2010 Report: 93% of all new income created to the top 1%

well, if you're investing for 5 years from now, think about that

there will be panic in the streets... 1/4 of the population uses food stamps as currency now.
 
nice job crying about bank bailouts

do you realize how much money went to fannie, freddie, GM, etc vs the banks?
 
do you realize that the banks caused the problem in the first place? do you not understand that an economy does not work in a vacuum?
 
aaaaaaaand now we see that ixiterra has no idea what he is talking about
 
2010 Report: Togowack lives in a half-built shack in the middle of nowhere with his mother and he's batshit insane
 
I'd like to support Ron Paul, but can't. He has great ideas and is probably one of the only politicians who isn't completely blindfolded.
 
Ron Paul is from Texas. I don't think most of you realize the risk he takes when he stands in front of Bernanke and accuses him of hijacking the economy. He's lucky people don't take him seriously...
 
Ixiterra said:
do you realize that the banks caused the problem in the first place? do you not understand that an economy does not work in a vacuum?
Click to expand...

not really the banks fault. actual mortgage crisis had a lot of components: dumbass americans who don't know what variable rate interest means, and don't know how much house they can afford; shady mortgage loan agents that misrepresent information; clinton for shoving subprime mortgages down people's throats; fannie/Freddie/aig and other companies for insurance against subprime mortgage defaults

the term "subprime mortgage" already tells you it's a bad idea. and in a way, you could say that the mortgage bust itself was just things going back to normal, since the people who lost their homes were the ones who couldn't afford them in the first place

the mortgage crisis is one thing, and yes the economic effect wouldn't have been as massive without the financial sector imploding. you could blame the banks. or you could blame the government for lack of regulation. you could blame insurance companies for even allowing credit default swaps, which makes no fucking sense since you can't exactly take out life insurance on everyone in your neighborhood. you can blame moody's/S&P for investment-grade credit ratings to a bunch of bullshit they didn't even understand

the real problem is exploitation of the derivatives market. you can pretty much trade anything you can imagine, and if not, you can create it. it's like vegas and wild west with less rules.

stop posting about shit you don't understand
 
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ixiterra is saying the banks caused the problem. Politics and regulation never had anything to do it. Again, people think politicians are in control, in reality they have none, not since 1913.
 
but yeah, as a religious fundamentalist, I say if people were living in line with the word, they wouldn't be in that kind of debt and their finances would be on an upward path, not a downward path

but when you abandon that, people don't know what to do. They do what the authorities tell them. Without the bible there is no moral standard or spiritual base, and people will find there is no obvious path forward.
 
as you say people are stupid and allowed themselves to take out loans they can't afford. Everyone is capable of making stupid decisions given the right circumstances. The future is never certain. The bible says to stay out of debt, period.

the masses are supposed to read the book and better themselves, instead the school system teaches them to go into debt
 
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