INFLATION ADJUSTED MORTGAGE
Yesterday, I tried to warn you about inflation and I even predicted that you would all ignore me. I also claimed that I was always right, and it turned out pretty embarrassing for you because I got one stinking comment on the article which just might tell you that no one was in fact reading my brilliance strewn before you. I would rather be wrong, living the rest of my days in boring numbness and fiscal servitude. But I'll be right and times will become really interesting really soon. Now, tying in with yesterday's futile warning, here is more forecasting for you. You will see your debts adjusted for inflation.
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For decades, our industrial base has been sold off to the lowest bidder, our economy has been turned into a house of cards, no innovation or real investment was made outside of digitalizing our old analog economy ( I'll get around to that article one day, its been cooking slowly ) which was not to save energy but to shed workers, our infrastructure has been allowed to crumble and we've all been turned into central bank wage slaves. I won't even mention how this was largely in lockstep with oil depletion so as not to hack you off even more. But the plain fact of the matter is that as we produced less and borrowed more, more and more power was transferred from corporations and government to the bankers. And, as a further favor to you because I feel very giving and generous today, I won't go on and on how evil those whores are.
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Today, it is all about serving our banker elite. Our masters. Obammy, who was given a non-Muslim cover and groomed in blueblood ivory league schools and has really put most of Hollywood to shame by his act that he actually cares about anyone except the boys pulling his strings ( it's not a conspiracy theory, just follow the money ), has clearly shown his willingness to put on the show for the public ( God, I'm so nice today! I won't even make rude comments about not needing to put on a certain kind of makeup for the show ). But it's not very hard to see that the banks are going to get every single thing they desire. Need $200 billion so your bonuses aren't reduced this quarter? Sure. Need the pension funds from GM to keep the cash flow up, no problem. The Chinese aren't as idiotic as you thought and refuse to buy anymore toxic US debt, let us create $600 billion for you by buying up our own Treasuries. And this is all before the presses really heat up or Social Security taxes are raised again.
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When hyper-inflation heats up, everyone is going to have a nipple and sphincter tingling moment as they think they can easily pay off the home mortgage and Hummer loan. Ha!! You poor delusional fools. If the government is a tool for the bankers, which even Ross Perot knows is true, what makes you think they will go along and allow a loophole for the debt slaves? They won't. It is the height of insanity to think so. They will index debts to inflation. And it won't be that low inflation rate they use to adjust your wages or Social Security payments were they take out food and energy costs. It will be the actual rate. The bankers have proven time and again how greedy they are. Logic, telling them too many people will be ruined by this, will not apply. Between their natural greed and their butt clinching fear that the gravy train is derailing, they will squeeze everyone unmercifully. Oh, Jim is so full of poo-poo, our knight Obammy will save us! I'm only predicting what has already started. The banks are squeezing the credit card holders so much you can only assume they want immediate cash flow and don't care two snots about the future.
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Junk land has no mortgage. Neither does an RV. But your solar gain nuclear fallout shelter with ten acres of crops and grazing and a year round stream and forests for wood sure as hell does. Even if you have that paid off, good luck affording the new and improved higher property taxes desperate local government will apply after you've lost your job. I love the concept of agrarian self sufficiency. It is the immobile target aspect of it I fear. You think I'm wrong. Okay. Keep your mortgage and car payment. Don't jingle mail and don't try to drop out of the rat race. Honestly, best of luck with it. You might need it.
END
Have you bought any of my crap lately? www.bisonpress.com
Wednesday, June 03, 2009
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21 comments:
I have a hard time seeing how millions of contracts could be altered in such a simple manner.
"I have a hard time seeing how millions of contracts could be altered in such a simple manner."
Have you not noticed the GM and Chrysler bankruptcies?
All those bond holders who got hosed owned contracts (a bond is just a contract to repay money lent) that got altered by proclamation from Obammy.
I don't wanna hear any complaints about the comments.You don't allow anonymous comments anymore and that is a mistake.
You're not getting feedback from the majority of your readers because THEY WANT TO REMAIN ANONYMOUS.
Today's post was pretty good. The last couple of weeks you sorta sucked a little.Today was pretty good.
"everyone is going to have a nipple and sphincter tingling moment"
I hope I get my tingling moment too. I like that shit.
Why does M.D. Creekmore delete his comments ?
kirk505,
Why do you not make your profile available for readers to view?
theotherryan
Are you fucking blind ? The government fucks us all the time,front and back and in the mouth,without lubricant.
Gun control,the Patriot Act,taxes...
Open your fucking eyes.
Hello,M.D Creekmore. I'm just curious,not trying to give you a hard time.
Huh ? King Salami ain't going to save our precious little white asses?
kirk505,
I misspelled a word in the comment, so I deleted it.
M.D Creekmore
I'm lazy. I haven't created a profile yet.
Well, I already have junk land. That is it's basically junk land now, but I might consider getting into the junk biz to pay the property taxes.
I'm not sure if Jim is serious that LIKE EVERYBODY should go live in a trailer, on an inhospitable cheap piece of land and eat wheat berries, nor am I sure if it's a stylistic snafu in his writing or that he just likes to beat the drum for the Bisonian way of life.
Maybe I ought to fix up that old travel trailer instead of stacking wood for the winter. But I'm also considering a camper for the pick up truck, just in case. Well RV's may be cheap right now, but your sort of stuck with all your eggs in one basket if you break down in Sluggoville.
Texas suxs and is too close to Mexico for my risk appetite !!!
BTW, you may have heard of 'bracket creep', where the gov't gives you the double dong with inflated money and higher taxes. But, I've noticed 'shelf creep' at the local store.
For instance, the lowest end picture frames (just a plastic holder and glass) have disappeared, and only even more crappier and gaudier junky ones at double the price have appeared in their place.
So I agree with Jimbo, and the disappearance of products is the first sign of HYPERINFLATION.
Hey! the DOLLAR TSUNAMI could be 10 or 15 years away, but, in the first hand accounts, it shows up unexpected and practically overnight....
What ?
"I love the concept of agrarian self sufficiency. It is the immobile target aspect of it I fear."
Immobile target ? Farmers can't run ? How many pounds of wheat can you hump in your ruck ?
At some point your going to have to grow some food or you will starve to death.
Living out in the desert to avoid the cannibals is a good idea.After the die-off you're going to have to do some farming.
Texas sucks big donkey dicks.
And the biggest fucking is yet to come...
I gotta agree with theotherryan; our mortgage contracts are virtually set it stone. Gonna take some major legislation to change that and doing so would definitely cause a revolt even quicker than a gun ban would.
I meant to comment yesterday James, but I was busy at work. Anyway, I was going to say that we love you but do we have to tell you that every frickin' day? You're worse than my mother. I am sure your readers have stocked up on beans, wheat, rice, etc. Not everybody is onboard with the junk land in the middle of nowhere with no jobs except wiping the stalls in the local porn emporium. It's a far stretch for most people and you have to give them time.
I have my land but haven't figured out how to extricate myself from my house. I owe far less on it than I have in equity, so unless I'm willing to lose a ton o money, I'm here until I can find a buyer. Hopefully next summer.
Also I need a reliable high speed Internet connection for my job. I haven't figured out how to get one yet. There are showstopper problems with satellite and the recently available wireless.
James, how about writing a bit on an existential topic: what do you see as the meaning of life?
I don't put anything past the government lately. They could easily legislate some crap to screw everyone with fixed mortgages. They will figure a way to screw us on our guns and or ammo too.
Yes, it may cause a revolution but how many folks really have the guts to do something? Just look at how the Nazis came to power on the backs of the poor. THey pulled it off pretty easily. We had to save Germany. Who is gonna save us? Noone.
BTW, I have my land now. Spent a bit on it but looking for a camper now. We will build eventually though...but something conservative.
Some of us are still loyal minions Jim.
"They will index debts to inflation"
disagree. I've seen no evidence of anyone even thinking about this. We have had double digit inflation before but nobody ever talked of it.
Jim may be right but the procedure is wrong, they will adjust the payback rate by dropping a few zeros off the end of the dollar, making old 100's into new ones.
but we will have to pay off the mortgage in the new bills at the full old rate.
zimbobweeeeeeeeeeeeee shuffle
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An easy way for the fed and local govs to go after land owners without modifying your fixed rate mortgage is to take away the tax deductions - there is already talk about doing this. And then just start raising the taxes. with so many people loosing their jobs and companies closing were do you think they are going to get the money to pay for all of this. Well at least the parts that keep the traditional poor happy? Why from the property owners!
So if you can live were the local govs can't tax and junk land makes sense here. the other way is to rent while you can afford it but make sure you have a fall back location. Here an multi generational family location or a commune makes sense.
Anyway, don't tempt the fates or put another way Obama and Co, are just getting started and this is going down hill. I am hoping we have two years before everything collapses but we may not make it that long...
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