300K. To admit that this is the case, to accept the loss of value on paper and record such losses across the board with millions of houses in the mix…

…would lead to utter chaos. I wouldn’t mind it…since I don’t work as a mortgage broker, realtor, lender or speculator…and frankly I could give fuck all if they suffer…they certainly were happy to ride the elevator up to the top while committing fraud and collusion every step of the way. But what I am saying is that they will spend every penny they stole buying off Congress to make absolutely sure that their books keep on reflecting the ‘fake’ value their empires are invested in. It may be a little tough to prevent anything they’re doing…unless you feel like getting radical in 2012 and making third parties a reality…but I guess thats up to y’all.
Prose Stylist

More Keynesian hogwash.
- bedleysmutler
  
  Please explicate . . . if you can.
  - http://hormeticminds.blogspot.com/ Chaorder Gradient
    
    If ya make mo money then the world is a better place right? Also if you destroy things that are ugly then its like there never was a problem… right? Just don’t think about how no one has any money, then it’ll seem like everything is fine and dandy
  - Prose Stylist
    
    Which part of the interview do want explained to you? There are a few notable Keynesian arguments being espoused here, from both overstimulated housing being responsible for the supply problem in the first place, to then destroying the housing for the sake of assisting a recovery.
    
    If you have studied Keynes’ General Theory, surely you can see the blatant reference to Page 129.
Prose Stylist

More Keynesian hogwash.
Happypedro

Completely sociopathic. A perfect showing of why Capitalism is not only extremely wasteful but also a modern day form of slavery.

It is not Capitalism which as brought prosperity to the world; it has only brought prosperity to a very select few while enslaving most of the world and devastating the global ecology; it has only been with the fight AGAINST Capitalism that we have found some prosperity — a livable wage, safe(r) work environments, and banishing of child labor, the 8 hour work day (as opposed to the unending work days under the “free” market of the early 1900s).

As Derrick Jensen says, we live in a society where people need to pay for a place to sleep, and pay for food to eat, and if they don’t someone with a gun will come to force them to pay (or bulldoze what was their home): that’s a society based on violence.

Any society which allows anyone to suffer greatly while others live with far more than they need is pathological.

As Michael Parenti rightly states: “Wealth creates poverty.”

In the United States (and around the world as a result of the capitalism’s violence) there are millions who are suffering greatly while the power elite owning class live in a thousand laps of luxury.

Dr. Gustav M. Gilbert, a psychologist assigned by the U.S. Army to study the minds and motivations of the Nazi defendants at the Nuremberg tribunals, describes the one characteristic that connected all the defendants: “Evil, I think, is the absence of empathy.”
- Eszpresso
  
  It is sad to see someone quote the ignorant so eagerly ‘ As Michael Parenti rightly states: “Wealth creates poverty.” ‘.
  
  Anyone who has actually viewed poverty will observe that poverty breeds poverty. If any of you lefties had the balls to get a REAL JOB working “down in the hood” would see that poverty is self-inflicted. The rich might not be much help, but they are certainly not much harm. If you want to see who is really a drain on society, look at which ethnic groups and social classes are filling our prisons. You won’t see many rich people there on charges of carjacking, credit card fraud or rape. You will see rich people giving generous tips at restaurants and paying rent for a lot of waitresses (my daughter being one of them – she says minorities are terrible when it comes to tipping). The rich are not the problem.
  - Youridiot
    
    to bad you cant see past you own nose!! You fucking SNOB… If the laws were just, most of the people you discriminate against in your statement wouldn’t be in prison, Yeah once your down its hard to get back up, especially in this so called free market capitalistic environment, were wealth breeds wealth and if you dont have well fuck u. But you sound like you’ve had a silver spoon shoved far up your own arse, that, seeing that fight would be abit much for you to accept. Oh ethnic groiups so your also racist, Ah rich and a racist, perfect combination = Arsehole..
  - sonicbphuct
    
    it is sad to see someone be so ignorant when calling others ignorant… you’re response was actually a response to: “How do douche-bags see things?” But it’s nice to see a happy serf worshiping their CEO King. Eszpresso, you renew my faith in Human Stupidity.
  - http://profiles.google.com/madmanmikey Mike Gordon
    
    I won’t dispute that poverty breeds to more poverty anymore than I would object to the idea that rich breeds more rich. If someone can be born on third and think they hit a triple then it’s likely that someone can be born walking back to the duggout and thinking they struck out.
    
    My dopey platitudes aside, the rich do commit crimes – Bernie Madoff might be the best example of this. The problem is that the rich are more connected and more quiet when they commit a crime. Do a drive by and that sometimes makes a front page. Fuck up an entire world economy with “exotic” economic packages and vast fraud of your customers and that makes the front page of the economic section… If your paper has one. And if you make it past the comics to that section.
    
    Finally, the very people put in place to regulate the industry are people who were in charge of creating the problem. In America, the economic sector and the economic regulatory sector are in bed with each other and so closely related that it would make rural West Virginia native say “Why, that ain’ right…”
  - Risingupangry
    
    I won’t dispute that poverty breeds to more poverty anymore than I would object to the idea that rich breeds more rich. If someone can be born on third and think they hit a triple then it’s likely that someone can be born walking back to the duggout and thinking they struck out.
    
    My dopey platitudes aside, the rich do commit crimes – Bernie Madoff might be the best example of this. The problem is that the rich are more connected and more quiet when they commit a crime. Do a drive by and that sometimes makes a front page. Fuck up an entire world economy with “exotic” economic packages and vast fraud of your customers and that makes the front page of the economic section… If your paper has one. And if you make it past the comics to that section.
    
    Finally, the very people put in place to regulate the industry are people who were in charge of creating the problem. In America, the economic sector and the economic regulatory sector are in bed with each other and so closely related that it would make rural West Virginia native say “Why, that ain’ right…”
  - jon
    
    what are you a fuckin idiot??
    the rich get off cause they pay up whenever they rape,steal, and drive a car over people.
    ya ever been to a ghetto??
    no jobs no money no hope…wow gfy
- Greg
  
  Can you explain what Capitalism is?
Happypedro

Completely sociopathic. A perfect showing of why Capitalism is not only extremely wasteful but also a modern day form of slavery.

It is not Capitalism which as brought prosperity to the world; it has only brought prosperity to a very select few while enslaving most of the world and devastating the global ecology; it has only been with the fight AGAINST Capitalism that we have found some prosperity — a livable wage, safe(r) work environments, and banishing of child labor, the 8 hour work day (as opposed to the unending work days under the “free” market of the early 1900s).

As Derrick Jensen says, we live in a society where people need to pay for a place to sleep, and pay for food to eat, and if they don’t someone with a gun will come to force them to pay (or bulldoze what was their home): that’s a society based on violence.

Any society which allows anyone to suffer greatly while others live with far more than they need is pathological.

As Michael Parenti rightly states: “Wealth creates poverty.”

In the United States (and around the world as a result of the capitalism’s violence) there are millions who are suffering greatly while the power elite owning class live in a thousand laps of luxury.

Dr. Gustav M. Gilbert, a psychologist assigned by the U.S. Army to study the minds and motivations of the Nazi defendants at the Nuremberg tribunals, describes the one characteristic that connected all the defendants: “Evil, I think, is the absence of empathy.”
Happypedro

Completely sociopathic. A perfect showing of why Capitalism is not only extremely wasteful but also a modern day form of slavery.

It is not Capitalism which as brought prosperity to the world; it has only brought prosperity to a very select few while enslaving most of the world and devastating the global ecology; it has only been with the fight AGAINST Capitalism that we have found some prosperity — a livable wage, safe(r) work environments, and banishing of child labor, the 8 hour work day (as opposed to the unending work days under the “free” market of the early 1900s).

As Derrick Jensen says, we live in a society where people need to pay for a place to sleep, and pay for food to eat, and if they don’t someone with a gun will come to force them to pay (or bulldoze what was their home): that’s a society based on violence.

Any society which allows anyone to suffer greatly while others live with far more than they need is pathological.

As Michael Parenti rightly states: “Wealth creates poverty.”

In the United States (and around the world as a result of the capitalism’s violence) there are millions who are suffering greatly while the power elite owning class live in a thousand laps of luxury.

Dr. Gustav M. Gilbert, a psychologist assigned by the U.S. Army to study the minds and motivations of the Nazi defendants at the Nuremberg tribunals, describes the one characteristic that connected all the defendants: “Evil, I think, is the absence of empathy.”
bedleysmutler

Please explicate . . . if you can.
http://hormeticminds.blogspot.com/ Chaorder Gradient

If ya make mo money then the world is a better place right? Also if you destroy things that are ugly then its like there never was a problem… right? Just don’t think about how no one has any money, then it’ll seem like everything is fine and dandy
Godozo

In the city of Gary there’s a whole bunch of houses standing around that have been long abandoned. I’ve watched over months as houses had their windows broken, doors knocked down, aluminum standing torn off, insides taken out for “recycling,” brick walls crumble down brick by boring brick, fires burn up houses…and they’re still standing. Tearing down some of these houses (or better yet, rehabbing them) would make more sense, but people would rather sit back and watch things fall apart in slow motion.
Godozo

In the city of Gary there’s a whole bunch of houses standing around that have been long abandoned. I’ve watched over months as houses had their windows broken, doors knocked down, aluminum standing torn off, insides taken out for “recycling,” brick walls crumble down brick by boring brick, fires burn up houses…and they’re still standing. Tearing down some of these houses (or better yet, rehabbing them) would make more sense, but people would rather sit back and watch things fall apart in slow motion.
Prose Stylist

Which part of the interview do want explained to you? There are a few notable Keynesian arguments being espoused here, from both overstimulated housing being responsible for the supply problem in the first place, to then destroying the housing for the sake of assisting a recovery.

If you have studied Keynes’ General Theory, surely you can see the blatant reference to Page 129.
ArgosyJones

What a collection of morons. Rick Santelli should be drug out and shot. The other guy should just be shot and then drug out. Makes me sad.
- Woo
  
  The guy on the left, Joe something, has a really weird face, and his smug smirking is awful.
  He is just revolting. His house should be bulldozed down with him in it… by the government or whoever has a bulldozer handy. That might help him with his weird face and smirking problems.
ArgosyJones

What a collection of morons. Rick Santelli should be drug out and shot. The other guy should just be shot and then drug out. Makes me sad.
ArgosyJones

What a collection of morons. Rick Santelli should be drug out and shot. The other guy should just be shot and then drug out. Makes me sad.
Irving Greenfield

I’ve known of fast-food places that had a time limit on how long a burger could sit under the heat lamp, and after that time they would often hand them out the back door to the local crackheads, and other homeless types until the someone sued them for “food poisoning” and that practice stopped.
Restraunts that i have worked at always re-utilized left overs. Baked potato’s were chopped up for hash browns. Roast’s were used in soups and such. It was only thrown out if it was going bad, and could potentially make someone sick.
Whether it is given to someone, or thrown out, it is still a loss, not profit, and quite frankly, good risk management in a sue happy country.
Jason Slupski

These ass-hats need to be sodomized by the homeless population in my community, which constitutes Thousands of People! ABSORB THAT!
http://profiles.google.com/cattusnero Jason Slupski

These ass-hats need to be sodomized by the homeless population in my community, which constitutes Thousands of People! ABSORB THAT!
Woo

The guy on the left, Joe something, has a really weird face, and his smug smirking is awful.
He is just revolting. His house should be bulldozed down with him in it… by the government or whoever has a bulldozer handy. That might help him with his weird face and smirking problems.
Tio Holtzman

Profit is more important than life…well, non-millionaire people’s lives, anyway.
Tio Holtzman

Profit is more important than life…well, non-millionaire people’s lives, anyway.
Hadrian999

many people are buying into the false argument that everyone involved in real estate is some billionaire trust fund baby, many people who work in the industry are very far from wealthy and live month to month like everyone else and face financial ruin if the properties they sell lose value, playing it up as a pure rich vs. poor class war my feel good but it is far from accurate.
Hadrian999

many people are buying into the false argument that everyone involved in real estate is some billionaire trust fund baby, many people who work in the industry are very far from wealthy and live month to month like everyone else and face financial ruin if the properties they sell lose value, playing it up as a pure rich vs. poor class war my feel good but it is far from accurate.
justagirl

i’m going on a red-hot-poker.
justagirl

i’m going on a red-hot-poker.
Eszpresszo

Before you lefties get off on an anti-capitalistic spiel, remember that FDR did the same thing with commodities – paying farmers to burn their crops to prop up commodity prices. His Republican predecessor, Hoover, disapproved of interventionist policies. Having worked as a laborer on “tract home” developments straight out of high school, I have difficulty swallowing all this. I worked in the 100 degree heat to put the siding on homes that are actually only a mile away from the house where I am typing these comments. Those homes still stand to this day. That was in 1977. and the workers were all Americans – Anglos no less. Five years later, the same jobs were being exclusively done by illegal aliens. Is there any wonder why we the working class and the middle class (I went on to college after a stint in construction) are so broke? There is no room in this debate for SILLY lefty ideology or SHAMELESS “free market” idealism in this scenario.
Eszpresszo

Before you lefties get off on an anti-capitalistic spiel, remember that FDR did the same thing with commodities – paying farmers to burn their crops to prop up commodity prices. His Republican predecessor, Hoover, disapproved of interventionist policies. Having worked as a laborer on “tract home” developments straight out of high school, I have difficulty swallowing all this. I worked in the 100 degree heat to put the siding on homes that are actually only a mile away from the house where I am typing these comments. Those homes still stand to this day. That was in 1977. and the workers were all Americans – Anglos no less. Five years later, the same jobs were being exclusively done by illegal aliens. Is there any wonder why we the working class and the middle class (I went on to college after a stint in construction) are so broke? There is no room in this debate for SILLY lefty ideology or SHAMELESS “free market” idealism in this scenario.
- EthnicLookingToTakeYourJob
  
  see, all these jobs got shipped over seas and then white people were like, hey i don’t like doing shitty jobs, and then these guys from mexico came and started doing stuff for sub-minimum wage so there was this vicious cycle cuz the middle and low-class had their job opportunities superimposed and combined into one shitty conglomerate which they had no say in. But ultimately it comes down to former Democratic presidents and ethnic groups with their damn labor-reform and “hoopties”
Eszpresso

It is sad to see someone quote the ignorant so eagerly ‘ As Michael Parenti rightly states: “Wealth creates poverty.” ‘.

Anyone who has actually viewed poverty will observe that poverty breeds poverty. If any of you lefties had the balls to get a REAL JOB working “down in the hood” would see that poverty is self-inflicted. The rich might not be much help, but they are certainly not much harm. If you want to see who is really a drain on society, look at which ethnic groups and social classes are filling our prisons. You won’t see many rich people there on charges of carjacking, credit card fraud or rape. You will see rich people giving generous tips at restaurants and paying rent for a lot of waitresses (my daughter being one of them – she says minorities are terrible when it comes to tipping). The rich are not the problem.
Youridiot

to bad you cant see past you own nose!! You fucking SNOB… If the laws were just, most of the people you discriminate against in your statement wouldn’t be in prison, Yeah once your down its hard to get back up, especially in this so called free market capitalistic environment, were wealth breeds wealth and if you dont have well fuck u. But you sound like you’ve had a silver spoon shoved far up your own arse, that, seeing that fight would be abit much for you to accept. Oh ethnic groiups so your also racist, Ah rich and a racist, perfect combination = Arsehole..
Greg

If you need the point of why these commentators are idiots, watch this video about The Broken Window Fallacy.

http://www.youtube.com/watch?v=LKSGMkOlAw0
Greg

If you need the point of why these commentators are idiots, watch this video about The Broken Window Fallacy.

http://www.youtube.com/watch?v=LKSGMkOlAw0
- Nigelp1h1
  
  Okay we’re willing to concede that Keynesian theory has had its day. But Milton Friedman doesn’t seem to be helping at the moment either. Look at the devastation caused by Reagan in the 80′s and also Margaret Thatcher in Britain. Besides China basically owns the US now ! What we’re witnessing now is a ‘Ponzi’ scheme played out by Nation States. Eventually someone has to pay, who will it be ? The poor, the underclass, Marx’s lumpen proletariat, the usual suspects, people like you and me !
Greg

Can you explain what Capitalism is?
Sonicbphuct

it is sad to see someone be so ignorant when calling others ignorant… you’re response was actually a response to: “How do douche-bags see things?” But it’s nice to see a happy serf worshiping their CEO King. Eszpresso, you renew my faith in Human Stupidity.
http://profiles.google.com/madmanmikey Mike Gordon

I won’t dispute that poverty breeds to more poverty anymore than I would object to the idea that rich breeds more rich. If someone can be born on third and think they hit a triple then it’s likely that someone can be born walking back to the duggout and thinking they struck out.

My dopey platitudes aside, the rich do commit crimes – Bernie Madoff might be the best example of this. The problem is that the rich are more connected and more quiet when they commit a crime. Do a drive by and that sometimes makes a front page. Fuck up an entire world economy with “exotic” economic packages and vast fraud of your customers and that makes the front page of the economic section… If your paper has one. And if you make it past the comics to that section.

Finally, the very people put in place to regulate the industry are people who were in charge of creating the problem. In America, the economic sector and the economic regulatory sector are in bed with each other and so closely related that it would make rural West Virginia native say “Why, that ain’ right…”
Risingupangry

I won’t dispute that poverty breeds to more poverty anymore than I would object to the idea that rich breeds more rich. If someone can be born on third and think they hit a triple then it’s likely that someone can be born walking back to the duggout and thinking they struck out.

My dopey platitudes aside, the rich do commit crimes – Bernie Madoff might be the best example of this. The problem is that the rich are more connected and more quiet when they commit a crime. Do a drive by and that sometimes makes a front page. Fuck up an entire world economy with “exotic” economic packages and vast fraud of your customers and that makes the front page of the economic section… If your paper has one. And if you make it past the comics to that section.

Finally, the very people put in place to regulate the industry are people who were in charge of creating the problem. In America, the economic sector and the economic regulatory sector are in bed with each other and so closely related that it would make rural West Virginia native say “Why, that ain’ right…”
justagirl

HELLO?! is there any other kind?!
justagirl

HELLO?! is there any other kind?!
Nigelp1h1

Okay we’re willing to concede that Keynesian theory has had its day. But Milton Friedman doesn’t seem to be helping at the moment either. Look at the devastation caused by Reagan in the 80′s and also Margaret Thatcher in Britain. Besides China basically owns the US now ! What we’re witnessing now is a ‘Ponzi’ scheme played out by Nation States. Eventually someone has to pay, who will it be ? The poor, the underclass, Marx’s lumpen proletariat, the usual suspects, people like you and me !
EthnicLookingToTakeYourJob

see, all these jobs got shipped over seas and then white people were like, hey i don’t like doing shitty jobs, and then these guys from mexico came and started doing stuff for sub-minimum wage so there was this vicious cycle cuz the middle and low-class had their job opportunities superimposed and combined into one shitty conglomerate which they had no say in. But ultimately it comes down to former Democratic presidents and ethnic groups with their damn labor-reform and “hoopties”
jon

what are you a fuckin idiot??
the rich get off cause they pay up whenever they rape,steal, and drive a car over people.
ya ever been to a ghetto??
no jobs no money no hope…wow gfy
Tinamarie

What about handing them over to the services that place homeless people? I don’t know.. just agrivates me.. if there is anything I hate is double standards. this is an example
Tinamarie

What about handing them over to the services that place homeless people? I don’t know.. just agrivates me.. if there is anything I hate is double standards. this is an example