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Socialized Housing Manifesto

Posted by Larry Doyle on March 26, 2010 10:36 AM |

Thank you to our friends at 12th Street Capital for sharing a sneak peek of Uncle Sam’s release of his new “Socialized Housing Manifesto.” (Click on the image to access pdf document.)

What is the one word that Uncle Sam is clearly trying to emphasize throughout the 4-page release? Responsible. Who the hell is Uncle Sam to define who and what is responsible or not? How can one irresponsible entity, that being the federal government, deign to define a measurement of responsibility for American citizens?

Rest assured, the unintended consequences of this program will guarantee that our sluggish and declining home values will exacerbate in the process. Why? This program will change the behaviors of untold numbers of American citizens, but Uncle Sam will discount that. He’s too stupid, and too much of a liar, to know otherwise.

Make no mistake, this mortgage principal reduction program is nothing more than another step in Obama’s MASSIVE goal to redistribute wealth.

What’s next on the redistribution agenda? Watch out for your retirement accounts. Don’t think for a second that Uncle Sam will not take a run at those. Watch out folks . . . the slippery slope is getting steeper and more treacherous by the day!

Comments, questions, and constructive criticisms, especially from those who disagree, are encouraged and appreciated.


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  • kd

    From the press release…..”Our housing initiatives must balance the need to help responsible homeowners struggling to stay in their homes, with the recognition that we cannot and should not help everyone. The President has said: “We can’t stop every foreclosure.” And in fact, we can’t maintain the balance described above if we assist every borrower. For example, investors and speculators should not be protected under our efforts, nor should Americans living in million dollar homes or defaulters on vacation homes.” The lines are being drawn…..and yes, you are now part of the evil empire….

  • Matt

    AMEN Larry – couldn’t agree with you more on this. For those of us who have saved, paid off all of our debts responsibly, and lived within our means, WHAT’S IN IT FOR US????? Why are we being punished for doing those things? Shouldn’t we in some way be rewarded for doing those things? This is very upsetting and frustrating. Does the government want us to all just stop paying our mortgage, rack up a ton of credit card debt, and wait for a bailout? There have got to be consequences for consumers and especially for the banks for making poor financial decisions if we are going to have capitalism. I guess the government doesn’t care if we have capitalism or not.

    • LD


      America learned all it needed to know about President Obama on the front lawn of Joe the Plumber back in October 2008……it’s all about “let’s spread the wealth around.”

  • Karl M

    Might you be looking for this Manifesto, ……

  • mountainaires

    Wow, LD, this is the first time I’ve really seen you so passionate about an issue! Good blog post, my feelings exactly! Loved it.

    It’s breathtaking. Was reading at Creditwritedowns last night, and basically, everyone is aghast at the idea of this–except of course, the administration.

    They’re so brazen it’s breathtaking.

  • fred

    I wish the American taxpayer had your passion on these issues. All it would take is about a two week consumption strike to get the government’s attention. But our leaders have calculated that as long as they can provide Wall St. with free funding to drive the stock market higher, people will buy the rhetoric that things are getting better.

    Either way, the game of wealth redistribution has about run its course. The redistribution is mainly coming from the middle class, and flowing in both directions at this point. Our middle class isn’t healthy, hasn’t been for a long time. They’ve been overtaxed, over-regulated, encouraged to over-spend and over-consume. Our workers have been rendered unable to compete in global markets, while being deluded by ever lower interest rates and asset bubbles into thinking that their finances were okay.

    The American middle class has no savings and inflation is about to heat up as emerging economies develop a real middle class with an appetite for global resources. There are really only two options left, slash government spending or go after the wealthy Wall Street elites who’ve been calling the shots. I don’t know what happens next, but it’s coming up fast.

  • We already have socialized housing in the U.S., and it is expanding in leaps and bounds due to governmental and developer collusion. It is called HOAs, where Boards of Directors can seize your house for painting it the wrong color, or failure to pay added property taxes (uncredited in every state throughout the nation) in the form of HOA assessments.

    The British law of servitudes is taking precedence over the U.S. “free use of land” provisions of our intended form of land ownership in leaps and bounds, and in almost every major metropolitan city in the nation.

    It is a passing down of added property taxes (while collecting full property tax revenues) for residential streets, street lighting, and a host of other costs so that the cities and states can gain added discretionary revenue.

    And Obama’s little “refinance” gimmick is so that more and more Americans will get sucked into those loans that are also including riders on maintenance standards now so that banks can seize your property also if you fail to keep up with those HOA dues and costs, or their over the top maintenance and “architectural” standards. Paint your house blue in a “beige only” neighborhood, and you’ll lose that home in the lawsuit by the HOA lawyer.

    You don’t know the half of it, which is why most of the boomers are losing their homes, and most wouldn’t get sucked into another home purchase since absolutely nothing has changed regarding the terms of those loans as “flex” loans (many of which in the West and Southwest weren’t even based on the U.S. currency, but the British LIBOR).

    Unbelieveable that the media is so silent on this, but since Wall Street is their “employer” also, just goes to show how truly corrupted both our politicians, and their media lackeys truly are.

  • And apparently you are one of those as a former Wall Street insider – do you get out to the West or Southwest much?

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