...AND for the use - for consumption - of the EQUITY on them...Feldstein, also, a Professor of Economics at Harvard University...also, served as chief of the National Bureau of Economic Research from 1967 to 2008...also, served under Ronald Reagan....last, A BILDERBERG MEMBER who at a 2007 Council on Foreign Relations meeting, sold the idea that "in order to further stimulate the economy, he stressed the Fed should lower the Fed Fund Rate to help ease pressure on adjustable rate mortgages, allowing homeowners’ to be 'able to access more funds', to spend more. His reasoning – the U.S. economy is dependent on consumption, representing 70% of the U.S. GDP (Gross Domestic Product)."
"Feldstein would have no doubt stood behind the value of adjustable-rate mortgages as a means to effect consumption, but when the collapse hit, Americans were put in a far worse financial position. And since savings were not promoted (with low interest rates), there was little security to fall back on. Can we see this as the plan of the elites?"
I was just telling my dad the other day - while watching Fred Thompson on TV sell to poor old folks this load-of-crap, scam idea about using up your equity on your home mortgages to buy whatever you want - how scandalous this SCAM is, and now this article comes out.
Quotes and article cited (below)from infowars.com: