Tim Geithner Holds The Key To The Coming Economic Implosion

Discussion in 'Economy' started by Terral, Mar 15, 2009.

  1. Terral
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    Terral Terral Corp CEO

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    Greetings to All:

    The key player in the demise of these United States of America is Treasury Secretary Timothy Geithner about to begin laying out the details of the Obama Administration Housing Plan.

    Blogs.ABCNews.com


    If we travel back in time to September 18, 2008, then Geithner’s predecessor Secretary Paulson and his buddy Ben Bernanke (pic) dropped the bomb on Congress that TARP 1 must be implemented to stop ‘Financial Armageddon’ (story). Then everyone wanted to criticize the banks for ‘not’ lending out TARP money (story), which is leading We The People into TARP 2 (story) and the very place where Timothy Geithner enters the scene promoting “the Obama Administration’s second front in its battle for economic recovery – a plan aimed at soaking up $500 Billion in toxic loans to jump-start stalled bank lending.”

    Once again we see that the “Plan” includes buying up troubled toxic assets, which on the surface sounds like a good thing; but in reality this is the very “Plan” that will kick out the Housing Market “Bottom” and lead the USA directly into the coming Second Great Depression (video). The banks refused to loan out TARP 1 money, because the USA is suffering in the worst ‘deflationary’ housing market in U.S. history. Just look at the chart (pic) to realize that US House Price Trends are going into the toilet and NOTHING Timothy Geithner can do now will stop the decline. This means that the value of any ‘new loan’ will go DOWN right along with sagging house prices ‘and’ the value of ALL the houses supporting the mortgage-backed securities portfolios for ALL the banks.

    Try to imagine WHY Tim Geithner continues to run the Treasury without the assistance of any under secretaries and realize that the Obama Administration wants as few people involved in this absolute SCAM as possible, because then Congress has fewer people to question in the aftermath of the coming U.S. Economic Implosion that is about to see the U.S. Economy become FAR WORSE. The USA continues to see about 10,000 foreclosures EVERY DAY (story) and the number is escalating 'higher' (story) along with bankruptcy filings (story). The Washington liars are ‘talking up’ the stock markets to lure more money off the sidelines in order to include many more Americans in the coming Economic Collapse that will follow in the footsteps of Timothy Geithner launching and implementing the provisions of this bogus TARP 2 Plan.

    [ame="http://www.youtube.com/watch?v=9nJ7LM3iyNg"]Listen To Gerald Celente![/ame]

    GL,

    Terral
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    Last edited: Mar 15, 2009
  2. Terral
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    Terral Terral Corp CEO

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    Hi Guys:

    The Tim Geithner Housing Plan Saga continues and we have a few details:

    PoliticalTicker

    We are talking about ‘subprime’ mortgages that are ‘now’ in danger of default. What about the millions of Americans who already lost their homes and have already gone into foreclosure and the 10,000 going into foreclosure today? Since when will getting ‘subprime’ mortgages off the bank balance sheet help ‘cleanse’ anything, because as of November 2008 only 6.89 percent of mortgages fall into the ‘subprime’ category (story) and represent less than half of the current foreclosures (43 percent in 2007). This Plan does nothing for the situations where the people are underwater and simply walk away. At an average of 250,000 dollars, and 10,000 foreclosures every day, that equals 2.5 billion dollars every day or 75 billion dollars every month in potential bank losses. That means 500 billion dollars is enough money to buy up all the foreclosed properties in the USA for a grand total of 6.6 months or about half of one year. :0) Then the problem is finding a 'qualified' buyer for the distressed property that might have all the walls knocked out and need 100,000 dollars in repairs. If anybody thinks this kind of Plan will work :)disagree:), then simply go down to the local driver’s license office and stand in line to see the kind of service you should expect. Obama’s Plan still creates no JOBS and still hands billions and billions and billions in ‘borrowed’ dollars to the BANKS, just like TARP 1 under Senor Bushie ‘and’ the 10,000 foreclosures taking place ‘yesterday, today and tomorrow’ will go right on the unbalanced balance sheet . . .

    Now we are going to spend billions and billions and billions of our children’s money and ‘hope’ that something good happens, when the housing market is caught in a deflationary tailspin ‘and’ prices are continuing to go LOWER. Somebody guess what happens when you loan 200,000 borrowed dollars against a house that you ‘know for a fact’ is going DOWN in value to 100,000 dollars in three years? The value of your mortgage-backed security portfolio goes DOWN by 50 percent and you are a loser. If the market is willing to buy up these troubled assets, then we do not need the Gov’t to even be involved. These bankers do not live in boxes somewhere and they all know plenty of investors, but those investors are NOT IDIOTS and they would rather stay liquid until the bottom falls out of the housing market and they can get three houses for the price of one at the Gov’t Auction. Instead, these bankers are looking for ‘new money suckers’ willing to assume possession of these properties, so ‘they’ (the bankers) can sit on the sidelines and remain liquid ‘and’ buy these same distressed properties back at a MUCH lower price later down the road . . .

    75 billion dollars is enough to buy up the combined mortgages of US houses going into foreclosure for just 30 days, which is a drop in the proverbial bucket in relation to the SIZE of this problem. We are not even talking about the 8 Trillion-dollar commercial real estate market (story) that is now in jeopardy, the ‘student loan crisis’ (story) and the Credit Card Crisis (story). And all of that does not even begin to address the continuing saga of the AIG Crisis (links) for being stupid enough to insure everybody headed for a ‘Crisis.’ :0)

    About 30 percent of homeowners in San Diego were under water as of Christmas last year (story), which is up to 20 percent nationally (story) and those numbers are only going to get worse. The stock market is tied to the housing market and the health of the consumer base that all rise and fall together. When you allow too much Outsourcing of JOBS and allow Foreign Nationals to continue ‘displacing’ US workers from identities and JOBS, then what you are seeing (falling markets) is what you get (and what you deserve). Some Americans have deluded themselves into believing that hiring Illegal Aliens is good for business, when in reality they ‘displaced’ good-paying Americans from among their own customers. Obama’s next move will be to make everyone legal, so the next 20 million Illegal Aliens can come here in the middle of the night to steal ‘our identities and JOBS’ from this current batch.

    My prediction is that the housing bottom goes lower and lower with the implementation of this and subsequent Obama/Geithner Housing Plans.

    GL,

    Terral
     

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