It's the end of the "rampant consumerism" era. I think the other 49 states are going to kick California out of the United States and build a big fence around it. Then the California politicians who fought so hard to deliver the right to live the U.S. dream for ALL PEOPLE, can live that dream however they want. It's turned into a real nightmare for the rest of the U.S.
But I'm sure Richard Alarcon has some good reasons why this has nothing to do with the foreclosures in his district. And how we need to come up with MORE entitlement money to solve the problem. AND, we cannot let all of this economic hardship get in the way of delivering that U.S. dream of home ownership to all people. It wouldn't be fair to prevent someone from owning a nice, big, new home who can't afford it, because remember people...IT'S NOT THEIR FAULT THAT THEY CANNOT AFFORD IT!IT IS YOUR FAULT AND YOU SHOULD BE TAXED AND PICK UP THE TAB FOR EVERYONE ELSE'S DREAM!!! Toilet cleaners should be "middle class," too! There should be no "lower" only "middle!"
But now, these greedy politicians just killed the golden goose by squeezing too much out of it...and it's all about to backfire on them. Hey Villar/Nunez/Cedillo/Romero...the party was fun while it lasted....now you just made the problem worse for the people you represent, cause now they are all jammed in here...and you are no longer going to be able to deliver on all your "Robin Hood" legislation and all "your people" will be left holding the bag on the streets as the entire city turns into skid row. HEY ALARCON...BETTER JAM AS MANY "ROBIN HOOD" MOTIONS IN THERE ASAP...your ATM machine just ran dry.
NEXT: Why the down housing market is BIG BAD NEWS beyond foreclosures. (Hint: The whole Cali economy was based on "building and construction" and now that is dead.)