Home ownership rates had risen from 63.8 percent in 1994 to 69.2 percent a decade later, and are expected to fall to levels not seen since Dwight D. Eisenhower was in office. An entire generation of progress wiped out, but in doing so the banks can make more money by lending less but charging more. That's why monopolies are so popular, they are just damn profitable. A nation of renters with 62 percent ownership and what are the rates of home ownership in Socialist Europe? 67.1 percent.
"We are poised for progress. Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again." Barack Obama
Bank of America just gave its investment banking chief Thomas Montag a $15.2 million bonus this year. The amount is larger than the $9.05 million the bank awarded its CEO Brian Moynihan. It dwarfs the salary earned by Goldman Sachs CEO Lloyd Blankfein, who only earned $12.6 million dollars this year. " I don't begrudge" the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay." Barack Obama
These bank profits were earned from borrowing money from the Federal Reserve at .25 percent and lending it back out to the public at 29 percent. Any moron can show a profit like that! But you, yes you, are being asked to subsidize this lending. While the Federal Reserve is lending to the banks at a quarter percent interest with Obama's smiling approval, the taxpayer pays the difference of the real cost to the tune of over $20,000 per million dollars borrowed.
Steal yourself rich, and Ronny Reagan would be so proud.
Never acknowledge the truth! Never! Even when you shoot down a civilian airliner or send birthday cake to Iran. Even if the banks in Afghanistan are about to fail and President Karzai is involved, just ignore it, the suckers will soon forget. So what, if the Afghan bank's CEO bought $150 million in luxury villas in Dubai under his wife's name. So what if the Afghan President's brother owns seven percent of the bank and so what, if the total exposure is close to a billion dollars. Isn't that the American way? Aren't the Afghans doing exactly what they've learned from their American counterparts?
We have two years to bring about real change, be it through genuine Democrats, genuine Socialists or even some other third party. The script for 2012 is already written, if President Reagan/Obama faces a weak Republican challenger, the Tea Party will remain silent. If however, President Reagan/Obama faces a strong Republican challenger with a chance to dethrone him, then the Tea Party will enter the race to split the Republican vote. It will all look so honest and on the up and up, just like it did in 2000 and 2004. In 2008 we choose between a Republican and a Democrat, and even though the public chose a Democrat, we got a Republican.
Why would Republican leadership want some other Republican? This one is just like Ronny Reagan!