Friday, December 11, 2009

Mortgage Defaults and Related Capitalist Fallaciousness

Let's not quibble about minor adjustments, "loan modifications", that cannot begin to deal with the structural malaise of a mortgage default and possible ensuing eviction.

The first matter at hand, is can we have a moratorium on evictions, both mortgage and rental related? It seems as the Chief Executive, Obama could issue an executive order relative to such. Whether it be heeded on local levels is an entirely different question.

More fundamentally, the whole mortgage/lending and landlord/tenant reality of the Capitalist system is wrong. When I make a payment of $500 to my property management firm, what good reason is there that I should not be getting at least $350, if not $400, of equity from such a payment?

Such a world unity cooperative housing policy and program needs to replace the current Capitalist rip-off.

We have to recognize that first, and come together as a peoples' union to demand that we be treated as such.

Similarly, the exploiters need to organize to protect whatever legitimate interests they may have and to work with us on a transition strategy.

I understand the cutthroat mentality of the Capitalists. I am not naive. But the massive suffering that we have been experiencing and being realized by an accelerating segment (One argument is that we are only beginning to discuss it because it is now starting to effect the ownership "class") in the real estate/financial sector as in all sectors of the economy is due to the complete inequity, fallaciousness, inhumanity/uncaring nature that has been the Feudal/Mercantile/Capitalist evolution.

Tinkering will not suffice.

In Peace, Friendship, Community, Cooperation, and Solidarity,

Mike Morin
Peoples' Equity Union

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