Dig it! Dr. Housing Bubble’s “Shadow Inventory Amegeddon” is a very slick piece

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Dig it. This link is to a very, very, slick piece. The whole article and its charts, right down to the pseudonym for the author. But its narrative is fallacious. Oh, I know it is what we are used to hearing, about how there is a stubborn glut of foreclosed homes that need to be brushed aside before the housing market can recover.  But the whole column in general, which for all I know is written by a bankster think tank, if not by one of its apparently mindless soldiers, actually serves to cover up a thoroughly evil agenda fostered by perverse incentives, an agenda that both American parties, the red and the blue, let’s call them the purple gang, allowed, so they would be re-elected by their bankster masters.

See, there wasn’t really that much of a housing bubble…  Not the way you heard it eh?  Well, then listen up to the reality of a few underlying facts.  First, the concept that reducing the foreclosed housing glut is a fundamental prerequisite to an economic recovery, is only logical so long as that logic stays alone by itself in a vacuum, a vacuum filled with brainwashed mainstream bankster controlled narrative. Sure, there were areas where developers overbuilt, and buyers who were not prudent, or those who were speculators, and so forth.  But there were also millions of unsuspecting American homeowners who worked hard, and did everything right, only to have the economic rug pulled out from under them by the most collasal fraud in world history.  Secondly, if the dollar had not been devalued over the last fifty years, then, the prices of American homes would not have appeared too high.

No, we didn’t just witness a housing bubble, and we are not viewing the stubborn remainder of inventory populated by deadbeat borrowers that need to be brushed aside in order to bring about a recovery.  Nope, there will be more foreclosures, and more so-called deadbeats to marginalize, and this worldwide economic crisis is not going to go away, as long as the central bank monopoly, by virtue of the vast sums of money it can move around, control legislators, judges, and the mainstream narrative, to remain above the law, and get away with originating loans, to people and to countries, that can never be repaid.

Government deregulation of bank monopolies, followed by the involvement of Bank of America, and the other major mortgage lenders, and Wall Street firms in an escalating scheme to populate and of necessity repopulate empty shell securitizations on the Secondary Market with fraudulently rated high yielding mortgage Notes; and the big bank’s creation of incentives, financial rewards and higher commissions offered to aid and abet their representatives to originate risky loan terms in order to fulfill the high yielding terms of the fraudulent securitizations, and the fraudulent sale of those too-good-to-be-true securities to national and international pension and investment funds and unwitting international banks, has been the fundamental factor of the worldwide economic collapse.

When history looks back upon what happened to the Eisenhower administration’s original structure of the Secondary Market, the engine responsible for America’s boom years, it may euphemistically reflect that the world experienced fallout from a “Subprime crisis” caused by deregulation, or a “housing bubble” caused by over-optimistic speculation and borrower fraud. There may be little mention that we have witnessed a pandemic breakout of unethical, immoral, unscrupulous and oppressive economic conduct, sanctioned by politicians, lawmakers, and their financial supporters behind the world’s most powerful central banks.

Meanwhile Wall Street, the banking monopolies, and a comparatively few very rich people, are making record profits and giving record bonuses to themselves, while millions of families are worried about having a roof over their heads or putting shoes on the feet of their children.  Many at the top of our United States government are still unwittingly complicit in covering up how the banks caused the economic collapse, because they are worried about alienating their contribution sources, and worse.  According to William K. Black, Senior Regulator for the Federal Home Loan Bank during the S&L crisis, and currently Professor of Economics and Law at the University of Missouri, the U.S. government’s entire strategy in dealing with the economic crisis is a massive whitewash.  “[They] don’t want to change the bankers, because if we do, if we put honest people in, who didn’t cause the problem, their first job would be to find the scope of the problem.  And that would destroy the cover up.”

In short, the so-called Bank of America and its international central bank partners are failing to learn from the mistakes of the past, which will condemn them, and all of us, to repeat the same practices, and undergo the same serial behavior, exacerbating the continued deterioration and future collapse of the economy.

We are not just dealing with an economic purgatory for the families who were trapped by the big banks duplicitous and outrageously fraudulent conduct, involving the herein described scheme of populating the secondary market, at any cost, with an ever increasing supply of unsustainable high yielding mortgage notes, often involving the switching and forging of loan documents in order conform them to the high yielding requirements of the securitization trusts, while the originating banks bet against those very securities once they rated them Triple A or Double A and sold them around the world.  We are dealing also with a full-fledged moral crisis, a cover up, and ongoing validation of unethical banking practices and crimes, with far reaching consequences for many who will be convinced to emulate the conduct of the banks that won.  It is a crisis bound to result in unprecedented ideological and political blowback.  It is a local crisis here in Los Angeles, and it is an international crisis, similar in characteristics but much greater in scope than so many previously orchestrated financial disasters, such as the 1857 national bank collapse that was the fundamental cause of the United States Civil War, and the reverse engineered financial collapse that made small numbers of people rich, created the Great Depression, and finally culminated in World War II.

It is vital to the California economy that citizens who were steered and tricked into unaffordable mortgages be allowed to make affordable payments and stay in their homes, instead of being pauperized during these precarious times.  But in the absence of lenders like the Bank of America modifying their ill-gotten Payment Shock loans, and the purple gang’s apparent unwillingness to actually compel them do so, it is up to the individual local courts, the courts of the people, to put a stop to the economic drain, and destruction of families, on a case by case basis.  The people of Southern California, and America, deserve such action as needed to coerce the Bank of America and its central bank partners to consider modifying loans that were deliberately structured to self destruct, and in appropriate cases, the courts ought to consider rescinding the loans of borrowers, when there is evidence of concealment, predatory lending or fraud.

Reprinted with permission from the author

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