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Forum Post: Early 21st Century Slavery

Posted 1 year ago on Aug. 1, 2020, 6 p.m. EST by agkaiser (2515) from Fredericksburg, TX
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The mortgage holders, including small time landlords with a few rentals, thought they would one day really own their homes. Corona Virus wreaked economic havoc on the middle class and renters who supported the petty rentiers that owned the homes that the working poor lived in. The conservatives in government refused to appropriate the money or do anything to help Americans keep the housing, rented or "owned," from being taken by foreclosure.

At the same time the banks and other financial parasites could borrow as much as needed from the FED at low to no interest and use it to buy the foreclosed homes. Anyone could have predicted the outcome but no one with a voice that can be heard did so in 2020, when we all went down. All downed but the Wall St. Oligarchs and bankers that is.

The saddest story is the children of the poor who descended to homelessness. But the most tragic is the libertarian wannabe entrepreneur landlords who managed to evict them and then lost their properties anyway because there was no one to rent them and keep up the mortgage payments. Those losers probably never connected the works of Trump, McConnell and Mnuchin to their losses and still believe Republicans and other conservative/libertarians serve their interests, not just those of the rich parasites that bought the foreclosed land and houses.

And that's how slavery of the majority was accomplished in Trump's America. Now we do what we're told by the Wall St Oligarchs, if we want a place to live and food to eat. The majority still don't realize that we're slaves. Many of them are still good Republicans, even though governments and the outcome of elections have become irrelevant.




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[-] 3 points by beautifulworld (23590) 1 year ago

The high cost of higher education is another way they are able to take people's homes.

They "bank" on parents loving their children and having the dream of sending them to schools that are, today, way way unaffordable, reaching $65k per year in some cases.

Yes, there is some financial aid given, some student loans (debt) given to the student, some parent federal loans (more debt).

But, for these ultra expensive schools, there is simply not enough "aid" and student loan debt to cover the costs, so what do they "bank" on parents doing?

They "bank" on them tapping their number 1 resource, their homes.

They know parents will take out second mortgages or lines of credit against their homes to fulfill the dreams they have for their children, and just like that, bingo, they've lost huge chunks of their homes' equity.

This is not a coincidence. This is a planned transfer of wealth and it's criminal.

[-] 2 points by ImNotMe (1488) 1 year ago

NB: To Cancel Student Debt ... You Don’t Need Congress! (by Alexis Goldstein)

dum spiro, spero ...

[-] 1 points by beautifulworld (23590) 1 year ago

Biden says he'll cancel student debt for those who attended public colleges and $10k for everyone else.

Cancelling student debt would be a boon to the economy while improving the lives of millions.

"...the rest of the 2020 field would do well to join Warren in a commitment to Day 1 executive action on student debt. It would bring immediate relief to the 5.2 million borrowers in default on their student loans. It would help the debtors putting off having families or delaying buying a home due to excess student debt. But it would also boost the economy for everyone. Moody’s Investor Service found that cancelling student debt would have a “tax-cut like boost to the economy.” And a Levy Institute report found that wide–scale student debt cancellation could boost GDP by up to $108 billion per year, and add up to 1.5 million jobs per year, both over a 10-year period.

[-] 2 points by agkaiser (2515) from Fredericksburg, TX 1 year ago

concentration of wealth in any way they can is what conservatives are all about. There's no honesty or sincerity in them. Conservatism is andhas been since the invention of civilization the greatest threat to human survival.

[-] 0 points by grapes (5232) 1 year ago

National Association banks have the licenses to countercounterfeit: "made in exact imitation of something valuable or important with the intention to deceivedeceive or defrauddefraud." Every borrower or lender of feral re-serf no'es is playing the musical chair game.

I used to play the kiss-for-favor game with my offspring. They had the power of the [Non-]us [Non-]feral [No-]serve.