tagged w/ Unemployment
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I am part of the problem. I could say that all of us are part of the problem, but the only real person I am an expert on, is myself. I can speak on those actions of others that seem to contradict what they say in public or even in private.I am part of the problem. I could say that all of us are part of the problem, but the... more
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Romney vs Reality and his big fat lies...
READ: Lorain, Ohio Mayor Ritenauer expressed his disappointment that Romney came to town without conducting basic research about the local economy and without having spoken to the people about the city’s economic state of affairs. Ritenauer pointed out that Romney simply “came to town and set up a sign stating that Obama is not working.”
To top things off, Romney hung his banner at a factory closed under George W. Bush...
http://veracitystew.com/?p=34203Romney vs Reality and his big fat lies...
READ: Lorain, Ohio Mayor Ritenauer... more
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With recovery in full swing and unemployment dropping to an Obama administration near record low of 8.2%, the US economy seems to be bouncing back stronger than ever.
Unless, of course, you look at the numbers no one in mainstream media, the Bureau of Labor and Statistics, or the administration is talking about. As many of our readers already know, the official unemployment rates released monthly by the BLS (U-3, U-6) fail to account for one very key figure – those individuals who are no longer in the labor force.
The number of those folks – the ones that don’t matter anymore because counting them would hinder the President’s reelection bid – is absolutely staggering for what is supposed to be the engine of the global economy and the world’s only super power:
Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%.
Over the past several years people have dropped out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low. Some of this was due to major revisions last month on account of the 2010 census finally factored in. However, most of it is simply economic weakness.
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In the last year, the civilian population rose by 3,604,000. Yet the labor force only rose by 1,315,000. Those not in the labor force rose by 2,289,000.
The Civilian Labor Force fell by 164,000.
Those “Not in Labor Force” increased by 310,000. If you are not in the labor force, you are not counted as unemployed.
Those “Not in Labor Force” is at a new record high of 87,897,000.
Source: Townhall Finance
With some 248 million people over the age of of 15, nearly one in three Americans in this country are not working.
While the participation rate includes people like those in retirement and stay-at-home moms (because they definitely haven’t worked a day in their lives, as was recently noted by democrat strategist Hilary Rosen) who have no intention of joining the traditional labor force, the last four years have seen an unprecedented drop in the rate of labor force participation as well as unemployment overall. Charlie McGrath of Wide Awake News explains:
The government… pretending everything is getting better because we spent trillions of dollars bailing out firms we now call too-big-to-fail. But the fact of the matter is, in order to get this kind of 8.3% fictitious fantasy number they had to lower the participation rate.
In the last four years we’ve lost 10 million people out of the participation rate. Just to give you an idea of how many people that is, it would take the city of Dallas, Salt Lake, San Diego, Spokane, Roanoke and Cincinnati… the people living in those city limits. If you double that number that gives you the number of people that have left the participation rate that are no longer in the working pool.
Yet, that isn’t stopping the mainstream media from reporting that things are getting better. We’ve spent this nation into absolute financial servitude.
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Understand that when you turn on the mainstream media you are being fed propaganda.
The Obama administration is pulling out all the stops.
If the real story came out – that the true unemployment rate in this country (those out of work plus those who the government deems as no longer participating) is almost triple that of the official BLS U-3 rate of 8.2% – confidence in the financial markets and the government’s ability to mitigate the crisis would be lost almost immediately. So, too, would Obama’s hope for another four years of fundamentally changing America.
But just because the President and his media conglomerates are preaching of recovery doesn’t mean that everyone believes it. A large portion of Americans, especially those millions of people without jobs, are not going to be swayed by the mainstream propaganda.
They are living in a modern day depression right here and now, and they, too, will be headed to the polls in November. And, as Jim Clifton, CEO of Gallup, recently pointed out to RT, they don’t care about anything else except for their personal economic and financial circumstances:
RT: What are the dynamics in terms of opinion polls as far as the economy goes, among the American people, the way it was four years ago and the way it is now?
JC: We were going just fine in 2007, first part of 2008, then we crashed down. Now it’s coming back a little bit.
RT: Enough to win President Obama the next election?
JC: I don’t think quite yet… According to the Gallup poll, if we vote tonight, Romney will beat him… They are not voting for Romney – they just vote against the president.
RT: What are the main reasons not to vote for the president?
JC: Strictly unemployment. Just one reason. Foreign policy plays no role at all right now. If something really big happens… that will only make a little bit of a difference. Americans don’t want to hear about foreign policy. They should, but they don’t. Gallup shows real unemployment is close to 20 per cent in America. Not 8.5 but 20 per cent. 30 million people are out of work. 60 per cent of them told Gallup they have no hope of getting a job. That is 18 million.
RT: Do Americans blame the president for that?
JC: There are two questions here. Do I think they should? No. Do they? Yes.
President Obama most certainly inherited this crisis from his predecessor(s), but he’s taken no steps to change anything for the better.
The hope many had that life would improve under policies designed to redistribute wealth to the masses by taking from those with the ability and giving to those with the need is rapidly diminishing.
The trillions of dollars backed by human collateral that has been thrown at the crisis has done nothing to fix the underlying issues that caused it in the first place. All of the problems we faced in 2007/2008 are still here, and they are only going to get worse.
If you think 88 million not participating and 20%+ unemployment is bad, give it another four years.
Right now the safety nets are in place to help most of those who can’t find work – at least for 99 weeks until they are no longer counted as unemployed. But those safety nets, including medical care and food assistance, can only take so much before they snap.
That moment is rapidly approaching.
http://www.freedominfonetwork.org/profiles/blogs/88-million-that-s-one-in-three-americans-are-invisible-to-governmWith recovery in full swing and unemployment dropping to an Obama administration near... more
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Does the Trayvon Martin murder/coverup set a president? Police killing the unemployed desperate coming to America?
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Mrs. Christy Schwundeck nee Omorodion, a Nigerian woman shot to death by German police 10 months ago. Having lost her job as a house cleaner, and desperate for money, Christy went to an employment center and asked for €10 (US$13) to which she was entitled. A clerk denied her request and Christy refused to leave. The cops were called in and they killed her. Christy is survived by her 12 year old daughter and husband, Peter Schwundeck. The killer cop claims that Christy attacked her with a knife and was shot in self-defense. Another police coverup is underway.Does the Trayvon Martin murder/coverup set a president? Police killing the unemployed... more
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Don't look now but many employers want the right to be able to ask you for your Facebook password to check up on you...Don't look now but many employers want the right to be able to ask you for your... more
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For this new strand on WORLDbytes guest experts with a critical take unpick orthodox ideas which suggest we should all tighten our belts. For this first programme debt is the issue and with us in the studio is Phil Mullan, Business Transformation Director with Easynet Global Services. He is also researching global economic trends and writing a book on ‘The Limits of Fudge: why muddling through can’t work forever’.For this new strand on WORLDbytes guest experts with a critical take unpick orthodox... more
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By Eric W. Dolan
Monday, March 19, 2012 18:52 EDT
Republican presidential candidate Rick Santorum said in Illinois on Monday that he was not concerned about the unemployment rate because it wasn’t the government’s duty to create jobs.
“We need a candidate who’s going to be a fighter for freedom,” he said during a campaign speech, “who is going to get up and make that the central theme in this race because it is the central theme in this race.”
“I don’t care what the unemployment rate’s going to be,” he continued. “Doesn’t matter to me. My campaign doesn’t hinge on unemployment rates and growth rates. It’s something more foundational that’s going on. We have one nominee who says he wants to run the economy. What kind of conservative says that the president runs the economy? What conservative says I’m the guy, because of my economic experience, that can create jobs?”
“I don’t know. We conservatives generally think that government doesn’t create jobs. That what government does is create an atmosphere for jobs to be created in the private sector.”
Santorum continued to attack Mitt Romney in his speech, saying Romney’s health care plan in Massachusetts was the basis of “Obamacare.”
“Why would the Republican Party nominate someone who can’t talk about this issue?”
http://www.rawstory.com/rs/2012/03/19/santorum-does-not-care-about-the-unemployment-rate/
Watch video, courtesy of CNN...
"All we care about is that your Happy Ass will NEVER be POTUS!!!"By Eric W. Dolan
Monday, March 19, 2012 18:52 EDT
Republican presidential... more
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Our news media are so focused on the issues and the rhetoric spewed over them, that their lenses are NOT shining a light on the very thing that millions are craving; solutions.
During my 4+ years of no regular paychecks and recreating/educating myself based on my skills and passions, I traveled, (whenever I had gas money!), giving hunger and related issues a voice through videos, photos, blogs and lots of comments in social media forums.
I quickly learned that there are really innovative solutions popping up in communities all over; many formed through coalitions of organizations, businesses, schools, etc., that other communities could learn from, if a light/lens was shown upon all these 'Great Ideas That Work', (GITW). I also realized that I on my own, wasn't going to have the reach to help those communities and millions of people.
Then, I had my own GITW! What if there were a contest, where people from all over could submit their essays, photos and videos, folk could vote for the winning entries, exposure in media/social media would be great and we could publish a book and a feature length documentary out of the entries? So... I made a video proposal to The Ellen DeGeneres Show, figuring she likes positivity, hope, cool things and she has a far reach. https://bitly.com/wWSjR8
I have yet to hear from Ellen's staff and this week, the toll of so long without a regular income, will claim my home. I want to get this idea viral and for some major entity to MOVE on helping the millions of hopeless, using ideas that already exist. (I'd also like them to give me a job but my higher purpose has always been to help others.)
GE, parent company of MSNBC/NBC/CNBC tout their work in innovation and between the 3 aforementioned networks, have millions of devoted viewers that could go out in their communities, (if they don't already know what GITW in their regions!), and seek/document/submit, so that we could start repairing the severe fracture in America's foundation; the diminishing middle class which is swelling the ranks of the impoverished.
I'll be spending the day making a video proposal to GE and several other entities I feel could step up and pull this project off, but hope that y'all can help me send my video proposal to Ellen, viral. I need a miracle and so do millions of others. Wouldn't it feel great knowing you helped change a life and/or millions, with a small action?
Please start pushing our national and local news media, to start reporting on solutions. A small spark can unleash a wildfire.Our news media are so focused on the issues and the rhetoric spewed over them, that... more
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Think Apple is the only thing allowed to hit new records every month? Think again: presenting iFoodstamps - the number of Americans living in poverty (or at least doing a damn good job of fooling the government in pretending they do).
As of December, per SNAP this number just hit another record high of 46.5 million, an increase of 384,000 in one month (and ending the trend of declines from October and November), 2.4 million in 2011 (about as many as have dropped out of the Labor force, hmmmm), and 14.3 million since 2008.
But it's not all good news for iCommunism: as of December the benefit per household has dropped to a series low of just $280.5. One can only hope this money is being spent on edible iPads and not on silly things such as iPot.Think Apple is the only thing allowed to hit new records every month? Think again:... more
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There are a great number of benchwarmers who could use a break right now. Baby Boomers. The unemployment rate is reportedly low, but the sheer numbers make the unemployment picture for those over 55 somewhere around 6.8 percent. There are almost two million people who are waiting to get a chance, and they are being totally ignored by the political system and by business decision makers because they don’t fit some human resources department’s idea of what an employee looks like...
http://veracitystew.com/2012/02/16/unemployed-and-forgotten-seeking-a-jeremy-lin-moment/There are a great number of benchwarmers who could use a break right now. Baby... more
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Unexplained dolphin strandings continue in Mass.
Congress reaches payroll tax-cut deal
Seattle Arrest Questions Cops’ Use of Dash CamsUnexplained dolphin strandings continue in Mass.
Congress reaches payroll tax-cut... more
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In his daily radio show the uber-conservative accuses the administration of making the unemployment numbers look better than they really are.In his daily radio show the uber-conservative accuses the administration of making the... more
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To Catherine Cortez,
Pam Bondi,
Kamala Harris,
Eric T. Schneiderman
Attorney Generals of the States of Nevada, Florida, California
and the State of New York
Thank you for standing firm on not settling with the banks, and the others that have damaged our lives, and our economy
Please consider the new mortgage terms, and principal reduction policy outlined in this paper, before any settlement with the servicers, and other parties involve in the fraud case the States have filed against them.
Please forward this information to all the AGs that are participating in other lawsuits in other States.
If at all possible please confer with President Obama
Thank You
Leonard C. Tekaat, Economic Scholar
RESOLVING THE FORECLOSURE AND FORECLOSURE CRISIS
We are in a national economic slump caused by national policies! We must change national policies to resolve national problems.
Main St., the middle class, the working class, small businesses, and people in general have been financially decimated by the current financial crisis. Their disposable income , and confidence have been decreased.
This financial crisis has created one of the longest down turns in US economic history.
The vacant, and abandoned homes that are in our neighborhoods are similar to food that is rotting in the fields. We can do better than this for our citizens, when you consider that so many families need better housing.
The buzz on the housing market is: Sell the foreclosed homes to investors. Rent the foreclosed homes to previous home owners and tenants. Sell the homes with underwater mortgages by short sale, to deal with the foreclosure crisis.
Let me ask you, Do we really want a nation of investors, and renters?
Short sales are ok, and renting is appropriate for some people, but we need to help the majority of people stay in their homes, if at all possible, to maintain the American Dream of home ownership.
Sure we screwed up this time, but wise people learn from their mistakes, and make the necessary corrections to stop repeating the same mistake we have been repeating for the last 100 years.
Lately there has been talk about a national refinance plan that would help heal the primary home market.
Federal Reserve Chairman, Ben Bernanke, and Elizabeth Duke have made speeches in favor of the government doing more to stabilize the housing market. President Obama mentioned a national refinance plan in his 2012 State Of The Union speech.
I believe the private financial sector needs to step-up, and help resolve the foreclosure, and unemployment crisis they helped create.
We need to go beyond just a refinance plan. The economy needs a principal reduction plan to quicken recovery. We cannot wait 30 years until all the underwater mortgages are paid off, or the homes are foreclosed, or abandoned.
Every qualified homeowner with an underwater mortgage must be included in the national refinance plan, and the principal reduction policy. Which is approximately 25% of current homeowners.
The economy needs a principal reduction plan to unload the burden that the Big banks, Wall ST. and the government helped create to increase their profits, and tax revenues.
Homeowners are not innocent, but the working, and middle class people should not be the only ones suffering to clean up the mess the "BIG BOYS" MADE.
WE; Have to change that! The Big Boys got the "Gold Mine" WE got the BILL!!
The Committee For Economic Reform and A Better Economic Future has developed a PRIVATE SECTOR SOLUTION TO JOB CREATION AND ECONOMIC RECOVERY.
WE CALL IT "THE PEOPLE'S ECONOMIC RECOVERY PLAN.
The Plan has basically two parts. Get the economy on a healthy path to recovery, and change the policies that helped create the financial crisis.
To help prevent another financial crisis from occurring, we need to stop relying on the Federal Reserve to slow the economy down, when it is getting out of balance, and the amount of money, and credit that is being created is growing too fast. Instead we need to use the income tax to control inflation psychology, and excessive hard capital asset appreciation.
We believe that the financial sector, investors, and the people will embrace the "PLAN", because it will help heal the economy, and the primary home market. Improving the primary home market will decrease the unemployment, and the foreclosure rate, without increasing the deficit, like a government jobs program, or another government stimulus program will do.
We do not want to leave our children, our grand children, and our great grand children a legacy of debt to pay off with higher taxes, or an inflation tax, which will make us all poorer, create more poverty, and more government social liabilities.
You are correct, if you believe the foreclosure crisis will not correct itself quickly, without direct action. There are three things we can change, to speed up recovery.
1. Change the bankruptcy law. 2. Increase aggregate demand, without increasing the deficit. 3. Change the guiding policies (income tax policies) of our enterprise economy.
We need to convince the financial sector that it is to their benefit to make changes to their mortgage terms, and the bankruptcy laws to prevent more foreclosures, and improve the economy. Banks are only as financially strong as their customers. Their customer can be a government, or a homeowner. Greece, and the other PIGS countries are a perfect example of this. Their government debt problems can crash the world's banking system if their government debt, and their citizens debt obligation are not restructured as soon as possible.
Purchasing the new mortgage, or lowering principal balances should not cost the taxpayers a dime.
Reducing principal balances would be a way of helping the economy to rebalance itself, and for the financial sector to pay for the damage it did to our economy. The 25 billion is only tiny portion of what is needed to repair the damage that has been done by the banks and financial sector. The "Plan" includes all current home owners. Those families that have lost their homes illegally should receive a direct payment for damages.
For more info. go to foreclosurecrisissolved.wordpress.comTo Catherine Cortez,
Pam Bondi,
Kamala Harris,
Eric T. Schneiderman
Attorney... more
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Sunday, February 5th, 2012 | Posted by Ed Mattson
Wall Street is up…the Dow, Nasdaq, and S&P. Unemployment dropped to 8.3%. According to the Mainstream media, Obama, and all liberal and the Washington DC intellectuals who applaud BIG GOVERNMENT, are dancing like fairies in wonderland. Those who have longed for the day America joins the socialist democracies in Europe, can all take a sigh of relief…Obama the Messiah was right. His vision of changing America and his answer to whatever ails America can be solved by the federal government and is working. It is time for all of us to kneel on our blankets and bow toward the White House five times a day!
If all this is true and Obama is truly able to walk on water; that unemployment is really dropping like a sack of manure; that BIG GOVERNMENT is really the answer; and that our Founding Fathers concept with our experiment in free enterprise democracy has finally been dis-proven after creating the greatest nation the world has ever seen, then I must have missed something here.
I have been saying since I can remember that figures make liars out of those with good intentions and fools out of those who believe them. For those who believe the massaged numbers regarding the unemployment…sorry, but you are apparently drinking the Kool Aid.
Total non-farm payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Cheers! Let’s all celebrate.
HOWEVER…In the week ending January 28, the advance figure for seasonally adjusted initial unemployment claims was 367,000, a decrease of 12,000 from the previous week’s revised figure of 379,000. Soon we will also have an influx of 900,000 veterans leaving the military and entering the workforce. Let’s see them cover those numbers up. Oh yeah, they will just be uncounted folks who won’t have jobs, because I don’t believe they will qualify for unemployment insurance.
You were promised change…here’s your change by the numbers:
[See Attached Media]
Thanks to how the government does its calculations, they can make the numbers infer anything they want. To say the numbers are being “fudged” in Washington, is no stretch of the imagination. Only in Washington can you lower the unemployment rate by increasing the number of those going back to work by 243,000, while at the same time you have an increase in new unemployment claims of 367,000. So the media, without any investigation buy into these glowing reports and believe we’ve made great headway…”unemployment has now dropped to 8.3%”…Right.
How can this be? To get the TRUE PICTURE, you have to look at ALL the numbers:
1.2 million people gave up looking for work in January. These are folks who dropped off the extended unemployment compensation insurance, gave up, or who took a part-time minimal wage job.
Only 12.7 million are now officially unemployed if you listen to the mouthpieces in Washington, but the real number is over 17 million if you calculate back in the 4.7 who have stopped looking since Obama took office. We can’t blame The President for all those as it started before Bush left town, but we certainly shouldn’t be celebrating. As Yogi Berra said, “It ain’t over ’til the fat lady sings”.
Obama is bragging that he added 3.7 million new jobs since the Bush era, but the reality is 4.3 million jobs have simply disappeared from the United States of America since Obama became President. 4.4 million jobs disappeared during the 2007-08 panic. But after Obama took office, an additional 4.3 million jobs disappeared. These were from jobs shipped overseas and in plant closings.
So when Obama says “altogether, we’ve added 3.7 million new jobs over the last 23 months”, he’s not giving you the full story. We are still 5.6 million jobs below where we were at the peak in 2007. Add to that the 4.9 million new jobs that would have had to be created just to soak up new entrants into the workforce, and all told we have a jobs deficit of 10.5 million.
When one adds in the 10.5 million who are working part time but would like to be working full time, we have 28 million who are unemployed or underemployed. As far as the “official” unemployment number goes it is a big fat statistical lie. The number for the real unemployment rate for 2011 was about 22.7%. (if unemployment was done the way Bureau of Labor Statistics did it before 1994) and probably over 19% so far for 2012.
According to the REAL VOICE ON WALL STREET, Investor’s Business Daily:
The president said: “We can’t go back to the policies that led to the recession. And we can’t let Washington stand in the way of our recovery.” And “We can’t go back to the policies that led to the recession”? We are told this is “our recovery”. The cause of the recession was, in fact, housing policies put in place by President Clinton and aggressively supported by Democrats in Congress, including former Sen. Barack Obama. How soon we forget. These were the policies that led to the housing meltdown, the financial crisis and, ultimately, the deep recession we’re still climbing out of, yet Obama’s “blame Bush” theme will be the Democrats’ strategy for the 2012 campaign. So get used to it.
The truth is, by now we should have created millions more jobs than we have. But Obama’s $836 billion stimulus, his botched industry bailouts, his failed “green” energy policies (Solyndra, et.al), his regulatory siege on business, and his disastrous attacks on Wall Street and entrepreneurs have made this the worst recovery in history.
These government “number slingers” are the same bunch that tells you the Consumer Price Index increased 3.0 percent before seasonal adjustment to end 2011. Let’s see… 3% inflation. Do you really believe that? Have you been shopping lately? Have you purchased gasoline or diesel for your vehicle so you could go to work (if you still have a job)? Oh, that’s right. THEY DON’T COUNT GAS AND FOOD IN THE INFLATION RATE! I guess we don’t need food or gasoline.
In most families the women do most of the grocery shopping right? Men usually aren’t always up to current grocery store prices. Next time anyone talks about politics and how things are going, just ask them if they have purchased ten pounds of potatoes this past year, or stopped in at a gas station. In 2009, 10 lbs of potatoes cost about $3.50 in Western Michigan (about $3.00 at Wal-Mart). Today the cost is over $5 any place you want to shop. Gas was $1.79/gal when Obama’s entourage slithered into Washington and today, down at the local discount gas station here in North Carolina, it’s $3.59. Is it any wonder they DON’T CALCULATE FOOD AND GAS INTO THE CPI?
...
[Continued at source link]
http://www.veteranstoday.com/2012/02/05/hows-that-change-working-out-for-you/?utm_source=rss&utm_medium=rss&utm_campaign=hows-that-change-working-out-for-you&utm_source=twitterfeed&utm_medium=twitterSunday, February 5th, 2012 | Posted by Ed Mattson
Wall Street is up…the... more
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ITS TIME TO FORECLOSE ON FANNIE MAE AND FREDDIE MAC
Its time to foreclose on the foreclosurers!!!
Occupy Fany.Fredy is calling for direct action to end the unnecessary foreclosures. We the people are calling for a joint effort to occupy Fannie Mae and Freddie Mac to force Congress to foreclose on F&F to facilitate, and economic recovery in our country, if they do not agree to a monthly mortgage principle reduction policy and the use of new mortgage terms.
For more information go to:http://goo.gl/tMfAWor www.foreclosurecrisissolved.wordpress.com/
LEARN HOW FREDDIE MAC HAS BEEN BETTING AGAINST YOU MAKING YOUR MORTGAGE PAYMENT.
http://www.npr.org/2012/01/30/145995636/freddie-mac-betting-against-struggling-homeowners?sc=fb&cc=fp/
There is article, after article written about how Fannie Mae and Freddie Mac, the giant mortgage securitization corporations, are unwilling to reduce principle balances on underwater mortgages they hold, even tho other financial businesses
have been able to reduce foreclosures by using principal reduction to keep families in their homes.
Still have doubts, read the article, posted on my web site "Fannie and Freddie Stand In The Way Of Debt Reduction" is the headline of an article that recently appeared in the New York Times.
Here is a few paragraphs from that article.
LIMITED IMPACT
(Any settlement would not apply to mortgages owned by Fannie Mae or Freddie Mac, which together own or guarantee most of the U.S. mortgage market. The regulator that controls the two government-sponsored enterprises has resisted cutting their loans, arguing it would cost U.S. taxpayers more money than other options would.
But lawmakers and top administration officials have pushed for a broader principal reduction program, and this settlement could lay the groundwork for that if Fannie Mae and Freddie Mac are swayed to test it out themselves as an alternative to the costly process of foreclosing on struggling borrowers.
Earlier on Wednesday, House Democrats sought to force the housing regulator, the Federal Housing Finance Agency, to explain its calculations in deciding not to offer principal reductions.
In addition, the Federal Reserve said in a rare 26-page white paper delivered to Congress this month that lawmakers need to do more to stabilize the housing market. But it stopped short of endorsing any plans to have Fannie and Freddie slash borrowers' loan balances)
Still have doubts, read the article "Fannie and Freddie Stand In The Way Of Debt Reduction" is the headline of an article that recently appeared in the New York Times.
Banks are trying to limit their responsibility for the damage the have done to people lives and our economy, as pointed out in his paragraph from an article Published on Monday, January 23, 2012 by Common Dreams says it all!
Obama's Choice on Housing: A Sweetheart Deal for the 1% or a Fair Deal for the 99%
by Van Jones and George Goehl
Rumor has it that as early as today, after months of negotiation with big banks, the White House may announce a settlement that would let the banks off the hook for their role in the foreclosure crisis -- paying a tiny fraction of what's needed in exchange for blanket immunity from future lawsuits.(Daniel Goodman / Business Insider
Now is the time to demonstrate, petition, convince, and occupy F&F to change their policy of no principal reduction. This is where the occupy groups should focus all their efforts to end the foreclosure and unemployment crisis.
Millions of American families are being kicked to the curb by the banks, and the financial sector. It is our contention that most foreclosures, and home abandonment's are unnecessary, or preventable.
Fannie Mae and Freddie Mac hold the key to improving the primary home market, and the economy, as explained in The "People's Economic Recovery Plan". www.foreclosurecrisissolved.wordpress.com
We should occupy, march, and hold demonstrations at Fany & Fredy headquarters.
We are not alone in this effort. The Federal Reserve, and members of Congress are putting pressure on the GSEs to reduce principal balances, and lower the interest rate on mortgages. Our efforts to bring attention to this inaction by F&F will reinforce our Representatives in Congress that are working to solve the foreclosure and unemployment crisis.
Occupy Fany.Freddie invites all the Occupy, and other concerned groups to join your fellow citizens to convince F&F, for their own benefit, and for your benefit, to change their mortgage terms and adopt a policy of principal reduction.
If we want to help millions of people stay in their homes, and find employment, F&F must purchase the "Ascending Interest Rate Mortgage" (AIRM), from banks and mortgage originators, and adopt the monthly principal reduction plan for underwater mortgages. If F&F will purchase the new mortgage, the banks and mortgage originators will offer the new mortgage terms to homeowners and home buyers. There-by eliminating the foreclosure inventory, and improving the primary home market and the economy.
F&F owe taxpayers over 150 billion dollars. If F&F do not agree to purchase the "AIRM" from the mortgage originators, the tax payers of the United States of America should kick their executives, and Mr.DeMarko, the head of Federal Housing Finance Agency, to the curb, and foreclose on them by petitioning President Obama, and the US Congress.
We the people should then adopt the "Plan" ourselves to facilitate an sustainable economic recovery, to put people back to work in the private sector, and prevent more foreclosures.
The "Plan"outlines three changes that need to occur to empower the people to create their own economic recovery. Changes to the bankruptcy laws, a change to mortgage terms, and a change to the income tax, as outlined in the "Plan".
View and sign our Petitions to "Stop Unnecessary Foreclosures" at: http://www.change.org/petitions/stop-the-unnecessaryforeclosures-and-uneployment-crisis-with-new-mortage-terms/
To view a video about bankruptcy go to: http://www.youtube.com/watch?v=J7YPR_p7DYQ%2F
If you want to increase job opportunity, and reduce foreclosures without increasing the deficit, please become a friend of Occupy Fany.Fredy and "Like" us at: http://www.facebook.com/pages/Occupy-FanyFredy/177079029043062?sk=wall
Not ready to get involved yet? What if it was your home, or your family's home that was being foreclosed? The way the economy is going, you could lose your job tomorrow, and your home could be in foreclosure in a few months. Help others now, to improve the economy, so it doesn't happen to you.
This is important!!Please forward this information to your friends, contacts, the news media, other occupy groups, and concerned organizations. Thank You!ITS TIME TO FORECLOSE ON FANNIE MAE AND FREDDIE MAC
Its time to foreclose on the... more
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"Quantitative easing (QE) is an unconventional monetary policy used by central banks to stimulate the national economy when conventional monetary policy has become ineffective. A central bank buys financial assets to inject a pre-determined quantity of money into the economy"
In other words, the Private Central Federal Reserve Cartel is implementing the same policy from the past few yearsthat has changed nothing. Oh and Obama runs nothing.
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The central bank of the United States believes that America is still a ways from economic recovery, which could soon prompt the Federal Reserve to announce a new round of quantitative easing, or QE3.
Fed Chairman Ben Bernanke addressed the economic status of the US on Wednesday and experts predict that the grim statement he offered suggest that QE3 is just around the corner.
"The framework makes very clear that we need to be thinking about ways to provide further stimulus if we don't get improvement in the pace of recovery and a normalization of inflation,” Chairman Bernanke said at a conference Wednesday. He added that unless the US sees a major economic recovery anytime soon, the Fed would be needed to step up to the plate.
According to the chairman, the purchasing of bonds to boost the economy is “an option that is certainly on the table”
Speaking Wednesday, Bernanke said that the Fed would keep interest rates low until at least 2014 and said that hopes of the American economy finally seeing a recovery were faltering. “If there’s a need to let inflation” return “a little more slowly to target in order to get a better result on employment, then that’s something that we would be willing to do,” Bernanke said."Quantitative easing (QE) is an unconventional monetary policy used by central... more
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confess; I expected to be bored out of my mind listening to President Obama’s campaign - I mean, State of the Union - I mean campaign, speech.
It turned out that my pre-determination proved accurate. I wonder if the members of Congress felt the same sense of same déjà vu that I did, as they were bopping up and down and applauding.
Obama's speech was a compilation of highlights from his past ones. One part optimism, two parts repetition equals one total uninspiring.
1) The cost of healthcare insurance
2) Student Loan Defaults
3) Youth unemployment
4) Big banks
5) Small banks
6) Borrowers
7) Recent regulator incompetence
8) MF Global and customer money
9) Banks hoarding
10) Obama conveyed that we dodged a bullet with getting the banking system under control. He didn’t note the rising risk in the banking system: the largest four US banks (JPM Chase, Citibank, Bank of America and Goldman Sachs) control nearly 95% of the US derivatives market, which has grown by 20% since just last year, to $235 trillion JPM Chase holds 11% of the world’s derivative exposure, Citibank, Bank of America, and Goldman comprise about 7% each. Goldman has 537 times as many (from 440 times last year) derivatives as assets and it’s still considered a bank holding company (as per Bernanke) that gets federal backing.confess; I expected to be bored out of my mind listening to President Obama’s... more
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