Tag Archive for foreclosure filings since 2007 housing bubble bursting and 2008 economic collapse

This is What Fascism Brings…

Total foreclosure filings since the housing bubble burst in 2007 15,032,158 [1]. These were not just sub-prime mortgages that were written to fail but were also people who had lost their jobs since 2007 and had the prinicple of their mortgages exceed the market value of their homes when housing prices dropped, due to the market being saturated,, so they could not sell them to get out from under the mortgages. At the height of the housing bubble, in June 2007, employment was at 138,779,000, employment bottomed out in January 2010 at 127,309,000 for a net total loss of 11,470,000 [2] due to the housing bubble bursting and the subprime market collapsing and the economy crashing. That is 11.5 million jobs lost due to the same type of governance that caused the Great Depression, Laissez-Faire or hands off governance has never worked. When the Clinton administration ended, the number of people living under the poverty level was abour 31 million people the Bush administration saw an ever increasing number of people living below the poverty level with a little plateau during the housing bubble but when that burst and the economy crashed the number of people living under the poverty level sky rocketed with about 12 million people sliding down during the 8 Bush fiscal years. Because the Republicans have done nothing to help the economy grow jobs and have done everything they could to tank the economy again for purely partisan reasons the poverty level, 46.2 million people, is now the highest it has been in over 70 years, with one in four children living under the poverty level. [3]

This is what fascism brings when the Government is basically merged with and doing the bidding of the Corporations. This is what fascism brings after two unfunded wars and two very expensive but pitifully run attempts at nation building. This is what fascism brings when it cannot outright ban unions so it disbands a large federal employees union to give corporations the green light to break union contracts and close union shops. This is what fascism brings when it pays corporations to ship whole plants overseas in the vain attempt to stifle all unions, the main strength of their political rivals. This is what fascism brings when giving tax breaks to those who do not need them while ignoring the needs of the people. This is what fascism brings when the government does not ask the people who benefit the most from those unfunded wars to help pay for them, instead putting the burden on the already overburdened lower 99% (the first time during times of War in American history that the wealthy have not been asked to pay in more). Bush doubled the debt of all administrations before him and lost a net 1.8 million jobs. America does not have a debt problem, it has a lack of jobs that pay living wages problem, you know that problem the Republican’ts ran on in 2010 saying they knew how to fix but have done nothing to that effect at all…

When you have all the Congress people of one political persuasion swearing fealty to a policy that never was, before swearing loyalty to our Constitution, these people should never have been seated in Congress. Grover Norquist claimed Reagan gave many tax cuts to the 1%, never raised taxes on the 1% and still created jobs which is a outright lie. Governor Reagan of California, after messing up the budget there, signed into law the largest tax increase in the history of any state up till then. President Reagan, in his first year, gave a mammoth tax cut to the 1% for their help in getting him elected. It blew a hole in the federal budget so big that Reagan spent 7 years and 9 tax hikes to try to repair the budget. Reagan tripled the debt of all the admministrations before him. Grover Norquist is an idiot who should be made to diet until he is small enough to be drowned in a bathtub and anyone who believes selfishness is a virture (a la Ayn Rand) should be made to follow Norquist.

[1] http://en.wikipedia.org/wiki/Timeline_of_the_United_States_housing_bubble

[2] ftp://ftp.bls.gov/pub/suppl/empsit.compaeu.txt

[3] http://www.census.gov/hhes/www/poverty/data/incpovhlth/2010/figure4.pdf