housing bubble

The transcripts for the Federal Reserve’s 2006 meetings were released this week, and with them comes the news that the people in charge thought that the housing crisis was pretty hilarious at the time, and that the biggest problem facing the economy was inflation. That is to say, that the economy was growing too damn […]

Great news, everybody: After deliberately failing to help millions of American families stuck in vulture mortgages, the U.S. government is now giving those foreclosed homes to Wall Street for pennies on the dollar so that Wall Street can then rent the now-vacant foreclosures back to the same people pushed out during the Wall Street-caused housing […]

A startling new study proves that America’s Middle Class has been utterly, completely wiped out — these are the people all politicians are always talking to, in theory. What happened? Apparently, wages have been declining for thirty or forty years and pensions have vanished and the one asset 90% of middle class people owned is […]

At the rate of last month’s dismal job creation, it will take more than 15 years for America to replace the 7 million jobs that vanished in this Great Recession. The awful new job numbers — just 38,000 in May when economists say the country needs at least 244,000 new jobs per month if the […]

Despite the complete recovery of the American Economy — what, did you miss it? — a record 14% of households with mortgages are currently delinquent. That’s more than 7 million households. Another survey says 10% of all mortgages are in default, the highest percentage on record. Don’t worry, it gets worse.

The derelict city of Detroit is finally “getting serious” about razing thousands of boarded-up abandoned houses, and the worst ghetto crackhouse of all will soon be bulldozed: the childhood mansion of Mitt “Mittens” Romney. The Romneys and their servants once lived a life of Mormon Aristocracy in the five-bedroom two-story 5,500-square-foot estate in the once-grand […]

Those lousy Greeks/Europeans, how can they spend so much money propping up their failed economy and jobless cretins and mountains of bad debt? Don’t they have capitalist scruples or whatever? Oh yeah, and America’s government-run mortgage hander-outer, Fannie Mae, needs another $8.4 billion to get through next week maybe, things have been sort of tough, […]

Remember the Housing Bubble and the gazillion bullshit mortgages that caused the entire global economy to collapse and send us into a terrible World Depression? It’s still going down! The housing crash, that is — one in eight homeowners is now either in default or in foreclosure, a new record!

Turns out we didn’t need “stealth socialist” Barack Obama to pervert capitalist America into a crumbling nationalized economy run in private by a dome-skulled kleptocracy as our nation’s battered military wastes away in the forgotten bummer of a civil war in Afghanistan. WAIT A MINUTE that is exactly what happened in the Soviet Union! And […]

Disgraced whore-fucker Eliot Spitzer is done with this “help people with their lives” nonsense, now that he doesn’t have to govern New York or shut down prostitution rings while patronizing those same prostitution rings. He is ready to earn ONE BILLION WHORE DIAMONDS by becoming a “vulture” real-estate flipper.