Prices are going up. Unemployment is continue to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.
Related quotes
Faith is the black person's federal reserve system.
quote by Hattie McDaniel
Submitted by Lucian Velea
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We have 1.8 million Americans behind bars today at Local, State and Federal level. In the federal system, which has doubled in the last ten years, over 110,000 people behind bars in the Federal system, probably two-thirds are there for drug related reason.
quote by Barry McCaffrey
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There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.
quote by Robert C. Solomon
Submitted by Lucian Velea
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Life in Paradise: 21st Century Style
2000-2001
The “dot com” bubble bursts
Recession
9/11/2001
America attacked!
Our way of life is threatened
Fear sets in
Financial institutions vulnerable!
Economy in a nose dive
What to do?
Everybody fly the flag from your home.
Save housing - Save the economy!
First, everybody needs a home.
The madness begins.
2002-2003
Create laws to increase minority homeownership
California gives birth to the ARMs* and NINJA** loans
Accounting irregularities at Fannie Mae (FNMA) & Freddie Mac (FDMAC) ***
Doors open for Wall Street to invest in Main Street
Without those pesky government regulations
Homeownership increases
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”…
WARNING! WARNING! DANGER! DANGER!
AREN”T HOME PRICES INCREASING FASTER THAN INCOME?
…...“No problem; it only takes a little creative mortgage financing and Wall St loves those high yielding mortgages…..
HIGHER RISK - HIGHER YIELD!
Pension funds love high yield.
Buy more and more....
…...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”…..
WARNING! WARNING! DANGER! DANGER!
AREN”T PENSION FUNDS ONLY ALLOWED TO BUY AAA RATED INVESTMENTS?
...“Problem solved...banks pay the salaries at the Rating Agencies and Ratings Agencies in turn lower the standards to obtain a AAA rating”...
WARNING! WARNING! DANGER! DANGER!
WHO’S WATCHING THE “HEN HOUSE” WHO’S MINDING THE STORE?
...“Who cares?
Everyone is happy
Millions of new jobs created
Millions of new homeowners
Millions of dollars for bankers
Millions of dollars for Wall St
And everyone owns a home on Main St
Money is flowing
Everyone wins! ”…
WARNING! WARNING! DANGER! DANGER!
AREN”T HOMES BECOMING LESS AFFORDABLE?
2004 -2005
...“Pressure Government to create more creative loans and even lower down payments with even higher yields and make more bucks”…
A new mortgage is born, Euphemism: THE PAY OPTION NEGATIVE AM ARM Loan
...Easy to sell… You chose your own payment! You chose your interest rate! ...
WILL WALL ST BUY THESE LOANS?
….“You bet! Wall St loves these high yield mortgages. They package these loans as CDOs***** and sell them to Pension Funds, Municipalities, Foreign Governments etc
Spread the risk - Harvest the yield! …
Now Fannie Mae & Freddie Mac want back in on the action
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”
Everyone wins! …
The country is now infected with AFLUENZA
...“We need even more mortgages. Pressure Government to lower credit qualifications, raise borrowing limits, allow less equity positions. Let homeowners use their homes as ATMs+++”...
WARNING! WARNING! DANGER! DANGER!
WHERE IS THE SEC? WHERE IS THE FED? *****
...“Banks will police themselves” says the SEC
“Homeownership is up.
The Standard of Living is up
It is good” says the Fed...
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”...
CAN THIS LAST? WON”T HOMES PRICES HAVE TO COME DOWN OR INCOMES GO UP? .
2006 – 2007
Prices too high.
Average home unaffordable
Fewer home buyers.
Prices sinking
ARM’s resetting
Sub prime borrowers defaulting
Ninja loans failing.
Banks taking in less
Fewer dollars to lend
Layoffs beginning
Homes over-mortgaged
Appraising for much less
Equity gone
No equity - No sale
The downward spiral begins
Existing incomes static
Mortgage payments climbing
Homes losing value
Appraising lower
Jobs being lost
Unemployment rising
Banks failing
Wall St collapsing
Investment yields disappearing.
No way out!
2008 –2009
Elect a new administration with a RESCUE PLAN!
….“Spend more money Acquire more debt”….
WARNING! WARNING! DANGER! DANGER!
*ARM: Adjustable Rate Mortgage,
** NINJA loan: No Income, No Job or Assets
*** FNMA & FDMAC: Federal National Mortgage Corporation & Federal Home Loan Mortgage Corporation
**** CDO Collateral Debt Obligations
****** SEC: Securities & Exchange Commission & Federal Reserve System
+++ATM: Automated Teller Machine
poem by Nancy Chambers
Submitted by Poetry Lover
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A Bubble In My Heart...!
There's a bubble in my heart
A bubble that floats
Like it is made out of soap
There's a bubble in my heart
A bubble that dance
Like it is riding on the breeze
A bubble a bubble in my heart
A bubble a bubble that fills my heart
There's a bubble in my heart
A bubble that sings
Like it knows how to sing
There's a bubble in my heart
A bubble that roams
Out of my heart in to the storms
A bubble a bubble in my heart
A bubble a bubble that fills my heart
There's a bubble in my heart
Baby can you see that
Yeah the bubble in my heart
There's a bubble in my heart
A bubble that shines
Much more than sunshine
A bubble a bubble in my heart
Yeah baby, there is a bubble, a bubble in my heart....!
poem by Rowving Smith
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In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
quote by Timothy Geithner
Submitted by Lucian Velea
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As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.
quote by Timothy Geithner
Submitted by Lucian Velea
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Unemployment I Hate You
I was at varsity in my comfort zone.
I never knew the reality.
My dreams were unlimited.
Sky was the limit.
I never knew that today I would be
Sitting here unemployed, so hopeless
and ashamed of my self.
All my dreams are fading.
Unemployment you are the cause of poverty.
Unemployment you are the cause of depression.
Unemployment you are a poison.
Unemployment you are a disaster.
Unemployment I hate you.
To be employed it's not about how you know
But, about who you know.
Corruption, nepositism and cronyism
Are the recipes for poverty and unemployment.
Unemployment I hate you.
poem by Unknown Unpopular
Submitted by Poetry Lover
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I Have Reserved Time to Write This; Why?
I sat in the nature reserve
Watching the animals playing football
I was just a reserve
Not in the first eleven
I had a seat in the theatre reserved
I watched the play unfold
I not an actor I’m too reserved
I’m in the audience where I belong
I was called up by the army
Served before; but they wanted me to re-serve
I was playing tennis; the ball went wide
They made me re-serve
Reserve your energy
Reserve your nerve
Keep your humour in reserve
Keep your reserve in reserve
I reserve the right to say you asked me to write this
And I have kept the best in reserve
You will have to reserve an appointment
With a proper poet after you’ve read this
An anagram of reserve
Is reverse
I wish I could reverse time
Then I wouldn’t have wrote this
poem by Michael Micmac Mccrory
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We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households.
quote by Timothy Geithner
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As long as you have a system that is based on the rational that if you are making money you are thereby making a contribution to society, these financial rogue practices will continue.
quote by David Korten
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Well, our economy is very strong and growing. We have created 5.4 million new jobs in the last 3 years. Our unemployment rate is better than the average unemployment rate of the 1960s, 1970s, 1980s, and 1990s.
quote by Ric Keller
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State and local government, with financial support from the federal government, should offer a program to educate and train foster children for employment and provide them with financial assistance, as needed, until they reach age 21.
quote by Charles Foster Bass
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After one hundred years of federal rule, the United States House of Representatives has moved to provide for the first meaningful route to self-determination for the Puerto Rican people under our federal system.
quote by Dick Thornburgh
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The retirement system that is in place for members of Congress and other federal workers features what is known as the Federal Employment Retirement Plan.
quote by Virgil Goode
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Financial Amnesty
Wrongdoers created financial meltdown
In a sea of red ink whole Countries drown
For greed, they’ve altered global destiny
Leaders ought proclaim financial amnesty
ROTMS
poem by Ray Lucero
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We Are Running On Reserve...(raw, For Edit/revision)
we've been together for so long...
know which route we always take...
when the rains blur our windshields
and the sun heat our seats...
we sleep atop the moon bathed hill...
on beaches with calming waves...
roamed each road we never planned to take
but never we have felt before...
we are running on reserve...
we just cannot tell...
because we are running on reserve
our ride could not end well...
we are running on reserve
we are running on reserve...
we are running on reserve...
a red light keep flashing unnoticed
each bump were too much to take
we are running on reserve
so our end, we cannot tell...
the headlights are dim,
the horns shout making us deaf
the brakes push automatically
we are running on reserve...
and we near our end
poem by Albert Arsenio Sison
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The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.
quote by Timothy Geithner
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Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.
quote by Timothy Geithner
Submitted by Lucian Velea
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Whatever It Takes!
fuel prices keep rising,
and it trickles down.
grocery prices skyrocket,
people walking behind empty buggies.
small businesses shutting down,
people left without work.
either the rent, the light bill,
or a little something to eat,
you've gotta choose.
over half the people in this country
on the edge of going under.
and it's as bad or worse
around the world.
where does it stop?
where does it end?
the elite continue making money
on the backs of the poor.
starting wars, drilling for oil,
making closed door deals.
and the anger rises, simmers,
and threatens to boil.
the only hope for the future
is an equal distribution of goods,
a system where everybody
that will work has a chance.
now the question is
what does it take
for that to happen.
do we have to burn Rome down again?
whatever it takes...
now is the time!
poem by Eric Cockrell
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