Top 1 Percent Of Americans Owns 40 Percent Of The Nation’s Wealth This Needs To Change (CNN, wisdom)
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Unless the 'rich' put their cash in mason jards and bury them in the backyard, their investments keeps businesses and the economy growing.
The age old strategy of the class division myth perpetrated by those who want to take power are stuck in the dark age when wealthy did hoard their jewels in treasure chests and towers.
Unless the 'rich' put their cash in mason jards and bury them in the backyard, their investments keeps businesses and the economy growing.
The age old strategy of the class division myth perpetrated by those who want to take power are stuck in the dark age when wealthy did hoard their jewels in treasure chests and towers.
Ummm, no.
That's not how things work.
I can give you an explanation in a bit why its better for the overall Economy if there are more spenders (Middle Income and Lower Income brackets with disposable income).
Your industry caused several Trillions of dollars of loss to the entire country.
Call it a wash.
When did that happen? I know my industry caused millions of people to have enough money to retire comfortably, but I am sure you are more than OK with ignoring that fact.
When did that happen? I know my industry caused millions of people to have enough money to retire comfortably, but I am sure you are more than OK with ignoring that fact.
Please.
My roommate lost nearly half of his savings after the Financial meltdown.
I also fail to see how it helps to unlawfully kick millions of homeowners out of their home.
The Finance industry is currently one of the most corrupt. I lump you guys in with the Police and politicians.
My roommate lost nearly half of his savings after the Financial meltdown.
I also fail to see how it helps to unlawfully kick millions of homeowners out of their home.
The Finance industry is currently one of the most corrupt. I lump you guys in with the Police and politicians.
Why were homeowners buying homes that they couldn't afford in the first place? It isn't a credit card company's fault if you put more on it than you can afford. Home purchases were the exact same way. No one was unlawfully kicked out of their home. If you can't pay your mortgage, it is 100% lawful to kick you out. You don't own your home until the mortgage is paid off. Until then, it belongs to the bank.
Also, I am sure you won't hear your roommate complaining about the excessive returns gained during the 70's-90's. Complaining about the downside risk while being OK with the upside is more than a little hypocritical. Also, if your roommate doubled down in equity after the crash (like any sane person did), he would have been more than OK.
Given how hypocritical and ignorant of finance and economics you are, it doesn't surprise me that you feel the way you do.
Why were homeowners buying homes that they couldn't afford in the first place? It isn't a credit card company's fault if you put more on it than you can afford. Home purchases were the exact same way. No one was unlawfully kicked out of their home. If you can't pay your mortgage, it is 100% lawful to kick you out. You don't own your home until the mortgage is paid off. Until then, it belongs to the bank.
Also, I am sure you won't hear your roommate complaining about the excessive returns gained during the 70's-90's. Complaining about the downside risk while being OK with the upside is more than a little hypocritical. Also, if your roommate doubled down in equity after the crash (like any sane person did), he would have been more than OK.
Given how hypocritical and ignorant of finance and economics you are, it doesn't surprise me that you feel the way you do.
This is a very topical and biased argument, basically amounting to a poor spin.
Why were homeowners buying homes that they couldn't afford in the first place? It isn't a credit card company's fault if you put more on it than you can afford. Home purchases were the exact same way. No one was unlawfully kicked out of their home. If you can't pay your mortgage, it is 100% lawful to kick you out. You don't own your home until the mortgage is paid off. Until then, it belongs to the bank.
Gtown
As many times as I've brought this up, your still using the same tired argument.
The Huffington Post reported. Nearly a third of foreclosed borrowers, or 1.2 million, in 2009 and 2010 were fighting off foreclosure even though they never defaulted on their loans or were otherwise in good standing under bank-approved plans.
Also, I am sure you won't hear your roommate complaining about the excessive returns gained during the 70's-90's. Complaining about the downside risk while being OK with the upside is more than a little hypocritical. Also, if your roommate doubled down in equity after the crash (like any sane person did), he would have been more than OK.
Given how hypocritical and ignorant of finance and economics you are, it doesn't surprise me that you feel the way you do.
My roommate is in his early 30's. I'm pretty sure he could care less about the 80's and 90's. He's not "dumb" because he lost out during the crash. Millions of Americans lost out. In fact, he's one of the smartest people I know and I'd put his resume up against yours any day of the week.
And for me, I'm so hypocritical and ignorant that Wall St. hired me
Why were homeowners buying homes that they couldn't afford in the first place? It isn't a credit card company's fault if you put more on it than you can afford. Home purchases were the exact same way. No one was unlawfully kicked out of their home. If you can't pay your mortgage, it is 100% lawful to kick you out. You don't own your home until the mortgage is paid off. Until then, it belongs to the bank.
Also, I am sure you won't hear your roommate complaining about the excessive returns gained during the 70's-90's. Complaining about the downside risk while being OK with the upside is more than a little hypocritical. Also, if your roommate doubled down in equity after the crash (like any sane person did), he would have been more than OK.
Given how hypocritical and ignorant of finance and economics you are, it doesn't surprise me that you feel the way you do.
Agreed. Just because a bank tells says, you have been approved for a loan up to 400k, does not always mean you can afford a 400k home.
I know there were some people who lost their jobs and lost their homes.....I am not talking about that.
If you purchased a home with no money down for an amount you knew was going to be a struggle to pay.....and have an ARM loan.......that's what I am talking about.
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