[Help] World Financial Crisis rant Updates to this post /post/199289-world-financial-crisis-rant Tue, 08 Dec 2009 19:37:17 +0100 Reply from Captain K /post/199289-world-financial-crisis-rant#reply-4250574 I think we got in this mess due to people that wanted that material thing like a home and did whatever it took to get in it even if they couldn’t afford it and then when it all adjusted they had no choice but to give it up they didn’t think long term just what they could get now. If we could resist the now and wait so many folks would be better off. I live in Southern California and have a $6000.00 per month mortgage if I couldn’t afford that to begin with I would have been crazy to get it just because I wanted it. The numbers had to make sense most folks don’t even look at it that way.

]]> Captain K Fri, 19 Sep 2008 22:27:26 +0100 Reply from Sasha101 /post/199289-world-financial-crisis-rant#reply-4249729 I agree, we do live beyond our means at times, but on the other hand Im presently spending $250 a week on food alone, thats without utilities , gas and such, thank goodness we have a decent wage coming in. How those people with a $400 doller a week income do it I really dont know, especially if they have a mortgage. The cost of living is going way up, and the wages don’t seem to be going up to meet inflation.

]]> Sasha101 Fri, 19 Sep 2008 18:30:20 +0100 Reply from disgruntled /post/199289-world-financial-crisis-rant#reply-4249570 [quote PomPom]its based on credit but the day we stop getting credit, the system will collapse, but then we can go back to growing stuff locally and getting what we need in life and having services provided by us that we need, we can all go back to eating cream cakes from bakeries locally who are not part of a global brand or even national at that, people will have to start learning the old skills again and we will be free[/quote]

Very idealistic, and completely not possible with today’s global culture

[quote PomPom]we could start printing our own money and starting to trade locally, i know none of this is likely to happen anytime soon, but this is because again, we let the current system carry on[/quote]

That “money” wouldnt be “worth” anything. Money replaces bartering, which is when people would just trade a skill or product in return for someone else’s skill or product. I.e I’ll give you a chicken if you fix my gate.

But yes, my dream world is one where everyone is self sufficient, they use community as a value, and money and war don’t rule the world, but kindness and love do. Unfortunately I don’t ever see that happening in my lifetime… or any other for that matter. Humans are still animals, far from evolved into intelligence as most of us believe. Whilst we still fight, kill, lie and demean others, we shall still be basic animals in my book

]]> disgruntled Fri, 19 Sep 2008 17:47:51 +0100 Reply from PomPom /post/199289-world-financial-crisis-rant#reply-4249551 basically, if there are no banks, humans will still have to survive, whose fault is it that the world is at their mercy? ours

]]> PomPom Fri, 19 Sep 2008 17:44:26 +0100 Reply from PomPom /post/199289-world-financial-crisis-rant#reply-4249548 we could start printing our own money and starting to trade locally, i know none of this is likely to happen anytime soon, but this is because again, we let the current system carry on

]]> PomPom Fri, 19 Sep 2008 17:43:54 +0100 Reply from PomPom /post/199289-world-financial-crisis-rant#reply-4249542 its based on credit but the day we stop getting credit, the system will collapse, but then we can go back to growing stuff locally and getting what we need in life and having services provided by us that we need, we can all go back to eating cream cakes from bakeries locally who are not part of a global brand or even national at that, people will have to start learning the old skills again and we will be free

]]> PomPom Fri, 19 Sep 2008 17:43:00 +0100 Reply from disgruntled /post/199289-world-financial-crisis-rant#reply-4249533 SoulRising is right.

I’ve not checked those links out, but if I remember correctly, the entire US economy is based on credit, and not a solid financial backing of gold, oil or precious jewels. Their banking system was set up before they found the natural resources which could then back their monetary system, but because that’s all privately owned, and their financial systems were already in place, it was too late to change the system.

Correct me if I’m wrong…

And devaluation is when they print more money than they have commodity to back it up.. is that right too..?! eg if you have 2 cows. each cow is worth £5. But if you print 3 £5 notes, then each cow is worth £7.50….so product price goes up as a result, and value of the actual money is lowered.

I think I’m all out of economic brain power now! I need chocolate!

]]> disgruntled Fri, 19 Sep 2008 17:40:29 +0100 Reply from SoulRising /post/199289-world-financial-crisis-rant#reply-4249462 It is called the DEVALUATION of the dollar. If you had a good education and not the one provided by the government controlled system(s) you would understand exactly what is happening. This is not an accident. It did not just happen, it is caused. The history books you are being taught omit some key facts about the Federal Reserve and the United States of America’s financial history.

http://www.youtube.com/watch?v=OnwLgr…

Money as Debt:

http://www.youtube.com/watch?v=vVkFb2…

]]> SoulRising Fri, 19 Sep 2008 17:26:55 +0100 Reply from disgruntled /post/199289-world-financial-crisis-rant#reply-4249448 [quote PomPom]well when i took out my mortgage, the man tried to get me to take out an endowment but i knew that that meant i would pay all the interest first and i was like hell no and went for an ordinary repayment one, i know lots of people got stung by that too, also, how can you get conned into paying something? they have to write everything down for you, i still say even though the banks gave out these dodgy mortgages, still people took them out when they couldn’t afford them, at least they would have known how much the monthly repayment would be?[/quote]

PomPom. we in the UK are feeling the strain because a lot of our banks invested heavily in the US property market, which suffered a huge downfall because in the US fewer people are able to purchase houses because a lot of their country’s money was being plowed into the military to support their troops in Iraq and Afghanistan.

People shouldn’t be materialistic, they do need to be aware of the greater things in life, like enjoying a sunset, or going for walks and sleeping under the stars, but our global economy is based on consumerism, and everything is cored around marketing. It’s more a case of dissatisfaction with our societal ways than financial problems.

]]> disgruntled Fri, 19 Sep 2008 17:24:37 +0100 Reply from PomPom /post/199289-world-financial-crisis-rant#reply-4249431 i know so many people, my cousin for example took a house for 170k and the mortgage payment is over 800 a month, so she is working her *** off to make sure its paid, why did she have to buy a big house? because its a status symbol and people scoff at you if you have a small house, how many more people are there out there like her? loads, i bet, so many people told me i should sell my house but i said hell no, if i was stupid i would have listened to them, my mortgage is only 156 a month which is peanuts, why would i take on more debt? its totally in my control, ok, so meanwhile i live in a small house.. so who cares? again, why are people so stupid and materialistic?

]]> PomPom Fri, 19 Sep 2008 17:21:32 +0100 Reply from PomPom /post/199289-world-financial-crisis-rant#reply-4249407 well when i took out my mortgage, the man tried to get me to take out an endowment but i knew that that meant i would pay all the interest first and i was like hell no and went for an ordinary repayment one, i know lots of people got stung by that too, also, how can you get conned into paying something? they have to write everything down for you, i still say even though the banks gave out these dodgy mortgages, still people took them out when they couldn’t afford them, at least they would have known how much the monthly repayment would be?

]]> PomPom Fri, 19 Sep 2008 17:18:35 +0100 Reply from nonn /post/199289-world-financial-crisis-rant#reply-4249388 yeah but it was sub prime mortgaes that ware the problem and banks not people living beyond there means they were conned in to taking out mortgages they wouldnt be able to pay and the banks for wrapping iy up in a nice little package and selling it now there is no money none of them want to lend to each other its all the banks fault i myself am on the side lines but the way i look at it is shouldnt the companys that got themselfs in to this mess go bankrupt and then everyone will not be scrimping and saving

but it wont happen becasue its bug buisness and worth billions

]]> nonn Fri, 19 Sep 2008 17:14:41 +0100 Reply from disgruntled /post/199289-world-financial-crisis-rant#reply-4249379 I agree, to a degree, but seeing as today the world doesnt really base financial structures on the state ownership gold and silver (it’s just another product/commodity) and it uses a credit system, it means that in order for the financial problems to be reduced, people need to spend more money in their economy for it to be fixed. I know that sounds like a quandry, but it’s sort of like “what goes aroudn comes around” spend money to make money, etc etc. Basically if you don’t spend money, then industries close, people are out of jobs, and the circle of finances stops abruptly which puts a lot of people in more danger than they are now. I’m not saying everyone should start going on a spending spree, but it doesnt help if we all stagnate the movement of money either.

Altho I do agree with living within your means, and I too make sure my bills and rent are first and foremost in the planning of my budget.

]]> disgruntled Fri, 19 Sep 2008 17:12:52 +0100 Reply from Lucey /post/199289-world-financial-crisis-rant#reply-4249366 i agree with you, i am so careful about making sure the bills are paid before any luxuries are bought,

]]> Lucey Fri, 19 Sep 2008 17:09:41 +0100