Archive for the 'News and Economy' Category

Fed Continues Long Tradition of Financial Corruption with Bailout of Bear, Fannie, Freddie, Aig

The history of the world is little more than smalls privileged groups installing a state system and then using the power of the government to live parasitically off of the production of the vast majority of the people. The past year in the American financial markets have shown that this is still the case, as […]

Foreclosures Around The Nation

Last week, there was a lot of talk about foreclosures and plans to stop foreclosure, but will anyone ever take action? As we all know, public officials, including the president, all like to talk about their “big plans” once they take office, but very few ever deliver. Only time will tell if government offices have […]

The Roots of the Mortgage Crisis — The 1970s

It is not just in economic policies of the Bush administration or Clinton administration that the roots of the current housing market meltdown may be found. The setup of the economy for a pumping and dumping of money into real estate has been an ongoing process since at least the 1970s, a decade of great […]

No Reason to be Jealous of the Housing Bailout Acts - No One Will Get Help Anyway

Some former homeowners who lost a house to foreclosure in the past few years or longer ago seem to feel that the new housing bills are unfairly helping out current borrowers. After all, where was the political activism and federal assistance years ago when other families were being set out on the street? Looking at […]

Housing and Economic Recovery Act - Where Congress and the Banks Meet in the GSEs

The Housing and Economic Recovery Act of 2008 is the new bill passed by the Congress and signed into law that has been explained as providing government help to homeowners facing foreclosure, but which really illustrates just how closely connected Congress is with financial and business interests. The legislation is nothing more than more subsidies […]

The Foreclosure Crisis and Failure in America

The latest “celebrity” foreclosure being reported in the news is that of a family who had been featured on the ABC program “Extreme Makeover.” Although they received a four-bedroom house for free and were also gifted another $250,000 for scholarships and a home maintenance fund, the house is now scheduled for sheriff sale. The outcry […]

Preparing for the Next Depression — Cutting Costs to the Minimum

One of the more distressing aspects of experiencing a financial hardship is the feeling that the bills will never go away or be paid off. Cable television, internet, cell phones, housing phones, and newspaper and magazine subscriptions may be somewhat unnecessary but have become almost indispensable for modern life in America. And all of these […]

Bankruptcy Reform Laws a Failure — Lenders Prey on Borrowers More Than the Other Way Around

The new bankruptcy laws were passed in 2005 when mortgage companies and financial investment firms were artificially pumping money into the housing market to create a huge bubble. Ostensibly, these new laws were meant to curb the large problem of homeowners or borrowers taking out loans, spending too much, defaulting, and declaring bankruptcy to get […]

Creative Local Solutions to Fight the Foreclosure Crisis

It should be clear by now that if there is to be any real long-term solution to the foreclosure crisis, it must come from the local level and involve creative ideas. The federal government has proposed nothing but more centralized power and tax breaks for multinational corporations and have tried to label these schemes “foreclosure […]

Foreclosure Crisis Easing? Nope, Second Wave not Even on the Horizon Yet

If the previous year of record foreclosure rates, falling home values, a declining stock market, and continuing inflation have seemed like too much catastrophe for the US economy to bear, just wait. There will be no short term recovery in the housing market; in fact, foreclosures will continue to increase and property values will keep […]

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