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Reply #126: we'll get there eventually... [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
dysfunctional press Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-16-10 10:26 PM
Response to Reply #120
126. we'll get there eventually...
once the uber-haves are satisfied that the housing market has hit absolute rock-bottom, they can all scoop up bunches of them, and start renting them out to the displaced homeowners.

it's actually a lot like how they got a lot of cheap farmland to create the giants like adm and con-agra back in the 70's...tell the farmers that the land that has been in their family for generations has become uber-valuable, and they should borrow money against it to modernize their equipment. once the farmers have taken out HUGH mortgages on their farms to buy new equipment- come back and tell them that maybe their land isn't worth as much as first thought...and that means that there's no collateral for the loans, so we'll have to call them back in...oh...you can't pay the loans back right now in one lump sum like the contract you signed says we can ask you to do if for some...unforeseen...reason, your collateral should lose its value...??
well in that case we'll just take your farm...and all that new machinery and call it even...maybe.

it's a class war alright- and we haven't won any battles since fdr died.
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