25% OF U.S. CHILDREN UNDER POVERTY LEVEL — HIGHEST SINCE GREAT DEPRESSION

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM

HOMELESS CHILDREN OF THE ECONOMIC HOLOCAUST

EDITORIAL COMMENT: Like I said, we better be damned sure this is unavoidable. From my perspective and the perspective of economists with far greater credentials than my own, it is not only avoidable, it is both immoral and impractical with long-lasting effects on a once-vibrant society. An increase of 2 million children going to bed hungry, living in cars, motels and contrived shelters, all for the sake of maintaining a false balance sheet for megabanks and allowing and promoting foreclosures on homes using illegal fraudulent means to benefit intermediaries that never loaned a dime nor purchased a mortgage. Are we really going to allow this?

SEE DEMOCRATIC UNDERGROUND.COM

Unemployment improved a bit last month but it is still nearly nine percent and the trouble is job creation is so slow, it will be years before we get back the seven and a half million jobs lost in the Great Recession. American families have been falling out of the middle class in record numbers. The combination of lost jobs and millions of foreclosures means a lot of folks are homeless and hungry for the first time in their lives.

One of the consequences of the recession that you don’t hear a lot about is the record number of children descending into poverty.

The government considers a family of four to be impoverished if they take in less than $22,000 a year. Based on that standard, and government projections of unemployment, it is estimated the poverty rate for kids in this country will soon hit 25 percent. Those children would be the largest American generation to be raised in hard times since the Great Depression.

In Seminole County, near Orlando, Fla., so many kids have lost their homes that school busses now stop at dozens of cheap motels where families crowd into rooms, living week to week.

http://www.cbsnews.com/stories/2011/03/06/60minutes/mai… ;cbsCarousel

Helluva sobering report last night on 60 Minutes – this should shame the country but we know it won’t!

Tags: borrower, CHILDREN UNDER POVERTY LEVEL, DEMOCRATIC UNDERGROUND.COM, disclosure, ECONOMIC HOLOCAUST, foreclosure defense, foreclosure offense, fraud, HOMELESS CHILDREN, Lender Liability, mortgage meltdown, predatory lending, rescission
Posted in bubble, Corruption, Eviction, securities fraud |