Evictions

10/8/2021

A reader asks about it, after offering good background:
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This New York Times article shows a map of the United States with colors that indicate what percentage of the population is behind on rent since the Covid-19 shut-downs.

The federal moratorium on evictions is set to expire soon.

Not only are these renters going to possibly be homeless, but the landlords may end up in foreclosure.

There was a federal fund that was supposed to assist with rent, but the article states that only HALF of the 6.2 Million households behind on rent are even eligible and the application process is onerous. So far, very little of the money put aside for assistance has been paid out.

And the article doesn't even touch on homeowners who are behind on their mortgages due to shut-downs.

QUESTION: The narrative has been that the shut-downs were necessary. Will mass evictions and foreclosures play out on such a scale that more people will realize that the shut-downs were too costly?

I mean, what is worse? Dying of Covid-19 or being homeless?
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I cannot read the article without subscribing (i.e. paying) so I have not. (I won't patronize the NYT. Too biased, slanted and hostile to objective journalism, although I do acknowledge many good exceptions occur, possibly in this case. Overall, it is a massive opinion board & a public relations agency for a major USA political party.
I support their activity one hundred percent, they are exercising a sacred right enshrined in the US Constitution.
I am exercising my same right to abstain.)

No matter, The Committee offers a reply from above human paywalls.

C: It is far better to live than die. This you already know, we understand your ironic intent with the final comment, and we sympathize.

The federal government will now step in, to attempt to soften the blow. Landlords are a far easier political target than mortgage lenders.

Firstly, because much of residential dwelling mortgage activity involves debt re-sold to investors after being packaged into bonds. Halting foreclosures will significantly and negatively affect institutional investors, who have influence and clout well above landlords of residential dwellings.

Secondly, mortgage lending is a vital component of any nation's economy; meddling with lender's abilities to foreclose overdue mortgages will cause a significant withdrawal of lending capacity. This will hurt the economy in material ways.

Thirdly, a significant amount of residential dwelling mortgage debt is held by the US federal government already, making it easier to handle the foreclosure problem than it seems, if solely institutional investors not part of the USA's federal or state governments, are considered.

Watch for more bailouts with newly printed money, and forgiveness, moratoriums and other measures on mortgages, in addition to leases and rentals.

Some observers will see costs of restricting human activity as too high, who did not see things this way previously but the wide spread of opinions & viewpoints will continue. The federal government realizes that bailouts will be a political necessity.

21 Comments

Linda

11/8/2021 00:30:28

I remember many moons ago there was a post here which likened our economy to an engine and money likened to the oil or lubricant (or something like that). The point was that too little oil or too much oil can both cause catastrophic damage to the engine.

The US Senate just approved a trillion dollars worth of spending on a new “infrastructure” bill—on top of the last relief package (not even fully spent yet but it wasn’t enough?!) and now, if I read this post correctly, there’s gonna be more money printed for a second bank bailout?

The money numbers are becoming ridiculously large and incomprehensible.

As for crypto I like Cardano and the philosophy and motivation of Charles Hopkinson who founded/created it. He has a link to Edinbough, and etherium and Bitcoin.

Pierluigi

11/8/2021 00:58:01

Dear Linda,
The sky high numbers in the economy today are a direct consequence of the detaching of some parts of economy engine (finance, money creation/destruction) from the other parts that are linked to real activities. Fiat money and the control of its creation/destruction is at the root. Until now, such process could be managed pretty easily, but in the future the leverage will introduce an ever increasing exposure to perturbations and so called volatility. These perturbations are a fraction of current volumes of "money", so, when the volume reaches a threshold, perturbations inflict irreversibile damage to the general economy. Fiat money also has less and less effectiveness to reduce the inerent stress generated by the damage. At a certain point the trust that "envaluates" money will fade, and the collapse of the money system and the associated economy/finance is guaranteed.

These events are usually very unpredictable as timing, and fast when they happen. The only effective shelter from this kind of collapse is having some fertile land at disposal, and a community of good people around you.

Have a nice day
Pierluigi

11/8/2021 01:53:53

Thanks for your thoughtful response, Pierluigi. I’m blessed to have both (a little fertile land and good people around me). I’ve even begun growing some Moringa trees in my backyard from seed and cuttings along with a few other edibles.
Blessings to you and yours.

alex campbell

11/8/2021 12:53:56

Crypto seems to be the inevitable response to the uncoupling of fiat from the price of gold back when I was a baby. Some commentators say crypto has no inherent value. But this is ridiculous when you see the use cases of Ethereum for example. If any currency is tending to zero value it's surely fiat. Investing in Ethereum or Cardano is like investing in the nascent Internet.

Countries in Latin America will use crypto as legal tender as a means of breaking their slavery to USD. Having USD as world reserve currency has benefitted only one country. Bitcoin has the potential to enrich everyone.

It's crypto vs the Cabal for control of the world. Get your popcorn ready!

Patrick

11/8/2021 14:13:32

@ alex: I doubt Latin American countries would adopt a crypto currency as legal tender, for many reasons. Tax assessment and collection, money supply and regulation of important financial functions such as insurance & banking, are just three.

Fiat money had to be uncoupled from gold; there isn't enough of the metal in the world to be used commercially even setting aside cosmetic use, AND also back paper & electronic money.

Crypto cash is not money, prices are always quoted in another currency. Faith in both cryptos and fiat money will maintain the crypto existence. They provide benefit, the reason they exist.

Scott R

11/8/2021 15:31:56

Linda, can I ask where the best Moringa is sold out of? Any brand or type you like over others or does it matter that much? I need the potassium. ).

12/8/2021 09:16:44

Lots of foods have potassium, I'd say mix it up. You can get Moringa tree powder at most health food stores, shops or markets that specialize in natural and organic ingredients. I've seen it at Whole Foods, for example. It's easy to order on-line also, the website with the name of the really big South American jungle and river.

Umasankat

12/8/2021 12:11:41

Scott R, I buy this brand from Amazon and have been using it for a couple of years. It is an acquired taste but I feel energetic throughout the day.

"Organic Moringa Oleifera Leaf Powder | Perfect for Smoothies, Drinks, Tea & Recipes | 100% Raw From India | 16oz Resealable Kraft Bag (1 Pound) | by FGO"

11/8/2021 15:56:25

@Scott R, I bought my original tree at Home Depot years ago, not knowing anything about the tree. Then I noticed my neighbor has a big one and started researching it especially after TC or Patrick mentioned the tree was brought to earth by ETs (if I remember correctly). It is highly nutritious and there’s a lot of info about The Miracle Tree (as it’s also referred to) online and videos on YT.

11/8/2021 16:43:27

Yes, I think the Committee said the Moth people were responsible for that plant and bringing it here...I wish I could say more about Crypto but I dont know much about it...I will say that I always thought we would be using the old Grocery stores and whatever other buildings or warehouses will be empty for growing and use as a co-op for the neighborhood.

Scott2

11/8/2021 17:28:57

@scottr I'm not sure about tc but I remember Mrs.medhus doing an interview with one with Erik being like a spokesman for them.

Gary

11/8/2021 20:29:55

How do you consume this tree? Eat the leaves and seeds? Cook it? Eat it raw?

Santanu Acharya

11/8/2021 21:39:36

Basically its the seed pod that is eaten. Some people eat others parts as well. We cook it with potato and other items. Here is a video on how we cook it. https://www.youtube.com/watch?v=t6GK5Ix7VYE&ab_channel=BongEats

Umasankar

12/8/2021 12:16:38

Gary, I usually mix 1 teaspoon of moringa powder with 1 cup of lukewarm water and drink it. I tried adding the powder to cereals and mentally milk but the moringa powder taste was over powering the taste of the food hence i stick with juice.

11/8/2021 21:47:58

I have been eating this thing all my life. As the tree is native to India, it is part of our regular diet. Only now I am hearing about its "miraculous" properties.

Lorri

11/8/2021 22:10:02

I have some Moringa capsules.

I assume the plant needs a tropical or sub-tropical climate?

12/8/2021 09:11:55

The tree is native to a former planet in the Andromeda Galaxy. It grows commonly in India and South America (which are similar. Lowlands and some really BIG mountains, 6700 to 8000 meters) The Committee tells me the "mothmen" like Tibet, Northern India, Pakistan, Ecuador, Colombia, Peru and New Zealand because of the geography.

13/8/2021 03:27:57

Well, if it can grow on such high mountains, then I assume I could grow it here someday.

11/8/2021 22:21:23

I eat the tender new shoots of leaves raw. Here’s a good site about Moringa.

https://internationaltreefoundation.org/moringa-miracle-tree/

seeingeyes

12/8/2021 12:50:23

Question for TC...view on Afghanistan as a state, will Talibans rule the country, replace it with an extrem Islamic Emirate, implementing the same regressive policies that they enforced during 1996-2001...
what does the near future look, like 5-10 years from now on in this country?

"It’s Going To Be Really Awkward If The Taliban Takes Kabul By September 11th
One geopolitical observer at a D.C.-based think tank has stated the obvious, but which has remained unsaid in mainstream media coverage: "It’s going to be really awkward (and embarrassing) if the Taliban takes Kabul by September 11th."

To review: at least eleven provincial capitals have now fallen to the Taliban in just a little more than a week, major cities and towns are being handed over sometimes with "hardly a shot fired" as US-trained national forces are largely in retreat, the Taliban are now a mere 90 miles from Kabul as they prepare an inevitable major offensive, they've as of Thursday entered the second largest city of Kandahar in the south, and the US is actually thinking about evacuating and shuttering its embassy. As the Biden White House engages in hand-wringing and dubious half-hearted assurances of "no regrets" - the Taliban appear to be living it up, posting videos of enjoying their spoils.

Taliban at Nimroz Governor's palace after the fall of Zaranj. Zaranj, capital of Nimroz is near border with Afghanistan & strategic in terms of connectivity with Chabahar. pic.twitter.com/2Qnw1fzo0w"

12/8/2021 13:14:16

Scott2 you are correct...lol. I forgot about that...).

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