Monday, February 2, 2015

Week of 02/02/2015

“Boomerang Buyers” Should Just Say “No”
So the economy is supposedly waiting with baited breath for the “boomerangs”.
“Boomerangs?” you ask.
Well, the official term is “Boomerang Buyers”, but you may remember them when they were simply “The Forsaken”.
You know all of those millions of hard-working Americans that lost their homes through the criminal manipulations of those “Too Big to Fail” banks?  Well, it’s been seven years since the first wave of those foreclosed homeowners were unceremoniously kicked to the curb.  Hard to believe it’s been seven years, but it’s true. 
And now the credit slate is starting to be wiped clean for them, giving them a new opportunity to try, try, try again.
The timing certainly couldn’t be any better.  Despite the optimism heard in the media, the economy has been struggling to keep moving.  Big Corporate is firing off layoffs, retail stores are shutting down, gas prices and oil prices have been taking a nose-dive, and the 99% of the populace are doing everything they can just to tread water, and even that’s a losing struggle.
So, yeah, the reports of a new batch of “boomerang buyers” looking to get back into the housing market is a needed shot-in-the-arm for the economic world.
And yet, I really hope that these “boomerang buyers” don’t do it.
That’s right, you heard me.  I really don’t want these “boomerang buyers” – the people that were foreclosed upon seven years ago – to go back into the market for a house.
First of all, here’s a little economic reality: every time there is an economic downturn, the average American – in other words the 99% that have to work for a living and cannot afford to have K-Street and C-Street lobbyists on speed-dial – ends up with even less available money than they had before the downturn.  People that were laid off do not get new jobs that pay the same or even more than their previous jobs.  They get less.  That’s less income.  Less available money to spend.  And most people have had to tap into savings, and hope they still had a 401K after the “Too Big to Fail” banks and the rest of the Wall Street criminals screwed everyone over.
Unless you won the lottery during that time, or became a social media sensation, you just don’t have the same amount of money that you did before getting foreclosed upon.  So… how are you going to afford a new home?
Remember how many of those Forsaken Americans lost their homes in the first place?  They were talked into getting subprime mortgages with ballooning rates that priced them right into foreclosure.  Are you really that dumb that you’ll make the same mistake twice?  The banks and the realtors certainly hope that you are!  They’re betting the economy that you’ll be as smart as a box of rocks just so they can make even more money off you!
Of course not all of the Forsaken Americans lost their homes because of ballooning interest payments and slight-of-hand trickery by criminal bankers.  Some of them lost their homes through no fault of their own.  Because banks shuffled around the loans like they were trading cards, passing them from lender to lender, and if a payment was lost in the shuffle, then too bad.  Now, if you were one of those Forsaken Americans that were victimized by this particular screwjob, why the hell would you want to roll the dice again?  What stops the lenders from doing it to you all over again?
That’s probably the biggest reason why nobody should ever trust these criminal bankers ever again.  Because let’s get brutally honest here… the only thing that changed with them is the calendar date!  The only lessons that they “learned” is that they can get away with their criminal activities if they just give the federal government some mealy-mouthed promises and some pocket-change for a fine.
And what did the Forsaken Americans get while the banks got bailed out?  The Forsaken Americans, the hard-working Americans that got screwed over by the criminal bankers, got written off as being “deadbeats” and “losers” and ridiculed live on CNBC as they were being kicked to the curb and their stuff thrown out into the middle of the street.  They were literally forsaken by the institutions – public and private – that fraudulently “claimed” to be on our side!
These are the people that the banks and the realtors are starting to come back to and saying “It’s been seven years; all is forgiven.  Let’s get you in a house again!”
And I really wish the Forsaken Americans, those supposed soon-to-be “Boomerang Buyers”, would turn to those criminal bankers and slap them all in their smug faces and spit on those offers.  It is the absolute least that they deserve for the crap that they pulled on the rest of the nation!
I know that there were many factors involved with the Great Recession, but the subprime mortgage scam was the lynchpin for the whole fiscal house of cards.  And that only came about because of a blatantly-manufactured “need” to put people in homes at all costs.  Just make more homes and put people in them.  Everyone “needed” to own a home!  Funny how that “need” immediately evaporated when the banks decided to go on a foreclosure fetish.
Look, I’m not saying that people should stop buying houses.  I’m saying that if you can’t afford to, then don’t. 
Say “no” to the criminal banks and their promises to “find a way”.  Say “no” to the tax preparer that tries to convince you that you “need” to buy a house just so they can add that to your tax form next year, or the nosy neighbor that thinks that getting a pay raise means you “need” a new home.  Say “no” to the goddamned script that convinces us that our economic survival rests in how many homes are built and sold.
The hard-working Americans that have been forsaken by both the criminal banks and our incompetent government have had seven years to figure out how to survive without owning a home and being owned by a mortgage.  They’ve seen how the goddamned script is a lie.  It’s high time that the rest of the country figure that out as well.
“Boomerang Buyers”?  Just another word for a damned fool.

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