Once again Treasury Secretary Paulson has announced another knuckle-headed scheme that benefits everyone but the responsible trying to keep their homes. The plan will allow for mortgages on home purchases of just 4.5%. The plan, however, is designed to move foreclosures to help predatory lenders holding homes forcefully vacated.
If you were laid off from your job, had your hours / wages / benefits cut or got suckered by “creative financing” buried in ten pages of fine print and can’t make your house payment well then it sucks to be you. You’ll still be made homeless and some vulture will scoop up what was once your home for far, far less than you paid, get basement interest rates, rent it out to someone for a payment twice what your mortgage may have been and make out like a bandit with a federal license to steal. You, however, will pay more for less of a place to live with the renter’s Sword of Damocles dangling over your head balancing food and shelter costs.
Every hair-brained plan coming from the Bush Administration while in its death throws is designed to help those who need help the least while creating a new group of homeless, working poor or unemployed as the vultures feed on the carcasses of American workers and their dreams.
$350B went to the top one percent to “stimulate” the economy through the cruel, vicious joke called trickle down economics. The top 1% hoard our tax money, pay themselves as well as their pals for destroying the economy and continue to party on as Rome burns eagerly awaiting the other $350B promised them. Meanwhile we struggle to survive at the bottom of a vacuum that sucks every cent of wealth to the top.
That total $700B translates into $30,000 for 232-million tax-paying families who, if given the money, would pay their mortgages, debts and consume moving the money upward in an economy that defies the laws of gravity.
So let me pose this simple question under the Bush Economic Plan: What if all of us, who are responsible, working people, were to simply stop making mortgage payments? What recourse would these greedy, wealthy, bottom-feeding scum have? They would have absolutely NONE. How could they possibly foreclose on every home in the nation? They couldn’t collect and they’d be compelled to negotiate or lose everything. And what if we stopped paying our credit cards at predatory interest rates that continue to increase? This, too, would force renegotiation.The only way that we can survive is to force concessions. If every home mortgage were reset to its current deflated market value and the interest reset at 4.5% foreclosures would come to an abrupt halt. If credit cards were locked-in a 9% people could make their payments. Add in $30,000 per tax-paying family and the economy would have the momentum required to start moving and growing again.There’s greed and there’s profit. Greed is what's killing us but profit, fair, reasonable profit, can rescue this nation's economy. We don’t need weapons to effect a revolution – we simply need to refuse to pay usury rates on that which no longer has value thanks to artificial manipulation by those who've been motivated by unbridled greed with a nod, nudge and wink by the Bush Administration and its party.
It’s time for the ultra wealthy at the helms of corporations whom have fed on the average American to lower THEIR expectations as I seriously doubt any CEO will be eating Alpo under a bridge in a winter storm should their business fail. We, however, will continue to fall into destitution, hunger and homelessness if we don't tell them "no damned more" by not giving them another cent of OUR money until they capitulate.
21-50. Out.
Thursday, December 04, 2008
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