Tax Revenues ‘Cratering,’ Sending an ‘S.O.S.’ – Time Now to Activate The Leviticus 25 Plan.

“In this present crisis, government is not the solution to our problem, government IS the problem. It isn’t so much that liberals are ignorant, it’s just that they know so much that isn’t so.” – Ronald Reagan

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Federal Taxes Are Sending An S.O.S Signal

ZeroHedge, Dec 15, 2020 – Excerpts:

Submitted by Joseph Carson, former chief economist at Alliance Bernstein

Data on federal tax receipts paints a grim picture of the state of the US economy. Weak tax receipts are sending a signal of economic distress. Congress needs to act with urgency and pass federal support legislation to help broad parts of the economy.

Federal withheld income tax receipts represent hard contemporaneous data. Tax receipts are current and complete, unlike other economic data series such as household and payroll employment, which are based on a sampling of a small percentage of the working population and businesses.

The pandemic hit the economy in March, triggering widespread job loss and partial and full closing of many small businesses. In November, 9 months into the pandemic, federal gross withheld income tax receipts were off 13% from a year ago. That is roughly in line with the average decline of 15% recorded over the 9-month span, March through November.

Checking the tax data records from the US Treasury the decline in tax receipts over the last 9 months is the largest on record. The only comparable period is the 14% drop in 2009 during the Great Financial Recession.

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Congress has been negotiating for several months a second federal stimulus package. But political fighting over the scale and who gets support and who doesn’t has so far stymied a bi-partisan deal. I don’t support big government, but the federal government is supposed to step up during a crisis.

Taxes are sending an S.O.S signal, saying that significant parts of the economy are experiencing severe distress. Anyone in Congress that is on the fence over whether a second stimulus bill is necessary needs to look no further than the tax data.

Investors have been patient, banking on Congress to build a bridge of fiscal support until medical science develops a vaccine. Medical science has done its job, but Congress has not. If Congress doesn’t act soon the speculative gains in the equity markets could quickly reverse in scale.

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Congress “stepping up” with big-government stimulus programs has done nothing to solve any of America’s underlying problems, namely massive debts, ever-growing dependence on government, stifling bureaucratic business environment, and eroding economic liberty.

It is time for a powerful new comprehensive/decentralizing plan to get America back on track. It is time to abandon the big-government model and return to a citizen-centered, citizen-driven economy.

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 2021 (3896 downloads)

Government Programs ‘Riddled’ with Fraud. $2.3 trillion in ‘Improper Payments’ since 2004. Solution: The Leviticus 25 Plan.

Massive mismanagement by government – and nobody in Washington has a plan to fix it. Add in about $350 billion in interest charges to ‘carry’ that debt over the course of those 16 years, and you end up with a tidy sum of $2.6 trillion.

There is a way out of this mess….

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Feds Admit $2.3 Trillion In Improper Payments

ZeroHedge, Dec 5, 2020 / Submitted by Adam Andrzejewski,

Excerpt:

Since 2004, twenty large federal agencies have admitted to disbursing an astonishing $2.25 trillion in improper payments. Last year, these improper payments totaled $175 billion – that’s about $15 billion per month, $500 million per day, and $1 million a minute.

But what exactly is an improper payment?

Federal law defines the term as “payments made by the government to the wrong person, in the wrong amount, or for the wrong reason.”

When people or companies receive incorrect payments, it erodes trust and hinders the government’s ability to finance everything from defense to health care.

Recently, auditors at OpenTheBooks.com published a 24-page oversight report analyzing why, how, and where federal agencies wasted our tax dollars last year.

Here are the top 10 takeaways regarding improper and mistaken payments by the 20 largest federal agencies in 2019:

1. Total Mistakes: $175 billion in estimated improper payments reported by the 20 largest federal agencies, averaging $14.6 billion per month – Total (FY2004-FY2019): $2.25 trillion.

2. Worst Programs – $121 billion (approximately 69 percent) in improper payments occurred within three program areas – Medicaid, Medicare, and Earned Income Tax Credit.

3. Claw Back – only $21.1 billion of the $175 billion improper payments during 2019 was recaptured — that’s only 14 cents on every dollar misspent. Five-year total: $103.6 billion recaptured/ $747.7 billion improperly spent

4. Biggest Offenders:

5. Dead people: $871.9 million in mistaken payments were made to dead people. Medicaid, social security payments, federal retirement annuity payouts (pensions), and even farm subsidies were sent to dead recipients. Root cause: failure to verify death. Four-year total: $2.8 billion

6. Ancient Americans: Six million Social Security numbers are active for people aged 112+; however, only 40 people in the world are known to be older than 112 years of age.

7. Worst Upward Trend: Medicaid and Medicare improper payments soared from $64 billion (2012) to $88.6 billion (2017), and, in 2019, to $103.6 billion. Five-year total: $456 billion

8. Best Turnaround: In 2018, the Education Department overpaid $6 billion to college students receiving PELL grants and student loans. In 2019, improper payments were reduced to $1.1 billion – an 85-percent reduction.

9. Improper Income Redistribution: $17.4 billion in improper payments by the Internal Revenue Service (IRS) within the Earned Income Tax Credit program. 25-percent of all payments were improper. Five-year total: $84.35 billion

10. Purchasing Power: What can $175 billion buy? Last year, the federal government wasted the equivalent of a full year of all federal salaries, perks, and pension benefits for every employee of the federal executive agencies. A stunning example of institutionalized incompetence.

Justifications for their improper payments vary by agency.

For example, Veterans Affairs (VA) says they are working on the problem and, yet, have a long way to go:

“During FY19 testing for improper payments, VA found that many root causes of improper payments still have not been remediated. While the VA is actively working corrective actions to remediate these complex problems, VA completes its statically valid testing for Improper Payments Elimination & Recovery Act) one year in arrears…”

The Internal Revenue Service (IRS) flat out admits that their improper payments ($17.4 billion FY2019) will continue:

“… the IRS does not have the resources to audit every return claiming return tax credits… Without legislative change to greatly improve effective tools to administer these credits, the improper payment rate will not drastically change.”

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Government programs, of all types, are riddled with fraud. They are all open invitations for graft, and mismanagement, and outright political payoff schemes.

And they are driving us deeper and deeper into the national debt hole. The U.S. Dollar will eventually be hit with a gut-wrenching depreciation phase – which will, in all likelihood, lead into a Central Bank Digital Currency global monetary system. And that will be an outright disaster to the cause of freedom and liberty, and self-determination for all citizens.

The Leviticus 25 Plan is a powerful counter-force against these pressures.

It will reduce dependence on government programs and eliminate massive amounts of government spending. It will generate enormous tax revenue gains for state, local, and federal government agencies – and set America back on track for annual budget surpluses.

Te time is now – to activate the most powerful economic acceleration plan in the world.

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 2021 (3890 downloads)

December 2020: Millions of Americans set to lose Federal Aid Programs, while billionaires continue to reap benefits. Solution: The Leviticus 25 Plan.

America does not need, and should not seek after, a grand new socialist plan for ‘wealth redistribution. What America needs is to grant U.S. citizens the same direct access to liquidity flows that have been so generously provided to major banks and other ‘connected’ large corporations…

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The Daily Shot, Nov 30, 2020: Many Americans are about to lose their emergency unemployment benefits, widening the “K-shaped” recovery gap.

Source: Statista

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ZeroHedge, Nov 30, 2020: American billionaires haven’t been just immune to the pandemic, they have been thriving in it, drastically increasing their collective wealth. An analysis by Chuck Collins at the Institute for Policy Studies found that American billionaires have been their wealth grow by $1 trillion since March of this year – more than 34 percent. That was not the case during the 2008 financial crisis when it took Forbes’ 400 richest people three years to recoup their losses from the Great Recession. Collins’ findings highlight a wealth gain by a mere 650 individuals that, as Statista’s Niall McCarthy notes, seems obscene at a time when nearly 7 million Americans are at risk of eviction when moratoriums expire at the end of the year.

Infographic: U.S. Billionaires Gained $1 Trillion Since The Pandemic Started | Statista

Note – The billionaires listed above, and many, many others in the ultra-wealth class have benefited from massive amounts of direct government subsidies, outright bailouts, and various forms of specially tailored tax breaks.

Warren Buffett, for example, has owned (or currently owns) significant stakes in Wells Fargo, Goldman Sachs, JPMorgan Chase, Bank of America, BNY Mellon, and U.S. Bancorp. The Federal Reserve (through special lending facilities and discount window lending) and the U.S. Treasury (through TARP and targeted stimulous programs) have transfused these large banking interests with hundreds of billions of dollars.

Elon Musk’s Tesla, has receive subsidies of approximately $2.44 billion via 109 ‘awards’ involving “82 federal grants and tax credits as well as 27 state and local awards.”

According to subsidy-tracking by Propublica, “JPMorgan Chase was among the eight large U.S. banks to receive the Treasury Department’s initial round of capital investments — money described by Treasury officials not as a bailout, but rather as funds to help bolster “healthy” banks in tough times.”

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It is now time to “help bolster” ‘healthy American families going through their own ‘tough times.’

U.S. citizens deserve nothing less than to be granted the same opportunity for direct liquidity extensions that were provided, in massive amounts, to Wall Street’s financial sector, on an ongoing basis over the past 12 years.

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 2021 (3884 downloads)

Credit Default Swaps, Round 2: Default Storm Clouds Billowing Up. America needs a powerful new ‘economic acceleration plan.’

Corporate Finance Institute: The 2008 Financial Crisis

Before the financial crisis of 2008, there was more money invested in credit default swaps than in other pools. The value of credit default swaps stood at $45 trillion compared to $22 trillion invested in the stock market, $7.1 trillion in mortgages and $4.4 trillion in U.S. Treasuries. In mid-2010, the value of outstanding CDS was $26.3 trillion.

Many investment banks were involved, but the biggest casualty was Lehman Brothers investment bank, which owed $600 billion in debt, out of which $400 billion was covered by CDS. The bank’s insurer, American Insurance Group, lacked sufficient funds to clear the debt, and the Federal Reserve of the United States needed to intervene to bail it out.

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The “Many investment banks” noted above received hundreds of billions of dollars through the Fed’s ‘Secret Security Lifelines,’ to include: Morgan Stanley, Citi, Goldman Sachs, JP Morgan, Bank of America, Merrill Lynch, Credit Suisse, Deutsche Bank, HSBC, Société Générale, RBS, Barclays, BNP Paribas, UBS, and many others.

An important review…

As the banking crisis intensified in the Fall of 2008, with major banking institutions assuming, or on the verge of assuming, the classical ‘snorkel’ position (‘underwater’ status), the Federal Reserve ran quickly to the rescue with ‘secret liquidity lifelines” (Bloomberg Uncovers the Fed’s Secret Liquidity Lifelines … 8-22-11).

The Fed substantially eased some important collateral rules for banks, “meaning that banks that could once borrow only against sound collateral, like Treasury bills or AAA-rated corporate bonds, could now borrow against pretty much anything – including some of the mortgage-backed sewage that got us into this mess in the first place….  ‘All of a sudden, banks were allowed to post absolute [expletive deleted] to the Fed’s balance sheet,’ [according to] the manager of the prominent hedge fund.” (Source: Bailout Hustle, Matt Taibbi).

The Federal Reserve invented the following credit “facilities” to fire-hose liquidity out to major banks and brokerage firms:

Primary Dealer’s Credit Facility

Term Securities Lending Facility

Temporary Liquidity Guarantee Program

Commercial Paper Funding Facility  

Term Auction Facility    

Public/Private Investment Program 

And, here we go – from the top: Bloomberg – November 2011

Top recipient – Morgan Stanley 

Morgan Stanley, facing a crisis of confidence after the fall of Lehman Brothers Holdings Inc., got a $9 billion injection from Japanese bank Mitsubishi UFJ Financial Group Inc. and agreed to take a $10 billion bailout from the U.S. Treasury to shore up capital. As hedge-fund customers pulled funds out of the New York-based firm, it plugged the hole with $107.3 billion of secret loans from the Federal Reserve’s Primary Dealer Credit Facility and Term Securities Lending Facility, set up earlier in the year to supply brokerage firms with emergency financing.”

Peak amount of Debt on 9/29/2008: $107B

And now ‘Round 2’, another CDS default bonanza, is looking increasingly likely…

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The Daily Shot, October 27, 2020Credit: CDS auction recoveries (defaulted debt) have been extremely low this year, dominated by leveraged retailers with broken business models. Cov-lite debt structures exacerbated the losses.

Source: @markets Read full article

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America needs a plan that re-targets Fed liquidity infusions to flow directly to U.S. citizens.

NOT the global banking confederation and Wall Street’s Financial Sector.

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 2021 (3858 downloads)

US Budget Deficit Explodes to $3.1 Trillion. A Simple, Astoundingly Powerful Solution to Bring America Back: The Leviticus 25 Plan.

US Budget Deficit Triples To Record $3.1 Trillion In 2020 As US Spends 90% More Than It Collects

ZeroHedge, Oct 16, 2020 – Excerpts:

Those who have been following the record surge in US public debt (excluding the roughly $100 trillion in off-balance sheet obligations), which exploded by $3 trillion in the three months following the covid shutdowns and which just hit an all time high $27.1 trillion this week, will be all too aware that the US budget deficit this year – and every year after – will be staggering.

https://www.zerohedge.com/s3/files/inline-images/total%20debt.jpg?itok=ndL3ZcEy

What all this means, is that for the full 2020 which ended on Sept 30, the US spent $6.552 trillion and collected just $3.420 trillion, which also means that outlays were a record $3.1 trillion, 91% higher than receipts, which also includes the $9.7BN received last month and $81.9BN YTD in deposits of earnings by the Fed.

https://www.zerohedge.com/s3/files/inline-images/statement%20sept%202020%20fiscal.jpg?itok=MDLn3OYd

And since outlays equal receipts plus the deficit, this means that for the fiscal 2020, the US budget deficit more than tripled to a record $3.1 trillion (compared to “just” $984 billion in 2019), higher than at any other time in US history and unfortunately due to “helicopter money” it is unlikely that the exploding deficit will ever shrink again until the monetary system is overhauled… or collapses.

At some point the market will realize that this insanity is simply unsustainable, something which the CBO pointed out in its latest long-term debt forecast.

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There is a simple, yet astoundingly powerful economic acceleration plan that can solve our debt-plagued dilemma.

It is centered upon eliminating a massive expanse of ground level debt, reducing dependence on government by citizens and businesses, generating massive new flows of tax revenue (with out raising taxes), reestablishing a citizen-centered health care system, and restoring free-market dynamics and economic liberty in America.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3852 downloads)

WSJ: Goals for an ‘Equitable Post-Covid Recovery’

America will benefit principally from a ‘Powerful Economic Recovery.’ Much less from an ‘Equitable Post-Covid Recovery.’

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An Equitable Post-Covid Recovery – WSJ

Oct 7, 2020 – Excerpts:

How to help women and minorities, who have been suffering most in the downturn.

Meanwhile, the number of workers unemployed for 27 weeks or longer rose by 781,000 in September, to 2.4 million. Unless job creation speeds up, this number will continue to rise. A lesson from the 2007-09 recession: The longer workers remain jobless, the more likely they are to stop looking and drop out of the labor force altogether.

[snip]

The Bureau of Labor Statistics predicts that the U.S. labor force will grow over the next decade by only 0.5% a year. The workforce is aging, which means employment is likely to grow more slowly. This is why the BLS and the Congressional Budget Office are predicting annual economic growth of less than 2% between now and 2030. If the pandemic dropouts aren’t brought back into the labor force, this gloomy picture will darken.

Because low-wage workers are disproportionately racial and ethnic minorities, the uneven recovery is bound to exacerbate inequality. Black employment has declined by more than 11% since February, versus about 6% for whites, 7.2% for Asians, and 9.5% for Hispanics. Blacks have recovered only 35% of the jobs they lost during the pandemic, compared with 47% for Asians, 51% for Hispanics and 58% for whites.

Then there’s inequality of the sexes. Since February, employment has declined more for black women than black men and for white women than for white men. The labor-force participation rate for women has declined by 3.6 points since the start of the pandemic, double the decline for men. Of the nearly 1.1 million people who stopped working or looking for work in September, the Washington Post reports, almost 80% were women.

The next president will face this daunting set of problems, which the pandemic exacerbated but didn’t create. Absent a coordinated and vigorous policy response, these issues will outlive the pandemic. Here’s what the next president should do:

Keep the economic recovery on track.  

Reabsorb displaced workers and the long-term unemployed into the labor force as quickly as possible.  

Reduce employment gaps between white Americans and minorities.  

Acknowledge that help for working women is a necessity if the U.S. is to have an adequate labor force in coming decades.  

These steps should be the starting point in January—no matter who is president.

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No. The ‘starting point’ is….

America needs a powerful round of ‘ground level’ liquidity infusion – to effect a massive ‘debt elimination’ event.

THIS will benefit U.S. citizens across the board – and set America on course for long-tern economic growth, federal debt reduction, and economic liberty.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3834 downloads)

CBO Projects Debt ‘Moon Shot’ up to 200% of GDP by 2050.

There is a clean and powerful path out of this dismal debt swamp – and America needs to get moving soon…

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Budget Office Releases Terrifying Long-Term Debt Forecast

ZeroHedge, Sep 22, 2020 – Excerpt:

Debt as a percentage of GDP is projected to increase in most years as the government incurs budget deficits that are large relative to the growth of the economy. If current laws generally remained unchanged, federal budget deficits would be substantially larger over the next 30 years than they were over the past 50 years. In CBO’s projections, deficits rise after 2030 as mandatory spending—in particular, outlays for the major health care programs—and interest payments on federal debt grow faster than revenues.  That growth in deficits causes projected debt to rise as a percentage of GDP over the 2030–2050 period.

Finally, here is the most terrifying chart in the latest CBO forecast – and of all CBO forecasts released yet – which as hinted in the title, is the one which projects US debt for the next 30 years, and shows that over the next three decades nothing short of hyperinflation, or war, can save the US.

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The Leviticus 25 Plan is the most powerful, debt-busting economic acceleration plan on the planet:

* Massive debt elimination for U.S. citizens (mortgages debt, credit card debt, student loan debt, car loan debt)

* Federal deficits in the trillion dollar range converted to $237 billion budget surpluses over each of the first five years of activation (2021-2025).

* State and Local government drowning in red ink converted to powerful new growth trends in revenue and reductions in outlays.

* Medicare Trust Fund restored to solvency.

* Social Security Trust Fund – massive new inflows from robust 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

$90,000 per U.S. Citizen – Leviticus 25 Plan 2021 (3810 downloads)

“He who will not apply new remedies must expect new evils.” – Sir Francis Bacon

U.S. Fiscal Deficit 2020: $3 Trillion.

The Daily Shot, Sep 14, 2020United States: The US fiscal 2020 budget gap hit $3 trillion. The trajectory going forward will depend on whether we see a CARES 2 package.

Source: The Daily Shot

The U.S. Congress has no plan, nor has the Federal Reserve any plan, to restore financial security and economic liberty for U.S. citizens.

They have been pumping trillions of dollars out through their ‘credit facility’ transfusion pipelines to major U.S. and foreign financial institutions – while tens of millions of citizens, and millions of Main Street America’s small businesses, have been left to fight for survival in relentlessly deteriorating economic market place.

The Velocity of M2 Money Stock is in a literal ‘cliff dive.’

There is one powerful way to get the U.S. economic ship back on course and re-fire the great economic engine. DEBT ELIMINATION – at ‘ground level.’

The Leviticus 25 Plan will generate $237 billion budget surpluses during each of the first five years of activation – and pay for itself entirely over a period of 10-15 years.

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 2021 (3797 downloads)

FT: ‘Credit Worthiness’ – EROSION. Solution: The Leviticus 25 Plan

Note – during the Great Financial Crisis 2007-2010, AAA-rated paper (Mortgage Backed Securities) were getting quietly loaded up with sewage grade mortgages. It was hailed as an advance in ‘financial innovation.’ And the system eventually collapsed when the defaults started ‘rolling in.’

Accessed from: Investopedia

Global Creditworthiness is deteriorating. Defaults will be ‘on a roll’ again. It is just a matter of time.

The Daily Shot, Sep 14, 2020Credit: The global corporate debt market credit quality has been deteriorating over the past few decades.

Source: @financialtimes, h/t @ISABELNET_SA Read full article

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The world is drowning in DEBT. Economic chaos awaits all who dawdle. Millions of citizens will experience a violent ‘whiplash’ again, when the next crisis ensues. It is time to insulate those millions of people at ‘ground level’ – by granting direct liquidity extensions to citizens – the same direct liquidity extensions that were provided to global banking elites: Morgan Stanley, Citigroup, Bank of America, JP Morgan, Goldman Sachs, Wells Fargo, Merrill Lynch, RBS, State Street, Barclays, UBS, Deutsche Bank, Credit Suisse, PNP Paribas, and numerous others..

The U.S. has a plan – the most powerful economic acceleration plan of modern times.

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 2021 (3796 downloads)

A look back: Bank foreclosures 2011…

Banks foreclosed on 804,000 homes in 2011…

That works out to a rate of over 2,200 per day.  Every day in 2011.

While foreclosures eased slightly in March 2012 vs March 2011, “RealtyTrac … banks will repossess close to 1 million homes this year.”

For 2012, that would work out to over 2,700 per day. Every day.  For the next 365 days.

The Leviticus 25 Plan, on the other hand, would ‘power up’ liquidity at the family level, providing debt relief and a strong dose of financial security to American citizens.  These benefits have been utterly lacking throughout the government’s orchestrated (‘central planning’) response to the ongoing, 3-year financial crisis.

The debt relief benefits of the Leviticus 25 Plan would provide the equivalent of what is known in the ‘derivatives’ world as direct “support of the underlying assets.”  Namely housing (with additional support for any other form of pledged collateral).

Daily American News – Apr 12, 2012 :  “At the end of last year [2011], some 1.5 million U.S. homes had mortgages that had gone unpaid at least 90 days, according to Mortgage Bankers Association data.

First-time foreclosure notices, such as warnings of initial default, are the first step in the process that can potentially result in a home being foreclosed upon. Homes can exit the process if the overdue payments are paid. Sometimes, a bank will allow that the home be sold for less than what the borrower owes on their mortgage, a so-called short sale.

All told, 101,939 U.S. homes received a first-time notice in March, the biggest monthly increase since October, RealtyTrac said.

Thirty-one states posted a monthly increase in homes with a first-time foreclosure notice. Nevada led the pack with an increase of 153 percent.

Even so, foreclosure activity overall — as measured by the number of properties receiving a notice of default, scheduled for auction or repossessed by lenders — sank in March to the lowest level since July 2007, the firm said.

In all, 198,853 homes received a foreclosure-related notice last month, down 4 percent from February, and down 17 percent from March last year.

Banks took back 55,075 homes in March 2012, down 14 percent from the previous month, and down 25 percent from March 2011.

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The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3792 downloads)