You never know what the third, fourth, or fifth derivative impacts a major economic trend can cause. That is how the collapse of the housing market has created a Chihuahua glut in California, where evicted homeowners are handing over their pets to animal shelters.
The diminutive Mexican canine enjoyed a boom in popularity in recent years, thanks to movies like Beverly Hills Chihuahua and Legally Blonde. Celebrities, like Paris Hilton, have also helped promote the breed, flaunting one in front of the paparazzi. Animal shelters in the Land of Fruits and Nuts have been so overwhelmed they have had to ship the ultra-cute, but utterly useless animals to pounds as far away as Toronto.
Will the unintended consequences of Greenspan’s low interest policy never end? Give the poor Chihuahuas a break! We can count on future dislocations to release more Chihuahuas on the market, as well as other exotic pets. How do you think all those alligators got into the New York sewer system and pythons in the Chicago subway?