Tadpole

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    • Mon Aug 4th 17:42 PM | Rating: 0 0
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      Housing Crisis Likely to Wipe Out Two Decades of Family-Earned Wealth
      Hey I come from the UK and we are starting to have similar problems with our economy. The problem that I see is this; our economies are totaly underpinned by debt rather than Gold reserves. In other words, our economy needs to keep growing or it will go into total meltdown. For this reason rather than being citizens of our countries the way we used to be, the globalised world now regards us as being consumers. ie as long as we keep buying stuff we cannot afford to have then the economy is growing and everything is fine. I now wonder if these so called city of London and Wall Street bankers actually passed their college exams. The reason I say that is because for years now they have encouraged consumers to take out large mortgages and have multiple credit cards with the stupid mantra that "Credit is Cheap" as if interest rates would never go up again. So now people got into huge debts they could not pay back, and what advice did the bankers give us. Well they said why not take out a debt consolidation loan, youve got loads of equity in your house. The lesson from all this is that bankers are greedy, concerned only with making money for themselves. They are self serving disgusting Rats. And as for the financial media industry. Well they do say the markets are governed by sentiment. So what they do is talk a load of bullshit lies. Lets face the truth. They call us consumers, but this evil empire globalised economy is starting to consume us !
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