Another Ultimate LIE told by Wall Street, aka right-wing lying, Media: US economy crashed due to Housing BubbleYou know I wrote this article originally in 2010, but astonishingly not One, not even a freaking One of the problems listed here, which problems lead to the near crash of US economy have been addressed. Read this article for yourself and see.
One of Ultimate Lies told by US Media, among mountain of LIEs they have told the American People and the World, is the Ultimate LIE that "US economy crashed in 2008 due to Housing Bubble"!
This cannot possibly be true unless US is in another planet than planet Earth! Given fact that avg House prices in US at their peak, in 2007, were below $200/Sqft, which is WAY less than what avg House prices are now in Europe, Canada, Asia, etc., given that avg House prices in most of Developed World are well above $250/Sqft, with most developed Nations having avg House prices at above $350/Sqft. In fact you have to go to poor 3rd World countries to find avg home prices as low as US. You can also see this fact by the fact that avg House prices where the Wall Street gang members reside, which is New York City and San Francisco era are an astonishing 10 to 20 times of the avg prices for Housing in rest of US.
So question is Why US Housing prices have not kept up with rest of Developed World?
1- Lack of essentials such as Government run Universal Socialized health care which would SAVE typical American family $20,000 per year in health insurance premiums, and $50,000 and more in deductibles and co-pays if they actually need Hospitalizations. Something that ENTIRE Developed World has.
2- Our Taxes wasted on one War after another War after another War after another War after another War
3- Our Taxes wasted on a Gargantuan Military. Such as US providing FREE Military protection to Rich countries of Japan, Germany, UK, etc. whom all have Government run Universal Socialized health care and House prices that on avg are much higher than US.
etc. WASTE of our money on unnecessary things and not the investment and use of our Taxes in our People as other developed Nations in the World are making. All under the INSANE Con Job of the of the 1%, aka Wall Street Media/Cabal, that "Government is the problem and not the solution" - More on this point.
So along with such other Ultimate LIES told by US Media such as:
1- Iraq has WMD and thus the reason we need to wage War on this small country. A Lie that is so well known to the whole World to be a total lie by now that does not require further repudiation here.
2- Health care in US is the best in the World, better than Europe or Canada. A Lie that is mind boggling in its scope given the fact that 50Mill Americans have no health care while ALL Europeans, Canadians, etc. have health care, given that 1Mill+ Americans go bankrupt each year due to health care costs while ZERO Europeans, Canadians, etc. go bankrupt each year due to health care costs, or given that US health care results rank with poorest of 3rd World countries,
another Ultimate LIE by US Media, aka Wall Street right-wing lying machine, was and is that US had a Housing bubble which bubble bursting in 2008 lead to the economic crash.
And for a sampling of the FACT that avg House prices in Europe, Canada, Asia, etc. are well above $250/Sqft and nicely rising from these much higher average prices, here is one proof sample:
So contrary to there having been a "Housing bubble in US...", what the real FACT was and is, is that the US Housing market, like the rest of the US economy has not been keeping up with the rest of the Developed World for the last 30 years, and it fell so far behind the rest of the Developed World by 2007 that Capital Stopped coming to US and instead started going to the rest of the Developed World where beside Housing prices being much higher than US and going Higher, the Currencies such as Euro, Canadian Dollar, Australian Dollar, etc. were all going higher vs the US Dollar too.
Another ULTIMATE lie: "Government forced the Banks to give mortgages to people who could not afford it"
Another great LIE to come out of the Wall Street Media/Cabal about Housing is this LIE:
"It was Government who forced the Banks to give mortgages to people who could not afford it"
This is a TOTAL LIE as there is NO law passed by a Congress and signed by a President into LAW, which told banks to "give mortgages to people who could not afford it."
So this is a Myth, conjured up by the Republican party and right-wing Media/Cabal and repeated over and over by them, to put the blame on the Government and Middle Class, rather than where it belongs which is US Government controlled by right-wing Media/Cabal (aka Wall Street) behind the scene.
And it should be obvious that such a Law could never exist given how US Government was/is controlled by Wall Street via their Army of lobbyist backed by 100s of Billions of Dollar to label anything that helps the American people as "Socialism Socialist" while Rich & Big banks got to write the rules. The BEST example of which was Jamie Dimon of JPM testifying recently in the Senate and the Republican senators falling over each other to KISS his arssss.
Of course another way of seeing that the US Government has rarely done anything for American people that the Big banks, Big corporations (aka Wall Street gang) did not like, is the FACT that US Government has not even passed into Law something as basic and essential for the well being of the American people as Universal nationalized health care (NHS), something that would SAVE the typical American family of 4, or small business hiring them, $15,000 per year, something that every, repeat every other developed Nation has had for decades. WHY? Because the $1-Trillion per year in SAVINGs that NHS would bring the American economy (People & Small businesses), would come at the expense of the Wall Street gang and a small privileged class at the top (aka 1%). So do you really think a Government that has NOT even provided its people with such basic and essential thing as NHS, would tell the Banks that "give mortgages to people who can not afford it". Of course NOT.
What about Mortgage reduction efforts
Another Con Job and non-sense coming out of right-wing Media is such non-sense as: "But how about the Government effort to help the home owners via the $20,000 Mortgage principal write off.." at the cost of $25Bill
Answer: This deal is BS on so many levels.
1st, why a measly $25Bill amount, why NOT $750Bill like the Republicans & Dems gave to Banks and Wall Street?
2nd, Americans do not need a pathetic $20,000 Mortgage principal reduction, but what they/we need are Universal Socialized health care and Universal Socialized College education which would SAVE a typical family of 4 about $500,000 in their life time, at current prices of health care and college education in US. Which Socialized services, Germans have, French have, Norwegians have, Danish have, Chinese have, Israelis the beloved nation of Republicans and right-wing Media/Cabal have etc. as a result of which these countries have MUCH LOWER unemployment, much better economies than US and average home prices that are well above the US average home prices and nicely rising.
Another related LIE about Housing: Freddi & Fannie gave easy loans
Freddi & Fannie as semi Government run organizations is another favorite scare crow of the Republicans and the right-wing Media cabal behind them. That is they kept stating that we had a Housing bubble and thus then the crash, when again we had NO Housing bubble, based on the lie that Freddi & Fannie made it easy for the Middle class Americans to borrow to buy a House.
To see this non-sense, lets look at the example of Canada vs US.
You see they have HIGHER percentage home ownership in Canada than in US and avg home prices in Canada are MUCH HIGHER than avg home prices in US too. So unless US is on another Planet than Canada, which it is not, in fact US borders Canada, then the question becomes WHY can for example Canadians afford to buy homes with much more Cash down than Americans and homes that are on average much more expensive too than American homes? Put in simpler term, percentage of home ownership is higher in Canada than in US, and they do not have a "Freddi & Fannie" to have "made getting loans easier... AND avg house prices in Canada are much higher than US too. How can this be? Of course this completely destroys the non-sense by US (right-wing) Media that the cause of US economy collapsing was "easy loans by Freddi & Fannie so that American Middle class could buy a House...." since again percentage of home ownership in Canada is higher than in US and they have NO Freddi & Fannie.
How is it possible that the US Media told such a lie as "there was a Housing bubble in US..."?
You do not expect the US (right-wing LYING) Media to place the blame where the blame for US Housing market and economy falling down belongs? NO. Of course NOT.
Because then they would have to state the FACTS as outlined above as to the reason for why US economy (Housing) has done so badly compared to the rest of the developed World which would be another proof as to how Republican Lunatics and FRAUD Obama Democrats and the US (right-wing) Media have lied and lied to the American people for decades, and continues to do so, as agents of Big Pharma, Big Insurance, Big Banks, aka Wall Street gang, and the HEK with American People. So instead they had to put the blame on someone else, and given the magnitude of the problem this time they could not blame the problem on the usual escape goats of the past that is the "Illegal Immigrants..", "War on Crime..", "War on Drugs..", "Alqaeda", etc.. So they blamed the Middle class for borrowing money to buy a house and NOT on where the blame belongs which is on the Big corporations (Big Pharma, Big Insurance, Big Oil, Big Banks, Big Military, aka Wall Street gang) and the US (right-wing LYING) Media that they control, for having lied and lied to American people that for example NHS which would SAVE typical American family $20,000 to $50,000 per year and more is "Socialism...", even "Nazism" and bad and instead our for-profit Wall Street run health care system that is putting an extra $1-Trillion per Year in pockets of Wall Street gang members from health care costs on back of American people, thus paying the Wall Street gang members $40Mill per year Salaries and enabling them to fly in $100Mill Private Jets, damn be how many Millions of Americans this bankrupts and kills per Year, is good.