Best of the Week
Most Popular
1.Gold Price Target of USD 2,300 - GoldCore
2.Greece Banking System Collapse Monday as ECB Pulls the Plug, Capital Controls Ahead of GrExit - Nadeem_Walayat
3.Why British Muslims Are Leaving Elysium Paradise for Syrian Hell - Nadeem_Walayat
4.Greece BANKRUPT! Financial and Economic Collapse to Follow IMF Debt Default - Nadeem_Walayat
5.Extreme Gold/Silver Shorting - Zeal_LLC
6.European Empire Strikes Back Against Greek Debt Fantasy, Counting Down to GREXIT - Nadeem_Walayat
7.Gold And Silver – Three Choices: Sell, Hold, Hold and Add. A Trading Treatise - Michael_Noonan
8.Gold and Silver Price Headed for Breakdown - Jordan_Roy_Byrne
9.Greece Crisis OXI - Raul_I_Meijer
10.Flatline Investing and Dead End Debt Schemes - Doug_Wakefield
Last 5 days
Forget Drachmas Greece Syriza Government Could Instruct Central Bank to Print Euros! - 2nd July 15
Greece Debt Crisis Trigger for Stock Market Crash or Bull Rally? Video - 1st July 15
Gold Stocks Break Below 2008 Low - 1st July 15
SPX Stock Market Retracement May be Over - 1st July 15
Silver Tunnel Vision 'Experts' - 1st July 15
Gold And Silver - Monthly, Quarterly Ending Analysis - 1st July 15
Europe’s Controlled Demolition - 1st July 15
The End of Dow 18,000; Bailouts No Longer Extended  - 1st July 15
Athens Mayor: Greek Government Should Resign - 1st July 15
China Stocks - This Is What a Bubble Looks Like - 30th June 15
Stocks Plunge on Greece Euro-Zone Financial Armageddon Blackmail - 30th June 15
Greece Crisis Shows Importance of Gold as Europeans Buy Coins and Bars - 30th June 15
Stock Investors Express Route to Profits in the Healthcare Sector - 30th June 15
Beyond the Greek Impasse - 30th June 15
Gold GDXJ : Impulse Move Pending - 30th June 15
Fed Interest Rate Increase Could Be Best Thing to Happen to Gold - 30th June 15
Marc Faber - Greece is Basically Bankrupt - 30th June 15
Greece - Shoot the Dog and Sell the Farm - 29th June 15
Grexit?, BIS Warning, Chinese Market Crash & Systemic Risk Shake the Global Economy - 29th June 15
The New "Sharing Economy" May Not Be the Profit Bonanza Everyone's Expecting - 29th June 15
Gold and Silver Greece and Short Positions - 29th June 15
Volatility and Sleep-Walking Markets - 29th June 15
Greece BANKRUPT! Financial and Economic Collapse to Follow IMF Debt Default - 29th June 15
Stock Market More Decline Ahead? - 29th June 15
China Stock Market Crackup - The Final Trap Looms... - 29th June 15
Greece Banking System Collapse Monday as ECB Pulls the Plug, Capital Controls Ahead of GrExit - 28th June 15
Investor Stock Play for Two Growing Missile Threats - 28th June 15
Stock Market Uptrend/downtrend Inflection Point - 27th June 15
Greece Crisis OXI - 27th June 15
Gold And Silver – Three Choices: Sell, Hold, Hold and Add. A Trading Treatise - 27th June 15
It’s Time to Change the Way You Look at Disney Forever - 27th June 15
Flatline Investing and Dead End Debt Schemes - 27th June 15
Stock Market Investors Avoid the "Herd" Like the Plague - 26th June 15
Extreme Gold/Silver Shorting - 26th June 15
USD Daily, Weekly, Monthly & Conclusions - 26th June 15
Gold Price Target of USD 2,300 - 26th June 15
Gold and Silver - Another Successful Option Expiration For the Insiders - 26th June 15
Why Buffett Bet A Billion On Solar Energy - 26th June 15

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

China Stocks - Where are they going?

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

© 2005-2015 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

Biggest Debt Bomb in History