When the Depression took hold in 1929, it was World War Two that dragged America out of economic disaster.
What great conflict do the leaders of the USSA have planned to drag us out of this current nightmare?
Of course, even that ruinous strategy will not save us. We have been foreclosed on. Our culture, our society, out very lives have been mortgaged. The media sings songs of “green shoots” like the band on the deck of the Titanic as the great ship slowly slips beneath the waves.
The same callous, elitist two percent of the population that controls the rest of the country continue to gobble up what is left of our Republic as we founder. We shake our fists at the elected leadership in utter frustration and these very same usurpers call our cries of anguish “un-American.” According to Senate Majority Leader Harry Reid (D-Nev.) these protesters are merely ‘evil mongers.’
American manufacturing has been sent to the third world. Our unemployment situation worsens by the day. There is no way for the average American to continue to pay a mortgage that slips just as quickly into negative equity as the true value of the properties in question becomes apparent. Where is the end to the slide?
I recently looked at a home in Montclair, NJ that has been bank owned for nearly a year. The realtor involved worked as a salaried employee for the bank involved. She had no interest in the sale price of the home, as she would receive no commission from it’s sale.
She told me the previous owner had abandoned the property after securing nearly $800,000 in mortgage and home equity loans. The bank was asking $535,000 for it. I told her I thought it was worth about $325,000. Her final comment was “They won’t even get that for it.”
Look for drastic measures this Fall. Are the tin foil beanie wearers correct after all? Could it really be this bad?
A new disease, indeed.