Irony of July 2009 Media Articles
About End of Recession

Article after article in the July 2009 financial media describe the upbeat look in the financial markets. It was the use of the American taxpayers borrowing from China and other nations that paid off speculators that brought down upon the American public the plight that has befallen them. Unrecognized or in standard denial, the same people that brought forth the nation's worst financial crisis are at it again, in one area after the other, taking the public for fools.

But for the American public, suffering the consequences of the endemic corruption, an end to the recession? Look at what they have yet to face for the remainder of their lives:

• Millions of unemployed Americans, the unemployment figures much higher than the officially stated figure, and made worse by the underemployed, working part time.
   
• The millions of homes that are either in foreclosure, have gone through the foreclosure process, or will do so over the next few years.
   
• First it was the subprime mortgages made to people who everyone knew could not make the payments once the teaser rates were gone.
   
• Then it was the loans made to people with a possibility of making the payments, called Alt-A loans, with a low interests rate. They started losing their homes in 2008 as the initial rates jumped. The teaser rates continue to mature until about 2011.
   
• Then is was the loans made to people with prime credit and income, who are now going into default as jobs are lost, many of which will never return.
   
• Then there are the loans with balances far higher than the current and falling market value. These will go into foreclosure as people walk away from their homes, further depressing the housing market.
   
• Starting in 2009 and continuing for several years, will be the foreclosures on commercial real estate and the collapse of value in the financial derivatives based upon the commercial properties.
   
• Then the bankruptcy of the many buy-out companies that were saddled with enormous debt that provided millions in profits for the manipulators.
   
• The end of unemployment insurance for the millions of unemployed will inflict even more human tragedies upon the people.
   
• The rise of the permanently unemployed as the pre-2007 economy built on fictitious paper profits and home equities no longer exists to fuel the job market.
   
• The decline of the United States as foreign countries expand their wealth and living standards.
   
• For Americans:
   
  • Millions evicted from their homes, living in cars or tents.
     
  • No money for food and necessities.
     
  • The hopelessness of no where to turn.
     
  • Many suicides.

  Making it all possible has been and is the endemic corruption in the United States, the endemic cover-ups, and the endemic indifference by the victims themselves to what was being done to them. They didn't care what was done to others, until they became victims. Now it is too late.

  Although few people read books detailing and documenting the decades of continuing corruption affecting the American people, for the very few who care to know, they are listed at www.defraudingamerica.com/list_of_books.html.