LIVING A LIE…James Quinn!
TheBurningPlatform.com
11th December 2015
“Above all, don’t lie to yourself. The man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others. And having no respect he ceases to love.” – Fyodor Dostoyevsky, The Brothers Karamazov
The lies we tell ourselves are only exceeded by the lies perpetrated by those controlling the levers of our society. We’ve lost respect for ourselves and others, transforming from citizens with obligations to consumers with desires. The love of mammon has left our country a hollowed out, debt ridden shell of what it once was. When I see the data from surveys about the amount of debt being carried by people in this country and match it up with the totals reported by the Federal Reserve, I’m honestly flabbergasted that so many people choose to live a lie. By falling for the false materialistic narrative of having it all today, millions of Americans have enslaved themselves in trillions of debt. The totals are breathtaking to behold:
Total mortgage debt – $13.6 trillion ($9.9 trillion residential)
Total credit card debt – $924 billion
Total auto loan debt – $1.0 trillion
Total student loan debt – $1.3 trillion
Other consumer debt – $300 billion
With 118 million occupied households in the U.S., that comes to $145,000 per household. But, when you consider only 74 million of the households are owner occupied and approximately 26 million of those are free and clear of mortgage debt, that leaves millions of people with in excess of $200,000 in mortgage debt. Keeping up with the Joneses has taken on a new meaning as buying a 6,000 sq ft McMansion with 3% down became the standard operating procedure for a vast swath of image conscious Americans. When you are up to your eyeballs in debt, you don’t own anything. You are living a lie.
The lie was revealed as housing bubble burst and national home prices plummeted by 30%, resulting in millions of foreclosures, the worst recession since the Great Depression and homeowners equity falling to an all-time low of 38%. The Fed induced 2nd housing bubble has convinced millions to believe the lie again. The Fed easy money, Wall Street buy and rent scheme, with the FHA acting as the new purveyor of 3% down mortgages, has artificially boosted homeowners equity back to 57% just in time for the next housing collapse. Living a lie will result in more pain and suffering for those who didn’t learn the lesson last time.
The Rest…HERE
