Government Insider tells me Economic Collapse is Imminent.

Bank have and CONTINUE to follow political agendas of credit to the credit unworthy for the sake of unloading property.

The lending industry is a government segment. Most banks end up selling off their loans and the whole ponzi scheme is backed up by government.

Every major financial catastrophe the US has been involved in has been real estate related. Including the 1980s Savings and Loan Crisis. Real Estate sucks up money like a sponge. In expansionist times that is fine, otherwise it is a crisis prone event. That is why Donald Trump has been bankrupt 4 times.

This country and the world has always been built as a house of cards.

Historical evidence has proven that.

We are all standing on the edge of a very deep and wide abyss.

Those who disagree with what this man said is not even living in the same reality.

It is most likely those belittling the OP are government employees who live off of taxpayers money and perform no productive function.

I will all so bet they are on this site belittling others while at work and on government time.

Time will tell which persons belief is right.

Two men were hired to transport a dangerous load of explosives through the mountains.

One driver climbed in to the sleeper to get some rest.

A few hours later he was awakened by the man driving yelling at him.

He was told the truck had lost its brakes!

"Why did you wake me up",he asked?

"I did not want you to miss the wreck we are going to have", the driver said.

Wake up.

There is a truck wreck coming!

I think what we have to do right away is examine how Poland, Ukraine, Russia, etc. split up military assets of the Warsaw pact and figure out how we can protect most of the United States based on a similar collapse. It is something that no one has talked about since the 1980s.

Russia, however, was on top of the collapse from the beginning and sent truck loads of passports to Ahbkazia and Georgia (Ossetia) in the early 1990s with the intent of reviving later.

I don't see that Americans have any kind of plan for a collapse. Instead they nervously buy into complete looney tune logic coming out of the White House.

reply to post by OutKast Searcher


Both are at fault..

Don't give me any BS sob story...people bought homes that were WAY to high for the type of home and to expensive for their monthly budgets...they had glossy eyes and now expect me to help pay? I don't think so.

Originally posted by apacheman
reply to post by OutKast Searcher

 

How about the personal responsibility of the bankers?

Please tell me how the banks did not meet their responsibility as signed in the contract?

Did they front the money for the home owner to buy the house....YES.

Did they either maintain or increase interest rates as defined in the contract...YES.

So where is the breach of contract by the bank? They lived up to their end of the contract...it is the home owners that have not.

They deliberately obfuscated the language of the contracts, marketing them to folks who quite literally couldn't read them. By couldn't read them, I mean they were able to read the words but not understand the significance of them because they lacked the experience and culture necessary.

Never sign anything you don't understand. There are millions and millions of home owners that were RESPONSIBLE, that didn't take an unconventional loan (even if it sounded really really good), and took the time to understand the contract they were signing.

Did I understand all the language in my mortgage??? No...so I hired a lawyer...and surprise...he pointed some things out to me that I then discussed with the bank and had changed. I didn't just sign something without knowing what it says, so I could buy a house that I know I couldn't afford...and then hire a lawyer after the fact to try to weasel my way out of the contract.

There are two very very basic lessons to be learned here.

1. If something sounds too good to be true, it usually is.
2. Never sign a contract that you do not understand. (and if you do, don't cry about it later).

The banks deliberately took advantage of these people so as to be able to sell the same house more frequently, generate tax benenfits for themselves, and create enough confusion to be able to sell the same thing several times by calling it different things to different buyers. When the frauds were exposed, they blackmailed the Treasury into giving them yet more trillions. And in all this they didn't produce a single tangible thing.

Like I said before...banks can't issue loans unless someone is willing to take it. Many people were very willing to take these loans.

Personal Responsiblity...the lack of it is what is wrong with this country...not banks offering risky loans. It is the idiots that take the risky loans so they can attempt to live a life outside their means that is ruining this country.

Where the hell is their "personal responsibility"?

You defend soicopaths.

No one forced any of these people to get loans.

If I defend sociopaths...you defend irresponsible greedy egotist.

Click here for more information.

I believe the US should pass an increase in the debt limit until voters can get rid of the looney tune leader in 2012.

In the meantime, we need to prepare the 50 states for collapse. We need to inventory our natural resources, re-evaluate how the National Guard is deployed, how people organize and get along, how real estate is governed (to prevent EVERYONE from losing their property because almost all property has liens), how to devide up confederate defense, etc.

Those who are not thinking these things can't do math. Not the opposite. This should have started the very second the Federal government bailed out the banks 3 years ago. The math is not there to cover the entire debt load which is probably closer to 100 trillion dollars not 3 trillion.

Originally posted by MegaMind
reply to post by OutKast Searcher

 

Yes home owners are partly responsible for this mess. But your unwillingness to admit the banks were greedy by KNOWINGLY handing out loans to people who couldn't afford them AND repackage them for sell as AAA proves only one thing ....
*SNIP*

edit on 14-7-2011 by MegaMind because: (no reason given)

Banks can't be greedy unless there are morons that are willing to attempt to live outside their means.

Here...I'm going to be greedy...I'm offering a 100,000 loan to anyone who wants it. I'm greedy, so I am going to charge you 100% interest every day, and you put up all of your personal belongings and property as collateral.

If someone is stupid enough to take this loan from me...is it my fault???


You can call names all you want...all it means is that you have run out of valid arguments.

reply to post by OutKast Searcher

I couldn't agree more with everything you said!

I heard a woman on NPR one day (when all of this started to go down) she made 24,000 a year and purcahsed a 400K home...now where in her freaky a$$ mind think she could make that payment?

These people need some calculators

It's obvious that the collapse is imminent. Im paying into social security every check, but they may not being paying out in august!? November is near, and I can't wait to see what Anon's phase 2 is gonna be. Hopefully change occurs...

And I'm not talkin Obama's 'pocket' change. HA!

REVOLT!!!! Take our country BACK!!!

I for one at no offense to the OP am not buying into some guy at a local gun shop who claims to be some sort of insider. All because he claims again to work on the side for some (Banker) of which we do not know and this supposed banker is someone in the know. I guess this banker has a inside scoop himself with someone at the Federal reserve? sigh.... sorry I personally am not falling for another so called insider with no real credentials.

The only thing I will say in defense of the OP's thread on this is...it does make you wonder why the banks have been holding on to their stimulus money still.

reply to post by MegaMind

The Banks scammed investors by selling them loans they knew to be bad but promised were good. The Banks had a long history of telling people who couldn't afford loans to take a hike. Why did they change that? So they could scam investors. Immoral and irresponsible.

If the investors were stupid enough to take the banks word for it without looking into it...who's fault is that. When you are being SOLD something...it is your responsibility to find out the facts...not trust the SALESMEN.

Admit the Banks are also at fault or your just a shill for the banks. Which one do you work for? Or are you just trying to derail the thread? Are you a troll? ... I think so ...

And you seem to be missing the point here...the original collapse was the fault of the system and those that abused it. BUT WE ARE NOT TALKING ABOUT THAT...we are talking about a new problem that is being created by the greedy home owners that are still not willing to take responsibility.

This new problem, with millions of homes not being paid on but not yet foreclosed on is the fault of the home owners. If you can't pay your note...take some responsiblity...don't hire a scumbag lawyer to find a technicality to delay the foreclosure and create a stockpile of inventory.

You can continue to call names...it just shows your lack of arguments...and intelligence.

I get the feeling that the vast majority of Americans have never lived in war zones, or experienced a great deal of social unrest (except for the 1960s). The idea that we can continue with huge unemployment, have 4 million families in default on their house payments, have government economic assistance be on the chopping block (understandably), is not sustainable.

Obama and Harry Reid have a lot of explaining to do but so far no one has made them explain anything.

The stupid Obama/George Soros style anarchist "Arab Spring" revolts are a waste of time. Get that in your head. IF there is going to be a change in status quo then it has to be logical. You simply can't run around burning down the local liquor store like they do in California riots.

Somehow some very smart people need to act smartly. I don't see it. The Russians were prepared for the collapse of the Soviet Union and came out even wealthier (or course as an oligarchy or rich). The Chinese, with the help of Kissinger, have become the world's rich.

What are we going to do? Continue until we have nothing but a burnt our liquor store? No thanks. We need some smarts here.

Of course it's gonna collapse. It's not about the "people" anymore...it's all about banks, business and government. The "people" are in the back seat, going for a ride. If the recent gov't shutdown doesn't ring bells, then nothing will. The problem isn't banks, business, and government; the problem is the "people". The moment wal-mart, home depot, office depot, etc, etc...came to town, EVERYTHING changed. People should also take a look at the fact that, this generation, has been raised on supermarkets and 'fast foods' and knows little about farming...and manual labor. This generation wants everything 1-2-3 and that's simply NOT the case.

When the banks fail, again, and people can no longer 'charge it'....things will begin to sink in. Remember this....the only thing man needs to survive is FOOD! Everything else is extra. Better stock up on shovels, picks, seed and maybe a garden hose, or two.

I know there are many cases where people bought more than they could pay for and I have no sympathy for them. However, there are a vast majority of people who bought within their means never imagining that both people would lose their jobs. This all started when gas went to $4 a gallon. People couldn't afford to go to work and pay the mortgage and put food on the table. So they gave up the mortgage. When that happened, the banks quit loaning and businesses got scared and scaled back to try and save their companies from folding. Now 100's of thousands of people are out of work. Add Obamacare to the mix and even though companies need to hire more people, they won't. The cost of insurance is too prohibitive for them to do so. I know because I work for an insurance broker who specializes in corporate health benefits. Many of our clients are not hiring due to Obamacare. So for you leftists who touted this all important legislation have only yourselves to blame for unemployment not getting better. thanks alot!

Now Nobama wants to tax the very same people who create jobs so they will cut back even further to boost their bottom line. That's a double whammy for the unemployed. With nearly 51% of Americans not working (laid off, retired, disabled, etc) the rest of us 49% are paying the tab. One more push and it's game over.

reply to post by camaro68ss


Lol you don't have the first clue what you are talking about. What is the bank claming? They are claming loans? I don't even understand half of your secret message. Are you running for the hills with your canned food then or what?

What are you doing differently because a no BS guy in the gun shop leaned over the counter and whispered in your ear that the bank was claming 4 millions loans soon? Do you really even understand what QE is?

reply to post by OutKast Searcher


First I said that home owners are responsible also. They agreed to it.

If they knew what they were agreeing to.

If I walk up to a kid with downs syndrome and tell him I'll give him a nickle for his dime cause its bigger I'm just a smart business man aren't I?

You talk of personal responsibility ... Giving away loans that can't be repaid and selling them to unsuspecting investors is responsible? Moral? I'd say there is even probably some illegality going on there but the administration is practically made of these bankers so there won't be any investigations I'm sure.

Buyer beware but seller get away with what ever you can - the American way no?

Anyway I'm done with conversing with you. Obviously your mind is made up.

The Banks are angels at the mercy of evil greedy home owners.
(makes them stupid at the very least if your right)



quip away ...

reply to post by camaro68ss


I sell ammo and i have known this for a while that you cant live free of rent. That makes me a loon. I believe that soon enough the loons will be the most sane around.Just another day in bizzarro world.

reply to post by gaurdian2012


if your economy does collapse you will not like the results .
you will end up with a totalitarian society were the government owns and controlls every thing
your houses will be owned by the government , your factories , transport systems etc
you will pay rent to live in what was once your own home .
i know the usa fears communism but thats just what you will get .
george orwell,s 1984 is just around the corner .