The Federal Reserve and U.S. Treasury are teaming up to ‘soak’ the Fed’s Primary Dealers and other major Wall Street corporations with ‘hot’ liquidity infusions…
Meanwhile, millions of U.S. citizens in Main Street America settle for ‘crumbs.’
NPR April 17, 2020: Thousands of Cars Line up at One Texas Food Bank as Job Losses Hit Hard
Ten thousand cars waited hours in line for emergency food aid in San Antonio last week. A drone photograph of the packed parking lot went viral. Two thousand more showed up for another distribution today.
…………………………………………………………………….
ZeroHedge, Apr 21, 2020: Total home loans in pandemic-induced forbearance stand at 5.95%, an increase of 60% on the week as roughly a million more homeowners applied for help – bringing the total number of distressed borrowers under the program to roughly 3 million, according to the new Forbearance and Call Volume Survey published by the Mortgage Bankers Association.
“With over 22 million Americans filing for unemployment over the past month, homeowners are contacting their mortgage servicers seeking relief, leading to a sharp increase in the share of loans in forbearance across all loan types,” said MBA’s senior VP and chief economist, Mike Fratantoni. “Mortgage servicers continue to receive a very high level of forbearance requests….. With no end in sight to the COVID-19 pandemic and the unprecedented economic fallout which has followed, Fratantoni thinks that forbearance requests “will likely rise again as we approach May payment due dates.”
____________________________________________
The Federal Reserve had a perfect opportunity, with the massive liquidity flows that it sent surging through its various funding facilities during the last financial crisis, to help individual American families unburden themselves of trillions of dollars in household debt, and create new opportunities for self-reliance and financial security.
They chose to do nothing of the sort. And here we are today with American families unable to finance even the most basic human needs: food and housing.
Now is the time to institute the world’s most powerful economic acceleration plan – and get America back on track for financial health and long-term economic growth.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$75,000 per U.S. citizen – Leviticus 25 Plan 2021 (3640 downloads)
_____________________________________________________
April 2020 quote: “No society can surely be flourishing and happy of which by far the greater part of the numbers are poor and miserable.” – Adam Smith