But the federal government through the phony-auspices of preventing economic collapse is funding the banks so they can throw people out of their homes, and so that the price of housing does not collapse from its ridiculously inflated level, so people have to get a mortgage -to buy back into a home due to this government-sponsored artificially high price of a home.
This is not benefiting the consumer or the economy. The economic collapse is simply accelerating. And the consumer is losing economic where-with-all every week due to the accelerating collapse of the economy.
More people are ending up homeless, and the banks are requiring ever more bailout funding from the federal government to keep the ruse of recovery going.
These trillion dollar hail Mary passes being repeatedly thrown at the bankers are hardly rebuilding the economy. The original assertion was that the 700 billion TARP dollars urgently needed to be thrown with no questions asked at the bankers, would prevent economic Armageddon.
It looks like economic Armageddon to me with all these people living homeless in this country, so many desperate for work, and more and more futures being destroyed due to our government's ridiculously corrupt banking bailout efforts -that can only be taken to be meant to create wage slaves of everyone who is still working.
No where does it say you have to get a mortgage to buy a house.
In fact, with the massive glut of housing in this country, all of it being financially-backed by Freddie Mac and Fannie Mae, two government sponsored boondoggles meant only to give most-favorite treatment to the banking industry during this massive deflationary-depression-downturn, with that massive glut of housing, anyone who still has the money and interest enough to buy a house -should be able to buy a house -naming their own price.
Most property in the town I live -is not even worth paying for the property tax, -literally!
But go online to these banks that have such a huge backlog of foreclosed housing. Look at their REO lists, if you can find their REO list. And what are they talking about?
They are selling mortgages.
These banks are not selling the real estate they own that is crumbling to dust and mildew in this country.
The banks are selling mortgages, while hiding the real estate they own because it is a huge embarrassment that so much real estate is empty -in the hands of so many corrupt and bailed-out bankers -who have no capacity to maintain or keep vital, such an expansive inventory list of vacant housing.
The banks are sitting back demanding buyers FIRST find a mortgage deal. And then the bank will talk to you about the housing they want to sell you, the housing they own, and the price they want you to pay for it -over the next 30 years of your life -and your wage slavery to the banks.
No.
This new wage slavery is being wholly sponsored by the financial malfeasance of the federal government through Freddie Mac and Fannie Mae.
This is the government's economic plan for recovery of the American economy? Repeatedly throwing trillions in bailout money at the banks -so that the banks in this country can put the next generation of Americans so far behind the financial security eight ball that they have to slave for the next thirty years just to keep a roof over their heads?
Go fuck yourself, TimGeithner, Barack OBama
and Ben Bernanke.
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