Debt Rattle July 28 2020
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Dorothea Lange Migrant cotton picker’s children, live in government tent, Shafter Camp, CA 1938 • Barr To Come Out Swinging In House Testimony
[See the full post at: Debt Rattle July 28 2020]Can we stop calling Mrs Baraitser “judge?” She clearly isn’t one because she is incapable of remaining impartial and is therefore obliged by law to recuse herself. Since she does not she is in contempt of her own court and must be disbarred. A jail sentence is also a possibility.
The GOP bill apparently does NOT mention evictions or a continuation of the evictions moratorium at all.
Also, no relief for small landlords, who are trying to maintain properties without any rental income for the last several months. Now they can evict, but good luck finding new tenants when there are no jobs for anyone who might be otherwise interested in renting. The major landlords, who hold thousands of rental units apiece, however, and who are mostly affiliated with hedge funds and big banks, have made a killing on covid relief funds. The big banks alone have gotten over $8 trillion during this timeframe.
Also, no-one has brought up home foreclosures, which I find odd. There is little or no data available because no-one is looking at it, but one should wonder how many people are now facing foreclosure on homes they own because they cannot make mortgage payments.
Good opportunity for Blackrock (now in charge of the coronavirus SBA and PPP relief funds) to take over a whole bunch more of the rental units in the US. Good opportunity for the big banks to take back a lot of homes through foreclosure, and then be made whole via the Fed buying all the bad paper, which just makes sure the banks suffer no loss.
Of course, these results are obviously intended. This is shock doctrine/disaster capitalism being carried out on the US population.
What the GOP proposal also does not include:
any money to help state governments with their shortfalls
any increase in food stamp funding
any expansion of Medicaid fundingWhat the GOP proposal does include:
$16 billion for increased Covid testing (Trump objects to that – he wanted no new funding for testing and tracing)
$2 billion for F-35s
$1.75 billion for an FBI building
$1 billion for surveillance planes
$375 million for armored vehicles
$360 million for missile defense
$283 million for Apache helicopters
$20 billion for farmers (yeah, more farm bailout for the farmers who have been bailed out 3 times already thanks to Trump’s tariff wars – how much have they gotten already? Somewhere north of $75 billion is the number to date, if I recall correctly, not including this latest tranche.)
$30 billion to the Pentagon (to help US military contractors “retain key skilled workers”, as though the contractors haven’t been grossly overpaid for the past 30 years). This additional money to Pentagon funding comes just a week after Congress voted to fund the Pentagon to the tune of 3/4 of a trillion bucks for next year.
Also included: a business tax deduction – at 100% deductibility – for business meals. Because what is a Congressional bill without some egregious tax cut for big business?Now the two parties of both houses will work together – in a bipartisan effort, natch – to come up with a bill that does as little as possible to help anyone who isn’t already independently wealthy. The Democrats like to take their constituents out to a nice little movie first (preferably a romantic comedy with no bad words in it) and at the end of the date, they rape you. The Republicans don’t want to spring for a movie and popcorn – they just hit you over the head and rape you with no foreplay.
The Democrats like to take their constituents out to a nice little movie first (preferably a romantic comedy with no bad words in it) and at the end of the date, they rape you. The Republicans don’t want to spring for a movie and popcorn – they just hit you over the head and rape you with no foreplay.
Well said, teri, well said. 🙂
One thing that guy in the “reality will win” article about Covid-19 neglected to mention is that a lot of people who had severe cases of Covid-19 are still suffering with various serious afflictions even months after they have supposedly recovered. I know the crackpot-right will cling to the “It’s Just A Flu, Bro” narrative until the bitter end, but if you watch Chris Martenson’s video series on Covid-19 on his “Peak Prosperity” website, it’s painfully obvious that it’s not “Just A Flu.”
Some useful pandemic perspective can be read in this article from New York Magazine: Death cult: Why has the Republican response to the pandemic been so mind-bogglingly disastrous?
For now, foreclosures remain rare. The Coronavirus Aid, Relief and Security Act requires mortgage giants Fannie Mae and Freddie Mac, the Federal Housing Administration and the Department of Veterans Affairs to let borrowers miss up to a year of payments without penalty. Those mortgage relief initiatives are mandated by federal law, but lenders also have voluntarily extended forbearance to more than a million borrowers with jumbo loans and other types of mortgages not backed by the federal government.
https://www.bankrate.com/mortgages/housing-hardship-index/
Temporary Mortgage Relief Due to Coronavirus Pandemic
In response to the coronavirus pandemic, under the CARES Act, the owners of single-family homes with federally-backed mortgages can get two types of financial help.
Eviction and Foreclosure Moratorium
An eviction and foreclosure moratorium that went into effect on March 18, 2020, has been extended again. It now continues until August 31, 2020. During that time, homeowners:
Will not be charged late fees
Will not be evicted from their homes
Lenders:
Will not initiate foreclosure proceedings
Will suspend foreclosure proceedings already in processMortgage Forbearance
Federally-backed home loans can get six months of mortgage help. Federal Housing Administration (FHA) reverse mortgages are eligible too.
If you’re having trouble making payments because of the coronavirus pandemic, your loan servicer must:
Defer or reduce your payments for six months if you contact your loan servicer to make arrangements
Give you another six months of mortgage relief at your request
Offer options for how you can make up the deferred or reduced payments. They will discuss these options with you at the end of your forbearance period.
Make sure you know your rights before you contact your loan servicer. Read this consumer relief guide to mortgage payment forbearance and foreclosure protection under the Federal CARES Act…
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