Foreclosure Starts Increase for Third Straight Month in July, Bank Repossessions Continue Decline. -Realtytrac, August 6, 2012

 Big Government ‘Central Planning’ is not solving the financial crisis in America.

Realty Trac – August 6, 2012 Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 191,925 U.S. properties in July, a decrease of 3 percent from the previous month and a decrease of 10 percent from July 2011. The report also shows one in every 686 U.S. housing units with a foreclosure filing during the month.“U.S. foreclosure activity continued its uneven descent in July as the overall numbers declined on an annual basis for the 22nd straight month, but properties starting the foreclosure process increased on an annual basis for the third straight month,” said Daren Blomquist, Vice President of RealtyTrac.

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Again… “properties starting the floreclosure process increased on an annual basis for the third straight month.”

July 2012:  “…one in every 686 U.S. housing units” is under a foreclosure filing.

The U.S. Government has thrown trillions of dollars ‘in’ to stem the tide of economic contraction.  And hundred of thousands of Americans are still heading into the foreclosure process on their homes.

It is time for a new approach:  The Leviticus 25 Plan

“…we are still in the throes of a debt deleveraging cycle that first engulfed the housing and consumer sectors and is now attacking the government sector in country after country.” -David Rosenberg, Gluskin Sheff

More from Rosenberg: “It is not only Europe. China and the U.S.A. too.  There is still far too much debt at all levels of society relative to the world’s capacity to service it.  This is a critical reason why government and central bank policies aimed at fighting traditional recessions in the past have so far been ineffective and now we have monetary authorities dipping into the toolbox of unconventional balance sheet expansions and contortions.”

Europe for some reason continues to believe that a debt crisis can be fought with more debt. Maybe because they think this strategy has worked in the United States. But it hasn’t and the U.S. is either recession-bound or at best left with a listless economy, and also will likely soon face its own existential moment from a fiscal crisis perspective if it doesn’t get its act together. If left unchecked, the day will come when the entire revenue base will be absorbed by interest expense, defense, health care and social security.

The numbers vary by the hour and the data source. but it looks like Q2 operating EPS of S&P 500 companies is on track for a 0.5% YoY dip — by far the weakest since the recovery began three years ago (and well below consensus views of +3% a month ago) . The big problem !s revenues which are coming in just 1.2% ahead of year-ago levels and only 43% are beating their sales targets the lowest since the first quarter of 2009 (only the fourth time in the past 10 years that the beat-rate was under 50%).

The other problem is guidance. The WSJ cites research that finds that 40 companies have already warned about Q3 versus only eight who have raised guidance. We have not seen a gap like this since the onset of the tech wreck in the second quarter of 2001. The bottom-up consensus is now looking for just +3.3% for YoY EPS growth for Q3 — last October, the analysts collectively were calling for 14.5% for the quarter….

We have governments battling a debt deleveraging cycle of epic proportions, and by definition, these phases involve debt paydowns, defaults, and rising savings rates — a highly deflationary brew…. This is no time for denial.

(Source: http://www.zerohedge.com/news/david-rosenberg-headless-chickens-topless-americans-and-bottomless-europeans)

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Again – note the obseration by Rosenberg:  “There is still far too much debt at all levels of society relative to the world’s capacity to service it. This is a critical reason why government and central bank policies aimed at fighting traditional recessions in the past have so far been ineffective…”

It is time to deliver credit extensions direct from the Federal Reserve to American citizens – with The Leviticus 25 Plan.

The Leviticus 25 Plan will effect massive debt reductions at the family level.  It will re-ignite the economy, improve productivity, and reduce the scope of government.  It will set us on course to restore individual freedom and liberty for Americans.