The wreckage of our housing market is a calculated shake down. Goldman Sachs and the hedge funds knew precisely what they were doing when they jacked up the housing market to hide the fact that our economy was decimated by factory jobs moving to Mexico and Asia -- The whole CDO-SIV scam jacked up the housing market, which had a huge ripple effect on the economy- remember W talking about it - but it is not sustainable when average house prices exceed average incomes - and wages have been stagnant and going down - not up - except for the top of the pile... Stage two of the shake down was creating foreclosures which hedge funds are now scooping up by the bucket full - turning them into rentals - at huge discounts. Banks got bailed out - but states are bankrupt due to lost property taxes... Same with counties and cities - which means all of their valuable public assets get put on the auction block for sale just like the foreclosed homes... Waterfront property, valuable buildings in prime locations, roads and bridges -- state owned assets that tax payers owned and paid for - going into vulture investors hands. Privatization on a national scale - and it is all "legal." But it is shake down worthy of the worst mafia we have ever seen.
Posted on: Fri, 13 Sep 2013 17:30:56 +0000
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