U Eviction is Just Another Word for Extinction
The Federal Moratorium on evictions is ending at the end of the month. Like last month, it could always be extended again.
It will be extended until the most opportune moment to do the most damage to the economy. Why? Vandals are in charge in D.C.
This was always a misguided program but was an integral part of destroying the relationship between lender and lendee, renter and landlord. The government comes in all humanitarian-like to suspend payments on FHA-backed mortgages, which are all of them post-Lehman Bros., after locking people in their homes for a year while blocking access to therapeutics which would have mitigated the worst of COVID-19’s effects on the society.
We know this now. Vaccination is patriotic. Stay home on the dole wearing a mask during sex for the greater good. If not, you’re a COVIDiot.
But, let’s leave all that aside for a minute. People have been terrorized and many of them are still not thinking straight, regardless of why and how they were driven to that state.
Moreover, I’ll stay away (for once) about any conspiracy surrounding this issue. Because the argument actually works better if we don’t go there. Let’s assume the intentions of people we know to be liars had the best of intentions and run the scenario in housing out.
So, while interrupting the normal ebb and flow of capital because of extreme circumstances may have felt like the right thing to do, the consequences of that policy are wholly predictable given the deplorable state of our politics. Again, even without any personal accusations of malice by individuals in decision-making positions, we still arrive at the outcome we have today.
Everyone on both sides of the residential debt divide is staring at a step-function reset of their cash flow when the eviction moratorium ends and that step-function will be a doozy, down.
Then when you think through what it is that Davos is trying to do with the Great Reset, which they have stated forthrightly, it is very clear why this moratorium has been extended until this summer, far beyond when it should have been.
And it has nothing to do with trying to keep Joe Biden’s poll numbers from collapsing by buying the votes of renters.
It has a lot to do with forcing both landlords and debtors into bankruptcy simultaneously, and do so when the bulk of the next round of government spending can be doled out to those closest to the Washington laundromat.
Martin Armstrong is right to bring up this issue but I don’t believe he’s thought through the full effect of the policy:
Those in power are just incompetent of ever managing the economy. Once they stuck their foot in the door, if they take it out and there is a wave of foreclosures, they will be to blame. So what do they do then? Put the foot back in the door and suspend all mortgages because they have an election in 2022?
Assuming incompetence over malice isn’t a bad rule of thumb when it comes to certain things. But in the
Article from LewRockwell