Sunday, October 27, 2013 President Bush: I Lied To You In 2007...the Mortgage/Foreclosure/Financial Crisis That Started In 2007 While I Was President Wasn't the "RECKLESS HOMEOWNERS" Fault...It Was The "RECKLESS BANKSTERS" Fault
So the mortgage/foreclosure/financial crisis WASN'T caused by the "RECKLESS HOMEOWNERS" in 2007 after all. Have you been following all these stories of BANKSTERS getting multi-million/billion dollar fines for rigging the housing market back in 2007?
But do you remember President Bush & the media in 2007 blaming the "RECKLESS HOMEOWNERS" for it? Bush & the media said the "RECKLESS HOMEOWNERS" took advantage of the POOR BANKSTERS!!! Remember? If you DON'T remember, let me refresh your memory with 3 posts I made in 2007 about Bush & the media's "RECKLESS HOMEOWNERS" speech & media blitz:
BDBB FLASHBACK: Friday, December 7, 2007 - Bush Lays Into "Reckless Homeowners" Who Took Advantage of Lenders & Investors
BDBB FLASHBACK: Monday, December 31, 2007 - Bush Addresses "Reckless Homeowners"...again...
BDBB FLASHBACK: Monday, December 31, 2007 - Wait A Minute! I Thought Bush Said Americans Losing Their Homes To Foreclosure Were "RECKLESS HOMEOWNERS"!!!!!!!
The mainstream media brainwashes us with BUZZWORDS & PHRASES all the time. They go from buzzword to buzzword, but the buzzwords are never about the BANKSTERS & WAR PROFITEERS. The mainstream media leads us around from "DEATH PANELS" to "GROUND ZERO MOSQUE" to "CHICK FIL A" to "FISCAL CLIFF" to "SEQUESTER" to "DEBT CEILING" etc... Now the buzzword is "OBAMACARE" You can't escape it! In all media - TV, radio, newspapers - try and escape the word "OBAMACARE".
What You Don’t Know About Mortgages
By THE EDITORIAL BOARD: November 29, 2013 >> http://www.nytimes.com/2013/11/30/opinion/what-you-dont-know-about-mortgages.html?hp&rref=opinion&_r=1& <<
by Zelda Gamson
A review of The Taste of Ashes: The Afterlife of Totalitarianism in Eastern Europe, by Marci Shore. Crown, 2013, 384 pages. Published in the Summer, 2013 issue of Jewish Currents.
“It requires certain kinds of energy, certain
capacities for taking the world into our
consciousness, certain real powers of body
and soul to be a match for reality.”
Centering in Pottery, Poetry and the Person, 1964
Marci Shore sought out Czeslaw Milosz, the poet and Nobel laureate, in Krakow after the fall of communism. She was “struck by his laughter, unusually deep. He was an encyclopedia . . . the only one left.” When she asked him about Adam Wazyk, a poet who became a “terroretician” of socialist realism, Milosz refused to condemn him. “We were good friends . . . even in the time of Stalinism, Wazyk sort of winked at me.” What about Antoni Slonimski, who supported the Polish communists after World War II and later wrote a diatribe against Milosz? They, too, were good friends, he said. When Milosz was Poland’s cultural attaché in Washington, DC, Slonimski had told him to “listen to an old Jew” and stay abroad as long as he could. Milosz defected a few years later, and then told himself that Slonimski was attacking him because he “was clearly out of his wits from fear.” When Slonimski later went to Paris, “we became friends again . . . because I forgave him.” >> http://jewishcurrents.org/tag/communism
Home owners are behind on about 5.6 percent of mortgage payments made in 2003 that have hit their 10-year mark, according to Equifax, a figure that could jump to around 6 percent this year.
More than $221 billion of mortgages are set for a rate increase over the next four years, which represents around 40 percent of the total.
Amy Crews Cutts, the chief economist at consumer credit agency Equifax, warned mortgage bankers at a conference last month that an increase on homeowners' monthly payments is an imminent "wave of disaster."
Gerald Celente, publisher of the Trends Journal, spoke about the implications of a scenario where millions of American suddenly find themselves with less disposable income.
“You are going to start seeing a decline again in people paying mortgages, more foreclosures happening,” Celente told RT. “When interest rates go up, this phony recovery we have in the housing market is going to stop and a lot of the new people that got into the market are going to have trouble paying off their mortgages.”
The only reason there is any recovery happening in the United States is that interest rates are at record lows, Celente added.
The fear now is that once interest rates go up, as eventually they will do, this will increase the monthly mortgage rates that many American families are now paying.
The Great Recession of 2008 proved one thing: the overall health of the global economy greatly hinges on the success of American homeowners being able to meet the demands of the banking community, which seems immune to any attempts at reform.
Insight: A new wave of U.S. mortgage trouble threatens
By Peter Rudegeair,>> http://uk.reuters.com/article/2013/11/26/us-usa-mortgages-homeequity-insight-idUKBRE9AP05J20131126 <<,