US Mortgage Lenders Are Starting to Go Broke

I remember something that changed in 2008. Half of my lifetime of savings was erased from my retirement accounts. It took us a decade of working 2 and 3 jobs, 80+ hours a week to rebuild those balances, yet when we finally did, our purchasing power was worth only half as much. It was a clever heist then, and it's a clever heist now. None of us actually recovered.

This time around, we've experienced a 20% reduction in purchasing power due to orchestrated inflation. Then they wiped down our balances another 30%. In the same timeframe they loaned the uber wealthy trillions for 0% interest/cost. They then used that money to scoop up rent-seeking properties and businesses. The uber wealthy, yet again, doubled their net worth in the same timeframe that we all lost. Yet again, it's a clever heist.

And they wonder why there is a tsunami of working class people approaching, who don't have enough to retire. It's because it was stolen.

/r/economy Thread Parent Link - bloomberg.com