Socio-Economics History Blog

Socio-Economics & History Commentary

U.S. Home Foreclosures Climb 44% to Record in May!

  • More green shoots? Yeah right. Only the banksters are making profits. Main street is screwed. The real estate market is not recovering. The bottom is still not in sight! Bloomberg reports:
      
    U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac Inc.
     
    Bank repossessions climbed 44 percent from May 2009 to 93,777, the Irvine, California-based data company said today in a statement. Foreclosure filings, including default and auction notices, rose about 1 percent to 322,920. One out of every 400 U.S. households received a filing.
     
    “We’re nowhere near out of the woods,” Rick Sharga, RealtyTrac’s senior vice president for marketing, said in a telephone interview. “We’re likely to set a quarterly record for home seizures if June is anything like May.”
     
    Lenders are completing the “inevitable progression” of taking properties from homeowners who stopped paying, Sharga said. He predicted last month that another 5 million delinquent mortgages will end in foreclosure in addition to properties that had already been repossessed. Almost 3.1 million properties have been seized by banks since April 2005, Daren Blomquist, RealtyTrac’s marketing communications manager, said in an interview today. “The second quarter won’t be the peak,” Sharga said. “I’m not even sure 2010 will be.”
     
    The previous record for seizures was 92,432 in April. Last month was the first in which every state had an increase in repossessions from a year earlier, according to RealtyTrac.
     
    Unemployment Rate
    U.S. private payrolls rose by 41,000 in May, Labor Department data showed last week. The hiring of temporary census workers boosted overall payroll growth to 431,000. The jobless rate fell to 9.7 percent, from 9.9 percent in April.
     
    Almost a quarter of the nation’s mortgage holders owed more than their homes were worth in the first quarter, Zillow.com said last month. Bank sales of foreclosed properties accounted for more than a fifth of all U.S. home transactions in March, the Seattle-based real estate data provider said.
     
    Wells Fargo & Co. and Bank of America Corp., the two largest U.S. home lenders, are cutting principal on some mortgages in an effort to keep owners in properties and get them to pay at least part of what they owe. Bank of America said in March it was reducing principal for some borrowers who owe more than 120 percent of what their homes are worth.
     
    “Marginal people, those types that were working as laborers, are most affected by foreclosures,” said Albert Kyle, a finance professor at the University of Maryland’s R.M. Smith School of Business in College Park. “A lot of foreclosures are occurring in modest houses.”

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June 14, 2010 Posted by | Economics | , , , | 2 Comments

Israeli Attack on the Mavi Marmara. Smuggled one Hour Video reveals the Truth!

  • What really happened during the 31 May 2010 Israeli attack on the Mavi Marmara? Above 15 minutes excerpt tells the true picture.
       
    Israeli Attack on the Mavi Marmara. Smuggled one Hour Video reveals the Truth
    Eyewitness reports and photographic evidence have proven that Tel Aviv has been completely dishonest about the Israeli military attack on the unarmed international civilian flotilla of humanitarian and aid ships going to the Gaza Strip. Israel has also been caught doctoring evidence. New video evidence has now been presented dispelling what little credibility Tel Aviv had left.
     
    When the Israeli military attacked and took over the civilian ships of the Gaza Freedom Flotilla it had its forces collect and destroy all media devices on the civilian ships. This included laptops, video cameras, cell phones, photography cameras, and other electronic media devices. Using the same Israeli tactic applied in the occupied Palestinian Territories, international journalists were also systematically sought and attacked by Israeli forces.
     
    Yet, the journalists aboard the Mavi Marmara managed to smuggle one hour worth of video evidence proving that Israel has been giving a false account of what happened. The video was released at a United Nations press conference held at the United Nations Dag Hammarskjold Library in New York City. Iara Lee, a filmaker from Cultures of Resistance, proves that the passengers accounts are the ones that conform to reality.
     
    Realizing that its false narrative was not holding account, Tel Aviv has begun changing its story. Firstly it attempted to demonize all the members of the Mari Maramara as bloodthirsty extremists tied to Al-Qaeda that were set on violent conflict. Later Israeli officials moderated their claims, saying that there was an extremist fringe element onboard the Mavi Maramara. It should be noted that there was an understanding with all individuals onboard the international civilian flotilla of humanitarian ships that their mission was a peaceful one. The violence from the passengers that the Israeli military presents was self-defence.
     
    The video evidence presented by Iara Lee and Cultures of Resistance also confirms the peaceful nature of the passengers. It also proves that the Israeli account was false. This video evidence proves that the Israelis were firing from overhead before they landed. Their laser lights of their rifles could also be seen scanning for the civilian passengers while firing could be heard. These lasers lights are used to mark targets and would not be used unless the Israelis were intending to shoot to kill.
     
    The video footage also shows blood on the ship before the Israelis landed. Israeli soldiers were only caught after by the passengers who clearly only wanted to protect themselves. There was no “lynching” as the Israelis claimed. All of these facts prove that the survivors and eyewitnesses onboard the Mavi Marmara were telling the truth when they said the Israelis fired from overhead and killed passengers before landing. Israel has zero credibility.
     
    The video evidence also proves that the Israelis had gathered intelligence and profile data on the passengers. In the video evidence Kevin Neish, a Canadian activist, holds a leaflet that was found on one of the captured Israeli servicemen that shows the passenger profiles from Challenger II. This means that Israel had prepared well in advance, which was also reported by Israeli media too, and that most probably the Israelis had a priority list that they used to both identify targets, such as journalists, and passenger expendability.
     
    Tel Aviv has been lying at the highest levels. Israel has zero credibility. Just like its promises to deliver proper humanitarian aid, Tel Aviv cannot be trusted to have another one of its own internal inquiry. An independent international tribunal needs to formed to persecute the Israeli officials responsible for these violations against international law.

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June 14, 2010 Posted by | GeoPolitics, History, Social Trends | , , , , , , | Comments Off

May Levels of Toxic Gases in Gulf Back Up Claim Made by Lindsey Williams!

Things look really bad even deadly!

  • The Gulf Oil spill looks really much worse than everybody thinks. We are into the hurricane season. Any hurricane that hits the Gulf will spread all the toxic Corexit neurotoxins not just to the Gulf regions USA but possibly round the world via the jet stream. The evidence laid out below suggests that what Lindsey Williams said last week is spot on. Toxic gases of enormous concentration and deadly to humans and animals are being spewed out. Will martial law be applied and the masses in the Gulf region be evacuated? Looks highly likely. As many as 40 million people may be displaced. Birds which have highly sensitive lungs are fleeing north by the thousands. This, as they say, is the canary in the coal mine.
     
    May Levels of Toxic Gases in Gulf Back Up Claim Made by Lindsey Williams
    Appearing on the Alex Jones Show earlier in the week, pastor Lindsey Williams said that gases — Hydrogen Sulfide, Benzene, Methylene Chloride, and other toxic gases — pose a greater risk to human health than the presence of oil washing up on Gulf of Mexico beaches. Williams said the EPA is not reporting on the amount of gases escaping from the BP oil gusher. However, the second video below suggests the EPA has released data on the amount of Hydrogen Sulfide and Benzene in the air in Louisiana.
     
    On May 14
    WWLTV in New Orleans ran a report on the levels of Hydrogen Sulfide and Benzene in the air at that time. 5-10 parts per billion is the established allowable amount for Hydrogen Sulfide. WWLTV reported that on May 3 the level was recorded at 1,192 ppb. Pastor Williams said his sources report the level detected in the Gulf at 1,200 ppb and the amount poses a serious and even fatal health risk.
      
    “The media coverage of the BP oil disaster to date has focused largely on the threats to wildlife, but the latest evaluation of air monitoring data shows a serious threat to human health from airborne chemicals emitted by the ongoing deepwater gusher,” the
    Institute for Southern Studies blog reported on May 10.
     
    Today the Louisiana Environmental Action Network released its analysis of air monitoring test results by the Environmental Protection Agency. The EPA’s air testing data comes from Venice, a coastal community 75 miles south of New Orleans in Louisiana’s Plaquemines Parish. The findings show that levels of airborne chemicals have far exceeded state standards and what’s considered safe for human exposure.
     
    For instance, hydrogen sulfide has been detected at concentrations more than 100 times greater than the level known to cause physical reactions in people. Among the health effects of hydrogen sulfide exposure are eye and respiratory irritation as well as nausea, dizziness, confusion and headache.
     
    The concentration threshold for people to experience physical symptoms from hydrogen sulfide is about 5 to 10 parts per billion. But as recently as last Thursday, the EPA measured levels at 1,000 ppb. The highest levels of airborne hydrogen sulfide measured so far were on May 3, at 1,192 ppb.
     

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June 14, 2010 Posted by | Disaster, Social Trends | , | 2 Comments

   

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