The banking system has captured our government and frustration is boiling over. Yet those in the housing and banking industry seem complacent and even self congratulatory that we “have avoided Great Depression 2.0.” Really? Now we’re taking advice from the same group of cronies that led the economy off the financial cliff. And the most troubling thing is we are at the height of unemployment even though the headline rate seems to have steadied out. California’s unemployment rate still continues to move upward hitting 12.5 percent. Yet all is well in delusional banking world since their idea of a solution is simply not foreclosing. What is even worse, these banking crooks are now offering fire sale deals to other banks and hedge fund investors! I’ve contacted a few banks about short sales and in many cases, preference is being given to “all cash” investors. Glad those bailouts are supporting the crony banking system.
One of the most troubling trends is the belief that all is well because banks aren’t foreclosing on homes or the fact that there is no second wave. Really? Let us look at nationwide foreclosure filings shall we?
Who needs a second wave when the first wave is still in place? Some in the housing industry seem to be patting their back that there won’t be a second wave of foreclosures (even though it is still high) and base this on the mounting distress inventory with Alt-A and option ARMs but no actual foreclosure filing. The wave is hitting as people stop paying their mortgage. Take for example option ARMs. Nearly 50 percent of all outstanding option ARMs are at least 30 days late. In other words, the borrower isn’t paying the mortgage! Yet in some form of twisted abracadabra housing logic, this is avoiding the wave because banks are ignoring the problem. The wave was the distress. Foreclosures are still on the market. The bank balance sheet is still loaded with mortgage junk. But just because banks are putting their hands over their eyes doesn’t mean the issue was avoided.
DO NOT FILL OUT THE CENSUS FORMS WHEN THEY COME, I TALKED TO A FRIEND OF MINE IN GOVT AND HE SAYS THEY WILL USE THOSE FORMS AGAINST YOU WHEN THE CRACKDOWN COMES.
ReplyDeleteThey dont need census forms to shoot you dead. Kill first. Ask later :)
ReplyDeleteTHEY NEED THE INFO ON THEM TO FIGURE OUT HOW MANY TROOPS TO SEND TO YOUR HOUSE
ReplyDeleteRip rip rip
ReplyDelete'Accidental' bomb drops will only happen on target neighborhoods.
ReplyDeleteI love coming to this blog - I really do.
ReplyDeleteYou idiots have an attention span so short you cannot even follow EA lead topic.
Here you have exhibit A ) Topic = Housing Collapse.
Rebuttals ??? Gov't will use Census to stormtrooper your house and kill you dead
and then drop accidental bombs on you.
Nice people - really good job; hey did you hear what they're doing to the new money being printed next month????
The 6th person to touch the money ? Rip Rip Rip
5:20 - Nobody is dragging my ass anywhere.
ReplyDeleteBecause of people like me; our 2nd ammendment rights are strong and intact - I also make sure
my firearms are in good working order and at hand.
Once again I ask you though - what the heck does that have to do with the housing collapse which is alot more important than your imaginary little
friends coming to round us up