BE PART OF THE SOLUTION INSTEAD OF THE SPIN

Once again, we find that jobless claims “exceeded” expectations. Whose expectation? The only people publicly expecting and privately using these expectations are campaign managers. With the housing, the nation’s largest asset, in a continual nosedive for four years, higher jobless claims and lower economic figures are inevitable.

The expectation game is played by economists and politicians, Wall Street brokers who want to churn more stock and bond transactions, and of course the media, which wants to create the appearance of an up and down suspense so you keep reading and watching.

Here’s the truth: Joblessness has still not hit bottom but the rate at which it is worsening is better than at the time of the crash. The economy is also continuing to get worse, with lower personal income, far less credit for people and businesses, and savings struggling. There just isn’t any money to buy anything, which means no revenue, no profits, no jobs, and no tax revenue. $7 trillion was directly removed from our economy by Wall Street plus, I would estimate, another $20 trillion in indirect consequences that will be felt for decades.

There is a way out of this. TELL THE TRUTH. AND starting acting on the Truth. Allowing the housing market to turn into a foreclosure free-for-all was an error of both BUSH and OBAMA administrations. Neither one realized the relationship between foreclosures and the prospects for the U.S. economy and their own political prospects.

If the foreclosures are REAL because the mortgages are REAL and the LIEN IS PERFECTED, and the obligation is UNPAID, and the NOTE describes the obligation and the MORTGAGE SECURES THE NOTE AND OBLIGATION and the REAL CREDITOR is following the law, then the foreclosures should proceed. If not, the foreclosures should not proceed. If the obligation has been extinguished then that is where the chips fee. And for a change the common man will get the collateral benefit from Wall Street antics.

Regardless of your politics, you must admit that as long as these foreclosures continue, the outlook is worse than bleak for all economic indicators, social unrest and potential military conflict. Under a nation of laws the chips fall wherever they fall and the consequences must be absorbed. Under anation governed by men instead of laws, anything goes, creating uncretainty, the worst condition for any market or economy.

So if the homeowners are in fact deadbeats whose eyes were too big for the stomach then by all means let the foreclosures continue. And if Wall Street created a grand illusion of loan closings, securitizations, and foreclosures, then let the the illusion be dropped.

With the illusion dropped, the $7 trillion reappears and the economy takes off. So there is motivation to take a close look at the lawfulness of the mortgages and the securitizations and the foreclosures. Our title crisis, market crisis and economy depend upon it.

Posted in Uncategorized |