The Race Is On

The Race Is On

You’ve been told that this is a “subprime” mortgage crisis.

Do you understand the difference between a “subprime” and a “prime” mortgage crisis?  You’d better bone up on the difference:

At this point there is a race on between the deviant global financial elites posing as “investment houses” who are borrowing trillions of dollars basically for free and the rest of us who are paying usurious rates on a relentlessly growing debt load which we cannot service.  The race is simple:  Who gets to buy up all the bankruptcy assets?  Right now, the enemy is buying them up for pennies on the dollar and more are coming on the market all the time as money is withheld from the citizenry, causing a continuing cascade of bankruptcies.

Compare the above graph to this graph of the subprime foreclosure history and you’ll notice prime loan foreclosures are now where subprime foreclosures were just prior to 2005:

Posted by James Bowery on Thursday, August 27, 2009

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