2017-08-21 061aaa
America's climate response is dictated by desires for genocide:
“When the survival of the planet is at stake, calls for moderation and compromise aren’t a mark of adult politics — they’re a threat to civilization.”
“The Nihilism of Moderation”
“How The Pandora Papers Actually Work”
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“Borrowers reimburse banks for the cost of their insuring the loan against loss in the event of borrowers foreclosure. The govt plays the traditional role of ‘insurance company’ and the beneficiary, the party insured, is the lender\owner of the loan. Mortgage insurance helps lenders bear the risk of making loans to borrowers who they may otherwise reject because of the borrowers’ personal financial situation.
So VP Harris announces govt is going to lower the cost of premiums in an attempt to help borrowers build financial security through home ownership.
Is this the best way to help the nonrich with their financial security?
In a year, 2008. In a word dent peonage. And in phrase “housing is the preferred bait of the predator state.
In 2008 millions of Americans, both insured and uninsured, were wiped out financially because of homeownership. It isn’t just 2008 either as foreclosure (loss on the equity in your home) happens constantly for a variety of reasons. People’s personal financial situation is reflected in their mortgage performance.
Homeownership fuels the multiplication of consumer and business consumption. Another lawnmower and sofa and another order for plumbing and roofing supplies. Multiplication of consumption via housing fuels the amount of govt tax revenues from the nonrich. And it fuels wall st. But is the borrowers‘economic situation necessarily improved over the life of the 25-30 year mortgage? No, not really. That comes from enhanced wages, healthcare, and business resiliency (businesses that don’t close the instant a economic downturn occurs because all the wealth generated by the business has been transferred into personal hands effectively leaving behind a highly disposable shell of a company)
What the pretty lady with the warm [VP Harris] smile isn’t telling you is the lender has already sought to compensate themselves for the risk of default through their pricing of the loan (eg rate, closing costs, fees on other bank services, etc) and that mortgage insurance is to some extent overkill.
Also, it isn’t correct, but for better or almost always the worse, home prices have a nasty habit of reflecting the financing used to buy them. The price of the home departs from its true economic value in order to reflect how much money the borrower can pay on a monthly basis. So if loan terms are designed to reflect a borrower becoming increasingly able to shoulder a higher payment in the future by offering inordinately small monthly payments in the early years of the loan, then home prices (not necessarily values) go up. The borrower over pays for the house with the aid of a ‘neutron bomb loan’ (ie blows the borrower up but leaves the building standing,… but enables the bank to still earn up front fees and commissions)
“Mortgage Insurance: What It Is And When It’s Required”
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DEMOCRATS!
“Health Insurance Whistleblower: Medicare Advantage Is "Heist" by Private Firms to Defraud the Public”
“Many of the nation's largest health insurance companies have made billions of dollars in profits by overbilling the U.S. government's Medicare Advantage program. A New York Times investigation has revealed that under the Advantage program, health insurance companies are incentivized to make patients appear more ill than they actually are. Some estimates find it has cost the government between $12 billion and $25 billion in 2020 alone. We speak with former healthcare insurance executive Wendell Potter, now president of the Center for Health and Democracy, who says Medicare Advantage will be recognized in years to come as the "biggest transfer of wealth" from taxpayers to corporate shareholders, and blames the lack of regulation over the program on the "revolving door between private industry and government." “
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