Despite Bank of America buying Countrywide, it’s far from over.

by Jeff Davis

Bank of America recently took over Countrywide Mortgage, the nation’s largest mortgage lending institute, which was in danger of going bankrupt. The stock market has dropped one thousand points in the last month as anxiety over the growing mortgage crisis increases. Our current society, obsessed with outsourcing, has made millions of jobs, which used to be reliable, uncertain, and many white collar employees are failing to pay off their loans along with the unreliable subprime crowd.

While a few thousand jobs at Countrywide may have been spared, the larger problem of millions of shaky loans still exists. The plunge in housing prices means that any defaulted loan will likely cost the lender a lot of money. The building industry will be severely hurt as lending criteria are raised so high that very few will qualify. The Great Housing Crash of ‘08 is on the way. Will you be wiped out by negative equity?

According to Yahoo News: “U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company. In all, 201,950 foreclosure filings were reported last month, compared with 120,334 in November 2006, Irvine-based RealtyTrac Inc….Last month’s filings fell 10 percent from October’s 224,451. The last time there was a sequential drop in foreclosure filings was between August and September, when they fell 8 percent…The U.S. had one foreclosure filing for every 617 households in November, RealtyTrac said.”

Basically what has happened here: ever since George W. Bush and his little Jewish friends entered office, Americans have been persuaded by a massive propaganda effort to turn their own housing, the places where they live with their families, into a gigantic gambling game that generates huge profits for Jews and parasitic bankers who actually contribute nothing at all to the economy in terms of produced goods.

The housing market of the 2000s is roughly what the stock market of the late 1920s was to ordinary people. Everybody back then was playing the market, hoping to buy low (on margin) and sell high, thus reaping huge profits on paper without actually doing any work, manufacturing anything or contributing to society. Money making money, the essence of Jewish capitalism as opposed to honest free enterprise which involves actual production of goods and services. Then in October of 1929, all the paper came tumbling down and reduced pretty much the whole nation to destitution.

The object of the game from the point of view of the Jews and bankers has been to get everybody laboring under a crushing mortgage, owing 30 years’ of devastating interest payments that will put even our grandchildren into debt in some cases. The only way people could (in theory) get out from under their crushing debt was to sell their massively overpriced house at a price even higher than they paid for it and buy something cheaper or pocket the profits and become a renter again. Most people didn’t do this, but are holding onto a house that they paid way too much for, and which they won’t truly “own” until after decades of payments.

Meanwhile with every transaction Jewish real estate agents and bankers skimmed off a hefty profit at little risk to themselves. The Jews pulled the same scam with housing that they have so often pulled with the stock market in the past …they convinced people that the bull market would last forever.

People bought or refinanced a house with almost no money down (the 21st century version of buying on margin,) waited for the market to go up, and hoped to sell at a huge paper profit. The fact that people do, in fact, need someplace to live and their paper profits were usually eaten up in an even worse mortgage for a more up-market house seems to have escaped the notice of the millions of Americans who fell for this Jewish scam.

But in their mad lust to get everybody into 30-year financial serfdom and paying billions of dollars of interest into their pockets every month, the Jews and the bankers started lending “subprime,” basically to any Jose, Tyrone or Mugabe who walked in the door. They made billions of dollars of very shaky house loans to blacks, to illegal aliens and to white working families whose jobs were then downsized or outsourced to India. The result is that hundreds of thousands of people can or will no longer pay the Jews for the houses they bought, and are walking into real estate offices and throwing the keys on the table.
Yahoo News tells the tale. “The filings include default notices, auction sale notices and bank repossessions. Some properties might have received more than one notice if the owners have multiple mortgages. Forty-three states saw an increase in foreclosure filings over last year.”

So the Jews and the bankers (often the same thing) ripped off immense profits and now they’ve got a lot of houses on their hands which they can surely re-sell for something, right? Afraid not. It’s a lot more complicated than that. For example, let’s say a house sold for $600,000. The buyer put down $50,000, but the value of the house drops to $400,000. If the buyer goes bankrupt, defaults and walks away from the house, that means the bank loses $150,000 for each house in a similar situation. If enough buyers default, the bank could be finished.

Also, the Jews and bankers who were doing the mortgage lending were themselves borrowing money to stay afloat, based on their “accounts receivable” as collateral, in other words all that money they thought they were going to be raking in over the next 30 years. Now all the little sharks can’t pay back all the big sharks that they themselves are indebted to, and they are going to be eaten.

Okay, you say, but since all of this is on paper, so what?

What you need to understand is that in a Jewish capitalist society, as opposed to an Aryan free enterprise society, everything is based on BORROWED MONEY. EVERYTHING. Everybody borrows from everybody else. This allows for the lifeblood of the Jewish people: interest. Money making money on its own, without actually working or producing anything or providing any services of value. This is how the basically unskilled and parasitic Jewish people have survived for the past 5,000 years, in essence recycling the same limited amount of actual wealth over and over again and drawing off their own sustenance in the form of interest, like vampires. Eventually, of course, the Jews’ host nation dies, and the Jews move on to a new victim.

EVERYTHING is dependent on borrowed money, including the company that YOU work for. (Almost all whites these days work on salary for a corporate entity, even if only as a no-benefit “contractor” or consultant; almost no one is actually self-employed on the basis of their own skills anymore.) A major banking or financial crash sets off a domino effect as screaming, hysterical Jews demand that their paper holders sell up and liquidate their debt, anything to raise cash to allow the Jew to continue to “wet his beak” in a labor and production-free flow of money.

What this will mean in the real world is that

A) That adjustable rate mortgage that Joe Sixpack signed a few years ago for friendly Mr. Silverstein is going to go through the stratosphere as the Jews raise the interest rate on the mortgage to try and squeeze more money out of those who are still paying; the 21st century equivalent of the 1929 “margin calls” that caused Black Tuesday;

B) Joe will not be able to sell his house, because no one can get a mortgage any more since the flow of borrowed money has dried up and no more credit is available; and

C) Joe may end up with “negative equity,” i.e. owing more on his house than its current market value, which will crash through the cellar floor since no one is able to buy any more. Joe will not be able to pay, because the crashing economy will wipe out his job and millions of other jobs too. Then comes

D) The sheriff’s foreclosure notice will be taped to his door, and then Joe’s family will be dragged into the street or the local Salvation Army homeless shelter because we in America have been stupid enough to allow the Jews such enormous control over our economy for so long. But hey, we didn’t throw out the Jews after the First Great Depression, so a Second Great Depression is our reward.