Friday, August 27, 2010

Thousands Stand In Line For Mortgage Help

 — The Palm Beach County Convention Center filled again today with tales of mortgage woe.
Before dawn, with a plump moon overhead, a line of desperate homeowners trailed around the outside of the building. They slept in beach chairs or on blankets on the ground, refugees from a bad economy, bad loans, or bad decisions.
They stayed even as the rain poured down on them. Because for most of the people in the queue, the Neighborhood Assistance Corp. of America is the end of the line. The last chance to save their home.
The non-profit group will be at the convention center through Tuesday helping people get lower monthly payments through loan modifications. At least 1,000 people arrived before the doors opened.
“If the banks won’t come to you, you go to them,” said Detroit resident Brian Kelley, 44, as he blinked rainwater from his eyes.
Kelley, a Ford Motor Company employee, whose salary has been cut nearly in half, flew into Fort Lauderdale on Thursday, got a ride to the Tri-rail station, and took the train into West Palm Beach.
More Here..

South Africa Near Anarchy

Police Plan To Join Strike In Defiance Of Court Order. A growing strike of hundreds of thousands of public workers was creating chaos in South Africa on Friday.


  1. Sucks for those who have made their payments religiously...But if you don't help these people who are trying to stay in their homes it will cascade into an avalanche of foreclosures hurting everyone.

    It's a smart business idea as long as these people have some type of income...If economy falls all bets are off and we're at stage 1 again.

  2. Palm Beach County, now there is a hotbed of fiscal brain trusts. If you know anything about that real estate market, you know the people living there were insane to buy those crappy hyper-inflated homes on the upswing.

    Welcome to paradise.

  3. Likelihood of a double dip coming(In reality, we never came out of the first dip):

    Prepare for doomsday!

  4. non profit group...hmm
    "if banks won't come to u, u go to them" so go straight to them-if their not dealing then let them know your needs but refusal to pay some outside company
    some of these mortgage mod company's will take their fee..shuffle some paper, then stall out and refuse to refund any fee's
    it's a racket all around and wouldn't doubt some lenders own these mortgage mod company's

  5. Once America was a productive manufacturing industrial power after destroying its competitors in WW2 ,But ,even after abandoning and defaulting on the gold backing of the dollar it developed a Fiat Dollar Hegemony economic system in world trade and finance by using the IMF the WTO etc. .
    The Dollar System , was backed by militarism to subjugate other countries to its dollar sphere of influence from Korea to Vietnam to Iraq and Afghanistan –millions have died – And even more millions in the third world have had their own industrial economic development blocked by US support for every puppet Elite dictator and oil OPEC monopoly Sheik it could hook into this US dominated ‘Free Trade” in cheap labor and natural resources system , in return for a cut in the profits by the local elites .
    US government finances were wrecked by the cost of paying the interest on treasury bonds deficit spending for these wars and for subsidizing the military-industrial complex while de-industralisng its own productive of material wealth sectors of the economy.
    The export of capital ,including foreign investment in cheap labor economies and the creation of AID usury dependency converted countries into- export of labor created wealth economies - dependent on the First World for markets and to a need get dollars to buy oil priced in dollars.
    In the end before its collapse into a sea of unpayable debts the US economy was running on credit A huge out of control government deficit and a trade deficit to match.
    .Its finance sector accounting for about 40% of profits and valuation on the stock exchange. Pre-crisis Its dividends paid to investors in its corporations were
    only equal to the foreign inflows of credit . Trillions were flowing into invest in government treasuries and AAA rated fraudulent bonds.
    America had become a giant unproductive for real internal profits or wealth creating Ponzi economy . Its “workers” a non exploited ,subsidized, petty bourgeois “middle class” Labor aristocracy consuming more in wealth (fed on credit) than it actually created as a cut in empire profits. Its main function as the lower middle class being an absorber of credit to finance a shopping mall economy, 70 % or more driven by consumption and serial bubble markets of shares and overvalued property including housing mortgages .
    A dead hand finance usury capital economy , and not even now of a productive industrial capitalist economy type .
    Where the power of old accumulated money invested as capital sucks its lifeblood from the living a nation of Debt Peons . Debt Peons to capital trapped on a debt treadmill in “their” housing with now useless maxed out credit/debt cards.
    Millions are unemployed . With more than 40million dependent on food stamps for survival happily entertained by American Idle, Survivor TV culture ,gossip / politics , sex stories as entertainment. diversions.. in the old degenerate Rome, where its official Freemen citizens became in the end dependent on slaves , citizens bread and state run Circus handouts and diversions.
    Thus the US and its dollar Hegemony is dead ,the looting barbarians of wall St own America and the ass of its enslaved debt peons . Lackeys, beg the government for even bigger deficit handouts, in the hope that somehow they can escape the treadmill to live on their food stamps without more foreclosures .
    As if the finance tribe barbarians of wall st and the elite rich , and their paid politician agent/managers really cared!
    You had your cake on credit ,so welcome to a third world economy of underemployment
    Eat your food stamps and stop whining American debt Peons .
    Your old economy and American Dream will never see recovery for decades as the debts to usury must be paid off .
    Thats the American capitalist way of rewarding ‘hard working ‘ capital

  6. 9:20
    so right.
    america never learned from history so they are repeating it.

  7. Accept Credit Cards Online has excellent customer service, no contracts or cancellation fees and very reasonable rates. I have never had any issues with them, and plan on keeping them as my processor for a very long time. My sales rep was Danielle at (877) 877-9592.


Everyone is encouraged to participate with civilized comments.