That brought the banks back to profitability and raised the stock market on the backs of the poor paying inflated prices for commodities that weren’t set by demand. Us poor folk got a double whammy. No good deed goes unpunished…but now reality is setting back in and the same problems persist.

People bought more than they could afford and the banks were more than happy to let them cut their own throats, or they lost their jobs to global labor arbitrage, or had some kind of uninsured healthcare issue, and the result is they lost their home and destroyed their credit.

The banks also committed fraud and sold the same mortgage to multiple investors, up to 40 times, as part of their “mortgage securities and derivatives.” European banks figured this out which is why the Federal Reserve also bailed them out with US tax payer money.

The only reason there are not long soup kitchen lines like during the Great Depression is because of food stamps. 1 out of 7 Americans is on food stamps! (45 million people and 21 million households) This is not sustainable. A hard crash is coming. The question is when, not if.