02.12.08

Throwing Rope on Floating Bodies

Posted in Old Posts at 11:04 pm by Administrator

Screams and cries filled the air, as 1,500 passengers floated in the freezing water. As the cries continued, the survivors sat in lifeboats. Only a few wanted to go back for more people. Most of them thought the lifeboats would get “swamped” if they went back. After time, the cries died down and there came a deadly silence. At 3:30 am, rockets were sighted. These were from the rescue ship, the Carpathia. The first lifeboat is picked up at 4:10 and the last one is picked up at 8:30. At 8:50, the Carpathia heads for New York. She arrives at New York on April 18 at 9:00 pm. She carried 705 survivors.

- Web Titanic by Karl Metelko www.webtitanic.com

And so as the freezing waters slowly froze the bodies of the unfortunate souls, then bloated, floated and eaten by the ocean life of the North Atlantic. The reason this analogy is so pertinent is this news story from today “US Announces Plan to Delay Foreclosures” which does nothing, absolutely nothing (as Kwazy Cramer likes to say) about the solvency issue of the banksters. This “plan” only buys time for the mega wealthy to divert their cash out of the losers and into the winners as the political instability which results in two million people being thrown out into the streets grows daily. The problem, as it always has been, quite simple.

First, unemployed people can not pay for homes no matter the price. Guess that outsourcing idea for our manufacturing base didn’t git-er-dun eh what Kudlow?

Second, if a home needs a refinancing agreement and the borrower got a mortgage for oh, say $525,000 but the assessed value this week is $275,000 then just where oh where are the homeowners going to come up with $250,000 to cover the difference? Better yet, I’m dying to see the happy, happy face put on freezing the rates even though valuations will continue to plummet in most markets. Heck, if I were facing the situation described in the news story above, I would stop paying on my home, stall in negotiations, hoard cash and run for it. Because one thing is obvious:

The abrogation of private party contracts through government coercion is now not only legal, but encouraged.

Which is quite obvious since the banksters can steal you blind via stock or securities fraud and walk away unpunished but if you breech a contract, well, it’s jail time for you sparky.

So as the banksters through rope with life preservers at the end on the lifeless bodies floating in the freezing North Atlantic Mortgage Waters, this stall will only accelerate the situation, not change the ultimate ending.

I’m just wondering what’s next; will we literally begin dropping money from military transports over the cities of America to keep the riots from breaking out.

Or will we just make sure everyone is fat, dumb, drunk and happy when they go to the polls by passing out free booze to everyone before they vote. Sounds like a great job for the unemployed illegals, passing out tequila shots to kill the pain of voting for the bunch of losers on this year’s ballot while dealing with an economic disaster unseen in our history.

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