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Honored Social Butterfly

Shelter From the Storm? FAT CHANCE!

Some may recall my mentioning the Corporate Oligarchs were driving to make the bottom 90% of Americans totally dependent on their employer for all their needs, removing the inconvenient squabbling over wages and working conditions. Well, tRumpvid20 is giving that a serious boost in the area of our need for shelter.

 

During and after the Republican deregulation caused the housing markets to collapse sending the World into a financial disaster, the money Wall Street made with their predatory lending was applied to buying millions of foreclosed homes. Instead of flipping them when the housing market recovered, the Oligarchs kept them as rentals, and created a NEW financial device to redistribute income and wealth from the bottom 90% to the top 1%.

 

The device is the RENT Based Security, just like the Mortgage Based Securities that drove our economy into the worst decline since the Great Depression, but BETTER.

 

The Corporate Oligarchs didn't "pay cash" for those millions of homes, they borrowed money - got a mortgage -which was easy for them as they'd already bought up the banks their previous "invention" - the MBS had driven into bankruptcy.

 

This act both soaked up all the available mortgage money preventing the 8 Million American families that were driven from their homes by the pre-2007 predatory lending from buying another home, and created 8 million "new" renters and 8 million more shattered American Dreams.

 

The RBS are much superior to the MBS because while it is very difficult to foreclose on a mortgage and resell the home, it is insanely easy to throw out a tenant and find a new renter. While the MBS failed because people stopped paying the mortgage, drying up the cash stream, the RBS keeps the cash flowing, making them a MUCH safer investment for the Oligarchs, and has already caused EVICTIONS to skyrocket - last April, number of evictions were 130% of evictions in April 2019.

 

All those people who cannot make rent payments because tRumpvid20 cost them their jobs were NOT given "forgiveness" for their rent the last THREE MONTHS, they were just protected from EVICTION until the end of July.

 

Guess what? JULY IS OVER! On 1 August, OVER 10 million families will begin to be evicted from their homes, and just about everyone else will have their rent INCREASED.

 

The additional $600/week in unemployment insurance supplement is what kept this from happening months ago, and Republicans are refusing to renew the payments BECAUSE ITS SLOWING DOWN THE EVICTION PROCESS AND THAT SLOWS THE CASH FLOW FOR THE RBS!

 

Make no mistake, Republican refusal to continue the income subsidy at a level that will keep the bottom 90% in their rentals has nothing to do with "fiscal conservatism" or "preventing people from going back to work". It's 100% to support those Corporate Oligarchs who are seeking total control over the economic lives of 90% of Americans.

 

 

 

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