Beth at the Apartheid Wall

[Fire on the Mountain is proud to publish this report, our second (the first is here), from the skirmish line in Palestine, by our friend Beth, who is in Israel for the first time since 1967.]

Later on my first full day in the Jewish state, I took a tour sponsored by the Israeli Committee against House Demolitions (ICAHD). This is a tour that takes you to places just minutes from Jerusalem that most tourists won't see. I was on a minibus with 12 filmmakers, circus performers and artists from a community center in the North of Norway. They had plans to go to Gaza a few days later to work with children in a community center for the next month. We drove out of West Jerusalem with the guide giving some of the basic statistics:

1. There are 450,000 "settlers", Jewish Israelis who have settled in the areas occupied since 1967.
2. Half of those settlers live in what used to be known as "East" on the other side of the green line.
3. 3% of the land of the West Bank is physically occupied by settlers.
4. In addition, Israel controls 40% of the land of the West Bank for so-called "security reasons."
5. During the most recent stab at a "Peace Process", Israel started talking about a Palestinian state for the first time. If they honestly about wanting peace, they would have to stop construction of settlements. Construction has not stopped for one day, more are planned and more are being built, giving more time to Israel to establish what they call "facts on the ground".

While I have seen pictures of the settlements encroaching on the land of the Arab villages, nothing can really prepare you for seeing it face-to-face. We drive up into the hills, into what was East Jerusalem, occupied only by Palestinians until 1967. The bus stops and we get out at a huge billboard advertising "Nof Zion," a settlement being built just above Jebel Mukaber. According to its website, this will be "a private luxurious neighborhood, (with) beautifully designed landscape, high end construction level, a community synagogue."

It will be "a harmonious residential neighborhood occupying an area of 461 acres marked by terraces and adorned with olive trees and vines." And there will be a hotel for visiting relatives. The apartments, 3, 3.5, 4 and 5 rooms, start at half a million dollars--dollars, not Israeli shekels. Of course, the name and phone number of the US sales director is on the billboard. Perhaps there will harmony inside this gated community, but there will not be harmony with the Palestinians down the hill.

Up to this this point, we have observed the normal signs of civilization like well-paved streets, traffic lights, sidewalks, street lights, and gardens. We drive down the hill into Jebel Mukaber. There are mounds of garbage as trash is only occasionally picked up by the Jerusalem municipality. There are no street lights. There are no gardens, no trees, and no sidewalks.

The municipality "should", by any standard of decency, be providing these same ordinary services to the Palestinian community but they are not. G reported that a Jerusalem City Council member responsible for such things was asked how many gardens there are in West Jerusalem. He replied that there are 1,438. When asked about gardens in East Jerusalem, in the Palestinian communities, he had to look it up and found that there are twelve.

Our next stop, just outside the village of Jebel Mukaber, was outside a compound with a gate that opened as the cars drove in and out, a few large buildings housing about 100 families. An American Jew who made his money in bingo parlors built this and other compounds. A father and his 4 sons drove up, watched us and rolled down his window. He started yelling at our guide, angrily, threateningly. We walked up to our minibus and he followed, continuing to berate our tour guide, G, a Jewish Israeli who has come to see the country he was born in from a very different angle.

G, a bit shaken, explained that the man had promised him a long and painful death; he said that G was a Nazi and that we were all Nazis out to kill Jews. The few words I had understood were that G was instilling hatred of Jews in all of us. As a matter of fact, G discussed the policies being implemented as matters of land seizures and population control.

As we drove along toward Abu Dis, we stopped a site where two buildings, seven stories high, with 33 apartments, had been demolished in May of 2005. There have been 18,000 homes demolished in the territories occupied by Israel since 1967. In Jerusalem, there are now about 100 home demolitions every year. The Palestinians are given a demolition order because they have built without a permit. They try but they cannot get permits to build on their own land, or to build additions to their own homes. The demolition order will take effect in one day or 3 weeks or 6 months. The families live in constant fear, not knowing when the order will be implemented.

When this building was bulldozed, 33 families, between 150 and 200 men, women and children became homeless. Imagine all the emotional connections you have to your home – where you eat breakfast in the morning, the mirror you look in as you go out each day, the little tchachkes everyone in the family has put here and there. And then it's all demolished inside a half hour and you have only what you were able to grab and remove in that short time. It seems to me that creating such fear and anxiety in a civilian population is terrorism.

We went to see The Wall where it cuts through the neighborhood of Abu Dis. A campus of Al Quds University is on the other side of the wall while much of the community remains part of "unified" Jerusalem. To get to Al Quds, one only has to walk about twenty minutes out of the way, where the wall has not yet been built, cross over and walk twenty minutes back to where you started but on the Palestine side.

The magnitude of the wall is staggering. One woman from our group, a circus aerialist, tried to climb it but gave up about two yards up. I won't give facts and figures. The grassroots Palestinian anti-apartheid wall campaign publishes more information than you would ever need on the wall and the non-violent struggle being waged against it. There are fact sheets and all the latest news about the situation here.

Then we went to Maale Adumin. Started by 23 families in 1975, the population is now close to 35,000. It looks like a suburban town in Long Island, with a large mall, fountains, lawns, and people jogging along the sidewalks. Maale Adumim residents use double the amount of water of the people in the rest of Israel. This is done in order to artificially create those lawns and fountains and beautiful landscaping. Why is the so-called "only democracy in the Middle East" doing this? To people paying taxes to its government? The construction of the settlements like Nof Zion and about a dozen already existing communities in the area of the Jerusalem municipality including Maale Adumim will help deal with the "demographic problem"-- facilitating a Jewish majority in the Jerusalem municipality.

The next morning, I have plans to see my aunt at noon but when I stopped at the ICAHD office first, two Amnesty International volunteers are being taken out to see the house that was demolished the day before, so I tag along. Abu Siam Abasi and his wife and 5 children had lived in Silwan. He was expelled two years ago. He was told this was done in order to do an archaeological dig where his home was. He applied for permits to build in a nearby village but was denied. Eventually he built a home in the village of Atur.

Two months ago, the home was destroyed. His family moved in with relatives and they worked on a small 2 room shack that they could live in temporarily. Two weeks ago, he died of a heart attack. His wife and children were in mourning in a rented apartment nearby when, on Tuesday, August 5th, the authorities came and bulldozed their shack. And, incredibly, the family whose house is destroyed is expected to pay for the bulldozing of their home!

Then I went to visit my aunt, who moved here three years ago. She lives in a senior residence in a neighborhood next to the ultra-Orthodox Mea She'arim. It's a lovely place where my uncle, who has since died, lived on the nursing home floor and she has her own 1 bedroom apartment on the 4th floor. She has adjusted well since her children and all her grandchildren are here, going to exercise classes and learning Hebrew and playing scrabble and going for walks. We walked through her neighborhood, which was quite religious enough for me.

I knew enough to be wearing a skirt but, in the 90+ degree heat, wouldn't bring myself to put a long sleeved sweater on over my t-shirt. She is a liberal NY area Jew, trying to figure out who to vote for. She's having trouble with this since her cable only brings her FOX news, she can't even get CNN. I promised to send a few relevant articles to dissuade her from voting for McCain.

She doesn't seem to have the sense I get from many Israelis, like the cabbies I speak with, that the whole world is out to get them. We spend a pleasant few hours talking mostly about family and I am reminded of how important that has been in my life. And yet it hurts that I cannot bring myself to tell her about what I have been seeing.

[Part 3 of Beth's report can be found here.]

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Bite Size Bad News 9--State and Local Budgets

I'm kinda worried about Gus the Polar Bear.


See, every time there's a budget crisis here in NYC, there's a sort of charade that gets played out as city officials proclaim that things are so dire that almost all services will have to slashed to the bone. Invariably it is announced that it will probably be necessary to close the Central Park Zoo.

As soon as the tabloids and the evening news broadcast this, elementary school classes are mobilized and thousands of letters pour in demanding that the zoo be saved and that its most famous resident, the severely neurotic Gus, be allowed continue doing business at the same old stand.

This threat serves two purposes--to warn the public that the crisis is real and, at the same time, to provide a smoke screen for the deep but less visible cuts which are actually made while the zoo remains open.

This is what seems to be happening in California, where a dispute between the legislature and Governor Schwarzenegger over how to close a $15.2 billion budget gap been raging. The Governor recently played the California version of the Gus card--ordering that 20,000 part-time employees of state government be laid off and trying to reduce the pay of all full-time state employees to federal minimum wage, $6.55 an hour.

The newspapers openly call this as a scripted drama which has been played out before, and report that once a budget is passed, the lost pay will be made good by the state. Folk I know in Cali say that that's probably true but that the press seems suspiciously insistent on declaring that there is no real threat. The problem is that the state is broke, bad broke, and someone is going to pay--maybe the part-timers, whose return the media seem much less assertive about.

Things could get even uglier in New York. Governor David Patterson has called an emergency session of the legislature for later this month to deal with the unfolding budget crisis.

Paterson offered another example of the rapid deterioration in the state’s finances. In June 2007, he said, the 16 banks that pay the most on their business profits remitted $173 million to the state treasury. “This June, just a month ago, they sent us $5 million — a 97 percent decrease,” he said.

New York City, even more dependent than the state on revenues from the FIRE sector (finance, insurance, real estate) will take a proportionately bigger clobbering.

This time any threat to Gus may well turn out to be real, and require new approaches to save the zoo. Do you suppose polar bears eat banker?

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Mahmoud Darwish, ¡Presente!

Mahmoud Darwish
13 March, 1942 - 9 August, 2008
Palestinian Freedom Fighter & Poet

I Come From There
Mahmoud Darwish

I come from there and I have memories
Born as mortals are, I have a mother
And a house with many windows,
I have brothers, friends,
And a prison cell with a cold window.
Mine is the wave, snatched by sea-gulls,
I have my own view,
And an extra blade of grass.
Mine is the moon at the far edge of the words,
And the bounty of birds,
And the immortal olive tree.
I walked this land before the swords
Turned its living body into a laden table.

I come from there. I render the sky unto her mother,
When the sky weeps for her mother.
And I weep to make myself known
To a returning cloud.
I learned all the words worthy of the court of blood,
So that I could break the rule.
I learned all the words and broke them up,
To make a single word: Homeland....


[h/t Lars Akerhaug}

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Beth Checks In: I'm Back In Jerusalem

[It is far too easy for progressives and lefties in the US to let the occupation of Palestine fall off the radar, and awfully hard to keep organizing and protesting our own government's complicity in that crime, in the face of omnipresent pro-Israel propaganda and the depressing "facts on the ground." FotM has been guilty of this neglect, too.

Now Fire on the Mountain is proud to publish the first of what we hope will be several reports from the skirmish lines there, hot from the keyboard of a friend who has not faltered in the fight for justice. Beth is an East Coast trade unionist and antiwar activist, who has returned for a two week visit after last being in Israel in 1967, in the immediate aftermath of the Seven Days War.]

I came to Israel to spend time with a good friend, R, and to see with my own eyes what I can about the situation here. I arrived at Ben Gurion airport a few minutes early and got through customs easily. I think it helped that I said "yerushahlayim" instead of "Jerusalem" when the woman who checked my passport, the fifth time it was checked that day, asked where I was staying. Going to get my bag, there was a line of men holding signs to identify themselves to the people they were there to pick up; the first sign I saw was "AIPAC". Welcome to Israel.

R is an Israeli woman I met in New York. She has lived in NY for many years, came back to Israel in February and is now working with the Israeli Committee Against House Demolitions (ICAHD). The first nights, we went to dinner at her friend's home in a nearby neighborhood, previously home to many poor Mizrachi Jews (those from the Arab countries) and now being gentrified.

Her friend Y has been an activist in the feminist and the women's peace movement in Jerusalem for many years. She no longer wants to act out of anger and despair. She has seen so much conflict and burnout among colleagues here who are committed to a just peace. Now she has decided to work on developing forms for promoting and protecting the well-being of activists.

Also visiting was a dance therapist from France who is here for a few weeks doing workshops with groups of Palestinians and Jews. This is one small piece of the work Y wants to do with activists. Emphasizing the rhythm of the breath and the beating of hearts, the same for Israeli Jews and for Palestinians, using percussion instruments and dance forms, the hope is that people can go beyond their differences to the core rhythms and find community. So far, the workshops have been for Israeli Jews one day and for Palestinians the next, with only a small amount of integration.

A, Y's partner, is a human rights lawyer who defends individual Palestinians in criminal and security cases. I find myself wanting to write "so-called" in front of so many words. Throwing stones at a tank, for instance, is a "so-called" breach of Israeli security. It used to be that 90% of Palestinians who were arrested in such cases were tortured. Not Abu Ghraib torture, but torture none the less-- being made to sit on a slanted stool with your hands shackled behind you, hooded, with music blaring, for hours. That has alleviated somewhat, since the early '90's, he says, in the less serious cases.

When the suicide bombings began, Israel would destroy the house, the home, where that Palestinian had lived. His parents, and/or wife, siblings, children became homeless. There are still many, many Palestinian homes being demolished (more on that in my next post), but, with appeals to the High Court, since 2005, none for security reasons.

Thousands of Palestinians were kicked out of Kuwait when Iraq invaded in 1990; they fled and swamped towns and villages in the West Bank. Many of them had West Bank identification papers but those papers only allowed them to remain for a few months as they had been gone for years and had lost their residency rights.

A took cases of groups of twenty at a time to court to get their visas extended so they and their families could stay in the West Bank. Close to 1,000 cases were brought to the court. Eventually, an agreement was made, out of court so it was not a binding legal decision, and they were allowed to remain in the West Bank. (In fact, there was no where else they could go).

The first morning I woke up in Jerusalem, I decided to do the standard tourist tour at the City Hall. Arriving a few minutes late at Safra Square, just across from the walls of the Old City, I joined a large group of about 30 Israelis from other cities. The guide, speaking in Hebrew, was explaining the history of the area. I listened, and understanding only half of what was being said, searched for the English tour guide. I found her, with a small group, 2 women, 6 girls, all American, all religious. I was in shorts and a t-shirt, like all the Israelis in the other group. These 8 were all in long skirts and long sleeved tops

First in 1890, a wealthy British businessman had a municipal building established in that spot. Then, in 1930, the British Barclay Bank agreed to put up the money for a City Hall if they could use part of the building as a bank. The requirements of providing services to the growing Jerusalem meant that more and more space was required. Eventually, in the late 1980's, the Safra Brothers company from South America, put up the money for the current complex of buildings if the area would be named for them. And so, Safra Square.

The guide talked about the educational system, all four parts of it – the secular national schools, the religious national schools, the ultra-religious schools and the schools for the Arabs. These are all separate systems. I found out later that day that there are 9,000 Palestinian children living in Jerusalem who are not going to school. No new schools are being built.Those who are able to attend school have forty children in a class and they are on double shifts.

We were taken to the City Council chambers and then to see the view from the roof of the building. There are now 750,000 people in what is called the Jerusalem municipality, much of it annexed since the 1967 war. 1/3 of them are Palestinians. There are 31 members of the City Council. The Palestinians have no representation.

"But they get everything," said one of the women in the tour. The guide weakly said that no, the services are not equal. Ambulances often don't go the East side of Jerusalem because there is little signage indicating names of streets so they can't find locations. In fact, I later found out that while 1/3 of the tax money that flows into the Jerusalem tax coffers comes from the Arab population, only 10% of the services go to their neighborhoods.

The tour guide explained that during the last election, the Palestinian Authority told the Arabs not to vote because that would show support for the Zionist state. She said perhaps this time, later in 2008, they would take part in the election and if so, 1/3 of the Council could be Arab. "Which way do you want it?" she said.

For many reasons, this is totally not going to happen. At this point, there are only three members of the Council who are to some extent opposed to the policies of expansion into the Palestinian neighborhoods and the demolition of homes. Most of the other 28 are from the right wing religious parties.

We went to the building's basement to see the City Model for Jerusalem, which now goes, they tell us, from Atarot to Har Homah, Both of those neighborhoods that have been built in the area I would call "occupied" since 1967, and they call "annexed". The model (according to the brochure) depicts "the existing state in the town center and the adjacent neighborhoods and in particular future projects that are being planned in Jerusalem."

It is a huge display of all the buildings, streets, parks that exist and that are planned. She pointed to an area in between French Hill and Maale Adumin, two areas that have been built on land that was part of East Jerusalem until, as the guide said "we came back after 19 years". She showed the plans for that area, saying that the United States is not letting it happen, that Condoleezza Rice has said it is not allowed because of international law.

The Geneva Convention, which Israel has signed on to, has rules against changing the population balance of an occupied land. The annexation of Jerusalem has not been recognized as legal by the world, not even by the United States. The religious woman said, "We’ll see!" When the guide pointed out the Museum of Tolerance--which is being built, I found out later, on the ruins of a Muslim cemetery--I choked at the irony, the chutzpah, of such a project.

I walked back toward my friend's apartment through a large park. There were people out for a walk, with their rifles. I saw two couples, husband and wife with a baby carriages and the men had rifles slung over their soldiers. There's a pervasive sense of tension.

After that, I had to get a reality check. I went to the Alternative Information Center, (AIC), founded in 1984 by Jewish and Palestinian activists who believe that ending the occupation is the immediate goal, but go on to argue that ending the conflict means much more than that and that Palestinians and Israelis have to live together and work together for the society to function in a healthy way.

I met with C, born in the US, living here since the mid-‘70's. She said that it seems to her harder to be an antiwar activist in the States than to be active in the fight here. When she comes back to visit, she sees so many ways to not pay attention to what's going on, while, here, it is in your face all the time. It cannot be ignored so she feels she has less choice but to do what she does.

I argued the contrary, that she was much braver than I doing her work here. She talked about how much money is being made with the expansion of the Jewish areas into what was East Jerusalem and into the West Bank with construction of houses and roads and tunnels. And then, of course, there's the wall, the largest infrastructure project ever undertaken in this country. There is no discussion of this process in the mainstream Israeli media, of whether or not this is the kind of society they want to have. She said, "They don't acknowledge we're in the Middle East".

AIC does not get into the endgame of 1 state or 2 states. Rather, they work based on universal principles of justice, equality and feminism. There is a second office near Bethlehem. AIC works to get a Palestinian voice heard on the issues being discussed – keeping a bridge open between the two societies, showing that it is possible to work together long-term. She stressed that the Palestinians should not have to wait for Israeli society to understand what has been going on before they can speak out for justice for themselves.

AIC compiles and distributes information about Palestinian and Israeli society since both are, for the most part, stereotyped in the media. She talked about how the majority of people in both societies have lost ground since Oslo. One in three Israeli children are living in poverty.

Since Palestinians are no longer allowed to come into Israel for work, much of the manual labor is done by migrants. The agricultural workers are Thai; people from the Philippines, Sri Lanka, Nepal and Eastern Europe are home care workers, Chinese do construction and Africans do cleaning. The situation is, of course, much worse in the West Bank and even worse in Gaza. Israel now has the second largest gap between rich and poor in the developed world--second only to the US.

The group hosts international delegations when they visit and is well-connected with activists around the world in the World Social Forum. They get funding from progressive Christian organizations in Europe and England and from a few governments in Europe. I asked how she, as an individual, functions within her society.

She talked about the importance of being who she really is day-to-day, that Israelis need to be confronted on a personal level. For example, when the bus driver, for no reason, gives the Palestinian who comes onto the bus a hard time, she asks the driver why and stands up for the Palestinian rider as the driver argues and other passengers start defending the driver.

I ask if she feels hopeful. She says that, incredibly, her Palestinian colleagues are more hopeful than she is, so that gives her hope.

{Part 2 in Beth's report can be found here.]

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Midnight Music 2--"You, Me And The Bourgeoisie"

Advance warning--the first few seconds of this cut are an ad for some fucking cell phone service that sends you concert announcements via instant messaging or some such. There are at least two other versions of this tune by The Submarines on YouTube, with no commercials, but the words are easiest to understand on this one.



And in case you still had a bit of trouble, this sample from the lyric should show you why it's worth another listen.

Plastic bottles, imported water
Cars we drive wherever we want to,
Clothes we buy, it's sweatshop labor,
Drugs from corporate enablers.
We're not living the good life
Unless we're fighting the good fight,
You and me just trying to get it right.

Of course to take the cheap irony of the opening plug for the cell service in this particular video into whole rich realms of cultural self-negation, consider that if "You, Me And The Bourgeoisie" struck you as slightly familiar, there's a reason. It has recently been used in a commercial for Apple, Inc.'s hot new rollout, the iPhone 3G. Oy...

I still like it, and have always been a sucker for musicians trying to do this kind of linking of the personal and political. So whaddaya think? Have I played myself here, going for the okey-doke from a buncha sellouts? Or is this a song that belongs to the forces of sweetness and light, but is so catchy and persuasive that it can be loved even by those without a clue (think Timbuk 3's "Future's So Bright...")?

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Commonwealth Bands: Bottom-up Socialism in Jazz

I'm reading a book, One O'Clock Jump, on the legendary jazz band, the Oklahoma City Blue Devils, a "territory band" that played, in various incarnations, from about 1923 to 1933. Their fame resides not in their output--they only cut one lone 78 the whole time--but in the players who cut their teeth in Blue Devil ranks en route to bigger gigs and lasting fame. We're talking about the likes of Lester Young, Jimmy Rushing, Oran "Hot Lips" Page and Count Basie, to name a few. Hell, Ralph Ellison jammed with them as a high schooler.

What struck me, for purposes of this post, was the following sentence:

We do know that the Blue Devils were a democratic entity, a "commonwealth band" as they termed it, with no leader who received more money than the others.

The author, scholar Douglas Henry Daniels, goes on to flesh this out, explaining that at different times, different members took on the role of manager for a couple of years, adding that

these members did not make decisions for the band; in other words, they were not managers whose word was final. The Blue Devils' motto was "All for one and one for all"--like their heroes of the movie based on Alexandre Dumas' The Three Musketeers. Members had some say in their choices and they all voted on major decisions.

According to Daniels, this was a common practice among the jazz bands of the Southwest until the Depression. How do ya like that! Cultural workers, famously individualist, spontaneously choosing an essentially socialist organizational model. And these outfits, evolving toward the swing bands of the thirties, could have a dozen members or more!

If, dear reader, you know anything else about this phenomenon, please drop a word in the comments. Come to think of it, surely there's a book in here someplace, on economic (and artistic) democracy in popular music, with more on the territory bands of the Southwest and later but smaller jazz combos and with plenty of experience from the rock and roll world to look at, both positive and negative.

I leave you with a taste of what the Blue Devils contributed to jazz, a Soundie from the thirties featuring at least two of the band's alumni, singer Jimmy Rushing and pianist/bandleader Count Basie.

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Bite Size Bad News 8--Housing Capital

As of June 30, housing prices in the US are down 15.8% from one year earlier. This is being reported as the destruction of $3.25 trillion worth of value.*

Well, sort of. The capital the business press says has been destroyed has both a fictitious and a real character.

The fictitious aspect has come to the fore because the legendary “newer sucker” of capitalist theory has failed to show up. As long as you could actually sell your house to someone for more than you paid for it, everything was copacetic. You didn’t even have to sell. You could borrow against that increased value and have real money in your bank account (and, alas, owe the lender real money too, plus real interest). Once you can only unload that house at a fire sale rate, if at all, it becomes clear that a lot of that “value” wasn’t very real at all.

But the destruction of very real concrete physical capital is ramping up, though it’s nowhere near $3 trillion worth yet, That’s actual houses which are being abandoned, and will fall into ruin and never be occupied again.

Some of this is hard to weep salt tears over, of course, like the ghastly exurban developments so recently marketed under banners like “affordable luxury.” Now they are being dubbed “ghost towns with granite countertops,” as rising oil prices have helped highlight the downside of living a long, long drive from work or even shopping. Many of those finished or nearly completed in the last year or so will never be inhabited.

Most of it, though, is houses people need to live in. Buffalo, NY is a good example. The city is among the local governments that have initiated lawsuits against big banks like Citicorp and Wells Fargo and other lenders who have foreclosed on properties or where mortgage holders have walked away, unable to afford their payments.

Buffalo sued in February for $2 million to cover not upkeep which had been neglected but the actual cost of demolishing 57 abandoned properties. 21 had already been torn down. And these are far from the only foreclosed houses standing empty in Buffalo. "It’s our first strike in a wave that would obviously focus on more,” said Alisa A. Lukasiewicz, Buffalo’s corporation counsel.

Demolition is a “lagging indicator” of the housing crisis. Houses can stand abandoned and decaying for a long time before anyone gets around to dealing with them.(or even figuring out who owns them with so many mortgages parceled up into CDOs)

And a lot of what’s been foreclosed on in the hardest hit states—fast growth areas like Florida, California and Nevada—was built relatively recently. And that’s more bad news.

These developments aren’t exactly built to last. Even the ugly but pricey new McMansions you see occupying nine tenths of a lot in wealthier suburbs are crap—nice-looking flooring laid over cheap plywood, paper-thin wood veneer on those pre-made kitchen cabinets, foam-core or hollow doors, drywall keeping the place upright as much as or more than the flimsy 24” o.c. frames.

They aren’t going to last the way old Iowa farmhouses or Philly row houses or even NYC tenements do. With no maintenance, never mind squatters, they’ll crumble fast.

And billions more in real capital will be destroyed, while those who created this mess—the predatory lenders, the executives at the big banks, the money market honchos, and the government economists who hailed it all—will not only make out just fine, but are already waiting to invest and profit when the housing market does finally bottom out.


*And that's not including the losses in value of the CDOs, the collateralized debt obligations whose collapse triggered the credit crisis (no one has any idea how much), or in the bear market in stocks which has resulted from the credit crisis ($2.3 trillion just in the U.S. S&P 100 so far).

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