It never ceases to amaze me how people whom continue to do the same thing, every time, and expect different results. The murder of George Floyd is the epitome of that statement. For decades, the white washing — pun intended — of the US militarized police force and its continued brutality has been the norm. Regardless of what political flavor the violence has been executed from, it has always been the same — acquittal. And in the case of the extrajudicial execution of Mr Floyd, he became the Archduke Franz Ferdinand of the 21st Century. And just like in Austria, the US today is a hotbed for agitation. Right or wrong, history repeats itself. Take, for example, Dr Martin Luther King Jr’s speech, “The Other America,” from 1953. King had this to say,
I think America must see that riots do not develop out of thin air. In the final analysis, the riot is the language of the unheard. What is it that America has failed to hear?,” King questions. “In a sense, our nation’s summers of riots are caused by our winter’s delay. And as long as America postpones justice, we stand in the position of having these occurrences of riots and violence over and over again. Social justice and progress are the absolute guarantors of riot prevention.
That was 53 years ago — Fifty Three Winters ago to be precise. And with that said, there is no magic bullet to stay inequity. There is no Blue Ribbon Panel to convene wherein we will be capable of divining some formula to sprinkle out to the masses. In fact, the cure, ironically, is as fleeting as that for COVID — hot air spread across the ether to prop up President Trump’s cronies and their stock valuations. And had COVID not came like a pestilence and hung its shadow over the Beltway; had not people been forced into a quarantine and handed a paltry $1,200 — if you held a bank account — while President Trump’s cronies were awarded nearly $12 trillion since 15 September 2019, had everyone sat at the table, it might not have been as bad. Let me break that number down for you in a way that only a professional such as myself is capable of doing,
Anyone whom tells you that the COVID pandemic was the trigger for margin calls within both financial institutions and non bank servicing hedge funds alike is full of shit. From September, 2019, through January 2020, the Federal Reserve pumped out $215 Billion a day in nearly zero percent interest loans to keep the casino running. The grand total of the Fed Chairman Jerome Powell’s conjuring money out of thin air came to a combined total of over SIX TRILLION DOLLARS in less than four months.
And you need to remember, that since adding $4.5 Trillion to the Federal Reserve’s books because of their Pro Trump pals whom unwound the economy in 2008, the Fed has since then only shed $750 Billion off their books. These are books that, in essence, do not exists because this money is conjured — literally — out of thin air. Today, the Fed’s books are sitting about $7.04 Trillion in toxic and exotic debt. That is nearly ONE THIRD of the American Economy!
The concept of magically creating money is admitted by none other than the Federal Reserve’s Chairman, Jay Powell. Here is an excerpt from 60 Minutes,
SCOTT PELLEY: Fair to say you simply flooded the system with money?
JAY POWELL: Yes. We did. That’s another way to think about it. We did.
PELLEY: Where does it come from? Do you just print it?
POWELL: We print it digitally. So as a central bank, we have the ability to create money digitally.
By in large, the vast majority of Americans — and I would surmise almost all Residents of Earth that third rock from the Sun — have had it. They know that no matter what they do they are going to get fucked swiftly and deeply in every orifice they have and new ones will additionally be carved out to fuck. Money is flowing EVERYWHERE except where it needs to go! Here is how ProPublica put it about the latest round of Trumpian Trough Feeding (TTF) for Personal Protective Equipment (PPE) contracts,
A firm set up by a former telemarketer who once settled federal fraud charges for $2.7 million. A vodka distributor accused in a pending lawsuit of overstating its projected sales. An aspiring weapons dealer operating out of a single-family home.
These three privately held companies are part of the new medical supply chain, offered a total of almost $74 million by the federal government to find and rapidly deliver vital protective equipment and COVID-19 testing supplies across the U.S.
And a final footnote on this: You have 40 Million Americans currently unemployed. 10 Million of those jobs are anticipated to never return according to the a recent Bloomberg Radio interview. And that 40 Million jobless number is misleading. First, not everyone has even been able to file their paperwork. Second, states like Florida and California only report their numbers twice a month. The end of COVID level unemployment payments is coming in a matter of weeks in most states. You have 100,000+ dead in the US alone. And the stocks continue to soar. This is because the investors — code word for the 1% — have an open account to borrow money at less than a quarter of a percent while charging Main Street mid twenty percent levels on their credit cards.
The Moratoriums are lifting. On 30 June 2020 the foreclosures begin in earnest. In fact, the filings began on Memorial Day in New York according to their Supreme Court,
On May 20, 2020, Chief Administrative Judge Marks issued Administrative Order 111/2020 announcing that e-filing through the NYSCEF system, including the filing of new non-essential matters, will be restored state-wide as of May 25, 2020, including in regions that have not yet re-opened. This will allow for filings in pre-existing eviction and foreclosure matters [… .]
And remember how we broke down the numbers on whom gets to take a break from paying their mortgages without penalty and whom doesn’t? Yeah, that 60/40 spread is wherein only 40 percent of mortgages are covered under the federal government’s no party no foul rule. Those other 60 percent of mortgages are estimated, according to Amherst Mortgage, to equate roughly 15 MILLION defaults! And we are not even talking about the estimated 22 Million evictions predicted by and through renter’s inability to pay. And those filings will begin on 30 June 2020. Here is why,
When you cannot afford to pay your bills now, of which a mortgage is generally the largest, there is no way in hell that you can pay four months’ worth of mortgage plus that month’s mortgage. There is no amount of Trump rallying which will pump the cash necessary into the pockets of consumers and allow them to make ends meet let alone even buy a loaf of bread.
As opposed to all other periods of civil unrest we have experienced — short of maybe the Civil War — we have never experienced a Crisis like this. You have people locked inside of massive high rise public housing complexes sweltering in the heat. You have an entire nation locked down with nothing but time on their hands pondering — ney, dwelling upon — inequality. You have Gestapo like law enforcement targeting minority men and women for extrajudicial execution and doing such LIVE on those same media platforms that people in the sweltering high rises are watching day in and day out. Making things even worse, those same Gestapo Jack Booted Thugs are now murdering innocent victims assembled to Petition For Redress of Grievances and arresting and shooting those whom dare report on it — once again, LIVE! And finally, you have an impotent White House whom — only for avarice and political expediency — signed the death warrant of tens of thousands of Americans.
And if we look at our Nation as a macrocosm, we need to look at the Mortgage Field Services Industry and the National Association of Mortgage Field Services (NAMFS) as the microcosm. NAMFS and its membership remained tone deaf to the COVID crisis even as Foreclosurepedia continued to report upon their deafening silence up and through our article at the beginning of March located here. It was a veritable shit show. And because NAMFS categorically refuses to to protect the Industry’s Essential Workers — let alone ensure that they are even paid — the reality is that working in the Industry is now, more than ever, a potential death sentence.
Not a single alert has been issued about the Floyd Riots to Labor in the Industry other than from Foreclosurepedia and the International Association of Field Service Technicians (IAFST). The working theory appears to be that if COVID didn’t kill them they can survive the riots. Make that dollar, crack that whip, chargeback, chargeback, chargeback. And for an Industry that specifically targeted Minority Females and Labor with calculated fraud it comes as no surprise. In closing, if anyone thinks it will get any better anytime soon, send me some of that dope you are smoking. With the biggest hurricane season in history lining up, it is going to be an #EpicFail for quite sometime to come!