Injustice and the Greek Crisis

[earthloop]

I read this today and it added more fuel my rising anger over the all the bullshit surrounding the continuing effects of 'global financial crisis' ! It makes my blood boil!

http://www.guardian.co.uk/world/2012/fe ... intcmp=239

Regardless of what or who is to blame for the current 'Greek debt' (I have my own ideas but leave that for another time) there is no excuse for the extent to which the other 'Europeans' are putting Greece to the sword in order to cover the asses of major global financiers and the banks in general...and, of course, the finances of the other Euro countries. For make no mistake, this is all about saving the biggest and the richest (organisations and individuals) at the cost of the ordinary citizens of Greece.

As always, it is about politicians serving their REAL masters!

[nycmex77]

yup that shit is messed up. wonder when that wave will slam the west hard.

[LoopStationZebra]

Well, let's be clear...it's GERMANY that's been bailing out Greece.

It's like round #3 at this point, isn't it?

Let's hope BITWIG starts turning a profit soon.

[Machinesworking]

Well, let's be clear...it's GERMANY that's been bailing out Greece.

It's like round #3 at this point, isn't it?

Let's hope BITWIG starts turning a profit soon.

Well the point here is that the people of Greece haven't been making the decisions, the banks and government have.

I suppose it could be argued that they could vote out the politicians etc. but I can't imagine that a country as old as Greece would possibly have a huge cache of rich and powerful people who actually pull the strings? that would never happen!

[beats me]

WRONG! It's all about everyday Joes having access to easily accessible credit that allows them to live way beyond their means.

I don't give a fuck which country this happens in. FFS take some personal responsibility.

[Machinesworking]

WRONG! It's all about everyday Joes having access to easily accessible credit that allows them to live way beyond their means.

I don't give a fuck which country this happens in. FFS take some personal responsibility.

OK here are four stories about the Mortgage Crisis as it pertains to people I know and myself:

1. Personally I made out I guess, I bought a house for easily 1/2 what it was worth. I'm making roughly 1/2 of what I was before 2008, I rent out all the rooms in the place to young adults. It's rough, but I'm surviving.

2. My friend who encouraged me to go it alone as a solo contractor, well he's back in the union. He hates the union, total republican. He partnered up with a guy who had a multi million dollar excavating business that tanked big time in 08. He put all of the money from the successful sale of his first house into his second one, and is in the process of losing that house to the bank.

3. A union vietnamese guy I worked with saved $40,000 to put a down payment on a house. Took him ten years or so. He got married and had some kids. He was laid off for almost an entire year, and lost his house.

4. Last but least. A guy I know is pissed that his house is worth nothing, so he's letting it get eaten by the bank, because he has another house in a better neighborhood.

Basically not one of these people fit your narrow definition of scandalous greedy self serving types who were living beyond their means. I'm sick and tired of working slobs trying to blame people for doing the best they can. In fact the only person I feel is out of line a bit is the guy who has enough personal wealth to dump yet another house on a flooded market! Though you can't blame him for not wanting to take the chance I guess?

The real creeps here are the banks, the ones that can handle the "speculative" loss got 40K off my two ex coworkers and are sitting on those houses until the market goes back up, assholes.

Get a clue this isn't about losing a car to a lot because you bought the best one you could. It's about people buying a house when they thought their jobs were secure enough even in an inflated real estate market. That, and shitty fucks like the banker who kept on trying to give me a $2500 a month mortgage loan because for the previous three years I made more than enough to cover that.

[Machinesworking]

If someone promised your friends in writing that their jobs would be secure in the future they should seek legal action

Otherwise, welcome to the real world

You work for a company for ten plus years, it's time to buy a house, anybody that actually owns property and gets out of their caste or ahead in life does this.
Yes there's always a chance shit hits the fan. The point is not one of us did the "wrong" thing. Nobody was living above their means.

Buying what u can't afford is in fact living beyond your means; how secure you "thought" your job was is a comforting thought for you and you alone. Nobody else cares

OK that sounds like the kind of emotional cripple logic you've been spreading around this board. Not going to play feed the retard on this one.

People taking personal responsibility for their actions surely couldn't HURT, which I think is what beats was alluding to

Of course it couldn't, but getting ahead in this world involves taking risks, if there hadn't been a system in place (read that as greedy bankers if you will) that fed into peoples desires and took MAJOR risks with our money and financial security for short term gain to the point of bankrupting our governments and destroying tiny economies like Iceland, Ireland and Greece then I doubt a bunch of lower and middle class stiffs would have tanked so hard.

I'm fucking frugal financially so I wasn't about to buy a house when I "could", but man, that fucking banker sent me cards all the time trying to get me to buy. I could see how some married guy with a wife and kid would think he could just work all the time and at least his kid would grow up in a decent house. That's how my grandfather did it. You can't even do that now because the wealthy in this country have gotten so greedy that even two working class jobs barely make enough to rent an apartment and feed two kids and a wife.

[docprosper]

The sad truth is, most folks (at least the ones I know, myself included) require credit to 'own' a home. Using credit isn't intellectually crippling necessarily, it's all about risk management. Manage your risks, do your best to improve your living situation, I.e. Move out of mom's house.

Also, Levi, thinks aren't nearly as cut and dry as your holier- than- thou attitude would make them appear. Junk loans, ARMs, etc have been peddled deceptively in the states for quite some time, this is FACT. The banks are, at least somewhat, to blame.

[docprosper]

Sounds like you've got it all figured out, kiddo!

[Machinesworking]

You work for a company for ten plus years, it's time to buy a house, anybody that actually owns property and gets out of their caste or ahead in life does this.

Oh really? Well, perhaps it's time for you to reevaluate this idea because apparently not many people you know actually end up retaining their "property"

Meanwhile, the few people I know who do own their own home didn't buy the house with the money from their job, they bought the land and built the house themselves. Obviously this is cheaper in the beginning and much more profitable in the long run.

But most importantly, they did this immediately, not after ten years of working then hoping things will turn out ok.

All these people not only still own their homes but have additional homes they built and rent out. This is saying something because it's not cheap to live in Hawaii.

Maybe you and your friends should cultivate some original thought and make decisions based on the factual information of today's world instead of the ideals your parents and grandparents had.

OK you live in your mothers basement, I own my own home, I built it up from where it was when I bought it. It's doubled in value in the two years that I've owned it.

Read that again if it hasn't sunk in. You're afraid of taking risks and have some friends that did OK, so do I. For the purpose of debate I named three extreme cases.
You really have no clue about any of this, popping up with people who build houses from the ground up etc. what a garbage story. Should I name my own dad who now owns the mortgage on two houses, as in he collects the mortgage, and owns outright two other houses? If I was a hopeless douche bag I would, I would pop into this thread and talk about how I did the right thing and so did my dad and all my friends who lost houses are "unnecessary" risk taking losers. I would place blame on people who saved 40K for a house and worked at the same company for over a decade, because that's a risky thing to do... you really have no clue about any of this, that's not the end of the world or a reason to dislike you, but the fact that you think you do is what makes 99% of the people in this board or probably your friends as well think you're a bit thick. Again you have no idea what you're talking about, you need to realize that or every conversation you have on these boards is going to
end up in an argument, if you haven't noticed already...

BTW I'm drug free, and your idiotic comments about drugs give all of us a bad name, another issue you haven't a clue about...

Also I'm busy, I made a promise to myself to not feed trolls, so you can run down to your moms computer in the basement and come back with whatever pathetic attempt you want to to further derail this thread, but I'm done with chatting with you in general. Your posts I largely avoid, because you're either 15 and a loud mouth, or brain damaged.

[oddstep]

Loving the patois. I've learnt about Polynesian breath sharing and cultural resistance today. Punches sky in solidarity. the drug use thread was worth the licence fee on its own.

[LoopStationZebra]

I'm amazed that David has allowed this guy to continue....

[beats me]

Yes, I think banks and predatory lending take a part in all this. But back when everybody was buying a house I honestly believed they all had better paying jobs than me. The thought of buying a house never even crossed my mind. At the very least if I walked into a bank inquiring about a loan and the current terms were agreeable, the first question I would ask is if the payment was going to stay the same for the foreseeable future. Then when they told me it was going to double or more in the very foreseeable future I would have walked out with a fuck you very much. And I’m no fiscal genius.

I’ll probably be a lifetime renter until my parents pass away and I inherit their house. And I have no problem with that. I don’t give a shit about “but you’re paying somebody else’s mortgage!”. Yup, and when something breaks I don’t have to pay for it. The upsetting part is now the market is flooded with renters with money who are driving up my cost of living. About 5 months ago my rent went up 21%, which is legal, and after doing some research to possibly move to a cheaper place I discovered that our rent isn’t too far off from the norm given the square footage and neighborhood.

I was telling my roommate we’re part of the disappearing middle class but he insists we’re the working poor. But the fact of the matter is 2 guys with our same jobs 20 years ago would have been able to buy a house and live comfortably.

[nycmex77]

[LoopStationZebra]

Pfft. Apparently socialism isn't either.