Tuesday, November 26, 2013

Capitalism At Its Worst? Or Just Business As Usual?

The Empire Strikes Back 
How Wall Street Has Turned Housing Into a Dangerous Get-Rich-Quick Scheme -- Again 
By Laura Gottesdiener

Here is an article, far too long to post here, that reveals the lengths and depths to which wealth seekers will go in order to continue to accumulate at whatever cost to those unlucky enough to be caught in the trap - and there will be many caught in this one. The irony of the whole thing is that it is almost a mirror image of the housing bubble that caused so much damage such few short years ago in the US.

Reports of a housing boom are correct, prices are going up, but the new owners of most of the properties are not individuals but big businesses looking to make another killing, with the willing assistance of the very banks that foreclosed on millions of Americans. This time those who lost their houses due to foreclosure could well end up losing their rented accommodation too even if they don't fall behind in their payments.

The stark facts and research involved are here

This is business as usual. Accumulation goes to the top. Citizens count for nothing. Get used to it or decide to join those determined to change the system.


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