Flipping picks up in D-FW
September 17, 2017 Emailed to WSJ/NYT/DMN on 9/17/17
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" written as an open letter to Steve Brown: Real Estate Editor for the Dallas Morning News that explains how U.S. Government accounting fraud is causing "home flipping".
The "news media" has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can "feather their own nests" and "dramatically feather the nests of their upper-class friends".
Flipping picks up in D-FW
September 17, 2017
Real Estate Editor
Dallas Morning News
Dallas Morning News
Asst. Editorial Page Editor
Dallas Morning News
Flipping picks up in D-FW September 15, 2017 by Steve Brown
"The Housing Bubble" is continuing to inflate!
Flipping homes in America is caused by U.S. Government accounting fraud!
Americans are buying and building "ghost houses" with counterfeit money!
The fundamental cause of "The Housing Bubble", that burst in 2008, has not been corrected by the actions taken since then by the U.S. Government and the Federal Reserve Bank. The fundamental cause of the "The Housing Bubble" is that the U.S. Government is running a $107.5 Trillion Ponzi scheme by using fraudulent accounting! Americans have been buying and building bigger and bigger houses since FY1969 when this Ponzi scheme (USAPonzi) was launched.
Steve, I read your above noted article in the Dallas Morning News and once again I am compelled to write you to explain the impact that a corrupt U.S. Government is having on our financial system, our economy, our society, and our real estate market. The U.S. Government is using fraudulent accounting that is creating money out of "thin air" and giving it to the current Americans so they can pay more and more for their homes. So far, the U.S. Government has fraudulently borrowed $107.5 Trillion from the future Americans and given it to the current Americans by using Cash Accounting rather than the proper GAAP Accounting.
The U.S. Government is digitally printing counterfeit money and giving it to the current Americans by using fraudulent accounting.
The U.S. Government is creating money, I call it imaginary-counterfeit money, out of "thin air" to enrich the current Americans by borrowing money from the future Americans, that the future Americans do not have, and giving it to the current Americans. As of September 17, 2017, the U.S. Government has borrowed/stolen $107.5 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the current Americans. Every day the U.S. Government fraudulently borrows another $15.1 Billion from the future Americans and gives it to the current Americans (GAAP Deficit in FY2017 = $5.51T/365 days = $15.1B per day).
We are buying and building homes with imaginary-counterfeit money that the U.S. Government has created out of "thin air" with GAAP basis deficit spending. This fraud will create an infinite amount of imaginary-counterfeit money so the price of homes will continue to increase toward infinity until this U.S. Government fraud is terminated.
Flipping houses works great in this environment since the price of houses will continually increase as long as the U.S. Government continues to be corrupt! "Buy now" and "sell later" will work fine until the U.S. Government starts telling the financial truth!
The U.S. Government is corrupt! The U.S. Government is not using Generally Accepted Accounting Principles (GAAP Accounting)! This has created a Ponzi scheme, I call it USAPonzi, that the U.S. Government has been operating for 48 years. This accounting fraud is stuffing imaginary-counterfeit money into the pockets of the current Americans so they can buy and build more and bigger houses and pay more and more for the old ones.
This U.S. Government fraud is borrowing money from the future Americans, that the future Americans do not have, so the current Americans can buy stuff that they cannot afford. So far, the U.S. Government has fraudulently borrowed $107.5 Trillion from the future Americans by deferring $107.5 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to them. We are buying and building houses with this imaginary-counterfeit money but it is the U.S. upper class that get most of this imaginary-counterfeit money so they are buying and building mansions and mega-mansions with the imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans.
The "Dallas Morning News" needs to have a serious and capable investigative reporter study and report on this problem so that we can stop this outrageous construction of homes that we cannot afford. Many of these homes will be ghost homes when the U.S. Government starts telling the financial truth.
The bigger the mansion the more likely it is to become a ghost house! America is already littered with millions of these coming ghost houses, condos, and apartments; simply because the U.S. Government is using fraudulent accounting! If we were to spend all of the $107.5 Trillion that the U.S. Government has fraudulently borrowed from the future Americans on houses, we could build 430 million houses valued at $250,000 each ($107,500,000,000,000/$250,000 = 430,000,000).
And we can buy 60,400 more houses tomorrow, and 60,400 more houses the next day, etc etc. GAAP basis deficit spending is creating $15.1B more imaginary-counterfeit money every day ($15.1B/$250,000 = 60,400). And if we get tired of buying houses, we can buy cars, trucks, airplanes, smartphones and whatever with this new imaginary-counterfeit money that the U.S. Government is creating out of "thin air"!
Unfortunately, we have already built a lot of big houses when we can only afford little houses. This U.S. Government accounting fraud is causing us to buy and build a lot of the wrong stuff. See An Infinite Amount of the Wrong Stuff.
The entire planet is operating in a massive ($107.5 Trillion) financial bubble created by the Ponzi scheme fiscal policy of the U.S. Government that I call USAPonzi! GAAP basis deficit spending has created $107.5 Trillion of imaginary-counterfeit money by undertaxing the U.S. upper class.
The U.S. upper class has gotten rich simply because the U.S. Government has borrowed $107.5 Trillion of imaginary-counterfeit money from the future Americans, that the future Americans do not have, and given this imaginary-counterfeit money to the U.S. upper class! The U.S. upper class is getting rich because they have criminal friends in Washington, DC! This accounting fraud has allowed the U.S. upper class to buy and build great big houses!
The U.S. Government has got to start telling the financial truth!
The "Dallas Morning News" has got to start reporting the financial truth!
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Sep 17, 2017
This U.S. Government fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books "USAPonzi" (Nov 22, 2015) and "USAPonzi2" (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.
This is the biggest ($107.5 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!
John W. White