The Mortgage Horror Is Back: No Lessons Learned 05.08.15

The deformation of the original intent behind the creation of the FHA. Mortgages again being handed out to all-and-sundry, giving rise to a new series of scandals and outrages to be resolved over the next ten years. I cite some real-life examples. And the Fed is almost totally to blame. A new study of how robots will shortly eliminate human jobs. The predictions are very dire. Fanciful stories which used to be perceived wisdom: an example from Greek mythology. Bankruptcies rising vertiginously again, reaching a five-year high. Australia proposes to tax money in bank accounts! Publishing falling unemployment numbers while out-of-labor-force data rise to a record 93 million working-age Americans is an insult to your intelligence. One wonders how Bernanke will handle having his Great Depression theories exposed for the tripe they are, as the economy ignores his solutions and continues to degenerate.