Lets be honest. Most of us haven't got a clue what caused the start of the world economic collapse, toxic assets, derivitives etc. But we are ALL
going to pay in one way or many more for a long long time.
Just saw this little video on Youtube very funny but the best explanation I've seen yet.
Youtube Linky
You can make you own vids on xtranormal, loads of different characters and scenes, voices etc. I wasted hours and hours on there before!
just prooves a point; the world is run by egotists, sponsored by idiots and backed by fools.
Its just that we don't want to admit it because they have got all our money.
[Edited on 30/11/10 by jollygreengiant]
quote:
Originally posted by jollygreengiant
Just proves a point; the world is run by egotists, sponsored by idiots and backed by fools.
Its just that we don't want to admit it because they have got all our money.
[Edited on 30/11/10 by jollygreengiant]
So the people who took out the loans they couldn't afford are completely innocent in this?
quote:
Originally posted by scudderfish
So the people who took out the loans they couldn't afford are completely innocent in this?
quote:
Originally posted by Ivan
quote:
Originally posted by scudderfish
So the people who took out the loans they couldn't afford are completely innocent in this?
No - not innocent, greedy and dishonest because they knew they could never pay it back.
Theres a lot more too it than just those who knowingly took out too big loans. There was and is huge fraud within the industry making loans knowing
that they would get a house or business worth much more when they defaulted. Also many many who had good well paid jobs with the ability to pay and
then found their jobs gone to China and India and at the same time as new taxes tax increases and healthcare going up.
Obahmas (Barry) health care bill has made it compulsory for an employer to pay for their employees private healthcare and if a small company on the
edge can't afford it then it bye bye to your business.
However.. there is good news!!!
Mc'Donalds, Walmart and 111 companies and organisations are exempt from paying and supplying it. It seems its the law unless your already rich.
Surprise surprise.
Video here
It's simple really. Banks saw their role as lending without asking too many questions and paid themselves for a "job well done". People
saw the norm as living on loans and borrowed without asking questions.
Suddenly people start defaulting on the loans they could never afford and the banks start realising that giving someone 110% the value of a property
is a "very bad idea" because if they don't pay up you've got -10% of the property as collateral. Meanwhile, the bankers have been
siphoning a nice percentage out of the moneys going through their hands so they haven't even got 100% of the collateral (because they've
taken most of it).
Add in banks lending to banks (yet more %ages being siphoned off) etc etc.
Quantitative easing is just a way of making back the money that shouldn't have been taken out of the cycle in the first place IE the bankers
cut.
Sorry by from my point of view this situation was just a big Emperor's New Clothes experiment- they all fail eventually when a critical mass
realise it's BS. The City was doing well and when they told the Government "we're doing well" the government though the city was
referring to the country not just themselves
I blame the Government for not regulating the bankers and the bankers for being stupid enough to not see where it was all going to end.
^^+1
I'm not sure how anyone can not blame the banks. The largest lenders ran a campaign of convincing people to take loans (Not everyone is
intelligent) When they became toxic they repackaged them and hid the fact that they would probably default. They sold them to other banks and
speculators who also sold them on each making profit until the high street banks get greedy with your savings and use them to gamble on the markets
not even knowing what their buying but making obscene bonus's until the bubble burst. Then the governments print a load more of non existent
money and borrow from others who print a load and give it to the banks who continue to gamble and take huge bonus's and get fat while here we
lose our jobs and public services while tax goes up, food prices, fuel prices, utilities (profits up 50% in the last 2 months) prices go up the value
of your assets goes down all so you can pay a second time to keep the banks rich.
So I guess Scudderfish you must be out on the streets right now protesting for bank reform? Who knows now what the banks are doing never mind the
average person in Ireland 5 yrs ago? Why are the banks not paying through HUGE taxes? Have you seen the banks seperated between investment banks and
high street banks yet as promised? No it business as usual. Don't underestimate how deep the banking tentacles spread into politics and decision
making.
The best understanding I ever got of what the monetary and tax system is for is Video link
I think the worst aspect of the whole business is that in the USA (not sure about elsewhere) that the banks have almost trebled their margins on home
loans from something like 2% over the repo rate to something like 6%. As a result the taxpayer sponsored reduction in repo rate is not helping the
home owners by reducing repayments and stimulating the economy, but just giving the bank a huge increase in profits and bonuses to the bankers.
The above is seriously delaying the economic recovery that could happen if home loan rates in the USA where halved which would still leave banks
plenty of profit for recovery.
It seems to me that in places like Ireland, the us, france et al, you have governments who are afraid of making people pay tax. Bound to cause
problems ydon't you think?
Also we buy from people we trust, and the banks have always been seen as worthy of our trust, so those who borrowed on their overpriced real estate
were borrowing from the trustworthy emporer who happened to be the mafia. Very very depressing topic...
[Edited on 30/11/10 by RK]
whilst direct tax may be lower than some places the indirect taxation in this pitiful island is by far the highest i've ever encountered.
Yu're not the first to say that! But think of the nice weather you have!
Blah Blah Blah change the record, are you bored at home and cant think of anything that has something to do with cars.
Right, fuel prices and road tax it is then 
quote:
Originally posted by baldeagle
Blah Blah Blah change the record, are you bored at home and cant think of anything that has something to do with cars.
quote:
Originally posted by baldeagle
Blah Blah Blah change the record, are you bored at home and cant think of anything that has something to do with cars.
quote:
Originally posted by baldeagle
Blah Blah Blah change the record, are you bored at home and cant think of anything that has something to do with cars.
quote:
Originally posted by LoMoss
quote:
Originally posted by baldeagle
Blah Blah Blah change the record, are you bored at home and cant think of anything that has something to do with cars.
Do we have a banker in our midst
So Mr Bored at home, name caller, exactly where has your so called intellectual rant got you - absolutely nowhere. So why don't you just stop
wasting your energy on here and get off your BUM and do something more pro-active about the things your complaining about.
Having a section on Non-car chat is all well and good and I wholeheartedly agree with it, but come on, lets have a decent topic, rather than the doom
and gloom you seem to sprout off.
Thank goodness I don't live in your depressive little world.
PS your intellect really does shine through with petty name calling and (cleaver, I think not) letter changing. however, I'm not opposed to
coming down to your level.
All very simple Shaun.
If you don't lie it then nobody is forcing you to click on the thread or take an interest in anything on it.. easy hey.
Talking of cars seen as the site is a kit car forum.
In your nearly 3 years of membership and your very active 15 posts in that time...
Did you ever actually build, buy or drive a kit car yet
Doesn't seem that you qualify to much to be telling me what I can chat about on here. Mind you of course you won't be reading this will you
as you have no interest.
Feel free to go elsewhere and start your own thread about cars if you wish and everyone can tell you how much fun they are.
[Edited on 1/12/10 by FFTS]