A skeptical leftist's, or post-capitalist's, or eco-socialist's blog, including skepticism about leftism (and related things under other labels), but even more about other issues of politics. Free of duopoly and minor party ties. Also, a skeptical look at Gnu Atheism, religion, social sciences, more.
Note: Labels can help describe people but should never be used to pin them to an anthill.
As seen at Washington Babylon and other fine establishments
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July 31, 2009
Ten percent of California mortgages in default
Wow. And, if the problem is spreading to commercial real estate as well, as the story says, recovery is far away from the Leaden State. With unemployment so high there, homeowners have no money to refinance, and there’s no new buyers on the market, so plenty of defaults.
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