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News :: Globalization : Human Rights : International : Media : Politics
It’s The CREDIT Stupid
by Kenn Spacefield
24 Oct 2008
Sickened by The Federal State of America
Sickened by The Federal State of American Mass Media
In this "Economic Crisis" I find it amazing that the simple truth is so "elusive": Truth is: People over-used credit on debt equity. - Now; with over-valued US real estate dropping like a bomb, this debt equity that has been "commercialized" on paper is worthless.
The credit markets (banks , investors, brokers, fund guys, and "others") screwed each other and lied about the value behind their "commercial paper". (Like lying on a credit form, and misrepresenting your self.) It started with appraisers, banks, real estate sellers, real estate agents, (and "others"), sitting across the table from each other and misrepresenting their real estate. Brokers then "commercialized over-valued real estate with "Triple AAA" security derivatives, and the "securities" and "credit" markets, - fell in line; and bought it, sold it, and traded it. The "Credit" and "Securities" markets did not take the time to think; "Huh, maybe this future equity doesn’t exist?"; No - they pumped it up.
The amount of debt equity that "does not exist", except for "on paper"; and is now at use in the markets, is the problem.
Like real estate appreciation; the "mass media" has not, and is not handling this story very well; they are losing their money, and "reality" might cause (them) to lose more.
If you have over-spent your equity on credit, if you bought a house for zero down, this "crisis" is going to hurt. The more you are "into" credit, the more you will probably hurt. To buy a home with zero down and no equity, you were a renter who had hopes that real estate would go up, and up, and up; even though you and most people could not afford it - already.
(I was wondering, with the falling property values, if anyone would get a tax refund for overpaid property tax’s. If you think you will, please, hold your breath.).
Sickened By The Federal State of America
The Sickened State of The Federal Government
TWO WARS; A 100,00 Missing Arms and Legs; A Million Young People Killing and Being Killed; A Million Broken Lives; Torture; Illegal Imprisonment; Court Appointed President; Terrorist WAR; Drug WAR; Immigration WAR on "Aliens"; Federal Government Border Patrol Checkpoints; Failing Economic Model of Debt Appreciation; Federal IRS Property Confiscation; EARMARKS;
Election Campaign Financing; United States Federal Government Corporate Shmoozing of Lobbyists and Money; Housing Up and Wages Down; United States Over-consumption, Credit, and Greed; - Causing Global Meltdowns; Threats Intimidation and Fear Produced and Created by The United States Federal Government; Leaders Concerned With Elections More Than Life .
Drugs (politics, religion, or economic theory) will not cure this illness; people will.
The United States Federal Government suffers from a total disconnect from most people. Most people in the United States when asked if they trust the US Federal Government with their personal money collected through taxes; their answer is NO. Even most "employees" of the Federal Government, their answer is; NO. (I did my own survey and everyone I asked said; NO.)
Most Federal Income Tax money goes to support WAR and the military past, present, and future. I can honestly say that the United States Federal Government does not speak for me. I am saddened and ashamed of the United States Federal Government.
Who came up with this stupid plan? Lets tax land into development. Lets close down the 100 year old family farm because we can. Lets tell them their land is worth 10 million dollars even though they bought it for 10 thousand dollars. Lets tax the land at 10 million dollars, and if they do not pay the taxes; we will steal it from them, because they cannot "afford" to stay their anymore; and now they are non-taxpaying low-lifes, - who just don’t understand the nature of this new modern world. (It is a common occurrence for older people all over the United States).
THIS IS SICK!
It is sick and gross and ugly and we are doing it. Forced development because of taxation is sick!!!
Confiscation of property due to "future" equity and value of that property developed - is illegal and unconstitutional; to me.
It is an illness and it is sick to think because of "future" value and "future" development; land is valued and taxed and stolen, if need be; into development.
I am much more of a "patriotic" towards other human beings, than I am a "patriot" of nationalism and development. I am finding at this time in my life, I am glad most "patriots" own guns..
Bankruptcy and irrelevance happens to anyone who totally screws up their credit, and they start over. (I feel a receivership of governors should dismantle the FED when it goes under.)
The saddest thing about the United States of America LLC, is no one is to blame, their is no one responsible, isn’t that convenient?
Things are happening faster and with more necessity between states and cities; than the United States Federal Government can even comprehend.
The United States Federal Government should not be making all my decisions for me, let alone trying to control them; I work much better with my neighbors - we drink the same water!
United States IRS Federal Property TAX Liens Underwater
Federal IRS TAX Collection CRISIS Averted
The major Federal tax enforcement and collection system in the United States is in jeopardy. Billions of dollars in IRS property liens are "underwater". IRS property lien collection payments and wage garnishments, based on a persons employment and property ownership, is in a catastrophic state of failure.
The United States Federal Government has averted this failure by buying the mortgages and banks that hold these liens and write the paychecks.
Do you trust the United states Federal Government with your money ?
(Maybe we should ask "Joe the Plumber" or "Joe Sixpack"? I think they owe the IRS money.)
The terrifying way the collection of tax’s is now being practiced by the United States Federal Government; is no worse than torture, war, illegal imprisonment, or a stolen election. So don’t you worry, the "Animal Farm" economics being set in place, will be paid for by your children.
Illegal Use of Equity - Average and Normal
Economic Fascism and The United States
Animal Farm Economics - Economic Fascism in the United States of America
The Terrorist Among U.S.
This work is in the public domain