October 15, 2009 - David Westerfield

If Aldous Huxley were still alive, I can’t help but think that he would say, “Told you so,” except with a longer, deeper explanation of how his vision of the future was coming to pass in ways he predicted and ways he couldn’t have foreseen … all in his quaint, British accent of course. The methods cited above, being employed by this administration to “educate” the public in this new postmodern version of collectivism, are striking, and in light of Huxley’s assessment kind of chilling and ominous concerning the precedent being set for the future.

We’re certainly not to the final end-point Huxley describes as the Final Revolution, but good grief. Some of the things being employed by this administration are some of the exact methods described by Huxley that are now being employed on a large scale, just as he warned. They are intertwining government messages to service (as they have described this themselves here and here) with television shows! It may be this is purely benign at the moment, though it is clear they want to funnel you to government sponsored websites. What if such a method continues 10, 20 years down the road? What will that look like by then?

(Update: to be fair, Bank of America did take a hit this past quarter)

In order to create incentive and get consumers’ as well as investors’ confidence back up to levels before the financial crisis started, it seems the media and their overlords, whoever they may be (I personally think Goldman, JPMorgan, BofA, et al. :] ), are intent on continuing to mask the reality of the actual crisis in the housing market and the broader market that is getting worse and apparently far from over, where there is an increasing amount of pain and hurt; something those very banks helped create and are profiting from now.

Case in point: foreclosures for the third quarter versus foreclosure filings year over year.

Foreclosures rise 5 percent from summer to fall – AP

“The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as a federal effort to assist struggling borrowers was overwhelmed by a flood of defaults among people who lost their jobs.”

Now while the above is certainly a true number and an accurate reading of the number of actual foreclosures for the third quarter, the reality going on behind the scenes can be seen in this article, which has come out on the same day as the last article:

U.S. Foreclosure Filings Jump 23% to Record in Third Quarter – Bloomberg

“U.S. foreclosure filings climbed to a record in the third quarter as lenders seized more properties from delinquent borrowers, according to RealtyTrac Inc.

A total of 937,840 homes received a default or auction notice or were repossessed by banks, a 23 percent increase from a year earlier, the Irvine, California-based seller of default data said today in a report. One out of every 136 U.S. households received a filing, the highest quarterly rate in records dating to January 2005.”

Gospel. Culture. Technology. Music.

Day: October 15, 2009

Huxley’s Assessment Proving to be Correct More Everyday

The Wall Street Crisis May Be Over, But The Real Economic Crisis Still Looms