It's no accident ...

Vent spleen here.

Re: It's no accident ...

PostPosted by bastard behind the eyes » Sat Mar 19, 2011 5:51 pm

Revolution (hurrr hurrr sniiggger) is that a naughty word?

And what exactly are people in the UK going to revolt against? Take the banks out and you'll take out most of society with them and the great poor unwashed will go down first.

Anyway it isn't the banks fault, its the govt. They print money to inflate away their own debt and the banks are forced to do something with it and if there is nothing productive to do with it then people will buy houses etc with it, etc etc.
Blame the govt.
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Re: It's no accident ...

PostPosted by jeff wode » Tue Mar 22, 2011 11:57 am

it wasnt the banks or the govts fault. it was the people who shafted the finance system, ok the banks should have been more careful who they loaned to, but the reason that the system went tits up was because people took out unsustainable levels of debt that they then couldnt maintain. if you earn 25k a year, then you borrow 300k to buy a house, it doesnt take a rocket scientist to do the sums and figure out that its an unaffordable multiple of your earnings, top this up with swathes of credit card and loan debt and the system was riding for a fall. but when it went belly up, everyone forgot all about this and just blamed the banks. but the banks problems were mainly because of the profligate behaviour of the great british (and american) consumer. nobody realised it seems that eventually, someone somewhere has to pay the piper.
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Re: It's no accident ...

PostPosted by Withwine and I » Tue Mar 22, 2011 7:21 pm

I would venture to suggest that in general, people are idiots. Also people are greedy. If you offer a greedy idiot something good now and say it will have to be paid for later, the greedy idiot will take it and not worry about the consequences. If you are supposed to be intelligent should it perhaps not occur to you that offering this to the greedy idiot who has no method of repayment is a bad idea?

The banks are supposed to be composed of professionals who know what they are doing, selling to the gullible public who are supposed to choose their financial services based on the fact a man in glasses can sing a bowdlerised version of a recent hit, or that a bunch of cartoon people with giant noses are having fun on a train. If, and it's a very big if, for the sake of argument we accept the banks as a good thing, then at least we should be able to point out that in their capacity as reasonable professionals they are under something of an obligation to look after more than the minutest of small term interests and perhaps notice that the meth-head shotgun-toting yaboo trying to make his dog jump through a burning hoop is not the most prudent of financial planners and that maybe, just maybe he might default on any loan made to him.

Of course since lending money to people who pay back with minimal or no interest isn't much good for short term profits of course the ratings system are skewed to favour nice big fat turkeys whose debts are never cleared, but just grow and grow and grow until the whole stinking edifice explodes from the buildup of bile and shit it's forced to feed on as a result of its own inane and gluttonous crapulence.
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Re: It's no accident ...

PostPosted by bastard behind the eyes » Mon Apr 04, 2011 3:11 pm

I'm especially an idiot. I'm selling my 300k house to subsidise cheap food for the people. Ok call me a charitable idiot but at least I am doing something to help people and not just knitting yoghurt for a living.
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Re: It's no accident ...

PostPosted by bastard behind the eyes » Mon Apr 04, 2011 4:18 pm

jeff wode wrote:it wasnt the banks or the govts fault. it was the people who shafted the finance system, ok the banks should have been more careful who they loaned to, but the reason that the system went tits up was because people took out unsustainable levels of debt that they then couldnt maintain. if you earn 25k a year, then you borrow 300k to buy a house, it doesnt take a rocket scientist to do the sums and figure out that its an unaffordable multiple of your earnings, top this up with swathes of credit card and loan debt and the system was riding for a fall. but when it went belly up, everyone forgot all about this and just blamed the banks. but the banks problems were mainly because of the profligate behaviour of the great british (and american) consumer. nobody realised it seems that eventually, someone somewhere has to pay the piper.


They couldn't maintain payments because credit was made easy to "get rid" of the fiat money printed by the govt.
Ergo govt's fault.
Have a look here. http://www.howitends.co.uk/
I'd be interested to hear any one who can disagree with anything written here.
TIme to start investing in that Cumbrian smallholding near a lake. Hang on....
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Re: It's no accident ...

PostPosted by McFuck » Tue Apr 05, 2011 2:14 am

bastard behind the eyes wrote:and not just knitting yoghurt for a living.


I'd like to see that!
Don't attempt anything without the gloves.
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