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irishlad76 (January 1, 1970 at 12:59 am)
vulnerabledonkey! i agree fully!
vulnerabledonkey (January 1, 1970 at 12:59 am)
Please remove all symbols of the treachorous LAbour Party from this video. New Labour is not a socialist party. They are that in name alone.Look em up.
irishlad76 (January 1, 1970 at 12:59 am)
hugely overvalued mortages...
irishlad76 (January 1, 1970 at 12:59 am)
To be honest. I don't buy that argument. The way I look at it is that financial institutions chasing greater profits looked to untapped markets.Even if your argument holds weight within the US, why then is there such a huge property bubble in countries like Ireland, where the fed holds no influence.Rather, developers saw huge profits to be made from the property market, flooded the market, artifically inflated prices to a level that ordinary people couldn't afford houses except through
brodie2288 (January 1, 1970 at 12:59 am)
Also the numerous programs and institutions (also socialistic) enacted including the Community Reinvestment Act, Fannie Mae and Freddie Mac, FDIC, and HUD mandates. The banks were forced to give loans to those of subprime and GSE like Fannie Mae & Freddie Mac brought these mortgages and securitized and sold them on the open market which polluted the financial markets.
brodie2288 (January 1, 1970 at 12:59 am)
The crisis was caused by a housing bubble created by artificially low interest, credit manipulation and arbitrary money supply by the FED designed and enacted to continue an unsustainable housing boom. It is the monetary system we have (which is socialistic) that has manipulated market mechanism and robbed people of their economic power and put it in the hands of a centralised authority.
strapt313 (January 1, 1970 at 12:59 am)
and when it turns into the socialist elite, what will you say then? so you honestly think that the bankers and corporations will forfeit some of their power? you would be crazy and naive to think such a thing. the only thing that will change is that even more power will be the super elites hands with the capability of telling you how much you should be allowed to make. if you like that so much, try living in cuba. i hear its real nice this time of year.
irishlad76 (January 1, 1970 at 12:59 am)
The socialism I'm talking about is TAKING the power back for ordinary working people from the capitalist elite that our ruining our world and devastating the lives of millions around our world. I'm not talking about handing over power to big goverment elites. I'm talking about real economic democracy in which the decisions affecting peoples lives are taken by those people and not undemocratically in some closed board room
irishlad76 (January 1, 1970 at 12:59 am)
From Reagan and Thatcher onward, we've had 3 decades of more and more dergulation and privatisation and this has led to a hotter and more volatile economic system based more and more upon the financial economy rather than the 'real' economy. This has led to the rampant profit chasing, and the creation of the various bubbles we've had to deal with in the last 10-15 years
strapt313 (January 1, 1970 at 12:59 am)
he fucking worked for it. the man in the suit went to school, got a good job and now he makes money. the single mother with two children should have used a condom and planned for her future like the guy in the business suit did. don't make me pay for someone else's dumb decisions. |
