{"id":140991,"date":"2014-10-20T19:57:15","date_gmt":"2014-10-20T19:57:15","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/?p=140991"},"modified":"2014-10-20T19:57:15","modified_gmt":"2014-10-20T19:57:15","slug":"federal-reserve-purposely-attacking-savers","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/sicence-technology\/federal-reserve-purposely-attacking-savers\/","title":{"rendered":"How The Federal Reserve Is Purposely Attacking Savers"},"content":{"rendered":"

There\u2019s something we \u2018regular\u2019 citizens wrestle with that the elites never seem to: a sense of moral duty<\/em>.<\/p>\n

For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame of default. Many believed defaulting was wrong somehow; that it was their moral obligation to pay their mortgages, no matter how dire their personal situation. And of course, the mortgages lenders did their utmost to reinforce this perception.<\/p>\n

In a perfect world, we would<\/em> honor our debts and obligations, every one of us. But the world is an imperfect place ,and moral obligation is something that almost never enters into the decision matrix of our society\u2019s richest. Or the banking industry.<\/p>\n

For them, the number one (and two, and three\u2026) rule is that whatever is expedient and makes the most money is the right thing to do.<\/p>\n

For the bottom 99%, it\u2019s like playing with a stricter set of rules than your opponent: you\u2019re not allowed to hit below the belt, and they\u2019ve brought a baseball bat into the ring.<\/p>\n

Note how this guy had to fight through his middle class conditioning before coming to a sense of peace over his decision to enter into a short sale on his house:<\/p>\n

How a short sale taught me rich people\u2019s ethics<\/a><\/p>\n

Sep 29, 2014<\/p>\n

The closest I ever came to acting like a rich person was two years ago when I short-sold my primary residence.<\/strong> I might have been able to keep it but strategic default made life easier. I owed about $400,000 on a house that short-sold for $150K. The bank lost more than a quarter of a million dollars, and I lost at least $80K in down payment and property improvements.<\/p>\n

I was taught growing up to \u201ckeep my word\u201d and that your handshake \u201cmeant something.\u201d<\/strong> Yet businessmen and individual wealthy people make decisions that are far less moral than a short sale. People \u201cincorporate\u201d so they can avoid legal responsibility for individual actions.<\/p>\n

It works great. You can stiff creditors, declare bankruptcy, pollute daily and raid pensions to enrich individual executives.<\/strong> If it all goes wrong, like it has so often for Donald Trump, you can keep your mansions and individual fortunes.<\/p>\n

I entered the shark-infested waters of high finance with a short sale. It was the worst ethical decision, but the finest, most profitable business moment, of my adult life.<\/strong> It was an informative, even transformative, experience.<\/p>\n

(Source<\/a>)<\/p><\/blockquote>\n

This poor guy has a very bad case of \u2018middle class morality\u2019. It\u2019s a very real phenomenon. All our lives, we are all taught (programmed?) to stay within the true and narrow groove of middle class life, pay our bills, and be on the hook should things go awry.<\/p>\n

Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s something we \u2018regular\u2019 citizens wrestle with that the elites never seem to: a sense of moral duty. For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame of default. Many believed defaulting was wrong somehow; that it was their moral […]<\/p>\n","protected":false},"author":1,"featured_media":109577,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487,13],"tags":[],"class_list":{"0":"post-140991","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-breaking-news","8":"category-sicence-technology"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/140991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=140991"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/140991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media\/109577"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=140991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=140991"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=140991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}