Rustico the messenger of bad news mentioned moratoriums a few weeks ago. It has happened before ,in 26 states during the depression and for about two years I believe. Hopefully this is mostly political grandstanding. The fact that lenders are present for the hearings on the moratorium disturbs me. If this happens it won’t be to fix everything in six months. It will just be a start on implementing further fixes down the road. No doubt about it, loss mitigation is underway(for the banks). How extreme the protection will be is anyone’s guess. My guess is that the FED and Bankers and Lenders are raising or planning on raising the nominal support level with various strategies. That is what they will need more than anything.
We might as well just institutionalize debt slavery.
I think we should organize permanent vacation compounds in Mexico and rotate ourselves up here to work in 3 momth shifts to pay for our subsistence. No Kool-aid allowed.
