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Calling Economic Crisis 'Five-Alarm Fire' for Millions of Families, 600,000 Sign Petition Demanding Rent and Mortgage Cancellation

Originally published at http://www.commondreams.org/news/2020/04/29/calling-economic-crisis-five-alarm-fire-millions-families-600000-sign-petition


And for those of us fortunate to own our own homes and are low income or seniors, how about property taxes that finance public education base on our homes rather than income! In NY those who fought for property tax reform - not “relief” - were screwed by andy cuomo who foisted a BS betrayal scam on us that did little or nothing to lower those obscene property taxes, forcing many to leave or face poverty paying what they cannot when the wealthy who can lobby politicians to not finance public ed based on ability to pay NOT our homes!!

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For those of us who sacrificed over the years to pay off our homes, will we get the equivalent in cash?


Time for debt reduction, debt forgiveness starting with the bottom 50% of income Earners and work the way upward in planned timely manner. No more debt creating bailouts.


Clearly there need to be limits - for example, I have put off buying a boat until i can pay for it in cash; should those people who took on excessive debt to buy toys, like boats, ATVs or multi-thousand dollar entertainment systems, now get clear title for free?

bill gates bill gates bill gates…

In the midst of the worst pandemic in a century, there’s still someone here desperately struggling to get us worked up about Bill Gates’ devious vaccination schemes. Seeing anti-vaxxers show up on this occasion is like seeing people in Civil War outfits, doing re-enactments. Somewhat pathetic. All that anti-vax idiocy belongs to the previous planet, not the one we inhabit as of March 2020.

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And what about home owner taxes?

My spouse and I worked our tails off and sacrificed to have two homes free and clear. That is a very good question!

Bill Gates only cares about $$$, not people. If you think otherwise you are incredibly naive and need to get with the present planet (April 2020)

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The issue isn’t Gates himself, not at all. His name is a shibboleth by which we can easily recognize the nut-job anti-vaxxers. Are you a nut-job anti-vaxxer, toting your sidearm on the way to another quarantine protest? If not, we have no issue, here. If you’ll believe anything whatever about Bill Gates (I heard he’s actually an extra-terrestrial) just cuz you hate Windows, then we differ.

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Sorry didn’t mean to demean your personal demi-god. Obviously your man-crush prevents you from seeing him as a flawed human like the rest of us - you of course are excepted. ID2020 will, as Gates has stated be“responsibly implemented and widely accessible.” I don’t think Gates is the anti-Christ but as my Daddy used to say: “Trust everyone but cut the cards anyway”


Nice words from AOC and Ilhan but they mey have to grab a spine and start calling our the Dem leadership for being so feckless in fighting for the well-being of the people who are suffering big time.


Well yes and no on this one. Okay Cuomo is a worm, its true; and the laws are not fair is also true; and the lawmakers are unanimous on most of those laws is true regardless of being democrats and republicans; and the more likely the voters are wealthy enough to buy homes, the more likely they vote for democrats and republicans and not progressives is true. Homeowners are almost unanimous in electing said lawmakers, and almost never vote for progressive candidates in either congress the senate or for the executive. Now the same home-owning voters are whining because the politicians they have strongly supported their whole lives are doing exactly what those politicians have always consistently done their whole political careers - supported big business, and never, ever, sided with the populations needs. Now, in the next election, and the next, those same voters, again, will vote right wing, and again fail to support any actual progressive candidates - so it is exactly as they chose it to be, and they have denied to those of us who chose otherwise, to have progressive reform,… in general. This time, my sympathy is quite a bit less.


How do you account for poverty wages causing excessive need for credit and social service? This issue did not start in January, it started 40 years ago. What about all those in 2007 getting out of failing markets at some loss to them only to see the government bailout the markets? Socializing the losses and and privatizing profits. The whole economic system is full of inequalities, injustice and inequitable treatments. Creating more debt with bailout loans does not resolve the debt problem it exacerbates it.

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The fact remains that if most people found themselves debt free tomorrow, what would be the first thing they would do? Borrow a bunch more money of course! assuming anyone in the US would ever invest or loan money again. Remember that most ‘investments’ are just loans. Why would they if at any time the debt can just be cancelled? My Dad told me that when he grew up if you wanted to buy a home on payments, you had to put up anywhere from 25-50% of the purchase price as a down payment - many people demanded complete payment. Then banks started loaning people money (with the home as collateral) with smaller down payments in the hope they could foreclose.

There in is the problem. The financial sector has made loans so easy while wages remain stagnate or eaten by true inflation. The bailout loans of 1/4 to zero and talks or negatives for the big corporate banking system to offer even more debt is insane. Our whole economy seems based on debt creation. We create more debt and when it can not be collected and the markets crash we create more debt, on and on and on. All the while the wealth inequality increases and the ledger of the poor and homeless increases.


In an economy where the richest 1% takes all the gains while the poor and working class haven’t seen a raise in four decades, it is the rich who will reap the benefits while workers get sick and die. Once again It is finance capitalism that is being bailed out when it should have suffocated under its own weight in 2009.


You’re just trying to be an ignoramus – perhaps that’s the only role you can handle. Anything anyone says, you won’t ever hear it, your ears are closed. What’s the point in trading flames with a mindless mediocrity such as yourself? My guess is your only game is spewing static because you, too, are a nut-job anti-vaxxer, which explains your hard-on for Gates. (You’re the one getting all aroused there, bub.)

If you really are a senior citizen, it’s a damn shame you never got around to growing up. Maybe when you get a little older you’ll be ready to interact with adults in the room. Bye-bye baby, bye-bye!

nineteen50, I’ve up-voted you because I agree with your observations. Observations, however, are not the same as analysis. The analysis I am most persuaded by comes from a current Prof. at Columbia who long ago in my Flushing, Queens childhood was herself a young immigrant from Argentina who took a student teaching job in sociology at my neighborhood Queens College of the City University of New York and her courses and teaching made such a deep impression that I’ve followed her work off and on through the decades since. Now she is highly respected for her work researching the FINANCIALIZATION OF REAL ESTATE.

Dr Sassen doesn’t sound wonky explaining this stuff, like Chomsky if you are willing to listen more than once to a lecture and take notes on her key points then look further into the subject online the logic of this new “market innovation” and the nearly global housing crises and “normalization of homelessness” becomes understandable. Most frustrating since in the U.S. our corporate-captured news and public affairs media has no interest in deepening public understanding of a very profitable market for the few.

Simply put, as Dr Saskia Sassen frames it, this market in luxury condos that are re-sold as investments in market rate leasing in desirable cities and even modest working class neighborhoods is not about providing “housing.” It is about a new “innovation in financialization” and as Dr Sassen explains to the Swedish documentary film-maker of the movie called PUSH that has yet to open in the U.S. but impressed the Toronto Film Festival a year or two ago as Canadians also deal with the “normalization of homelessness”: These newly built mostly unsold or absentee-owned luxury condos in buildings that become leased rentals are “Safety Deposit-boxes in the sky” for global capital seeking a place to safely park as the world’s reserve currency and monetarism in general gets shakier and shakier as an investment idling off-shore.

The why\how of the global urban phenomenon of empty newly built high rise condos in the most desirable cities on earth, even as the homeless pile up in 21st Century Hoovervilles of Homeless encampments in the shadow of these mostly vacant newly built luxury condos that get re-sold as rental leased market rate units, even though because of 50 years of Wage Stag-Nation very few employees make Market Rate Mortgage wages and fewer still in the Gig E-CONomy can qualify for 30 year mortgages!

Let’s see about getting PUSH the film and Dr Sassen into our North American towns once this Quarantine & virus runs its course (God willing, soon!)

The normalization of homelessness is now reaching GREAT DEPRESSION levels that even WW II on Euro soil didn’t resolve. Although American industry got very rich like the Koch Brothers family biz selling to both sides, the Stalinists and the Nazis! Which is why Washington turned during the Eisenhower and JFK years to building government subsidized low-income housing (if you were white, look that part up online when you search for how Fred Trump built the family’s fortune as contractor to the U.S. Tax-Payers’ newly planned suburban 35 year mortgage tract housing back before both political parties in a fit of Neo-Liberal E-CONomics via Cold War propagandist Milton Friedman and the Chicago Boys made SHRINKING BIG GOVERNMENT a prevailing doctrine for any serious national political candidate…)

Our current Symptom In Chief and his presidential rival Status Quo Joe Biden, the Senator and VP from the Banking and Corporate Charter secrecy legal fiction state of Delaware and the Credit Card industry, or at least MBNA’s slice of it, have spent their inheritance and career of Private Interest service at the expense of the Public Interest agreeing on the top priority of any U.S. President should be to SHRINK BIG GOVERNMENT!

Recall Obama-Biden even after the socialized TARP bank bail-outs of the 2 Bush-Cheney administrations and the Savings & Loan bail-out of the Papa Bush administration following the Reagan-Bush years campaigned on SHRINKING BIG GOVERNMENT and those “Shovel-Ready Infrastructure Stimulus Projects” of the reform administration of Obama-Biden and their 2008 cabinet of Wall Street’s Biggest Predators (Larry Summers, Tim Geithner, Eric Holder, Arnie Duncan the Betsy De Vos Privatizer of Public Education and basketball shooting pal of Barry Obama from Chicago days) never quite materialized. Although the Gig E-CON-omy got even tougher for Wage Slaves and Clock Punchers as Obama’s genius of a social media campaign manager, David Plouffe dreamt up the business model for Uber and Uber-ized U.S. into the most wealth being owned by the fewest people in off-shore idle capital accounts in recorded human history.

Mitch Ritter\Paradigm Sifters, Shifters and Song Chasers
Lay-Low Studios, Ore-Wa
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two Homes . .wow x 7.

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