United Front Against Austerity
May 5, 2014
Good – now all those "underqualified
borrowers" can rent overpriced slums (sometimes including their own
homes) from the Blackstone Group.
If there was ever a case to fight usury with a national bank, this is it. See Alternet's "The Coming Nightmare of Wall Street-Controlled Rental Markets."
Whether you're paying a mortgage
or renting, up to half of your hard-earned pay is enriching hedge fund
predators, who use most of it to snort cocaine off the backsides of
hookers on yachts in Saint-Tropez.
The total amount of primary
mortgage debt in the US (not including interest) is roughly ~$10-15
The Iraq war cost about $6 trillion.
Why would we not use our
new National Bank (the Federal Reserve, minus its leadership) to
refinance that mortgage debt (up to some common denominator) at zero or
near-zero, simple interest rates?
"Experts" will protest that
the government will take on a tsunami of bad debt.
That means your bad
But if you can afford to pay exorbitant interest on your mortgage
to a zombie bank, why could you not afford to pay modest fees to a
national bank (with the loans serviced through your own local credit
union or non-zombie bank)?
We could destroy Wall Street
overnight and make all our lives much easier, which is why you'll never
hear any of this on your nightly news.