i def agree with you on the fact that it seems these days no body is accountable for their actions, i mean if you can sue and win that you bought a coffee and it was hot, we are in trouble.Accountability is rare these days, it's always someone else's fault.
i def agree with you on the fact that it seems these days no body is accountable for their actions, i mean if you can sue and win that you bought a coffee and it was hot, we are in trouble.
however, i do not agree with the notion that OWS does not have validity.
the housing bubble was a sham-
i heard the idea somewhere that the way the banking and loan system is designed it functions similar to musical chairs- in the sense that the banks give out loans and the amount of money that the loans sum up to is theoretically greater than the amount of money circulating to repay it. so, when the music stops some people are left with out a seat, with out a means to repay, and the bank then claims their property and obtains actual wealth.
i get the feeling that all of the people who oppose the OWS message must be pro government bail outs... and by that against a free market.
the fact a bank can loan out 90% more than the money they actually have leads to problems. i dont think this is opinion. rate of inflation continues to increase beyond the compensations made in wages- this is not a good trend to stick with.
Nope, I think OWS has the wrong idea, and I refuse to be part of the 99%.i get the feeling that all of the people who oppose the OWS message must be pro government bail outs... and by that against a free market.
There were some VERY devious/illegal practices by the banks regarding foreclosures. They did it in a way that people that payed their mortgages every month were forced out. It's quite outrageous. It's not only about not paying. Search "robo signers" in google. It's amazing people aren't in jail for this practice.I am not sure how I feel about this. What was the reason for the foreclosures? I only know of one way... You don't pay the mortgage. Soooo, who's to blame for that?
kudos for your 53% achievement-:drunk:
Nope, I think OWS has the wrong idea, and I refuse to be part of the 99%.
I also loathe Obama and his socialist agendas. His bailouts are going to be the death of our country as we spiral further into debt. Want welfare? take a drug test. Need two years of unemployment benefits? screw you, take a lesser job and rethink what you're doing. Have time to occupy a park for months? Why not spend that time bettering yourself and WORKING for a living.
I am part of the 53%. We are the people that work and pay taxes along with the mortgages that we got within our means. Just because a Porsche salesman can get me some creative financing and get me into that new car doesn't mean I can actually afford it. That's why I don't drive one, even though I certainly could.
We, the 53% are paying for the supposed 99%.
I'm not saying that the 1% are right, I'm saying that a lot of the 99% are just **** disturbers and hippies that found a new place to hang out.
What about the other side of the coin? You bought a house for 200K and 3 years later it's worth 250K, does the bank have the right to be paid more money? Unfortunately, when you sign a contract, you're bound to it whether or not it turns out to be a bad deal... But you don't expect the system to be rigged against you.With economy fluctuations constantly - there are times when a bank gives you a mortgage for a home. Then with the economy dropping, the home is no longer worth what the bank originally gave you for it. So the bank wants to reclaim the difference so that they aren't in the negative.
Example: You bought a house for $200,000. Due to the bad Economy it's now only worth $150,000. You have made your payments, so now you have a balance of $190,000. The bank wants that $40,000 difference awfully fast or else your out.
In my opinion for these cases, it's not the peoples fault.
I think the Occupy protests are great--it's about darn time Americans show a little emotion instead of just bending over. I haven't had a proper protest since the sixties, so we're a little unsure how to do this. My problem with my Occupy people is they don't quite understand what they should be mad at. We need to understand the real causes of many of our problems: the central banks and the revolving door between big business and government.We need rebellion, and uprising to get their attention. Sitting in a park is ********. Quietly holding up a sign and hoping is childish. How many of those people will vote for Obama again?
Ron Paul baby!
I may be reading this wrong but are you implying that a house is an "investment" As in it will always be worth more than you paid for it?What about the other side of the coin? You bought a house for 200K and 3 years later it's worth 250K, does the bank have the right to be paid more money? Unfortunately, when you sign a contract, you're bound to it whether or not it turns out to be a bad deal... But you don't expect the system to be rigged against you.
So the crux of the problem is the fact that a lot of criminal things happened in the creating/processing of loans which created an abundance of cash and people looking for homes. It was artificial demand that caused the prices to rise much faster than inflation.
Everything was great until the whole thing unraveled, most people that bought homes during the bubble are sitting on an "investment" that's worth much less than there mortgage. The bankers largely don't care because they made their commissions and pushed the load down the road for someone else to deal with. That person down the road is your retirement fund/401k that took a beating because Wall Street hid all the risk...
More than anything else, it sickens me that no one has been held accountable for this crap. The American people got a REALLY shitty deal in all this and that's one of the many reasons why OWS protests are occurring.