Mortgage Insurance Crisis

AGW CLIMATE

CCI

WASH STATE?

READ: Disaster and insurance costs are rising. The middle class is struggling to hang on

⚖️ The New Republic: The Supreme Court’s Ethics Code Is a Joke. Big Oil Knows That.

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Time to Wake Up 301: The Four Phases of Climate Denial

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FLORIDA IS OUR PREVIEW OF COMING

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ATTRACTIONS, AN INSURANCE MARKET IN GRAVE DISTRESS, MORT

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MARKETS -- MORTGAGE MARKETS BEGINNING TO TREMBLE,

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MIDDLE-CLASS FAMILIES FINDING IT HARD TO SELL HOMES. THE CHIEF ECONOMIST OF FREDDIE

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MAC SOME YEARS AGO PREDICTED THIS CASCADE FROM INSURANCE TO

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MORTGAGES TO PROPERTY VALUES TO WHAT HE THEN CALLED A COASTAL

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PROPERTY VALUES CRASH THAT WOULD HIT THE ENTIRE ECONOMY LIKE THE

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2008 GREAT RECESSION. NOTE THAT WORD COASTAL. WELL, IT'S NOT JUST COASTAL

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ANYMORE. WILDFIRE NOW MATCHES COASTAL AS AN ADDED THREAT THAT CAN TRIGGER

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THAT ECONOMIC CASCADE INTO COLLAPSE.

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ON TOP OF THAT LOOMS THE

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LONG-PREDICTED CARBON BUBBLE. WHAT'S THE CARBON BUBBLE? THAT'S WHEN THE FOSSIL FUEL

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INDUSTRY COLLAPSES IN A SUDDEN AND DISORDERLY FASHION BECAUSE WE WERE IRRESPONSIBLE ABOUT A

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GRADUAL AND RELIABLE ENERGY TRANSITION. AND BY THE WAY, IT'S NOT COASTAL

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OR WILDFIRE OR CARBON BUBBLE COLLAPSE, ALL THREE COULD

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HAPPEN. EACH COLLAPSE MAKING THE OTHERS FASTER AND MORE DEEP AND

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DANGEROUS AND PAINFUL. REMEMBER HEMINGWAY'S NOTORIOUS

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LINE THAT YOU GO BROKE GRADUALLY AND THEN ALL AT ONCE.

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WHAT COULD PROVOKE THIS ALREADY GRADUAL COLLAPSE TO SUDDENLY GO

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ALL AT ON? WELL, THERE ARE A LOT OF WAYS

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THIS COULD HAPPEN. ONE, IS RELATED TO OPEC.

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SAY A LOW-COST OIL AND GAS PRODUCER LIKE SAUDI ARABIA

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DECIDES TO SELL FUEL AT COST

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RATHER THAN AT THE OPEC CARTEL

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PRICE. WHEN THEY SEE IT'S TIME TO MAKE THE MOVE FOR THE EXITS AND SELL

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WHAT THEY CAN WHILE THEY STILL

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CAN, WHEN THEY DO THAT, THE AMERICAN FOSSIL FUEL INDUSTRY

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RAPIDLY COLLAPSES BECAUSE OUR FOSSIL FUEL INDUSTRY CAN NO LONGER COMPETE.

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IT'S ONLY PROFITABLE AT PUFFED UP AT OPEC CARTEL PRICES, NOT AT

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THE PRICES SAUDI ARABIA COULD BRING TO THE MARKET IF IT CHOSE TO.

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SO INSTANT CRASH. HERE'S ANOTHER SCENARIO.

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FANNIE AND FREDDIE, THE MORTGAGE GIANTS, STOP ACCEPTING MORTGAGES

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INSURED BY FLORIDA'S FLIMSY POPUP PROPERTY INSURANCE

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COMPANIES. OVER A DOZEN OF WHICH HAVE ALREADY GONE BUST SINCE

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HURRICANE ERMA IN 2017. IT IS A HUGE TAXPAYER LIABILITY

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FOR FREDDIE AND FANNIE TO ASSUME ALL THAT RISK WITHOUT CREDIBLE

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INSURANCE. LOCAL FLORIDA BANKS WON'T HOLD THOSE MORTGAGES BECAUSE THE

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30-YEAR RISK TO A BANK IS NOT SURVIVABLE.

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FLORIDA BECOMES A REGION CHAIRMAN POWELL PREDICTED WHERE

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YOU CAN'T GET MORTGAGES ANYMORE. A MASSIVE ASSET REPRISING THEN

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FOLLOWS THAT TRIGGERS SYSTEMIC ECONOMIC DAMAGE. PERHAPS EVEN CASCADING GLOBALLY

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AS THE ECONOMIST MAGAZINE WARNED.

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THE TRUSTY SIGN THAT I WORKED WITH ALL THESE YEARS THROUGH HUNDREDS OF SPEECHES IS TIME TO

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WAKE UP. I'M NOT SURE WE CAN SAVE

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OURSELVES ANY LONGER.

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