The Cardinal Crisis
This World press photo shows a gun-wielding deputy sheriff's officer making his way cautiously through a house to make sure its bank-evicted residents have abandoned their foreclosed home.
Credit: Anthony Suau/Time Magazine
Austerity Coming To America?
By Theodore White; mundane Astrolog.S
For some time, I have been forecasting and warning that 2010 will be an historic year.
As July 2010 begins, the world is now in the first phases of the Cardinal T-Square developing with tighter orbs configuring among the outer planets involved: Mars, Jupiter, Saturn, Uranus, and Pluto.
It has the effect of powerfully depressing economies, and stressing employment levels to the bare minimum.
Saturn enters the 29-degree of Virgo on July 7th, and is at the end of a 2.5-year transit in that Sign. The planet has been transiting near the nadir of world regions in late June and early July.
Saturn will re-enter tropical Libra officially on July 21, 2010 for a 2.5-year transit.
The strength of Saturn's transit now peaks at the last degree of tropical Virgo and brings with it malefic inclinations that tend to lean toward loss for those under Saturn's influences.
Tens of millions of people worldwide are out of work; foreclosures continue to rise, and the great majority of people searching for jobs is at its highest levels since the early years of the Great Depression of the early 1930s.
These numbers increase as the cardinal T-square now forms in the summer of 2010 in the northern hemisphere.
What is clear is that the Bank Crisis is ongoing with families being thrown out into the street unable to keep up with debt, overvalued housing prices, and mortgages while few judges feel the need to squash foreclosure eviction orders in a economic climate that clearly does not favor recovery.
Much of this comes from ignorance of astrological transits, and the internal, regulatory, and political neglect which fostered years of widespread financial corruption, greed, and all manner of transgression.
The current economic crisis, in my mundane view, is about to become an economic depression.
I continue to state that what is really happening is that the Pluto in Leo generation, now on the way out as establishment, is leaving behind multiple and huge gaps in the economic life of the world that must be solved, and then resolved, by a new generation.
The neglect, and outright corruption of the Baby Boomer generation as establishment is unforgivable given the spectrum and depth of pain inflicted on tens of millions of families worldwide and in the United States.
It is obvious that many governments, along with bankers, and policymakers, the great majority who are of the Baby Boomer generation, have decided that "austerity" and "belt-tightening" is the way to go.
However, these are the same people, from the same generation, that caused the crisis in the first place.
It is actually time for them to go.
It is time for the Baby Boomer generation to start their retirements, and that is exactly what global planetary transits are about to make happen.
I have been forecasting this for sometime, because it is what I have foreseen.
Individual Baby Boomers continue to say they are appalled and ashamed of what their own generation has wrought as the establishment. Some seek to distance themselves from what they know will be a harsh reckoning against their generation in the decade to come.
The Pluto in Leo generation, in their angst and dysfunction, will have left behind them a mess the likes of which will boggle the mind in the months and years ahead, and which reflects back the ruins of whole economies of scale.
The resulting social decay, rising crime, along with the economic and emotional depression will require a new generation to infuse into the 2010s and 2020s a positive energy and renewed spirit - along with proper common sense management - something that has been entirely lacking from the Pluto in Leo generation.
To proceed into the future means to dump the outworn methods, widespread neglect, and negative baggage that comes from the fear and angst of the Baby Boomer generation.
The economic crisis will continue into 2011 and 2012 under the Jupiter/Saturn opposition. These years, along with 2010, are the years when the real estate market will experience a full collapse.
The consequences of this are far-reaching.
The tens of millions of people affected by the crash of the real estate and housing markets are also voters, and citizens who, by their direct experiences, will become radicalized against the very system they once supported and believed was honest and just.
The world transits confirm that in the years ahead, the bankers, corporations, associations, their lobbyists, judges, and supporters of a corrupted system that has foreclosed on millions of families, shuttered tens of thousands of healthy businesses, ruined lives, neighborhoods and communities, will, in the near future come to seriously regret their fraud against the very people who make up the totality of a robust, and healthy economic life.
I wish I could be more positive, but by my mundane calculations of the configurations of the planets relative to the Earth, and their correlations to events, I find that things will get worse under the Cardinal T-Square, and Cardinal Cross world transits.
I have forecasted many times previously that the second half of 2010, into the first quarter of 2011, will be very difficult for millions of people who currently are underwater with their mortgages, and for those who have lost jobs and continue to look for work in a severely contracted economy.
The corruption, greed, and outright stupidity of those involved in the policy-making, regulatory, educational and financial community has led much of the world to the precipice of a full-blown economic depression.
Astrologically, these times were known by some mundane astrologers, but few people listened to our warnings, or believed it was even possible.
It is the power of the inclinations of the Saturn, Uranus, Pluto cardinal T-Square, not seen since the early years of the Great Depression, that has returned.
Saturn's waning square to Pluto will be now be re-activated this summer. Along with the opposition from Jupiter, and Uranus to Saturn, the power of the configuration on Earth will be, at times harsh, and also unrelenting.
The consequences and recriminations from 18 years of corruption, greed, and outright fraud which has led tens of millions of people into desperation and loss will lead to angry years ahead against the old establishment that started it all.
It has been, and continues to be my view, that President Barack Obama should have placed a moratorium on foreclosures nationwide in the United States until a full accounting of the banking crisis, and the rampant corruption within the financial community, had been tackled.
This would have prevented the losses facing tens of millions of families, and saved the economy from further depression.
But what do I know? I'm just a mundane astrologer.
It is my view that because of the ignorance, and failure of politicians, bankers, their lobbyists and associations, that the popular backlash to come will be a direct result of ignorance and pandering to forces that not only started the economic crisis, but continue to fuel it.
I have forecasted a double-dip last year for 2010, especially during the third and fourth quarters of 2010. That time has now just begun.
Losing a home to foreclosure has been, and continues to be a living nightmare for families. According to estimates, the number of American homes taken over by banks has jumped 35 percent since the first quarter of 2009.
There has already been one million bank repossessions of homes so far in 2010.
The overlooked victims of the mortgage disaster are the more than 2 million children whose families lost their homes between 2007 and 2009.
Economists estimate that another 2.5 million to 3.5 million families are at serious risk of losing their homes in 2010.
This estimate does not include the families who lost their homes by defaulting on rental payments or conventional mortgage loans.
The second half of 2010 holds the first phase of the powerful Cardinal crisis transits, and it is in this phase that most of the damage from the crash of the residential housing market will be felt full force.
A Corrupted System Keeps Churning Up The Pressure On Families
The backlog of foreclosure cases is depicted here in the scanning room at the Clerk & Comptroller's Office in Palm Beach, Florida.
Credit: Bruce Bennett/Palm Beach Post
A system I consider to be corrupted from years of abuse with little to no regulation continues to throw families out on the street.
The transit of Saturn in the last degrees of Virgo, and approaching its waning square to Pluto while opposing both Jupiter and Uranus, reflects the rising foreclosures of homes by banks which continue to show no compassion or understanding for human beings:
Two Judges & Six Case Managers Added to Push Through 52,000 Backlog of Foreclosures in Palm Beach?
By Kimberly Miller
Palm Beach Post
July 6, 2010 - WEST PALM BEACH, FLORIDA — Palm Beach County's courts have hired two senior judges and six case managers to help work through a foreclosure backlog of about 52,000 cases.
The additional employees, including four clerical assistants, began last week.
Their salaries are being paid with $640,000 — part of a one-time statewide allocation of $6 million to help clear an estimated backlog of 500,000 foreclosure cases in Florida.
The Palm Beach County Clerk and Comptroller was given $403,000 out of a statewide allocation of $3 million.
"What I hear is there are homeowners and condo owners not in foreclosure who are being hurt because properties in foreclosure aren't being maintained," said Palm Beach County Chief Judge Peter Blanc.
Palm Beach County Chief Judge Peter Blanc
Moving foreclosures through the system, Blanc said, is intended to get vacant homes back on the market and improve overall property values.
Blanc said the new employees will increase the number of summary judgments processed from 1,000 per week to 2,000.
A motion for a summary judgment is typically filed by the lender following a homeowner's answer to the foreclosure filing.
If the owner does not object to the foreclosure, it can be a quick proceeding in favor of the bank.
Homeowner activists fear increasing the rate at which summary judgments occur is unfair to borrowers, but Blanc said the court wants to be fair while also reducing the backlog.
"We want to be efficient, but not rush," Blanc said.
Palm Beach County Chief Judge Peter Blanc says the new employees will increase the number of summary judgments processed from 1,000 per week to 2,000.
Foreclosures Rise For Prime Loan Borrowers
Rate Has Doubled In The Past Year?
Click on Graphic To Enlarge
By Emett Pierce
May 29, 2010 -- San Diego, California -- The mortgage crisis that has shaken the nation's economy is expanding beyond the subprime market to include borrowers with prime loans and solid credit ratings, said a survey released yesterday by the Mortgage Bankers Association.
The rate of foreclosure on prime, fixed-rate mortgages doubled in the past year, said Jay Brinkmann, chief economist for the Mortgage Bankers Association.
Nearly 6 percent of such mortgages were in the foreclosure process or behind by at least one payment at the end of the first quarter.
Among all types of mortgages, the survey showed that a record 12 percent of homeowners had fallen behind on their payments or were going through foreclosure.
The report reflects a significant threat to the ailing housing market as well as the overall economy, said Mark Zandi, chief economist at Moody's Economy.com.
“As long as foreclosures are rising, house prices will decline, which will undermine household wealth,” he said.
“It will be very difficult for the economy to gain any traction. A lot more foreclosures are coming.”
Widespread layoffs and pay cuts have weakened the ability of many middle-wage households to make their monthly mortgage payments.
The expanding mortgage market meltdown began with the failure of highly leveraged subprime loans.
Such loans originally were intended for borrowers with blemished credit but fell into common usage.
Tens of thousands of loans were approved in the first half of the decade without regard to income or credit scores.
Critics say lenders lowered their underwriting standards as home prices rose beyond the reach of middle-wage earners in order to prolong the housing boom.
Until recently, many analysts said the people who were losing their homes probably took on too much debt in relation to their income.
The new survey reflects a deepening recession, with formerly solvent homeowners struggling to make ends meet.
University of San Diego economist Alan Gin said San Diego County's high job losses are contributing to the problem locally. The county's [official] unemployment rate is now 9.1 percent.
Dean Baker, an economist with the Center for Economic and Policy Research in Washington, was surprised that the quarterly report showed that 7.51 percent of prime loans in California were past due.
An additional 3.48 percent of prime loans, which go to borrowers with high credit ratings, were in foreclosure.
“That is incredible,” Baker said. “These are the good ones. These are not people who likely got in over their heads.”
Foreclosure activity in San Diego County has been fluctuating in recent months.
In April, MDA DataQuick reported 903 foreclosures in the region, an increase of 23 percent over March but a drop of 36 percent from April 2008.
There were 3,371 recorded notices of default in April, a 12 percent decline from the previous month, but a year-over-year gain of 2.2 percent.
Prime, fixed-rate loans, which go to borrowers with good credit, now represent the largest share of new foreclosures nationwide, according to the first-quarter survey.
A year ago, prime, fixed-rate loans equaled about 19 percent of foreclosure starts nationwide, Brinkmann said. Sub-prime adjustable-rate mortgage loans totaled 39 percent.
In the recent survey, prime loans totaled 29 percent of foreclosure starts and subprime adjustable [mortgages] were down to 27 percent.
About 56 percent of the increase in foreclosures and past-due loans is coming from California, Florida, Arizona and Nevada.
Brinkmann said the delinquency rate for mortgage loans in California was 9.22 percent at the end of the quarter, an increase less than one-tenth of 1 percent from the previous quarter.
No region of the country is immune from the foreclosure problem, as rising unemployment spreads.
Zandi said efforts by the Obama Administration to place distressed borrowers in affordable loans has yet to make a dent in the problem.
Economist Christopher Thornberg of Beacon Economics in Los Angeles said the situation isn't surprising, given the large number of bad loans that were made during the housing boom.
To turn away from the realities of what has been, and continues to take place, is to have one's head stuck deep in the sands of ignorance.
The Cardinal Crisis
By Robert Oak
Moody's has estimated 400,000 jobs from State, City and Local governments will be lost next year due to budget cuts. Up to 400,000 workers could lose jobs in the next year as states, counties and cities grapple with lower revenue and less federal funding, says Mark Zandi, chief economist for Moody's Economy.com.
The Center for Budget and Priorities has the estimate much worse, a total of 900,000 jobs affected.
It will slow the economic recovery and raise the risk that the nation will fall back into recession as the loss of Americans’ spending power ripples through the economy.
States’ actions to close their $140 billion gap without more federal aid could cost the economy up to 900,000 public- and private-sector jobs.
Wells Fargo economist Mark Vitner expects state and local governments to cut about 200,000 workers this year if Medicaid benefits aren't extended.
That's largely why Wells Fargo cut forecasts for third-quarter economic growth to 1.5% from 1.9%.
Even if Congress extends Medicaid subsidies, Zandi expects 325,000 job cuts the next year, though Vitner says losses could be far less.
It appears much of the cuts have to do with help to the elderly and poor and Medicaid. Below is the list of cuts already one must ask if states are not purging the roles of ineligible people and what are they doing about Medical costs?
Denying an American equipment to help them breath is truly a scary thought and this is one of the cuts listed.
The list below reveals excerpts from a budget graph from the Center for Budget and Priorities.
- An estimated 10,000 families in Arizona will lose eligibility for temporary cash assistance as the time limit for that assistance is cut back to 36 months from 60.
- Over 1 million low-income Arizonans will lose access to Medicaid services offered by the state, including emergency dental services, medically necessary dentures, insulin pumps, airway devices for people with chronic lung disease, gastric bypass surgery, certain hearing aids for the deaf or severely hard of hearing, and prosthetics.
- Arizona also will eliminate a host of behavioral health services for 4,000 children ineligible to receive such services through Medicaid, and will eliminate case management, therapy, and transportation services for 14,500 individuals participating in a non-Medicaid program for the seriously mentally ill.
- Georgia will eliminate as many as 284 eligibility workers who help low-income families enroll in the food stamp, Medicaid and TANF programs. Eligibility workers are being cut even as an increasing number of families are qualifying these programs due to economic hardship.
- Idaho’s Department of Health and Welfare will reduce or eliminate cash assistance to 1,250 low-income elderly adults and people with disabilities.
- A Kansas reduction in grants to Centers for Independent Living will result in a loss of services for nearly 2,800 individuals with a disability.
- Minnesota residents successfully transferring from welfare to work will see monthly cash bonuses that they receive from the state cut in half (from $50 to $25.)
Other cuts to programs and services resulting from spending reductions in states’ 2011 budgets have already been implemented or will take effect later on in the new fiscal year:
- Oregon will make significant cuts to community mental health programs, reducing access to crisis services, acute psychiatric treatment, medications and case management services for 1,462 Oregonians with mental illness.
- Colorado is cutting public school spending by $260 million, nearly a 5 percent decline from fiscal year 2010. The cut amounts to more than $400 per student.
- Because of changes that Connecticut made to its Medicaid program, on June 1, 2010, over 220,000 pregnant women, parents, caretaker relatives and disabled and elderly adults lost coverage for over-the-counter medications and nutritional supplements (with exceptions for insulin and supplies, nutritional supplements for those with feeding tubes, and prenatal vitamins.)
- Florida’s 11 public universities will raise tuition by 15 percent for the 2010-11 academic year. This tuition hike, combined with a similar increase in 2009-10, results in a total two-year increase of 32 percent.
- Georgia is cutting state funding for K-12 education for FY 2011 by $403 million or 5.5 percent. The cut has led the state’s board of education to exempt local school districts from class size requirements to reduce costs.
- The state also cut state funding for public higher education. As a result, undergraduate tuition for the fall 2010 semester at Georgia’s four public research universities (Georgia State, Georgia Tech, the Medical College of Georgia, and the University of Georgia) will increase by $500 per semester, or 16 percent. Community college tuition will increase by $50 per semester.
- In Minnesota, as a result of higher education funding cuts, approximately 9,400 students will lose their state financial aid grants entirely, and the remaining state financial aid recipients will see their grants cut by 19 percent. The state is also making a 40 percent cut to state aid for counties that funds child protective services, and services provided to disabled and vulnerable adults.
- Missouri’s fiscal year 2011 budget reduces by 60 percent funding for the state’s only need-based financial aid program, which helps 42,000 students access higher education.
- This cut could be partially restored with other scholarship money, but will still result in a cut of at least 24 percent to need-based aid. The state is also cutting by 46 percent its funding for K-12 transportation.
- The cut in funding likely will lead to longer bus rides and the elimination of routes for some of the 565,000 students who rely on the school bus system.
- Mississippi’s Department of Human Services will lay off 124 workers, 115 of them from a community-based juvenile justice facility.
- Oregon is eliminating a program that helps 2,000 elderly residents who have been diagnosed with Alzheimer’s disease or a related dementia disorder to remain in their homes rather than receiving care in an institution.
- The state is also making major cuts to state funding for in-home care services such as meal preparation and homemaking, affecting another 10,500 elderly residents.
- Oregon is also cutting funding for K-12 schools, community colleges, and pre-K programs; among other results, an estimated 585 fewer children will be able to attend pre-kindergarten in the coming school year.
- Virginia’s $700 million in cuts for the coming biennium include the state’s share of an array of school district operating and capital expenses, and funding for class-size reduction in kindergarten through third grade.
- Washington is imposing a time limit on the receipt of medical and cash assistance by people who are physically and/or mentally incapacitated and unable to work. In 2011, the limit will reduce the number of people receiving medical assistance by 2,350 and the number of people receiving cash assistance by 2,828.
- The state is also cutting a further 6 percent — on top of previous years’ cuts — from direct aid to the state’s six public universities and 34 community colleges, which will lead to further tuition increases, administrative cuts, furloughs, layoffs, and other cuts.
- The state also cut support for college work-study by nearly one-third and suspended funding for a number of its financial aid programs.
- Wyoming is cutting aid to local areas by more than half.
~ AP reports June 2010 ~
WASHINGTON (AP) -- The housing market may be on the verge of taking another plunge that could weaken the broader economic recovery.
Sales of previously occupied homes dipped in May, even though buyers could receive government tax credits.
And nearly a third of sales in May were from foreclosures or other distressed properties. That means home prices could soon be heading down after stabilizing over the past year.
Last month's sales fell 2.2 percent from the previous month to a seasonally adjusted annual rate of 5.66 million, the National Association of Realtors said yesterday.
Analysts who had expected sales to rise expressed concern that the real-estate market could tumble once the benefit of the federal tax incentives is gone entirely, starting next month.
The report is "a worrisome sign for what will occur in July and thereafter when the effect of the tax credit is behind us," said Joshua Shapiro, chief U.S. economist at MFR Inc., an economic consulting firm in New York.
Still, most economists don't expect the housing market to be weak enough to pull the economy back into recession. They anticipate that home sales will dip over the summer, then start growing by fall as the 9.7 percent unemployment rate begins to decline.
Existing home sales have climbed 25 percent from the 4.5 million annual rate they hit in January 2009 -- the lowest level of the recession.
But they're still down 22 percent from the peak rate of 7.25 million in September2005
The report counts home sales once a deal closes. So federal tax credits of up to $8,000 for first-time buyers and up to $6,500 for existing homeowners helped prop up sales in May.
The deadline to get a signed sales contract and qualify was April 30.
Buyers must have had to close their purchases by June 30.
The tax credits were expected to lift sales in May and June. Lawrence Yun, the National Association of Realtors' chief economist, said delays in the mortgage-lending process put about 180,000 potential buyers in limbo.
They are unlikely to qualify by the June 30 deadline. The trade group is pushing Congress to extend the deadline for closing a sale until Sept. 30.
Real-estate agents report a decline in foot traffic, meaning sales could worsen in the coming months.
"The urgency just isn't there," said Pat Lashinksky, CEO of ZipRealty Inc., which has agents in 22 states.
Floyd Scott, broker-owner of Century 21 Arizona-Foothills in Phoenix, said his office had about 25 percent fewer signed contracts to buy homes in May than it did a month earlier.
"The tax credit stopped and boy, I'll tell you, it was like, 'Wait a minute. Is the phone still working?"' Scott said.
Another troubling sign is the number of foreclosures and short sales. Short sales occur when lenders let borrowers sell a home for less than they owe on their mortgage.
Also See ~ Virginia Beach Family Takes Action As They Face Foreclosure.
By Shahien Nasiripour
June 29, 2010 -- Potentially "thousands" of troubled homeowners were denied opportunities to lower their monthly mortgage payments under the Obama administration's signature foreclosure-prevention plan due to servicer errors and inadequate oversight by the Treasury Department, a government audit has found.
Mortgage servicers failed to comply with basic guidelines, used different criteria to evaluate borrowers, recorded error rates up to six times their established thresholds, and couldn't provide evidence that potentially eligible homeowners had been solicited for the administration's Home Affordable Modification Program, also known as HAMP.
The errors are partly due to Treasury's failure to issue specific guidelines for servicers to follow, and the administration's lack of quality-control standards.
Because servicers aren't required to adhere to the same set of standards, there's a risk that firms aren't identifying practices "that may lead to inequitable treatment of borrowers or harm taxpayers through greater potential for fraud or waste," according to a Thursday report by the Government Accountability Office.
But even if servicers were fraudulently modifying loans or improperly denying modifications to distressed homeowners, Treasury "has yet to establish specific consequences or penalties for noncompliance," the GAO notes.
The department has yet to fine any servicers for noncompliance, according to the report.
Already, "Treasury specifically allows some differences in how servicers evaluate borrowers... that could result in inconsistent outcomes for borrowers," the report found.
The end result could be the "inequitable treatment" of struggling homeowners who were looking to an administration for help during the worst economic downturn since the Great Depression.
HAMP is the centerpiece of the administration's $75 billion effort to stem the rising tide of foreclosures.
"I find it saddening and frustrating that none of these problems, which we among other people identified to Treasury over a year ago, have been meaningfully addressed," said Diane E. Thompson, a lawyer with the National Consumer Law Center.
"And as a result, we lost a major opportunity to stem the foreclosure crisis."
Last Thursday, the House Oversight and Government Reform Committee held a hearing to examine "the overall effectiveness of processes put in place by loan servicers as they implement HAMP and any other loan modification programs that help homeowners avoid foreclosures," according to the panel's announcement.
Not a single question was asked about the GAO's troubling findings, according to a transcript of the hearing.
The Treasury Department declined to comment, referring instead to its June 14 letter to GAO.
In its letter, Treasury said it had begun to address many of the shortcomings identified by the watchdog.
For example, Treasury has created a compliance committee to review results and ensure consistent treatment. Also, the agency has carried out on-site reviews of servicers' performance.
But perhaps most important of all, "we believe the GAO did not sufficiently take into account the scope and complexity of the challenges Treasury faced when it developed and implemented a modification initiative, the scale of which has never been previously attempted," Treasury Assistant Secretary for Financial Stability Herbert M. Allison, Jr. wrote.
Treasury data through May show that homeowners in HAMP saw their median monthly payment drop by about 41 percent, meaning that half the homeowners saw a bigger drop than 41 percent while half experienced a smaller decrease.
About 340,000 homeowners have received permanent relief.
More than 16 months after President Barack Obama told a crowd in Mesa, Ariz., of his plan to help up to 4 million homeowners avoid foreclosure through restructured mortgages, nearly 436,000 homeowners have been kicked out of HAMP.
Put another way, 28 percent more homeowners have been bounced from the program than are actively enjoying permanent lower monthly payments.
Servicers largely pin the blame on homeowners, who either fail to provide documents required to modify their mortgages, miss monthly payments or lie about their situation, like their income.
Treasury has echoed that complaint, but it's also pointed its finger at servicers who were slow to gear up for perhaps the biggest effort ever to modify home mortgages and lower borrowers' monthly payments, and thus at times proved inept to handle the volume.
The GAO's report, however, raises fresh questions about the effectiveness of a government program that repeatedly promised to help millions of distressed borrowers keep their homes, and its overseers entrusted with that responsibility.
Among the problem areas GAO identified in its report:
- Half of the 10 servicers GAO interviewed experienced a 20-percent error rate for calculating borrower income when it came to processing loan modifications, when the servicers' "own established error thresholds" were "often set at 3 to 5 percent."
- GAO noted that "without accurate income calculations, similarly situated borrowers... may be inappropriately deemed eligible or ineligible" for HAMP modifications.
- Four of the 10 servicers properly test their results to ensure compliance.
- Treasury's compliance unit identified four servicers that "could not always provide evidence that borrowers who were potentially eligible for HAMP had been solicited," as is required
- Some servicers erroneously charged borrowers "fees prohibited by HAMP guidelines" or failed to reduce borrowers' monthly payments to 31 percent or less of their gross monthly income, a HAMP requirement.
- At least one servicer's review of denied HAMP modifications focuses on whether borrowers were sent denial letters, rather than actually checking to see if homeowners were "appropriately" denied HAMP modifications.
- Treasury's lack of clear consequences "risks inconsistent treatment of servicer noncompliance and lacks transparency with respect to the severity of the steps it will take for specific types of noncompliance."
- Seven of the 10 servicers it contacted used different sets of criteria for determining "imminent default."
"As also noted in SIGTARP's March 2010 report on HAMP, this lack of consistent and clear standards could mean that servicers are inconsistently applying criteria in this area and thereby inequitably treating borrowers across the program."
But "of concern," GAO noted, was that Treasury's compliance unit found that "15 of the largest 20 participating servicers did not comply with various aspects of the program guidelines" when it came to calculating whether borrowers were eligible for HAMP mods.
The calculation, which requires using things like borrower income, the homeowner's equity in their home, and other inputs to determine eligibility, is called the "net present value" test.
In short, if the calculation shows that the owner of the loan -- which includes investors -- would get more money from a modified mortgage than a foreclosure, then the borrower qualifies for a HAMP modification.
This complicated computer program has been guarded with relative secrecy by Treasury.
Broad outlines describing the test have been publicly released, but specifics remain undisclosed.
Because of errors in running these tests -- and Treasury's "lack of specific guidelines" in ensuring servicers grade themselves in a consistent manner -- the number of borrowers who were denied HAMP modifications "could range from a handful to thousands, depending on the size of the servicer and the extent of the error," GAO reports, citing the Treasury Department.
Treasury is making servicers reach out to those homeowners.
"None of these problems are new," Thompson said. "There is no oversight and no accountability for this program.
"There are thousands of people, maybe more than a million, who have lost their homes."
"It's too late for them."
For more, see the GAO's report on this matter here.
It is obvious that the Saturn-Uranus opposition, now nearing its fifth, and gratefully, last exact opposition to one another by July 26, 2010, has allowed unreliable people to make decisions that are not only in serious error, but so far from the mark as to be incredulous.
These historic and challenging times feature great change, and the kinds of changes we witness are usually sudden, deep, and very hard to take, considering the power of the cardinal transits rotating worldwide; along with the various levels of outright incompetence and stupidity obviously rampant within systems fleeced from within by a corrupted generation that loudly stated it would "never sell out."
Looks "sold out" to me.
By David Moon of the Lunar Report
July 5, 2010 -- "Last Thursday I sat and had a beer with a couple of old friends. In a place that has been pretty important to the old friends and me for decades.
That place is going away soon. Not the friends. Just the place. And not the memories. We’ll have those forever.
But the place and the headaches and that tired old comfortable part of us will move on and into the early stages of someone else’s memory.
“I can’t stand change,” is what my Mom says quite often. The woman is 90 years old. You’d think she would be accustomed to change by now. But she’s not. Never will be.
Change is tough. Even if it’s good change. Like a child leaving home to begin his or her new life. To go to school. To be married. Like buying a brand new Mercedes for an older person who only drove Buicks for 50 years.
Like turning a tired old A&P grocery store into a Food Lion with automated check out, wider isles and no coffee bean grinder. We just tend to prefer the comfort of what has always been. No matter how painful that comfort becomes.
I owned a house a few years ago. Well, I was paying for a house that was meant to be owned by me one day. The ex-wife and I bought it in 1984. Just months before our child was born. It was the only home my son ever knew.
It wasn’t an easy thing to do. Actually, the house owned me. You know. When you are buying a house, you pay more than just the mortgage, second, third and fourth ones.
You also are obligated to maintain the cash cow. Well. If I couldn’t even pay the mortgage, how on earth could I afford a new heat pump? Or paint? Or plumbing? Or light bulbs for that matter?
After the wife and I split, I tried to hang onto that home. It was so hard. Shortly after my son left for college, the banks and lawyers came calling. The note was due. I could hang on no longer.
Losing your home to foreclosure is not easy. It’s embarrassing. It’s failure. You know? You had the “American Dream,” and you just sort of let it drift away.
The strong man in your child’s life, the man you always envisioned yourself to be, just couldn’t cut it. That was the hardest part. My idea of what was on my son’s mind. My perception of his perception of his Dad. That was shattered.
Losing that house was one of the hardest changes for me to accept. I guess it’s because I had a certain amount of control over that whole thing. And I let my family down.
But losing that house was also the best change that ever happened to me. Shortly after I gathered my belongings and exiled myself to an 80 year old rental, I was asked my someone, “So why did you move?”
At first, I lowered my head just a bit, wondering how I could tap-dance my way into an adequate answer. Then something came over me.
In a split second, I understood completely that I tried my damnedest to hang onto that house as long as my son was at home. I did that. I did good.
I quickly and proudly lifted my head, looked the other person squarely in the eye and said, “I lost the house to foreclosure.” I smiled.
The other person was a bit taken aback. That was understandable. But that was the end of the discussion about the house and my move.
I have never felt as free as I did after saying what I did to my friend.
Yes, I screwed up by losing that place. But I also succeeded in providing a home for my son until he left home for his own future.
I am human. Like all humans, I make mistakes. That was the first major mistake I can remember ever boldly and totally honestly admitting to anyone. And that honesty has opened up so many wonderful doors ever since.
People trust me these days in ways I never knew possible before that foreclosure admission. More important than that? I trust myself.
To be honest. And to do so with head held high. I guess I finally understand Popeye - “I ams what I ams.” Or something...
It was a change. A very difficult one. But the reward was freedom. And honesty. And dignity. And so many opportunities since.
So. To my friends who are undergoing some pretty harsh life changes right now – embrace them.
Good riddance to all the headaches. Be proud of the things we have accomplished. And welcome the new opportunities.
When we are all settled into our new lives, I will bring more beer. And we will hold our heads up and aimed toward the future. And not down, looking at the worn old floors of days gone by."
To make those responsible for the losses of millions of people to pay, in full, for their greed, corruption, and dirty deeds that has changed entire landscapes of whole neighborhoods, communities, counties, states, and nations.
The effects on people will be considerable, which is why I continue to urge anyone who will listen to take the time to redirect their energies to adapt to these historic changes, which will dominate the lives of many people during the decade of the 2010s.
Unemployment Dreams & Versus?
A Hard Bounce Back?
Or at least for something halfway decent. They still seem to believe that's what work is all about. But they're running out of time."
Class of 2010 Faces Bleak Economic Times: Waiting to graduate is increasingly being followed by long waits in finding work as competition for jobs intensifies like never before in the United Kingdom.
Credit: Matthew Power/Rex Features
By Jeevan Vasager
July 6, 2010 -- LONDON, ENGLAND -- Graduates are facing the most intense scramble in a decade to get a job this summer, as a poll of employers reveals the number of applications for each vacancy has surged to nearly 70 while the number of available positions is predicted to fall by nearly 7%.
The class of 2010 have been told to consider flipping burgers or stacking shelves when they leave university as leading firms in investment banking, law and IT are due to cut graduate jobs this year.
Competition in the jobs market is fiercer now than for the first "post-crunch" generation of students, last year, when there were 48 applications for each vacancy.
The number of applicants chasing each job is so high that nearly 78% of employers are insisting on a 2.1 degree, rendering a 2.2 marginal and effectively ruling out any graduates with a third, according to the survey published tomorrow.
The Association of Graduate Recruiters polled over 200 firms including Cadbury, Marks & Spencer, JP Morgan and Vodafone and found the number of applications per vacancy had risen to 68.8 this year, the highest figure recorded.
In the most hotly contested sector – makers of fast-moving consumer goods such as food, confectionery and cosmetics – there were 205 applications for each job.
Carl Gilleard, the association's chief executive, said graduates needed to be more flexible in their career choices.
"They need both short-term and long-term career goals because you're graduating in a very tough climate. It doesn't mean you should be put off applying for the profession of your choice.
"Any employment is better than no employment [even] if it's about flipping burgers or stacking shelves rather than being sat at home feeling sorry for yourself and vegetating.
There are lots of other skills required and valued, like people skills: you could be on a counter in a store. It's all about building up your skills base. The big fear is that some people just drop off the bottom of the scale – because confidence goes very rapidly."
Gilleard warned that employers were raising the bar on degrees, and graduates with a 2.2 or worse faced being filtered out by automated applications.
"There are dangers in that. You can miss out on some very good candidates."
He said it was too early to say whether this trend would lead to graduates with a 2.2 being excluded from the job market altogether.
In 2008, when the economy was buoyant, just 57% of employers insisted on a 2.1 or higher. Last year that rose to 60%.
"We need to wait for 2011 to see if this is a trend," he said.
Graduate salaries are frozen at an average of £25,000, the first time in the survey's history that starting salaries have remained stagnant for two consecutive years.
But there is some positive news; the survey noted a revival in banking, the insurance sector and accountancy where vacancies were predicted to rise this year.
Apprenticeships, which are likely to expand under the coalition government, might provide an alternative career path for some students, the survey noted.
Gilleard acknowledged there was snobbery about apprenticeships, but said the children of the middle classes should not assume they had to get a degree to succeed.
"I think many middle class parents are actually questioning, is this [a degree] the right route that my son or daughter should follow.
"Too many young people go [to university] because it's expected of them, and they don't think it through from a personal perspective – what will it be like, apart from having a good time."
As applications for university places continue to soar, the government has urged universities to publish statements revealing the help they offer to get their students ready for work.
Responding to the survey, the minister for universities, David Willetts, said: "The job market remains challenging for new graduates, as it does for others.
"But a degree is still a good investment in the long term, and graduates have a key role to play in helping Britain out of the recession.
We are committed to making it easier for current graduates to find work. That is why I have just asked all universities to provide statements on employability for their students."
The president of the National Union of Students, Aaron Porter, urged the government to invest in creating jobs and training:
"We are concerned that the savage cuts to the public sector will create further unemployment, and will make the lives of graduates tougher in an already difficult jobs market."
For the fourth year in a row, demand for university places has hit a record high.
At the end of May, there were over 640,000 applications for places this autumn – an increase of nearly 14% on last year.
As universities face an increased challenge in selecting the best candidates, there is some skepticism about the new A* grade, being awarded for the first time this summer in an attempt to distinguish the cream of the crop.
Fewer than a third of university admissions officers believe the A* grade would be crucial in selecting the most able students, according to a separate survey published today.
While over half of the 40 admissions officers surveyed believed grade inflation made it harder to pick the best candidates, fewer than a third thought the A* was "essential".
The survey was commissioned by a network of international schools which favor a rival qualification, the international baccalaureate.
The Cardinal Crisis
Consider this report of one event concerning a German hedge fund player:
Mr. Frerichs was the director of two funds, K1 Invest and K1 Global, controlled by Helmut Kiener, the founder of K1 Group.
Mr. Kiener has been in custody in Würzburg, Germany, since October 2009 on suspicion of operating a pyramid scheme, defrauding thousands of private investors and banks including JPMorgan Chase, Barclays and BNP Paribas of more than €300 million, or $375 million.
She said his weapon had been retrieved by divers and would be used, along with an autopsy, to determine the exact circumstances of his death.
Still, he said there’s no evidence that the firm intentionally pushed down marks for its own benefit.
~ Zach Carter reported July 1, 2010 ~
"Today, Goldman Sachs sent its second-highest-ranking officer to Washington, D.C. to tell the Financial Crisis Inquiry Commission that his company is staffed and managed by complete idiots.
These businesses are enormously profitable for the company, and help the company make money by doing things that are morally repulsive (setting their own clients up to fail, starving people, etc.).
"This is a ridiculous line of questioning. What the hell is the FCIC trying to get at? There is NO SUCH THING as a ‘derivatives business.’
This in fact illustrates how industry lobbyists have managed to muddy policy debates, to the advantage of the industry, by lumping a lot of disparate activities under the derivatives banner.
Goldman no doubt has commodities futures businesses, [foreign exchange] and currency swaps, and corporate and asset backed credit default swaps activities.
I’m sure it also engages in stock and bond index and futures trading in a number of markets.
I’m a big believer in knowing what questions you are trying to answer when drilling into data, and I see no utility in having an aggregate figure across these activities."
It is ridiculous that so many very different kinds of transactions are all classified under the banner of “derivatives” and this is very clearly a result of effective lobbying.
Given the extensive deregulation of derivatives, banks have different incentives to pursue derivatives income than they have for other types of banking.
And yet, Goldman has a $40 trillion (notional) business in various derivatives businesses housed at that commercial bank unit, which it moved there as soon as it established the commercial bank.
- April 6-7 - Pluto stations retrograde at 5-Capricorn
- April 7, 2010 - Saturn re-enters tropical Virgo
- April 26, 2010 - Saturn opposes Uranus (4th opposition)
- May 23, 2010 - Jupiter opposes Saturn (first time since 1990-91)
- May 27-28, 2010 - Uranus enters tropical Aries
- May 30th, 2010 - Saturn stations direct motion at 27-Virgo
- June 5-6, 2010 - Jupiter enters tropical Aries
- June 6-7, 2010 - Mars enters tropical Virgo
- June 8, 2010 - Jupiter conjoins Uranus at 0-Aries
- July 5, 2010 - Uranus stations retrograde at 0-Aries
- July 8, 2010 - Jupiter turns North in declination
- July 11, 2010 - New Moon total eclipse at 19-Cancer (not seen in N. America)
- July 21, 2010 - Saturn re-enters tropical Libra for good
- July 23, 2010 - Jupiter stations retrograde
- July 25, 2010 - Jupiter Squares Pluto
- July 26, 2010 - Fifth Saturn/Uranus opposition
- July 31, 2010 - Mars & Jupiter turn S in Declination
- July 31 - Mars conjoins Saturn at 0-Libra
- August 3, 2010 - Jupiter, retrograde, Squares Pluto again
- August 6, 2010 - Venus turns South in Declination
- August 13-14, 2010 - Uranus re-enters tropical Pisces
- August 16, 2010 - Jupiter Opposes Saturn
- August 20, 2010 - Mercury retrogrades in Virgo
- August 21, 2010 - Saturn Squares Pluto
- September 8, 2010 - Saturn turns South in declination
- September 8, 2010 - New Moon at 15-Virgo
- September 8, 2010 - Venus enters Scorpio
- September 8-9, 2010 - Jupiter re-enters tropical Pisces
- September 12, 2010 - Mercury stations direct
- September 14, 2010 - Pluto stations direct
- September 14, 2010 - Mars enters Scorpio
- September 19, 2010 - Jupiter conjoins Uranus for first time in Pisces
- October 8, 2010 - Venus retrograde in Scorpio
- October 29-30 - Venus turns to "morning star" phase for ten months
- November 6, 7, 2010 - Neptune direct in motion
- November 18 - Venus stations direct
- November 18 - Jupiter stations direct
- December 5, 6- Uranus stations direct motion
- December 10-30 - Mercury retrograde
- January 4, 2011 - Jupiter conjoins Uranus a third time
- January 22, 2011 - Jupiter enters Aries
- Jan. 25, 26 - Saturn stations retrograde 17-Libra
- February 25, 2011 - Jupiter Squares Pluto
- March 3, 2011 - Transiting Lunar Nodes shift to Mutable Quality of Sagittarius & Gemini
- March 11-12, 2011 - Uranus enters Aries (first time in 84 years)
- March 28, 2011 - Jupiter opposes Saturn
The internal battles in Greece because of heavy sovereign debt and deep austerity will re-ignite over the summer months of 2010.
Nature Erupts: Volcanic activity as Uranus enters Aries.
That 1,000 point drop: May 6, 2010 proved to be one of the strangest days in the history of the Dow Jones. A mysterious "1,000-point" plunge in the afternoon hours, blamed on a "fat finger," lost money for tens of thousands of traders and nearly collapsed the stock market. Federal authorities investigate, but the "glitch" still has not been explained nearly a month later.
The year 2011 is the start of a new cycle, mainly brought on by the official entry of Uranus into Aries, the first time in 84 years.
~ Mundane Review: 2010-2015 ~
There are six (6) major transits of the Cardinal Crisis Years - signified by the planets involved & their inclinations:
- Saturn oppose Uranus -
Much cooperation is needed to avoid falling into the unfavorable inclinations of Saturn's opposition to Uranus.
Extreme viewpoints expressed by the ignorant and mentally ill fall under this influence. Loud public pronouncements shouted with wild mannerisms expressing inconsistent attitudes can be observed.
Common sights are: bugged-eye pundits uttering unsubstantiated personal opinions as facts; personal attacks, insults, and acerbic comments designed to bring attention to oneself.
Impulse, haste, snap judgments, immaturity, poor communication skills lacking any sign of social grace and basic manners can be observed.
There is widespread conflict between the old order and the new emerging order. This is generational.
Concepts and ideas in economic, business and political affairs tend to be impractical, unreliable, and eccentric. Economic life continues to run at a low ebb.
Saturn's opposition to Uranus is unfavorable when dealing with joint accounts, finances, corporate business affairs, inheritances, insurance, and all economic matters important to organizations, groups, and individuals.
Selfish motives within organizations, and groups tend to be those where others try to take credit for the work of others in order to advance their own careers leading to estrangements between associates, colleagues and friends.
The will power of those involved in personal and professional intrigues is heightened to the point of very negative inclinations with some people using coercive methods to achieve what they perceive as success.
Under Saturn/Pluto this can feature acts of blackmail, threats, and plots at the highest levels of government, within political groups, and corporations.
Paranoid individuals with extreme opinions, and viewpoints is also common under A Saturn/Pluto square.
Some individuals will find themselves battling against corruption and rampant dishonesty within organizations, or within associations, be they professional or personal with attacks on their reputation coming as a result of fighting dishonest persons and groups.
The coming revelations of widespread corruption in global financial markets, on Wall Street, and other stock markets will be under the Saturn/Pluto square.
Corporate power plays take center stage under the cardinal crisis transits with increasing political pressure and regulatory scrutiny on major banks, insurance companies, and those implicated in widespread financial malfeasance over the last decade.
The focus on these areas: unemployment, insurance, housing, stock markets, hedge funds, secret bank accounts, general economics, political and government affairs, alimony, and inheritances - is all common under the influences of Saturn's square from Libra to Pluto in Capricorn.
It is also common under these inclinations for opposing groups and individuals to use negative, dishonest, and evil means to obtain personal/profession advantages over others; or attempts to hide past acts of malfeasance to avoid implicating others involved in acts of corruption.
This often backfires under the Saturn/Pluto square and results in public scandal along with damage to the reputation and the careers of those who used negative means to gain what they "perceive" to be an advantage.
Nowhere does "do unto others as you would have them do unto you' applies more than under a Saturn/Pluto world square.
The effect on personal and professional connections can be long-lasting with people completely breaking off any further association with friends, family and colleagues.
Power struggles - both internal and external - is a main theme of a Saturn/Pluto Square.
Often, decisions are based on perceived "associations" with others who are not one's friends, nor who share one's common interests, except to advance their own personal interests while using others as a means to and end. Very common under Saturn's square to Pluto.
After the square aspect passes, the events which have taken place under its influences are fully revealed, leading to permanent estrangements from those once trusted and valued as friends, associates, or lovers.
Saturn's continued transit through Libra (2010-2012) then features a full distrust and estrangement from those who used dishonest means during the Saturn/Pluto inclinations.
The Jupiter/Pluto Square acts much like that of Saturn's square to Pluto. Jupiter's motion into Aries in mid-2010, and then again in February 2011, will square Pluto in tropical Capricorn.
The same kinds of conflicts under Saturn's influence by square to Pluto comes into action with hasty, impulsive and headstrong promotion of one's opinions as facts to gain a perceived advantage over others.
Rampant litigation under Jupiter's inclinations lead to a rush toward legal wars without first seeing the bigger picture. With the Jupiter square to Pluto: it is the forest first, the trees second, but do make sure you count each tree.
The contradictions of this is simple:
Often, this comes about because of ego, and headstrong acts featuring arrogance and pride; but wholly failing to take into account the small, but very important details.
The only way to neutralize this transit, as with all the others of the Cardinal Crisis transits is to slow down, and to be strictly honest at all times in all personal and business affairs.
Also, the need to remain detached and practical while plodding step-by-step without ego, impulse, and haste. This is the antidote to the impulsive inclinations of cardinal transits.
Power-plays, and forced acts of coercion, with promotions of extreme expressions of personal, political and religious viewpoints is quite common under this global square.
Often, one's aspirations to remake others comes with neglecting one's own house while confused attitudes about ethics and morality are cast aside in favor of haste and impulse - rushing to judgment.
Struggles with corrupted individuals and groups is also common under a Jupiter/Pluto Square.
Pisces/Aries - Virgo/Libra
Jupiter at 0-10 degrees Taurus
Such will be the case with the 2010-2012 opposition of Jupiter/Saturn. During these oppositions expect business to suffer as the generational transition continues over the course of Jupiter's opposition to Saturn.
Because of the poor economic climate some people may resort towards using questionable tactics to get ahead and make money.
The desired expansion of business is fraught with frustration after frustration, red-tape, barriers, blocks, delays, and legal problems. Rising defaults & bankruptcies increase as a result of past mismanagement of resources and corruption with credit conditions tighter than normal.
The crush of competition, fighting for a limited amount of customers, with resources lacking can further cause disruptions in professional and personal lives to the point of some leaving entire industries for good.
It is a poor time to seek favors from others, as the business climate of 2010-2012 will continue to suffer from immense commercial & residential real estate losses, double-digit unemployment, and a general sense of malaise from an aging generational establishment.
Those seeing support from official institutions, such as federal, state, and local agencies, may find themselves frustrated with the lack of help usually expected from these offices.
While this takes place, many people will see their own personal and professional responsibilities increase; while wages continue to stagnate from the lack of resources, which will be limited because of prior economic corruption and waste.
The opposition of Jupiter to Saturn can test what the true balance really is between being optimistic, and being pessimistic. Much will depend on the ability of the individual to be creative, and patient, while the opposition is underway.
Many of these people will be older, and due to the transit of Saturn, will exhibit rigid views without realizing that in a short period of time after the opposition has waned and passed; that they themselves will receive similar treatment from the very people whom they denied opportunities and relief.
The conflicts which come about during 2010-2012 under the Jupiter/Saturn opposition will tend towards ethics; morals; joint finances, family responsibilities, friendships, associations, romantic relationships, partnerships and corporate struggles that will test the reliability and strength of relationships in general.
The Jupiter/Saturn opposition will begin to weaken in February 2012, and by the end of March 2012, will move out of orb.
- 25º Libra - "The sign of an autumn leaf brings to a pilgrim the sudden revelation of the mystery of life and death."
- 26º Libra - "An Eagle and a large White Dove Turning into each other."
An unprecedented Seven (7) exact squares occur in just three (3) years: 2012 to 2015
(*) = significant dates
1. June 24, 2012 – first global square at 8-degrees Aries/Capricorn
2. *September 18-19, 2012 – second square at 6-degrees Aries/Capricorn
3. May 20, 2013 – third square at 11-degrees Aries/Capricorn
4. November 1, 2013 – fourth square at 9-degrees Aries/Capricorn
5. *April 21, 2014 – fifth square at 13-degrees Aries/Capricorn
6. December 14-15, 2014 – sixth square at 12-degrees Aries/Capricorn
7. *March 16-17, 2015 – seventh global square at 15-degrees Aries/Capricorn
The last time Uranus and Pluto met in global square aspect was during the 1930s. This was a decade of reactionary, extreme right-wing politics, revolutionary socialism, rising crime, rebellions, revolts, and restrictive laws gradually reducing freedoms throughout Europe and the then-Soviet Union.
The Bank Crisis and Stock Market Crash of 1929-33 fueled the early years of the Great Depression with rising waves of petty crime and bank robberies. The resulting foreclosures of homes, businesses and family farms amid a depressed global economic system cast a dark shadow over the world.
The NYSE reaching its lowest trading point in history. Weather anomalies under the influence of Uranus in Aries led to the hottest year in U.S. history in 1933-34 with drought and dust storms raging across the American Midwest.
Meanwhile, political extremism ensued with the rise of tyrants, as Adolf Hitler rose to power in Germany while in Japan, radical forms of militarism spread so much that it was being openly taught in elementary and high schools.
The revolts, rebellions and revolutionary sentiments under the Uranus/Pluto squares thus paved the way for the Second World War that followed by the end of the 1930s.
Uranus in Aries and Pluto in Capricorn revolve their squares worldwide for much of the 2010s, but the most powerful periods are between 2012 through 2015.
This is a time of great upsets within nations which have now experienced at least four to seven years in the wake of the global economic crisis.
Uranus' penchant for sudden change against Pluto's desire structure in Capricorn for a kind of transformational war that butt heads over the "kinds" of new changes to be realized and those not to be supported.
While this is happening, populations around the world seem to have had it to their chins with the constant disruptions of their lives; the losses of lifestyles over the years.
Groups, organizations and individuals have become radicalized by the events since 2008. So much so, that by the time (June 2012) of the first of seven exact Uranus/Pluto square social unrest is a certainty in regions around the world.
There are increasing signs of rebellions, revolts and foreboding examples of revolutionary sentiments expressed in various nations upset with the status quo, represented by Pluto in Capricorn.
The headstrong inclinations of Aries, with Uranus in it's 7-year transit in this sign, squaring Pluto can indicate sudden deaths coming about unexpectedly; usually through acts of violence, and from common accidents, and unexpected large-scale disasters related to weather extremes.
Past associations, friendships and relationships can become radically changed under Uranus and Pluto's cardinal squares. It is at this time, between 2012-2015 that companies that were hanging on by a thread financially - can suddenly break and fall into bankruptcy.
The entry of Neptune into tropical Pisces in February 2012 will impress dissolution on failing companies afterward, with a slow, but gradual death into the mid-to-late 2010s.
The sudden losses associated with Uranus' transit in Aries can bring about greater financial losses than expected while corporations continue to witness power struggles as the generational transition picks up speed in the early to mid-2010s.
The revolutionary sentiments inclined by Uranus/Pluto come about as a result of the frustrations of the decade of the 2000s.
The global economic crisis, and the resulting societal effects have angered many populations who feel that their governments and representatives were not representing them, but corporate monied-interests that pilfered society's resources.
The resulting backlash featured under the Uranus/Pluto squares of the 2010s will be widespread, and quite unsettling for those involved in the mismanagement of trillions of dollars and euros over the previous decade.
Rising crime can be a problem; also fueled by the lack of resources because of the Banking Crisis of 2008-2012.
State officials, under pressure financially, are forced to release thousands of prisoners in the early 2010s to relieve the system from overcrowding.
If there has been little reform of the system during the time of incarcerations, then obviously the lingering effects of the economic crisis that awaits convicts on the street can be a threat to public safety under the Uranus/Pluto squares.
By the spring of 2014, things become quite tense again globally with another Cardinal Cross - this time a Grand Cross configuration featuring Mars, Jupiter, Uranus, and Pluto in the Signs of Libra, Cancer, Aries and Capricorn.
Grand Cross configurations in cardinal signs seek immediate release of strong, emotional pent-up energies.