President Herbert Hoover
About 1 in 4 Q2 home sales a foreclosureWhat a sweet deal for the bankster gangsters who helped the Federal Reserve engineer this economic depression.
Nearly one in every four U.S. homes sold in the second quarter was a deeply discounted foreclosed house.
Banks stepped up foreclosures through the summer and will take over a record 1.2 million homes this year, up from around 1 million last year and about 100,000 in 2005before the housing bust, according to a forecast from the real estate data company.
Foreclosed homes accounted for 24 percent of all second-quarter sales, at an average price discount of more than 26 percent compared with homes not in the foreclosure process.
Distressed homes, or ones in foreclosure or short sales, rose to 34 percent of all existing houses sold in August from 32 percent in July and 31 percent a year ago, the National Association of Realtors said last week.
No, we're not out of the 'recession,' in fact, it appears to be getting worse.
We're getting lied to by the Fed, the White House and Congress, all to fool us into thinking they're doing a good job, so we vote the crooks back into office. Just like our grandparents were lied to by then President Herbert Hoover, always proclaiming that "Prosperity is just around the corner" during another Federal reserve engineered disaster, the Great Depression of the 1930's. Only the people kept turning so many corners, they wound up back where they started. (Hoover, blamed for inactivity during the Great Depression wasn't a complete bastard. He did some excellent humanitarian work during and after WWI, getting food and shelter to the homeless and starving and repeated this during the Great Mississippi Flood of 1927. As president, he managed to close some tax loopholes for the wealthy and double the number of veteran's hospitals.)
Hoover and Secretary of State Henry Stimson outlined the Hoover-Stimson Doctrine that said the United States would not recognize territories gained by force.
Hear that, Israel?
Hoover was no fool when it came to the USSR and getting the USA involved in WWII:
During a radio broadcast on June 29, 1941, one week after the Nazi invasion of the Soviet Union, Hoover disparaged any "tacit alliance" between the U.S. and the USSR by saying:And it is a tragedy that our government is in bed with the Masters of Disaster at the Federal Reserve."If we go further and join the war and we win, then we have won for Stalin the grip of communism on Russia.... Again I say, if we join the war and Stalin wins, we have aided him to impose more communism on Europe and the world. At least we could not with such a bedfellow say to our sons that by making the supreme sacrifice, they are restoring freedom to the world. War alongside Stalin to impose freedom is more than a travesty. It is a tragedy."
Until the world's largest counterfeiting outfit of thieves, the Federal Reserve is abolished and those "Too Big to Fail" Wall Street Casinos are broken into a 1,000 pieces and thrown to the wind, we will NOT recover from this economic nightmare, in fact, it will keep getting worse.
What’s the last thing you want to see circling around a bank these days? I mean, other than, like, Ken Lewis’ resume or something? Probably vultures. But, in downtown Orlando, they’ve cozied up to the Suntrust building (shown above) and also to 55 West, a nearby project that was built to be luxury condos but repurposed as apartments, which remain mostly vacant; A bad portent for the banking industry and for multifamily real estate?
Economic Collapse Update: Acceleration In Autumn by Giordano BrunoThe article by Giordano Bruno pretty well nails it and I highly recommend taking a few minutes to read his intelligent truths.
Our current economy is a shell game. A grand fraud designed to siphon more and more tangible wealth (not fiat wealth) from the average person and transport it post-haste into the silk lined pockets of a corporate banking minority. The goal? To reduce the self sufficiency of American citizens to the point of total fiscal and social dependence on the top 1% richest men in the world. Conspiracy theory? Not in the slightest. Just a cold hard fact of history. “Feudalism” is, sadly, rampant in the annals of human culture. Anyone who believes that our modern era is somehow different is simply fooling themselves. Elitists seek power over others, they always have and they always will, and, the most efficient way to gain control over the lives of the masses is through engineered imbalances in economy.
Every time you hear the term “bailout”, or “quantitative easing”, just think “wealth transference”. Every dollar that is printed from thin air by the private Federal Reserve and handed to a globalist entity like Goldman Sachs or AIG through our Treasury represents yet another dollar of debt (and another percentage of interest) that you, the U.S. taxpayer, and your children, are expected to eventually pay for without ever seeing any benefits. Right now, at this very moment, you and your descendents for generations to come are being enslaved by forcefully imposed usury. Our country has been “volunteered” for a financial debasement on a scale that dwarfs the Great Depression or even the Weimar catastrophe. We ignore this reality at our peril....
To date, 126 FDIC insured banks have failed: Listing of which ones
Good news for all you folks who have $250,000 in the bank: FDIC Insurance Limit Permanently Increased
Does this sound like the recession is over? I know, let's blame it on those damned unions and that commie pinko 'luberal' media!
#1 The United States has lost approximately 42,400 factories since 2001. About 75 percent of those factories employed over 500 people when they were still in operation.
#2 Dell Inc., one of America’s largest manufacturers of computers, has announced plans to dramatically expand its operations in China with an investment of over $100 billion over the next decade.
#3 Dell has announced that it will be closing its last large U.S. manufacturing facility in Winston-Salem, North Carolina in November. Approximately 900 jobs will be lost.
#4 In 2008, 1.2 billion cellphones were sold worldwide. So how many of them were manufactured inside the United States? Zero.
#5 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.
#6 As of the end of July, the U.S. trade deficit with China had risen 18 percent compared to the same time period a year ago.
#7 The United States has lost a total of about 5.5 million manufacturing jobs since October 2000.
#8 According to Tax Notes, between 1999 and 2008 employment at the foreign affiliates of U.S. parent companies increased an astounding 30 percent to 10.1 million. During that exact same time period, U.S. employment at American multinational corporations declined 8 percent to 21.1 million.
#9 In 1959, manufacturing represented 28 percent of U.S. economic output. In 2008, it represented 11.5 percent.
#10 Ford Motor Company recently announced the closure of a factory that produces the Ford Ranger in St. Paul, Minnesota. Approximately 750 good paying middle class jobs are going to be lost because making Ford Rangers in Minnesota does not fit in with Ford’s new “global” manufacturing strategy.
#11 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time less than 12 million Americans were employed in manufacturing was in 1941.
#12 In the United States today, consumption accounts for 70 percent of GDP. Of this 70 percent, over half is spent on services.
#13 The United States has lost a whopping 32 percent of its manufacturing jobs since the year 2000.
#14 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.
#15 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
#16 Printed circuit boards are used in tens of thousands of different products. Asia now produces 84 percent of them worldwide.
#17 The United States spends approximately $3.90 on Chinese goods for every $1 that the Chinese spend on goods from the United States.
#18 One prominent economist is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040.
#19 The U.S. Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in the 51 years that records have been kept.
H/T to the Beulahman Blog.