Lifestyle > Train of Thought
Recession is about to get WORSE
virtuoso:
--- Quote from: IRAN iz Gangsta! on March 30, 2010, 05:28:00 PM ---one of the main things thats causing all this is the REAL ESTATE hault. No ones really buying houses anymore cuz no one is selling and the short sale and foreclosed homes are bunch of scams with too much paperwork and waiting period so regular people dont waste their time. Not only that, prices are so high that banks cant give out loans cuz no one makes enough money for those prices. The banks need to stop holding on to these houses and just lower the loans or the prices and get rid of them. Let the market become alive and people will start buying and selling again which will fix ALOT of things believe it or not. Real Estate was the reason many people lost their jobs. So stop the greediness and cut ur losses short, the more banks keep the houses, the worse all this shit will be.
its like if u have a sega dreamcast and someone wants to buy it for $50 but ur not selling it cuz u bought it for $200
--- End quote ---
The real estate is the core foundations, which they have imploded deliberately so to, they allowed the bubble to get really big and then they universally announced a credit crunch. That credit crunch has caused free credit to dry up, leading to a sudden plummet in house prices, knocking people down into negative equity which means they are unable to sell their homes and furthermore without any equity, they are unable to acquire more credit, since borrowers were happy to give when the market was going up.
They have ripped the heart out of of the market and caused a depression which despite how severe we keep saying it is, is only the very start, you think unemployment is high now, you just wait. Obama aint shit, McCain aint shit, Palin aint shit, politicians don't run this country, the banks do, this is a banking coup. Yet we are all still running around pointing fingers at the politicians and squabbling about whether the budget should be cut and where.
Oh and it gets better, the banks will keep charging people late fees when they can't repay their mortgages for as long as possible and then when there is nothing left to milk, they are then compensated by the federal government for that mortgage.
As for the why? the order which owns the world has bled south america, africa etc dry, now they are doing the same to the west, because there is nowhere else left to feed off. However it seems they don't give a shit about killing the host, they want it all.
This is about absolute power
IRAN iz Gangsta!:
--- Quote from: virtuoso on March 31, 2010, 06:01:55 PM ---
--- Quote from: IRAN iz Gangsta! on March 30, 2010, 05:28:00 PM ---one of the main things thats causing all this is the REAL ESTATE hault. No ones really buying houses anymore cuz no one is selling and the short sale and foreclosed homes are bunch of scams with too much paperwork and waiting period so regular people dont waste their time. Not only that, prices are so high that banks cant give out loans cuz no one makes enough money for those prices. The banks need to stop holding on to these houses and just lower the loans or the prices and get rid of them. Let the market become alive and people will start buying and selling again which will fix ALOT of things believe it or not. Real Estate was the reason many people lost their jobs. So stop the greediness and cut ur losses short, the more banks keep the houses, the worse all this shit will be.
its like if u have a sega dreamcast and someone wants to buy it for $50 but ur not selling it cuz u bought it for $200
--- End quote ---
politicians don't run this country, the banks do, this is a banking coup.
This is about absolute power
--- End quote ---
i agree with everything u said but what is the point of doing this if everyone is gonna be broke, their gonna run out of money at some point. I dont understand why they cant just let business run and everyone can make money. Greed has really ruined the world. If recession gets worse then how can people live? as it is they cant so if these banks think they're being smart about this then they must be doing some hardcore drugs.
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