Best of the Week
Most Popular
1.BrExit House Prices Crash, Flat or Rally? UK Housing Market Affordability Crisis - Nadeem_Walayat
2.Stocks Bull Market Climbs Wall of Worry, Bubble? When Will it End? - Nadeem_Walayat
3.Gold Price Is Now On Its Way To All-Time Highs - Hubert_Moolman
4.Deutche Bank Stock Price Crash - The EU Has Problems Far Beyond the Brexit - Harry_Dent
5.UK interest Rate PANIC CUT! As Banks Prepare to Steal Customer Deposits - Nadeem_Walayat
6.Gold and Silver Bull Phase 1 : Final Impulse Dead Ahead - Plunger
7.Central Bankers Fighting An Unprecedented Global Economic Slowdown - Gordon_T_Long
8.Putin Hacking Hillary for Trump, Russia's Manchurian Candidate? - Nadeem_Walayat
9.Stock Market Insiders Are Secretly Selling, Cycle Top Next Month - Chris_Vermeulen
10.Gold Sector - Is it time to Back up the Truck? – Mortgage the Farm? - Peter_Degraaf
Free Silver
Last 7 days
Merkel Prepares For a Deliberate Crisis While White House Plans For a Disastrous Succession - 24th Aug 16
Suspicious Reversal in Gold Price - 23rd Aug 16
If Trump Can’t Pull Off a Victory, Expect a Civil War - 23rd Aug 16
Ceding ICANN and Internet Control to Globalists - 23rd Aug 16
How to Spot an Oversold Stock Market - 23rd Aug 16
Gerald Celente Sees Worst Market Crash, New Military Conflict, Gold Spike to $2,000/oz - 23rd Aug 16
EU Olympics Medals Table Propaganda Includes BrExit Britain - 22nd Aug 16
BrExit Win's Britain Olympics Success Freedom Dividend, Economy Next - 22nd Aug 16
Stock Market Top Forming, but Slowly - 22nd Aug 16
(Really) Alternative Banking Systems - 22nd Aug 16
Vauxhall Zafira Fires - Second Recall Issued - Inspection Before Bursting into Flames? - 21st Aug 16
Will the Stock Market Bubble Pop Regardless if the FED Never Raises Rates? - 21st Aug 16
US Government Spending - 3 Big Stories Not Being Covered – Part III - 21st Aug 16
Silver Analysis - 20th Aug 16
SPX New Highs, Correction Next? - 20th Aug 16
Housing Bubble - The Marginal Buyer Holds The Pin That Pops Every Asset Bubble - 20th Aug 16
Gold Miners Q2 2016 Fundamentals - 19th Aug 16
Which Price Ratio Matters Most in a Fiat Ponzi? - 19th Aug 16
Big Policies, Bigger Failures - 19th Aug 16
Higher Crude Oil’s Prices and USD/CAD - 19th Aug 16
Here’s Why You Should Look for Dividend Stocks and How - 19th Aug 16
Deglobalization Already Underway — 4 Technologies That Will Speed It Up - 19th Aug 16
These 6 Charts Show Why the Average American Is Fed Up - 18th Aug 16
SPX Easing Lower - 18th Aug 16
Low / Negative Interst Rate’s Legacy - 18th Aug 16
The 45th Anniversary of The Most Destructive Event In Modern Monetary History - 18th Aug 16
USDU - An Important Perspective on the US Dollar - 17th Aug 16
SPX Completes Wave 1 Decline - 17th Aug 16
How to Quickly Spot Common Fibonacci Ratios on a Chart - 17th Aug 16
When Does a Forecast Become a Trade? - 17th Aug 16
Kondratiev Wave - The Financial Winter Is Nearing! - 17th Aug 16
Learn "The 4 Best Elliott Waves to Trade -- and How to Trade Them" - 16th Aug 16
Stock Market Bears Turning Bullish At New All Time Highs - Time to Get Worried? - 15th Aug 16
Job Seekers Sacrificed to the Inflation Gods - 15th Aug 16
A Look At Commodities and Financial Markets Trading Week Ahead - 15th Aug 16
Stock Market New Top Forming? - 15th Aug 16

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

How to Trade Elliott Waves

The Great U.S. Housing Market Foreclosure Robbery Of The 21st Century

Housing-Market / US Housing Nov 05, 2009 - 02:07 PM GMT

By: Robert_Singer

Housing-Market

Best Financial Markets Analysis ArticleThe Center for Responsible Lending estimates that there have now been 1,000,000 foreclosures filed so far in 2009 and the group expects the foreclosure number to double before the end of the year.

U.S. Home Vacancies Hit 18.7 Million on Bank Seizures (Update2) [1]


Thanks to our controlled and uncontrolled media, we know when you take the derivative of the foreclosure crisis you get those greedy predatory lenders at AIG, Goldman Sachs and Bank of America plotting to steal our tacky (I mean tract-y) houses.

Conventional wisdumb and the media always blame the usual suspects and FOX News wraps it up: "It's the age-old Wall Street vs. Main Street smackdown again"

Is this foreclosure for profit?

Michael DisInformation Moore thinks so.

Florida’s up and coming real estate “whiz”, Condo Vulture Peter Zalewski is featured prominently in his latest fake, muckraking film, “Capitalism, A Love Story.”

Moore explains that Zalewski specializes in foreclosed homes that his clients buy and later sell at a profit.

But in June, with 18,700,000 empty houses, Zalewski and all the other vultures found only 32,000 bottom feeders to buy them.

“Mortgage Modification could avert the crisis but then why are…Mortgage Modifications Still Uncommon Despite Huge Losses From Liquidation Sales”? [2]

“In June, the total loss from the write-downs on 3,135 loans was just $45 million. But the losses incurred in foreclosures because the industry refuses to modify the loans in the same period were a staggering $4.59 billion.” [3]

"There is 100 times as much money lost in foreclosure sales as there was in writing down balances in modifications." said Alan M. White, an assistant professor at the Valparaiso University law school in Indiana who analyzed data on 3.5 million mortgages held by some of the nation's largest loan services companies, such as Bank of America, Chase Home Finance, Litton Loan Servicing, and Wells Fargo -- the companies responsible for putting these mortgages into large securitization pools.

White’s take on the foreclosure crisis: "That is not rational economic behavior."

Given losses like these, White said he was “perplexed that lenders and their representatives were resisting reducing principal when they modify loans.”

His data shows how rare it is for lenders to reduce principal.

The foreclosure paradox: Foreclosures breed foreclosures. Cutting you a deal to keep you in your home is a win-win-win, the lender would keep getting payments, the housing market and the economy might begin to recover.

The American Dream, an environmental nightmare, fueled our consumer society. The American Nightmare, an environmental dream, is fueling the foreclosure crisis.

October 2008, to anyone not in denial, marked the last day the men behind the Federal Reserve, all connected to the House of Rothschild will create money out of thin air so the middle class can “trash the planet” with houses, second houses, cars, RVs, TVs and DVDs. [4]

So who is directing the mortgage industry to foreclose on houses they don’t want, can’t sell, and in the process are adding huge losses to their bottom line?

“Brian Deese, special assistant to president Obama for economic policy shuffles back and forth from the West Wing to the Treasury Department dismantling the US Home and Auto Industry and rewriting the rules of American “capitalism”. [5]

Why?

Full Foreclosures and Full Un-Employment is on track to happen before 2012.

"Capitalism, No Love Story" a Call for Revolution

Should we trust Michael Moore to tell us who our enemy is?

The truth about Michael Moore was at www.moorelies.com but someone took it down.

No problem, as of today you can still get the book: Michael Moore Is a Big Fat Stupid White Man.

Michael “white tennis shoe” Moore has seen the enemy and it is Wall Street and Goldman Sachs.

Bob and Harvey Weinstein produced the Love Story with a $1 billion fund from you guessed it….Goldman Sachs. [6]

The purpose of the movie is no secret. Moore lays it out in terms even a child can understand: “grab your torches and pitchforks... and rise up or else—“he's (Michael) done making movies.”

If you find his films incoherent and disjointed you’re not alone. Michael makes films according to “The Parallax View.” Joe Frady (Warren Beatty) in the 1974 is subjected to a film that conflates positive images with negative actions in order to brainwash him into becoming an assassin.

We are being conditioned, brainwashed and manipulated to rise up against The Powers That Be (TPTB).

Michael Moore is fomenting a middle class revolution. Or at least acts of violence.

Is it possible TPTB want a revolution against…themselves?

Yes, it would give them an excuse for …Martial Law.

----------

Robert Singer is an Entrepreneur and the author of a forthcoming book on the Federal Reserve. His articles cover politics and the financial and environmental implications of our consumer society. The articles have been main headlined and can be found on numerous popular websites: Marketoracle, Silverseek, Goldseek, disinformation.com, Daylife, LAprogressive, Canadafreepress, Opednews, Daily.pk and many of the Wordpress sites. Richard Daughty, The Mogambo Guru, proclaimed him a Junior Mogambo Ranger (JMR).

Footnotes:

[1] U.S. Home Vacancies Hit 18.7 Million on Bank Seizures (Update2), Bloomberg.com, Kathleen M. Howley

[2] Mortgage Modifications Still Uncommon Despite Huge Losses From Liquidation Sales, The Huffingtonpost

[3] So Many Foreclosures, So Little Logic, July 4, 2009, The New York Times

[4] “We don’t want your tired, poor, huddled masses yearning to trash the planet” The Federal Reserve, 2009, Robert Singer

[5] The 31-Year-Old in Charge of Dismantling G.M., David E. Sanger, The New York Times: May 31, 2009

[6] How Goldman Backed Moore's 'Capitalism' Movie, www.futureofcapitalism.com/2009/09/how-goldman-backed-moores-capitalism-movie

By Robert Singer

Robert Singer is an Entrepreneur and the author of a forthcoming book on the Federal Reserve. His articles cover politics and the financial and environmental implications of our consumer society.  The articles have been main headlined and can be found on numerous popular websites: Marketoracle, Silverseek, Goldseek, Daylife, LAprogressive, Canadafreepress, Opednews, Daily.pk and many of the Wordpress sites. Richard Daughty, The Mogambo Guru, proclaimed him a Junior Mogambo Ranger (JMR)

Dem Bones is Connected To De Debt Bone by Robert Singer, an analysis of the Federal Reserve, can be found on numerous popular websites including G. Edward Griffin’s Unfiltered News. Edward Griffin is the author of,the definitive work on the Federal Reserve, The Creature from Jekyll Island.

Meat, Milk and Motors: The New China Syndrome by Robert Singer, an essay about China first released in February 2009 has been widely posted and read on the Internet. Quotes from the article can be found in The Wall Street Journal Digital Network and the essay was the Top World Story on the Pakistan Daily website for over a week.

© 2009 Copyright Robert Singer - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Robert Singer Archive

© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife