Carl Bloice: There are an estimated 3.5 million seriously delinquent mortgages out there. There were nearly 2.7 million foreclosure filings on about 1.9 million homes last year. That’s down from 2007, but it’s still about one out of every 69 homes in the country.
Tim Gatto: The U.S. has brought back the 5th Fleet that will patrol Latin America and the Caribbean. The U.S. has also leased seven military bases in Colombia (Venezuela’s next door neighbor) for a 10-year period. These bases are being promoted as a way of interdicting the supply of cocaine that reaches America. According to the L.A. Times, back in 2003 the U.S. and Columbian governments were successfully eradicating coca plants. We can all see how well that has worked out. Personally, I am very skeptical about America’s resolve in wiping out the coca crop. I am also skeptical about Columbia’s commitment to stopping the flow of cocaine into the United States.