The Morning Mix, for September 18, 2012 - 8:00am
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I gamble in the stock market, even though I'm a leftist (try to ride the tiny greentech and cannabis related stocks, but it aint easy.)
As such, I've been studying econ topics -- macroeconomics, I suppose you could say.
I haven't heard Wolff et al since the announcement of QE-Infinity, but this amounts to a super-pernicious mega-expansion of the role of the Fed, a private-bankster organization. As if printing money with wreckless abandon weren't enough, it's now getting piped right into the MORTGAGE-BACKED instruments.. those scummy 1%-ers pronouncing "Gee, we'll boost the housing market, that would be swell." The middlemen of course being the fascistic CREDIT INDUSTRY which has just recently switched into super-reluctant mode.. i.e. you cant get access to da CaPITaL unless you're already quite well-off, and most importantly uber-obedient to the banksters with the FICO to "prove" it. This is a sure recipe for yet-further exascerbating the exponential increase of the rate at which the middle class disappears and the U$A soon resembles feudalism far more than a Republic or democracy.
So what I'm sayin' is, you gotta dig for the alternative viewpoints on the net. To wit:
(I'll think of more, don't worry. Meantime, keep checking back here, and urge the admins to at least put a little flag or something next to archive entries which have been commented upon, so's we can more easily read what peeps' sayin.)
AS for y'all needing some specific advice, I'll recommend this guy, even though his politics are conservative-- he's super-focused on consumers not getting ripped off and knows a whole lot about credit hassles etc.. it's a AM-radio call-in show and he treats people with respect. Maybe we can even knock some sense into him if we forward along enough sane facts to burst his obvious MSM bubble..
Routinely, the banksters foreclose on a property within 6 months (not
giving the homeowner a refi), yet they already got paid through the bailout
(gave themselves raises or whatever). When they foreclose, they get a
second payout (double dipping) for the one property they're foreclosing
upon. To make matters even more egregious is the banksters let the
property taxes go into a delinquent state. This is allowed in all cities
and counties that a property can be delinquent in property taxes for up to
5 years before the State takes the property and puts it up for auction.
So, the banks then avoid paying the delinquent taxes by passing this
obligation onto the buyer of the foreclosed property.
This delinquency is causing vital services to be cut in each city and county of our fair state.
So, our elected officials should institute yet another cost saving/money generating law
in that banks which foreclose on a home should be required to pay the
property taxes from day 1. Surely, they can afford it and they owe it to
the taxpayers of each city and county since we bailed them out because they
were "too big to fail" -- and they're failing us now yet again at every
Dear Davey D,
Props for covering the home foreclosure crisis, but it was a somewhat confusing discussion. There was no mention of “Robo Signing.” The explanation of how programs like HAMP worked was not clear to me. It was clear that your guest meant well, but I was left very confused. You both did not directly state the key fact that President Obama said that he would not support a home foreclose moratorium, because it would “hurt the market.” The result is that 8 million families, and rising, have been pushed out of their homes.
If the focus was to explain the home foreclosure crisis; it may have been more enlightening to have along with this guest, a Prof. Richard Wolff to more completely break-down the issues for us laymen.
Or maybe the framing and focus should have been more of a support service for those families fighting home foreclosure.
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