Mortgage Slaves and Banks
An interesting article on local radio recently addressed house mortgages and what it means to people in their future.
Many saddled with huge mortgages will take most of their lives to repay them, if at all.
The interest rate in Australia sees the average mortgagee paying around $26,000 a year in interest.
This brought to mind the term 'cash cow' and how banks and mortgage lenders hook people into debt while deriving enormous income which can last for decades.
It translates to CEO's earning millions in take home pay while rewarded with hefty bonuses and other things in return for their part in the business.
The Companies are posting huge profits that clearly state the price for their services is over the top.
Instead of lowering their charges they tend to increase them.
We do not have to look far back into history to see the way companies use workers for profit.
Not so long ago merchants flogged slaves to produce huge incomes from plantations, farms, ranches, and industry.
When the situation of human rights and religious reform came into play they paid workers a pittance, a few shillings a week, while renting them houses taxing them and so forth for the right to earn a living.
This was barely enough to live on and definitely not enough to get rich.
Archaeological evidence shows that families of 10 or more in Industrial towns in Britain lived in single unventilated rooms under shops without a toilet or running water.
They climbed a ladder to enter and leave while living like rats in a hole.
Meanwhile the bosses lived in mansions with servants and everything on hand.
This was all less than 100 years ago.
The situation hasn't changed all that much despite the so-called freedom people think they have.
What has changed is the way the manipulation of rich over poor operates and what education has meant to a lot of otherwise struggling battlers.
The average worker today struggles to make ends meet while many live in tiny apartments compared to the CEO's of industry.
They are just as far behind the eight ball although living standards and hygiene have improved.
Today, too, people are free to buy their own homes and to struggle to pay for them.
As long as the value of the home climbs and wages increase it seems a good proposition and it has worked well over the last few decades.
However, the economic climate has changed and the blame is being passed onto the CEO's and lending institutions who have made what are described as toxic loans to people who have no chance of repaying them.
This, coupled with falling house prices and loss of jobs, is adding substantially to the global situation.
People who entered this type of mortgage went out on a limb believing that they could make it and if things had remained stable they may have.
They over committed themselves on the basis of a promising future and believed that with hard work and good management it was doable.
What they had not factored in was the increases in interest rates that the lenders implemented.
This pushed many out onto the streets as their houses were repossessed.
The heartbreaking stories are flowing around the world.
The same is happening in Turkey, Iceland, England, Australia, and just about every country, as in America,.
But the bankers are still drawing huge salaries and massive bonuses amounting too millions.
As the US bankers, Lemann Bros, went to the wall the CEO was paid $450,000,000.
That's millions not thousands whilst the home owners lost everything.
But this is the case with most bug companies who go into bankruptcy.
The ones responsible come out on top while shareholders and others pay the price.
These payouts are unjustified and come straight from the pockets of the little people, the workers, the battlers, who strive to rear families and escape poverty.
They are targeted because of fear that unless they buy a home they may not have anywhere to live.
They are also fed the notion that it is a safe investment.
We have all heard the phrase "safe as houses".
What do these Ceo's do with their millions? They can only live in one house at a time but they own many houses.
They also buy up homes that the battlers would normally purchase but are not forced to rent at enormous cost.
This pays out the mortgages for the rich and makes houses scarcer so they cost more.
This is another cash cow and it works because governments allow it.
Unfortunately it is the rich who sponsor political parties and help individuals get elected.
It is to them, therefore, that the obligations to protect their lifestyles will fall.
Whoever gets in is already protecting the cash cows of the big end of town, that is the CEO's.
It is a whirlwind of economic disaster and it is the little people, those who are encouraged to have ever more children, those who work the factories, who clean the offices, who drive the buses and who teach the children that are paying the price.
It may be that they are encouraging the situation by becoming victims to it.
But the solution may not be in our life time to resolve.
As the big guys are protected and above the law, as it would seem, the economic mood is changing.
The money they love so much may not be there in the future and it certainly will not feed them and nor can they drink it.
Much of their money is raised through the destruction of nature and it may be that climate change and global warming will end everything.
In the end, therefore, what does the money mean?
Many saddled with huge mortgages will take most of their lives to repay them, if at all.
The interest rate in Australia sees the average mortgagee paying around $26,000 a year in interest.
This brought to mind the term 'cash cow' and how banks and mortgage lenders hook people into debt while deriving enormous income which can last for decades.
It translates to CEO's earning millions in take home pay while rewarded with hefty bonuses and other things in return for their part in the business.
The Companies are posting huge profits that clearly state the price for their services is over the top.
Instead of lowering their charges they tend to increase them.
We do not have to look far back into history to see the way companies use workers for profit.
Not so long ago merchants flogged slaves to produce huge incomes from plantations, farms, ranches, and industry.
When the situation of human rights and religious reform came into play they paid workers a pittance, a few shillings a week, while renting them houses taxing them and so forth for the right to earn a living.
This was barely enough to live on and definitely not enough to get rich.
Archaeological evidence shows that families of 10 or more in Industrial towns in Britain lived in single unventilated rooms under shops without a toilet or running water.
They climbed a ladder to enter and leave while living like rats in a hole.
Meanwhile the bosses lived in mansions with servants and everything on hand.
This was all less than 100 years ago.
The situation hasn't changed all that much despite the so-called freedom people think they have.
What has changed is the way the manipulation of rich over poor operates and what education has meant to a lot of otherwise struggling battlers.
The average worker today struggles to make ends meet while many live in tiny apartments compared to the CEO's of industry.
They are just as far behind the eight ball although living standards and hygiene have improved.
Today, too, people are free to buy their own homes and to struggle to pay for them.
As long as the value of the home climbs and wages increase it seems a good proposition and it has worked well over the last few decades.
However, the economic climate has changed and the blame is being passed onto the CEO's and lending institutions who have made what are described as toxic loans to people who have no chance of repaying them.
This, coupled with falling house prices and loss of jobs, is adding substantially to the global situation.
People who entered this type of mortgage went out on a limb believing that they could make it and if things had remained stable they may have.
They over committed themselves on the basis of a promising future and believed that with hard work and good management it was doable.
What they had not factored in was the increases in interest rates that the lenders implemented.
This pushed many out onto the streets as their houses were repossessed.
The heartbreaking stories are flowing around the world.
The same is happening in Turkey, Iceland, England, Australia, and just about every country, as in America,.
But the bankers are still drawing huge salaries and massive bonuses amounting too millions.
As the US bankers, Lemann Bros, went to the wall the CEO was paid $450,000,000.
That's millions not thousands whilst the home owners lost everything.
But this is the case with most bug companies who go into bankruptcy.
The ones responsible come out on top while shareholders and others pay the price.
These payouts are unjustified and come straight from the pockets of the little people, the workers, the battlers, who strive to rear families and escape poverty.
They are targeted because of fear that unless they buy a home they may not have anywhere to live.
They are also fed the notion that it is a safe investment.
We have all heard the phrase "safe as houses".
What do these Ceo's do with their millions? They can only live in one house at a time but they own many houses.
They also buy up homes that the battlers would normally purchase but are not forced to rent at enormous cost.
This pays out the mortgages for the rich and makes houses scarcer so they cost more.
This is another cash cow and it works because governments allow it.
Unfortunately it is the rich who sponsor political parties and help individuals get elected.
It is to them, therefore, that the obligations to protect their lifestyles will fall.
Whoever gets in is already protecting the cash cows of the big end of town, that is the CEO's.
It is a whirlwind of economic disaster and it is the little people, those who are encouraged to have ever more children, those who work the factories, who clean the offices, who drive the buses and who teach the children that are paying the price.
It may be that they are encouraging the situation by becoming victims to it.
But the solution may not be in our life time to resolve.
As the big guys are protected and above the law, as it would seem, the economic mood is changing.
The money they love so much may not be there in the future and it certainly will not feed them and nor can they drink it.
Much of their money is raised through the destruction of nature and it may be that climate change and global warming will end everything.
In the end, therefore, what does the money mean?
Source...