In ancient Rome, the Emperors fed Christians to the lions and engaged in unimaginable manner of depravity. What was done then is so insignificant in comparison to what is presently being done in this country.
Then, there was one Roman Emperor who fed Christians to the lions. While that got a lot of publicity, just how many Christians did he feed to the lions? Now, there is a faceless and nameless bureaucracy that sentences multitudes all over this country to endless grinding poverty. Not until you’ve been poverty stricken yourself can you fully understand what it means to live in this condition. If you happen to live in poverty stricken neighborhood in the city, you live in an open air insane asylum.
Let me begin at the beginning; that was before lower middle class neighborhoods became open air insane asylums. I know first hand, because I sold my house in just such a neighborhood that I had lived happily in for 30 years. Not until the relative who lived in the house died, did I have to sell it. When I went back to the old neighborhood in June of 07 to sell the house, we were showered with so much love that my adult son wanted to move back into the house and neighborhood where he was born.
That was in June of 07, I want you to mark that date in your memory, it’s very important. The Federal Reserve announced on May 10 the 16th consecutive interest rate hike, directly impacting variable interest rates on credit cards. The rate announcement was based on the federal funds rate, which is the rate the Federal Reserve Banks charge member banks for short term loans. The prime rate moves in lockstep with the fed funds rate and is the more recognized rate since it is the underlying index for most adjustable rate loans.
Did you read and understand that paragraph? This paragraph is from “Wikipedia”; The United States housing bubble is an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble “the most significant risk to our
“Everyone”, and I do mean everyone; has referred to some mysterious “housing bubble” as though houses got so high that they could no longer sustain the high price, and the bubble burst. That’s the biggest lie ever told, and it’s been repeated so much that everyone believes it. In 2006 The Federal Reserve announced on May 10 the 16th consecutive interest rate hike, directly impacting variable interest rates on credit cards. Understand this; if you did not have a variable interest rate mortgage, your house payment was not affected; however, if you did, it’s possible that your house payment increased by $1000. dollars. Could you make your present house payment if it increased by $1000. dollars a month?
Nero fed Christians to the lions. How many Christians did he feed to the lions? The Federal Reserve sentenced multitudes to foreclosure, for no good reason; as a matter of fact that was an indication of the “Nero syndrome”; it was the same as when he fed Christians to the lions, only this time multitudes were fed to homelessness as a result of foreclosure. While this happened in 06, it took a year for it to affect people who had no direct connection to variable interest rates. They were affected by so many house foreclosed on; that reduced the value of their house wherever it was.
Back to the old neighborhood; when that house went on the market in June of 07, agents were almost fighting over the listing, they knew if it was priced right, it would sell in no time. Sure enough we got a contract a month after it was on the market. It took three months from the time we got the contract, till we went to close on the house. When we got to the title company, the buyer had changed his mind, and forfeited the earnest money; that was because in just three months time, the neighborhood had changed. While it looked the same in the day, at night it was a different place, dope pushers had become active.
June of 07, is important for another reason. If you go here http://wp.me/p2vRlu-4 and click on the gasoline hand, this gasoline chart will enlarge. Now go to the bottom of the chart, and the middle of the year 2007; here is where the price of gasoline had doubled, it was higher than it had ever been in history, but not as high as it would eventually go. The “lower middle class”, people just getting by, were impacted the most, their transportation costs had doubled. Entrepreneurs in the neighborhood saw a way to compensate for increased expenses by moonlighting as dope pushers. While this is what went on in just one tiny lower middle class neighborhood in the United States of America, that action was being duplicated all over this country in similar urban neighborhoods.
Although the price of gasoline was the one most visible, the prices of all the commodities had doubled. While this is an absolute “normal” impossibility, it happened. The affect of all those price increases was mind boggling in regard to the cost of living, and this has not even been acknowledged. The “double whammy” had occurred in a very short length of time; the rapid depreciation of home values, and the doubling of the cost of living. The “double whammy” was accompanied by another, called “unemployment” giving us the affect of living under “The Triple Whammy”. Today is 12 December 2013; now simply use your common sense and think about the effects of the things that resulted from what I’ve described in this diary, and I haven’t even gotten to effects of what happened in the year 2008; that’s where I’ll begin in my next diary.