Government-driven solutions for America’s economic maladies are doing nothing to provide long-term solutions. In fact, they appear to be driving America deeper and deeper into the hole….

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CBS: With moratorium ending, more than 8 million households face foreclosure or eviction

By Khristopher J. Brooks

June 19, 2021 / MoneyWatch /  https://www.cbsnews.com/news/eviction-foreclosure-moratorium-ending-8-million-households/

Excerpts: 

Even as the nation rebounds from the coronavirus pandemic, more than 2 million homeowners are behind on their mortgages and risk being forced out of their homes in a matter of weeks, a new Harvard University housing report warns.

Most of the homeowners at risk of foreclosure are either low-income or families of color, said researchers who published the 2021 State of the Nation’s Housing report. Congress has dedicated $10 billion to help homeowners get caught up on payments, but it’s unclear if that funding will make it to families before mortgage companies begin sending out foreclosure notices, researchers say.

Separately, millions more renters are “on the brink of eviction,” the Harvard researchers found. Census data show that 6 million households are still behind on rent and could face eviction at the end of June, when federal eviction protections expire. 

The Center for Disease Control order halting some evictions, and federal limitations on foreclosures for federally-backed housing, both expire on June 30. Housing advocates have pushed for the Biden administration to extend both, but there is no indication an extension will happen.

“With so many renters in financial distress, there are concerns about an impending wave of evictions,” the Harvard report said.

More than 7 million homeowners took advantage of the foreclosure moratorium passed as part of the Coronavirus Aid, Relief and Economic Security Act last spring. The provision was later extended by the Biden White House. As of March 2021, most of those homeowners have started repaying lenders and some are even up to date with their lenders. But that leaves about 2.1 million still behind on their mortgages, researchers said. Of that number, about 325,000 homeowners have a Federal Housing Administration loan and are behind at least 60 days. They are most likely people of color, the U.S. Department of Housing and Urban Development said Wednesday. 

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Solution: A Federal Reserve Citizen’s Credit Facility – to power American families up out of poverty and eliminate dependence upon government social welfare programs.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2022 (3782 downloads)

America is drowning in debt – Household debt, Corporate debt, Government debt. And it’s going to keep getting worse.

And there will be a day of reckoning…. unless we come up with a dynamic new solution.

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Pandemic Hangover: $11 Trillion in Corporate Debt – WSJ

Stressed companies piled on debt as interest rates plummeted, but could face a reckoning in the next economic downturn

The Wall Street Journal / Jun 14, 2021   –  Excerpts:

Before the pandemic, U.S. companies were borrowing heavily at low interest rates. When Covid-19 lockdowns triggered a recession, they didn’t pull back. They borrowed even more and soon paid even less.

After a brief spike, interest rates on corporate debt plummeted to their lowest level on record, bringing a surge in new bonds. Nonfinancial companies issued $1.7 trillion of bonds in the U.S. last year, nearly $600 billion more than the previous high, according to Dealogic. By the end of March, their total debt stood at $11.2 trillion, according to the Federal Reserve, about half the size of the U.S. economy.

In a May report, the Federal Reserve noted that, by one measure, investors had rarely been compensated any less for the risk of holding corporate bonds, even as stock valuations were in line with historical averages. The report concluded that “vulnerabilities arising from business debt remain elevated.”

Some analysts say investors are willing to accept such low interest rates on corporate bonds not only because of the brightening economic outlook but because of the Fed’s aggressive response to the pandemic, which they think could to be repeated in future recessions.

Others are doubtful that even if the Fed announced that it would buy corporate bonds again, it would provide the same jolt to the market it did last year. They say that the normal risks of debt still apply, and that corporate bond investors could face significant losses in the next economic downturn.

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The #1 goal for America should be to enact the type of economic acceleration plan that has the power to properly, and in an orderly manner, eliminate massive quantities of ‘ground level’ debt – and restore financial health and economic liberty to American families.

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

$90,000 per U.S. citizen – Leviticus 25 Plan 2022 (3782 downloads)

America needs a powerful, new, ‘outside-the-box’ economic acceleration plan – or we are ‘doomed.’

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Government Accountability Office (GAO) Report, Mar 23, 2021: https://www.gao.gov/products/gao-21-275sp

Absent Changes, Continued Spending and Revenue at Unsustainable Levels Will Pose Serious Challenges in the Future

The unsustainable fiscal path strains the federal budget and contributes to growing debt. According to CBO, high and rising federal debt increases the likelihood of a fiscal crisis and could lead to a large drop in the value of the dollar or to a loss of confidence in the government’s ability or commitment to repay its debt in full.

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There is precisely one economic acceleration plan with the raw power to eliminate America’s massive debt overhang, restore economic liberty, reignite a powerful, free market economic growth cycle, reestablish a citizen-centered health care system, and lift millions of U.S citizens up out of poverty.

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

$90,000 per U.S. citizen – Leviticus 25 Plan 2022 (3777 downloads)

Five short years ago, U.S. citizens got ‘hooked’ by the IMF for a $3 billion transfer to help make Valdimir Putin ‘financially healthy.’

U.S. citizens received… ‘zilch’ for their financial needs.

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Ukraine owes Vladimir Putin $3 billion, and Putin is demanding payment.

Bank of America Merrill Lynch maintains that the IMF will be stepping in to provide Ukraine with the requisite funds to make Vladimir Putin ‘whole,’ and to de-stress the situation:

The $3bn Russian bond is included in debt restructuring, but Russia will not participate in debt restructuring and will either be paid $3bn from reserves in December or there will be a political decision to agree on an extension, likely without haircuts. We believe the $3bn bond is likely to be classified as sovereign debt and the IMF would likely be forced to pay it (as a holdout) in order to continue the program in December.   Source:  ZeroHedge 8-28-15  Putin To Get $3 Billion From US Taxpayers After Ukraine Bond Debacle

And so, here we have the U.S. government, funneling U.S. taxpayer dollars through the IMF fire-hose to Russia’s Vladimir Putin … to help make Putin ‘financially healthy.’

It is now time to grant U.S. citizens the same access (to their own money) that was so graciously provided to Vladimir Putin – to allow U.S. citizens to also become ‘financially healthy.’

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2022 (3776 downloads)