WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Greenspan goes north -- Peter and Shirley Scheeren

We've made it a policy not to credit Greenspan's Body Count with deaths due to property bubbles in foreign countries. Foreign central banks and regulators had control over their own markets, even if many of them chose to follow the Maestro's murderous easy-money policies.

Though today's story won't make the official GBC roll, it goes to show that bubbles, debt, and tragedy are inexorably linked around the world. Today's story comes from the Vancouver Island town of Langford:
Autopsies are expected to be carried out today on an elderly couple found dead in their home in an apparent murder-suicide.

RCMP named the couple as Peter Scheeren, 77, and his wife Shirley, 73


The couple bought the yellow bungalow, which has a large wraparound porch, about 30 years ago.

The mortgage on the home was paid off but the couple took out a mortgage for $125,000 in 2002, according to land title documents.

Peter Scheeren’s occupation is listed as a manager, but neighbours say he used to own a development company. Shirley Scheeren is listed as a homemaker.

The couple had owned the property next door, which they sold a few months ago. A house is in construction on the lot.

The Scheerens had a variance application before Langford council to subdivide their two-lot, bare-land strata property into three lots. That would have carved off another lot on what is now a septic field.

Langford council approved the variance at its meeting Monday night.

The couple also used to own the property at 2562 Jeanine Dr., where their son, John Scheeren, lived with his wife before selling the property.

Jane Frankson, a neighbour, recalled Peter Scheeren quipping about their pensions not going as far as they hoped and that he was relieved to have sold the adjacent lot. But he did not mention being in financial trouble, Frankson said.

Greenspan's successor Ben Bernanke deserves some blame here as well. His zero-interest rate policy (ZIRP), followed closely by the Canadian central bank, has been murder on the elderly.


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