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originally posted by: stormcell
Yes, I remember all those good things around the early 1980's . Inflation at 5% or less, savings interest rates at 10%, credit card interest at 15%, private pension plans with employers you stayed with for life. Homes and mortgages that just required one wage earner. A second wage earner allowed the family to buy little luxuries.
Before then, there were green stamp savings schemes. You bought stamps, put them in a book, and then redeem those stamps for a cheque. A safe way to save money. Banks would have little information leaflets showing you much money you could save using compound interest. It was a curve that looked like a rocket launch.
TV used to be good as well - watching any programme would be like a reflection into your own home. They would always have the studios decorated for Christmas and New Year with tinsel and decorations and Easter with eggs and bunnies.
Then all the banks started being public traded, and then the "investors" just kept taking more and more. Savings interest rates kept being cut, credit card interest rates started rising. There was the great crash around 1990, when the economy went into meltdown as everyone panicked about getting onto the housing market, and prices just rocketed. Private pension schemes were raided when the stock traders want to "skim off pension fund surpluses". Then the government wanted their dip as well by removing tax credits for employee and employer contributions. Companies could no longer afford to pay into these schemes and they have been shut down.
Now we have all our traditionally local banks under foreign ownership. It's worthwhile checking for the "major shareholders in XXXX bank". Invariably, you'll find they are Credit Suisse, Santander, Goldman Sachs, Lloyds, and they cross-invest into each other, but the outcome is the same - money gets sucked out away from the customers.
I was in Edinburgh for years before RBoS got into trouble, and I saw what was happening. RBoS directors wangled their way with the council to get permission to build their new corporate campus over a golf course in the Green Belt. This allowed them to move staff out of office blocks dotted across the city and get everyone on one site. The directors actually wanted to buy a second golf course to play on.
Then all the banks started concentrated on "selling services" like loans, mortgages, credit cards rather than saving money. Pension fund management schemes started imposing 40% penalty clauses if anyone tried withdrawing their money before 30 years.
I spent six years battling Clydesdale Bank to get around £12000 in PPI payments refunded. PPI was an insurance scam where they took 10% of the outstanding amount on your account as a form of payment in case you were ever off ill. But since the credit card limit was £1500, the most that would ever have paid was £150, but they took in around £12000.
There's a service called the Financial Ombudsman service, as well as a website called Consumer Action Group:
originally posted by: LucidWarrior
they've told us with this election race to bend over and take it! They want to see who will bend over like a good sheep,
originally posted by: LucidWarrior
Donald trump has more or less stated his intentions of making a White America.
originally posted by: NarcolepticBuddha
originally posted by: SpecialSauce
a reply to: LucidWarrior
What is it that makes people angry?
When their Internet, Iphone, and Xbox stop working.
originally posted by: TheLaughingGod
A white America? I suppose the implication here is that that would be intrinsically bad?
A white America doesn't sound like such a bad idea. In fact during the height of US prosperity the country was way whiter than it is now. Any type of racial harmony a multicultural society can muster a homogeneous society can pull off effortlessly.
Blacks seems to want to segregate themselves as of lately, maybe they should be allowed to.