Mortgages

The Wealthy And Corporations Love Trump, Most Pro Business Since Calvin Coolidge, But The Great Depression Came After Coolidge!

The stock market has surged since the election of Donald Trump, and has hit the 20,000 mark and now the 21,000 mark, a 15 percent increase.

And why not? This nation, and its clueless masses, worship wealth and opulence over principle and ethics, sorry to say!

The wealthy elite and the corporations love what Donald Trump represents—massive tax cuts for the top one percent promised, and the end of most regulations of corporations in all fields of the economy.

This is already the most conservative President, just in pledges and promises, that we have seen since Calvin Coolidge nearly a century ago.

Even Ronald Reagan was not able to do so much so quickly, or pledge to do, as Donald Trump has been pledging to the elite wealthy.

Meanwhile, for the average American, and the blue collar whites who voted for Trump, they are not yet aware of the scam being perpetrated, as they lose their health care, their protection from environmental calamity, and their social safety net that they receive in greater numbers than minorities often have.

No longer can they get a lower interest rate on mortgages, or a greater overtime pay at work, or protection from being victimized by those who advise them on retirement investments.

Public schools will be harmed; gays and transgender people will be discriminated against in an open fashion; civil rights violations will not be investigated; and civil liberties of all of us will be undermined by a lawless, corrupt administration which is taking advantage of gullible citizens who thought a narcissistic billionaire, who has always treated his workers, contractors, and tenants with disdain throughout his life, could be trusted.

While the wealthy and corporations celebrate Trump, expect that we will have the same result we had under Calvin Coolidge and Herbert Hoover–the coming of the Great Depression; and the same results we had under George W. Bush, the Great Recession.

Remember also we had great economic recessions under Dwight D. Eisenhower in the 1950s; under Richard Nixon and Gerald Ford in the 1970s; and under Ronald Reagan and George H. W. Bush in the 1980s and 1990s.

The way we get out of economic depressions and recessions is to elect Democrats—Franklin D. Roosevelt, John F. Kennedy. Lyndon B. Johnson, Bill Clinton, and Barack Obama, with FDR and Obama being the most crucial Presidents in taking us out of the two greatest economic downturns of the past hundred years–1929 and 2008!

The Housing Crisis In America: Not Just Mortgages, But Rents!

A lot has been heard and published about the mortgage crisis faced by millions of American homeowners, many of whom are being manipulated and deceived by the banks that hold their mortgages, when the homeowners are in trouble but are promised assistance that does not occur.

What has not been so recognized is the crisis that millions of renters also face. About one out of four renters, over 10 millions, are now paying half their pre -tax household income on rent and utilities, the highest percentage in a half century!

Rents are rising rapidly due to homeowners who have lost their homes, and to young people attempting to leave the nest of their parents, although many are actually returning home after being away at college for four or more years.

So housing rises to the top of the list of major problems, and this is not including those who are becoming homeless!

And in the midst of all this, what are the Republicans doing in Congress to deal with this crisis, as well as unemployment? NOTHING, as they would rather spend time talking about cutting Medicare, and their party prefers to dwell on the theory that Barack Obama was not born in the United States, as if that creates jobs or housing for the millions who are suffering in this nation!

How The Wealthy Stay Wealthy: Default On Mortgages Without Guilt! :(

The news has emerged that wealthy people are defaulting on their mortgages at a faster rate than average Americans, proving that the condemnation of people for taking on mortgages they can ill afford has been improperly exaggerated!

Conservatives love to blame poor people and middle class people for irresponsibility, when the indications are that it is rich people who are exploiting the system of mortgages, and greatly contributing to the rapidly growing housing market crisis!

More than one in seven home owners with a mortgage over one million dollars has defaulted, while the rate for those with lower mortgages is one out of twelve!

These wealthy people are ruthless, and have no conscience, as the burden on the economy can be borne by the average person, in their mind! These people have no shame and do not care about the effect their actions have on their communities!

Consider the fact that wealthy people in this country, the top one percent, have 17 percent of all assets and income in this country AFTER payment of all taxes! Is this not an indication of the maldistribution of wealth, and shows how these people have no patriotism or civic concern, as long as they can hoard their money and pass on their massive assets to offspring who will never learn what it is like to face the problems of everyday average people? πŸ™

Time For More Pressure On Banks Regarding Mortgage Modification

The Obama Administration has been attempting to promote bank modification of mortgages, cutting monthly payments so that the foreclosure problem, which is at an alarming rate, can be resolved in a way that allows homeowners to keep their properties.

The problem is that the banks benefit from foreclosures, and have been reluctant to negotiate with homeowners to modify their loans to more equitable monthly payments. So the government is increasing pressure for positive action covering many more homeowners.

If the banks do not help, after having gained taxpayer support on bailouts in the past year, then they would face sanctions and fines by the Treasury Department. So the government is working toward being tougher toward the banks, which is long overdue. Of course, many conservatives will say it is not the government’s job to tell the banks what to do, but I say that since the banks were saved from bankruptcy by taxpayer funds during the last months of the Bush administration, and this year by the Obama administration, it is their responsibility to do what is the right thing: keep as many homeowners in their properties as possible!