So, a good summary of the issues. But it ignores the actual elephant in the room. The punishment of (what are essentially) mostly middle class borrowers, predominantly leaning more conservative, for doing all the right things, is a feature and not a flaw. Just a further extension of the weaponization of government against those who don’t support the regime.
Although the issues are different, in the end the punishment is te same. Palestine OH got ignored because of the political tenor of the people who lived here. Middle class borrowers with good credit scores are being punished for similar reasons.
Although you are correct in your assessment, one shred of the article sticks out to me, paraphrasing, "the homeownership levels for minority groups fell to pre-intervention levels after the housing boom and bust." The goal was the swindle of the bipoc and poor.
The real goal is the Great Reset. What they did before hurt their voters but did not hurt their vote count, nor stop rich white gentrified liberals from donating. If Jamie Dimon (pronounce it in Spanish lingo just for fun, it sounds a bit worse than slurred Diamond) is going to own all the bank liabilities eventually, and a CBDC is to be implemented, then destroy the currency and the value of everyone's home (in dollars anyway, what every commoner holds), they need to sucker everyone in to a terrible mortgage that the government can "rescue" them from. "We're here from the government and we're here to help you out of that terrible burden of ownership."
Anyway. Lastly, what's going to happen with the "good borrower?" Well, they won't buy anything anymore, since they are retiring, or are white collar and can work remotely. They'll keep their sustainable (for now) mortgage, and yet again even fewer homes go on the market, continuing the artificial propping up of home values. So then these people can then continue to HELOC their way into buying rentals, or fancier cars, or boats, or private school. Basically all the trappings that keep the rich rich and the poor poor.
Sure the middle class is affected, but the middle class was destroyed meaningfully years ago. Now it's just "protect the rich, by using the poor." Anything that happens to the middle class is merely an unintended consequence.
Agree in full. I’d make one change to your final line. I’d argue that whatever happens to what remains of the ‘middle class’ is an intended consequence. A feature and not a flaw of the policy.
The left's policies are targeted to appeal to the poor - something for nothing. That get's them the votes and they stay in power. The fact that their policies end up making more people poor adds to their base.
Also, keep an eye on interest rates and the decay of Blackrock asset base as a result of high rates. If rates stay high, Blackrock seems headed to bankruptcy. If that happens trillions in pension money will be lost. If that happens, pension money may be nationalized and redistributed. This is my big concern on the horizon. Erosion of pension plans that leads to a cry for redistribution of pension wealth.
It would seem at this point that the government has been incentivized to create crises so that, in its response, it can justify its existence and increase its power.
You are so right. Someone famous once stated something along the lines that the purpose of government was to find ways to cause the people to be more and more dependent upon government.
Our government has become a collective of psychopaths that seeks to control the most intricate details of everyone's lives. To do this, individual freedoms and individual rights must be destroyed for the good of the collective.
Fear is the biggest tool for these psyops. Get everyone afraid of something, and prop up the government to be the solution.
I don't understand the problem with DeSantis. He has fought everything that conservatives stand against (and yes, that includes groomer corporations like Disney). He has gotten huge policy initiatives in Florida done. Actual things that help people and markets, like insurance reform. He opposed the Covid Leviathan, when everyone else said he was crazy. That's leadership, not a squish.
He's a fighter like Trump, but he actually understands how to make policy and get things done.
We will not win the game against the Left by sticking to the old squish GOP principles of worshiping corporations and "keeping government out of it."
This is war, and we need a person who will use every lever in government to achieve our objectives.
The landscape has changed, and if conservatives don't or won't see it, then we will continue to lose and cede ground to the Left, who is all too willing to use every ounce of government power against us. This is not about "muh taxes" anymore, it's about our children, fundamental fairness and the last vestiges of our way of life. The Left hates us, and they will not compromise.
He is an idiot, and his lapdogs in the legislative as well. Sending illegals to MV on my tab, fighting free speech of corporations (yes my friend they have 1A rights, tho you may disagree), pissing away hundreds of thousands of our dollars fighting $DIS for what? To scare “woke” corporations from Florida?
ignoring the insurance crisis where Floridians can’t get casualty insurance, 6 week abortion ban, fighting the new red meat issue us trans people as if that’s the most important thing in the world. Not saying Gillum would have been better, (Adam Putnam or Gwen Graham would) but he’s so full of himself that he needs a window put in his stomach so she can see
Vote for whomever you choose..........it's not going to change anything.......and only fools think it would.
People would consider Chump and Biden political opposites, right? So how did we go from Chump to Biden? What did Chump do that was so meaningful, that Biden took his place as if he was never even there?
My point being, no matter what "loser" sits in the WH, it's no going to change the policy direction of the country. Elected officials are powerless whores. The power in this country controls the money. .......and controls any elected officials.
This is what the regime is doing.. destroy america and punish those with good credit. And Hunter did nothing wrong, there is no crisis on the border, you need to continue to get the jab boosters, and the economy is GREAT!
Excellent commentary. This is wrong on so many levels. Classic Marxists wealth redistribution. Will the amounts of the subsidies financially stronger borrowers are forced to give to borrowers with weaker financials grow over time? Nothing this lawless regime does surprises me. It seems like there should be an angle for a successful legal challenge to these penalties. Time will tell.
The only flaw in the above is in seeing actions both now and in 2008, as “flawed.” In fact, these were successes for a left needing minority voters to continue to be dependent on an ever-larger government. Destroying credit ratings of minorities via “liar loans,” etc., was - and remains - a feature, not a bug, for Ds.
We need to stop measuring the actions of the left with the metrics of free, adult people.
I didn’t realize this is already in effect as of May 1. I thought it was something they were proposing.
This is nothing more than another part of “The Great Reparations Act” (GRA). Once one of these loan’s goes bad, Uncle Sam will forgive the debt. Redistribution made simple. They don’t care if it effects “the economy”.
As to the bank that made the loan they are already receiving these monies from US, so money in money out. We are to big to fail.
It might be a good idea to start a bank that just makes these bad loans. I can pay myself millions and when my bank fails US will take me over and tell the people what a bad manager I was. I will not care because I made millions.
So, a good summary of the issues. But it ignores the actual elephant in the room. The punishment of (what are essentially) mostly middle class borrowers, predominantly leaning more conservative, for doing all the right things, is a feature and not a flaw. Just a further extension of the weaponization of government against those who don’t support the regime.
Although the issues are different, in the end the punishment is te same. Palestine OH got ignored because of the political tenor of the people who lived here. Middle class borrowers with good credit scores are being punished for similar reasons.
Although you are correct in your assessment, one shred of the article sticks out to me, paraphrasing, "the homeownership levels for minority groups fell to pre-intervention levels after the housing boom and bust." The goal was the swindle of the bipoc and poor.
The real goal is the Great Reset. What they did before hurt their voters but did not hurt their vote count, nor stop rich white gentrified liberals from donating. If Jamie Dimon (pronounce it in Spanish lingo just for fun, it sounds a bit worse than slurred Diamond) is going to own all the bank liabilities eventually, and a CBDC is to be implemented, then destroy the currency and the value of everyone's home (in dollars anyway, what every commoner holds), they need to sucker everyone in to a terrible mortgage that the government can "rescue" them from. "We're here from the government and we're here to help you out of that terrible burden of ownership."
Anyway. Lastly, what's going to happen with the "good borrower?" Well, they won't buy anything anymore, since they are retiring, or are white collar and can work remotely. They'll keep their sustainable (for now) mortgage, and yet again even fewer homes go on the market, continuing the artificial propping up of home values. So then these people can then continue to HELOC their way into buying rentals, or fancier cars, or boats, or private school. Basically all the trappings that keep the rich rich and the poor poor.
Sure the middle class is affected, but the middle class was destroyed meaningfully years ago. Now it's just "protect the rich, by using the poor." Anything that happens to the middle class is merely an unintended consequence.
Agree in full. I’d make one change to your final line. I’d argue that whatever happens to what remains of the ‘middle class’ is an intended consequence. A feature and not a flaw of the policy.
The left's policies are targeted to appeal to the poor - something for nothing. That get's them the votes and they stay in power. The fact that their policies end up making more people poor adds to their base.
EXACTLY. Totally INTENDED. And in the words of Baretta “That’s the name of that tune”!
Your analysis seems spot on.
Also, keep an eye on interest rates and the decay of Blackrock asset base as a result of high rates. If rates stay high, Blackrock seems headed to bankruptcy. If that happens trillions in pension money will be lost. If that happens, pension money may be nationalized and redistributed. This is my big concern on the horizon. Erosion of pension plans that leads to a cry for redistribution of pension wealth.
It would seem at this point that the government has been incentivized to create crises so that, in its response, it can justify its existence and increase its power.
You are so right. Someone famous once stated something along the lines that the purpose of government was to find ways to cause the people to be more and more dependent upon government.
Our government has become a collective of psychopaths that seeks to control the most intricate details of everyone's lives. To do this, individual freedoms and individual rights must be destroyed for the good of the collective.
Fear is the biggest tool for these psyops. Get everyone afraid of something, and prop up the government to be the solution.
Superb article !
Now ... the Republicans need to put forth a viable Presidential candidate for 2024 to NOT include either of the following two losers:
• Donald J Trump
• Ronald DeSantis
Thank you ver much.
I don't understand the problem with DeSantis. He has fought everything that conservatives stand against (and yes, that includes groomer corporations like Disney). He has gotten huge policy initiatives in Florida done. Actual things that help people and markets, like insurance reform. He opposed the Covid Leviathan, when everyone else said he was crazy. That's leadership, not a squish.
He's a fighter like Trump, but he actually understands how to make policy and get things done.
We will not win the game against the Left by sticking to the old squish GOP principles of worshiping corporations and "keeping government out of it."
This is war, and we need a person who will use every lever in government to achieve our objectives.
The landscape has changed, and if conservatives don't or won't see it, then we will continue to lose and cede ground to the Left, who is all too willing to use every ounce of government power against us. This is not about "muh taxes" anymore, it's about our children, fundamental fairness and the last vestiges of our way of life. The Left hates us, and they will not compromise.
Fight fire with fire -- there is no other choice.
He is an idiot, and his lapdogs in the legislative as well. Sending illegals to MV on my tab, fighting free speech of corporations (yes my friend they have 1A rights, tho you may disagree), pissing away hundreds of thousands of our dollars fighting $DIS for what? To scare “woke” corporations from Florida?
ignoring the insurance crisis where Floridians can’t get casualty insurance, 6 week abortion ban, fighting the new red meat issue us trans people as if that’s the most important thing in the world. Not saying Gillum would have been better, (Adam Putnam or Gwen Graham would) but he’s so full of himself that he needs a window put in his stomach so she can see
Actually Ron has done everything we elected him to do here in Florida and want him to continue instead of running for POTUS.
How’s your insurance renewal coming, Kent?
Vote for whomever you choose..........it's not going to change anything.......and only fools think it would.
People would consider Chump and Biden political opposites, right? So how did we go from Chump to Biden? What did Chump do that was so meaningful, that Biden took his place as if he was never even there?
My point being, no matter what "loser" sits in the WH, it's no going to change the policy direction of the country. Elected officials are powerless whores. The power in this country controls the money. .......and controls any elected officials.
There's only one party.
The only one I like is Byron Donalds from Florida.
However 99% of all politicians are not very intelligent and are corrupt.
The Trump concept worked - take someone from the real world and make good foreign policies and the country was running smoothly until Covid.
What's your beef with Ronaldus Deux?
I wouldn't call this industrial policy. It is financial policy attempting to juice the housing market when it is going towards a downturn.
This is what the regime is doing.. destroy america and punish those with good credit. And Hunter did nothing wrong, there is no crisis on the border, you need to continue to get the jab boosters, and the economy is GREAT!
“The LLPA is a no-win program”, that’s the whole point.
Excellent commentary. This is wrong on so many levels. Classic Marxists wealth redistribution. Will the amounts of the subsidies financially stronger borrowers are forced to give to borrowers with weaker financials grow over time? Nothing this lawless regime does surprises me. It seems like there should be an angle for a successful legal challenge to these penalties. Time will tell.
“Such imprudence leads to bank failures and dismal career prospects for sloppy bank managers.”
…and potentially opens up the door for the entrance of a digital currency. Moving to less and less banks.
The only flaw in the above is in seeing actions both now and in 2008, as “flawed.” In fact, these were successes for a left needing minority voters to continue to be dependent on an ever-larger government. Destroying credit ratings of minorities via “liar loans,” etc., was - and remains - a feature, not a bug, for Ds.
We need to stop measuring the actions of the left with the metrics of free, adult people.
Oh Joy, MERS part deux. Rudy went to the memory hole and produced this recap of the Fuckery that went largely unpunished, except where we went after the foreclosure mills for not having standing. https://open.substack.com/pub/rudy/p/mers?r=fnjl&utm_medium=ios&utm_campaign=post
Show me the math and source of the formulation supporting your claim of more than a minor adjustment.
I didn’t realize this is already in effect as of May 1. I thought it was something they were proposing.
This is nothing more than another part of “The Great Reparations Act” (GRA). Once one of these loan’s goes bad, Uncle Sam will forgive the debt. Redistribution made simple. They don’t care if it effects “the economy”.
As to the bank that made the loan they are already receiving these monies from US, so money in money out. We are to big to fail.
It might be a good idea to start a bank that just makes these bad loans. I can pay myself millions and when my bank fails US will take me over and tell the people what a bad manager I was. I will not care because I made millions.
Oh, I forgot I am not the right skin color.
What a great country we live in.
Yawn. A minor adjustment. Trying to make a mountain out of a mole hill. Nothing to see here!
It affects me personally. Will you volunteer to pay the “minor” adjustment for me?
You forgot the sarc tag/ No?