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| Dont be ignorant. Enlighten yourself. Realize what the problem with America is. | ||
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| .4ngryToasters |
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you would
Registered Member #149
Joined: Sun Feb 12 2006, 01:08AMPosts: 2039 |
peacebypeice wrote ... Does your bank make you take out loans that you don't need? I didn't watch the whole video but it seemed that they were placing all of the blame on the banks that people were taking out loans that they couldn't afford and shouldn't have taken out in the first place. There should be pretty equal blame placed on the ignorance of some people to take out these obviously unneeded loans. 100% agree, but you should watch the whole thing, not just the beginning. Honestly could've done without the cartooney antics, but the point was clear. The only problem I find with these types of movies or documentaries is there are never any sources cited, and they never offer a solution to the problem. I suppose if everyone made a run on the bank like they did in 1929, that might cause some damage, but good luck organizing enough people to do that (perhaps anonymous might have enough influence?). Plus consider the after effects of hyper-inflation once said event took place. |
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| peacebypeice |
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peacebypeice
Registered Member #925
Joined: Mon Nov 26 2007, 05:23AMPosts: 1452 |
I agree toast I should watch the whole thing but I have a very short attention span for things that in my mind compare with tmz or entertainment tonight about who is sucking who's dick. I try to be very open to ideas but that just seems like extreme propaganda. My main point of my post is the idiots who get behind this idea ONLY because they were stupid enough to take out a loan for a house they couldn't afford on a $30,000 salary. This is not to say that Glitch/Noskill don't have a point on their side of the argument because the banks are obviously proving to be very unethical given certain circumstances. Personally I chose to stay out of politics for the time being |
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| Madvillain |
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Registered Member #445
Joined: Sun Oct 01 2006, 11:42PMPosts: 2233 |
peacebypeice wrote ... Personally I chose to stay out of politics for the time being cant be too complacent |
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| gLiTch |
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Anal Assassin
Registered Member #455
Joined: Mon Oct 09 2006, 04:58AMPosts: 3848 |
Peace i agree with you because the people taking out these loans shouldnt have. They were living beyond their means. However, what IS true was that the banks were in fact promising people very very low interest rates for "x" amount of time and when that rate went up they can come back and refinance the mortgage. When these people went back, refinancing option was not there (at least at the rate they were promised). Now, while i do blame the private local banks and the people asking for money... i blame the central bank, the federal reserve for printing so much damn money. We should have defaulted a LOOOOONG time ago. Our dollar means absolute shit. And we are paying more taxes on money that is worth less because the government needs more of it due to the fact there is much less value standing behind it. Meanwhile, all of our merchandise goes up in price. We are fucked. |
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| .4ngryToasters |
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you would
Registered Member #149
Joined: Sun Feb 12 2006, 01:08AM Posts: 2039 |
Perhaps I am ignorant on the matter, but how does a country default on a loan? | ||
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| b4ndito |
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b4ndito
Registered Member #958
Joined: Fri Jan 04 2008, 06:59AMPosts: 3385 |
.4ngryToasters wrote ... Perhaps I am ignorant on the matter, but how does a country default on a loan? The same way anyone else does. They don't have enough money to pay for it. |
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| peacebypeice |
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peacebypeice
Registered Member #925
Joined: Mon Nov 26 2007, 05:23AM Posts: 1452 |
b4ndito wrote ... .4ngryToasters wrote ... Perhaps I am ignorant on the matter, but how does a country default on a loan? The same way anyone else does. They don't have enough money to pay for it. Yet we haven't had enough money to pay back China for a very long time |
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