The US government IS the US housing market.
The US Government underwrote 96.5% of the mortgages in the 1st quarter 2010, up from 90% 2009. How many homes do you think would have sold without the US government intervening in the mortgage markets through Fannie, Freddie, Ginnie and the FHA?
Do you think mortgages rates would be 5.12% without the US government writing 96.5% of the mortgages? Would mortgages be this low without the Fed holding interest rates at near 0% at you the savers expense, and the Fed buying $1.2 trillion in securitized mortgages so, among other things, Fannie and Freddie can keep buying up pumped out mortgages?
Making Homes More Affordable: The Myth of Fannie and Freddie
As Ilargi at the Automatic Earth so succinctly points out in:
"Power, Transparency and Debt":
"Fannie and Freddie (and the FHA and FHLB systems) were once conceived with the alleged goal of making homes more affordable for the poorer segments of the population. And, strike me dead if they don't, most people still believe that's what they do."More Here...
"Which is easily squashed and put to rest by the fact that Congress increased the limits on the size of loans that Fannie, Freddie and the FHA can guarantee to $729,750 in high-cost housing markets."
"Wherever you live, you're neither poor nor in need of taxpayer help if you buy a home that size and that price."
3 Dead in Fire at Greek Bank During Athens Riots
More Here..
What a huge Ponzi scheme, ripe for implosion.
ReplyDeleteThe Oligarchs control our military and money, but by far their greatest weapon is the fake, molded, scripted media.
ReplyDeleteThat is why a blog like this is such a treat. Like a cry in the wilderness, but it is there if you find it, and truthful.
Will the sheeple ever awaken, and if they ever awaken from the Matrix, will they be able to deal with what they see?
Greece government will fall. i see history repeats.
ReplyDeleteIceland government fell in 2009. Kyrgyzstan government was brought down in 2010 mostly because the government increased fuel price by 200 percent. 2010 will be interesting year.
there will be many governments to fall. there might be a rise in dictatorship.
Latest breaking news on USAlies.com:
ReplyDelete"Will oil spill restrain hurricanes?
If the oil slick is still in the Gulf this summer, it could decrease hurricane formation."
Only the fake corp media could make the oil flow into the ocean a good thing.
Notice how the media is referring to it as a SPILL. Not a big deal. We just need to clean it up. Nothing to see here.
right, a SPILL not an ongoing unstoppable catastrophe.
ReplyDelete10 billion barrels of oil.
.
Let's hope BP is successful with their concrete dome plan.
Farnkly, this is socialism.
ReplyDeleteIn fact, it might even be str8 up communism.
The government owns all the houses.
Be happy the U.S. Government is involved in underwriting the lion's share of all mortgages. It keeps the financial system from imploding and gives the tiny minority, who know what's going on, more time to prepare and ultimately profit from this fiasco.
ReplyDeleteAgain. Be happy. This is a good thing.
Do we really need oil???
ReplyDelete1. One square mile of wall-to-wall solar panels, laid out in a desert, is all you need to recharge the batteries in about 100,000 small cars and/or pickup trucks converted to run on an electric motor powered by batteries.
2. There are about 200 or so million said vehicles in America. That means, you need 2,000 square miles of desert space for said solar panels.
3. Arizona's landmass is about 110,000 square miles. 2,000 square miles is practically nothing.
4. Said electric vehicles have an average range of about 50 miles on one charge.
5. Most Americans travel less than 40 miles per day.
6. Europe utilises electric-powered trains to transport people and goods over long distances.
7. Okay. Double require desert space to 4,000 square miles to take care of recharging needs of electric trains and metropolitan box trucks.
8. Electric motors require no motor oil, no gasoline, no diesel, no propane, no natural gas, no anti-freeze. Therefore, ALL oil companies are redundant.
9. For plastics, you can substitute oil with certain plants for raw material. Again. ALL oil companies are redundant.
Now, can somebody please explain to me why we need oil, which God designed to lubricate and ease the flow of tectonic plants? Natural gas is the coolant.
Don't wait for governments and most engineers, who are inept for the most part when it come to fixing this problem. Go to this website and start the ball rolling for yourself:
http://www.evalbum
Brain malfunction.
ReplyDelete"Now, can somebody please explain to me why we need oil, which God designed to lubricate and ease the flow of tectonic plants? Natural gas is the coolant."
s/b
"Now, can somebody please explain to me why we need oil, which God designed to lubricate and ease the flow of tectonic PLATES? Natural gas is the coolant."
Solar power is an abundant, renewable, relatively cheap, and low-tech energy source, especially suited for a county like the US with hundreds of thousands of square miles of empty space.
ReplyDeleteOne might think that the US would be encouraging it's widespread use...unless?
The Elite will only let us have access to limited technology. The energy situation was solved decades ago. Pollution-free, abundant free energy. We just cannot have it.
ReplyDeleteIf we are paying for thy neighbor's mortgage, why is there still homelessness?
ReplyDeleteWe pay our neighbors mortgage so the bank can own it and throw our neighbor out in the street and kick and beat our neighbor in front of us while we watch and are invited to join in and mock them with the implicit threat that we are next if we don't do exactly as we are told.
ReplyDeleteYou will do as you are told!
Obedient subservient uneducated slave!
Bulls on parade.
Hey 4:46, you're right.
ReplyDeleteHear ye, hear ye all ye corporate serfs.
Pay your taxes, pay the Wall St. bailout.
Send your sons/daughters to kill/die in the phony oil war.