You missed the most … You missed the most important part. The Government encouraged secondary market, the GSE’s Freddy and Fannie and the CRA. The Government encouraged the bad loans and created the secondary market rules that caused all the irresponsible lending. THAT IS THE POINT, GOVERNMENT CAUSED IT.
Greed, things the … Greed, things the last decade went incredibly fast. What about the Credit Bureau they have a great part in all of this mess, their words are investors God. If they say thumbs up they buy it…….
Just to clarify – … Just to clarify – The price of all houses may increase with inflation, but the real value of a house does not increase unless there is demand/supply situation in which buyers have increasing demand AND a legitimate ability to pay. In an economy with no bubble there should be enough construction to maintain an essentially constant price unless you live in Manhattan or some similar situation. In an inflationary situation houses will rise no faster than any other commodity.
Exactly. You are … Exactly. You are 100% accurate. We can blame the government all we want, but people do not realize how connected we are. We do NOT live in a zero-sum economy. Which means that, yes, indeed, what we do affects the guy next door in a small, but real way. By being an unscrupulous with our finances, we have deprived the world of stable economy. But the law should protect us from people that supersede the rights of others, as it tries to do already. So ultimately I blame the government.
Just hear the part: … Just hear the part: “Boss, u are a genious” … “I know”….
Actually, their personal assets are very good… some ppl got very very rich… I guess that from now, we will be more careful, even if the market is not…
House Prices ALWAYS GO UP – this is TRUE but only in the LONG TERM which is at least over a DECADE and they go up in a certain fixed manner – they do NOT go up SUDDENLY with MASSIVE SPEED as we witnessed – by 200% in 5 Years as then they come DOWN at the SAME SPEED until it comes to its NATURAL/REALISTIC PRICE based on AVERAGE INCOME of the nation.
So the Property Bubble of the West UP the WEST and some of the World!.
Yes and all these … Yes and all these bad loans have been insured by (Credit Default Swaps)and not just on houses, bad bonds, bad loans $64 Trillion of them and guess what that insurance has just been passed on to the US taxpayer. Yes $64 Trillion!!!!!! America is going suffer financial collapse in months not years
This is a brilliant … This is a brilliant well put together video. I really thought this world was too far economically advanced to see another depression but it seems that I am wrong. I really hope we don’t see one. And what’s caused all this? Greed.
2vintage68 got it spot on when he says the same players in the video want to dump all the losses on us, not them. If the world economy melts down then we are all fucked.
Half the story? … Half the story? Look at when this was created sim… 6 months ago! Long before Fannie, Freddie, Lehman, Merril and all these politicians now screaming armageddon… this was when they were still yapping about “The economy is sound, go out & buy more stuff.” I’d say it was a of a forecast…
www.GreenRoomStocks.com
September 4th, 2010 at 11:19 am
I liked the …
I liked the Norwegians hat
September 4th, 2010 at 11:19 am
You missed the most …
You missed the most important part. The Government encouraged secondary market, the GSE’s Freddy and Fannie and the CRA. The Government encouraged the bad loans and created the secondary market rules that caused all the irresponsible lending. THAT IS THE POINT, GOVERNMENT CAUSED IT.
September 4th, 2010 at 11:19 am
Greed, things the …
Greed, things the last decade went incredibly fast. What about the Credit Bureau they have a great part in all of this mess, their words are investors God. If they say thumbs up they buy it…….
September 4th, 2010 at 11:19 am
hehe well done!!
hehe well done!!
September 4th, 2010 at 11:19 am
Just to clarify – …
Just to clarify – The price of all houses may increase with inflation, but the real value of a house does not increase unless there is demand/supply situation in which buyers have increasing demand AND a legitimate ability to pay. In an economy with no bubble there should be enough construction to maintain an essentially constant price unless you live in Manhattan or some similar situation. In an inflationary situation houses will rise no faster than any other commodity.
September 4th, 2010 at 11:19 am
if you really want …
if you really want to get out of debt, check out
nomortgage4u. com
Free, simple, effectiev tips and resources to get you debt free fast. Take a few minutes now to save yourself years of payments later.
September 4th, 2010 at 11:19 am
Correction, I meant …
Correction, I meant we DO live in a zero-sum economy.
September 4th, 2010 at 11:19 am
Exactly. You are …
Exactly. You are 100% accurate. We can blame the government all we want, but people do not realize how connected we are. We do NOT live in a zero-sum economy. Which means that, yes, indeed, what we do affects the guy next door in a small, but real way. By being an unscrupulous with our finances, we have deprived the world of stable economy. But the law should protect us from people that supersede the rights of others, as it tries to do already. So ultimately I blame the government.
September 4th, 2010 at 11:19 am
Just never forget …
Just never forget where the scene started. A guy giving a loan to a guy who knew he couldn’t pay it and neither of them cared.
September 4th, 2010 at 11:19 am
F*cking brilliant, …
F*cking brilliant, thank you for this. If only the media would tell it like it is. more chance of seeing pigs fly.
September 4th, 2010 at 11:19 am
Just hear the part: …
Just hear the part: “Boss, u are a genious” … “I know”….
Actually, their personal assets are very good… some ppl got very very rich… I guess that from now, we will be more careful, even if the market is not…
September 4th, 2010 at 11:19 am
Sorry, there is no …
Sorry, there is no perpetual motion machine which generates an ever-rising path for prices of homes.
It’s thinking like this that inflates the bubbles.
September 4th, 2010 at 11:19 am
How stupid can you …
How stupid can you get?
House Prices ALWAYS GO UP – this is TRUE but only in the LONG TERM which is at least over a DECADE and they go up in a certain fixed manner – they do NOT go up SUDDENLY with MASSIVE SPEED as we witnessed – by 200% in 5 Years as then they come DOWN at the SAME SPEED until it comes to its NATURAL/REALISTIC PRICE based on AVERAGE INCOME of the nation.
So the Property Bubble of the West UP the WEST and some of the World!.
How stupid are the banks,Govt etc
September 4th, 2010 at 11:19 am
Yes and all these …
Yes and all these bad loans have been insured by (Credit Default Swaps)and not just on houses, bad bonds, bad loans $64 Trillion of them and guess what that insurance has just been passed on to the US taxpayer. Yes $64 Trillion!!!!!! America is going suffer financial collapse in months not years
September 4th, 2010 at 11:19 am
Finally someone …
Finally someone explains the subprime market issue so that anyone can understand this methodology. Great job!
September 4th, 2010 at 11:19 am
Ha ha ha ha ha! …
Ha ha ha ha ha! What a useless Fed, Treasury, Rating Agency and George Bush! Shame on them all!
September 4th, 2010 at 11:19 am
may i suggest the …
may i suggest the bloody “pause” button
September 4th, 2010 at 11:19 am
yeah would be funny …
yeah would be funny if i had a chance ot read the bloody thing…..slow the transition down
September 4th, 2010 at 11:19 am
This is a brilliant …
This is a brilliant well put together video. I really thought this world was too far economically advanced to see another depression but it seems that I am wrong. I really hope we don’t see one. And what’s caused all this? Greed.
2vintage68 got it spot on when he says the same players in the video want to dump all the losses on us, not them. If the world economy melts down then we are all fucked.
September 4th, 2010 at 11:19 am
nj man, that was …
nj man, that was hilarious.
September 4th, 2010 at 11:19 am
Half the story? …
Half the story? Look at when this was created sim… 6 months ago! Long before Fannie, Freddie, Lehman, Merril and all these politicians now screaming armageddon… this was when they were still yapping about “The economy is sound, go out & buy more stuff.” I’d say it was a of a forecast…
September 4th, 2010 at 11:19 am
Oops–no mention of …
Oops–no mention of the federal government’s role, e.g. Fannie Mae and Freddie Mac. At least the creator got half the story.
September 4th, 2010 at 11:19 am
That was bomb.
That was bomb.
September 4th, 2010 at 11:19 am
da gubbament
da gubbament
September 4th, 2010 at 11:19 am
brilliant!!!!! haha
brilliant!!!!! haha