Monday, August 20, 2007

The Mortgage Zombies Are At Your Door

As I write this, Capital One Financial is laying off almost 2,000 employees, and is shuttering it's wholesale mortgage banking business. Mortgage and loan outfits are dropping like flies, and homeowners who have tried to turn their houses into money machines are now sweating like southerners in a spelling bee. This game of financial musical chairs is about to end, and the scarcity of seats is horrifying. The music has stopped, and the scrambling has begun. The wet bottom of the cardboard box has finally caved in.

Does this crisis in the mortgage sector spill over into other sectors? Of course, it does. The housing bubble bursting will surely cause the interest bubble to burst as well. This elevator from hell goes all the way to the top, and thus, the Fed and European central banks have forked over at least $200 billion to stave off the worst before those at the top of this pyramid scheme can consolidate their interests and protect themselves from the crunch. This injection of liquidity will not save the common homeowner, nor will it keep mortgage outfits from going under. The weight of spiraling debt is too much to bear, and the center cannot hold.

Is this all by design, the suspicious conspiracy theorist asks? Common sense dictates that it is obviously staged, as an economy cannot survive bubble-by-bubble. If the financial movers and shakers don't know this, then no one does. And, of course, they've known it all along. The economic motivation is in the massive consolidation of power and wholesale accumulation of assets for pennies on the dollar. However, there is a political motivation as well. A crashing of the economy will create enough desperation among the masses that a radical change in geopolitical governance will be tolerated in exchange for the promise of an economic solution. Thus, the North American Union and the Amero will arrive as our savior. Don't think so? This continental consolidation is as big a step towards new world order globalisation as the European Union, and the commitment towards it is becoming apparent. Just keep watching as it unfolds, and get ready to start calling yourself a North American.


Blogger Big Daddy Malcontent said...

"When the streets of Paris run with blood, I buy."

Nathaniel de Rothschild

3:24 PM  
Blogger Pissedoffcabbie said...

“Give me control of a nation's money and I care not who
makes her laws”

Mayer Amschel Rothschild

11:03 PM  
Blogger John said...

Our house prices are way out of control Young people getting 40 year mortgages.look at
Houses in Boston are way cheaper.
The way the media in the US keeps the people scared and insecure shocked me.
Like the magician pointing one way while he pockets the gold with the other hand.
Is McCarthy still alive and well?

5:48 PM  

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