HELLO! The Next Financial Crisis. The Bailout Bubble Will Pop.

but they promised they "wouldn't monetize the debt"

 

The entire basis of OUR and the WORLD's "money" is DEBT, nothing more. We cannot return to the 'gold standard' - there is not nearly enough of ALL precious metals in the world to cover the debt.
Even if we could, that only means that those who hold the gold have the power and make the rules - and that means the very same Banksters who are printing the fiat dollars NOW.

 

If we act now and I mean RIGHT NOW we could get the dept down. But with that said all Americans would have to sacrifice for a rather short piece of time. Maybe one to two years. But to get everyone to agree what should be done would be impossible.

 

Why should I have to sacrifice anything, it isn’t my debt. No one asked me if it was alright to borrow more than they knew could ever be repaid. No one asked me if it was alright to help folks that made bad investments, and buy all that bad debt from them. Heck, it is an investment, some are good some bad. It is BETTING, you are BETTING that you will make money. The good ones you make money on the bad ones you lose money, that’s the way it goes. You make too many bad investments you lose all your fiat money and go out of business. Someone will come along and buy what is left for cheap and life goes on.

Back in 2005 the real estate agents and banks were trying to get me to borrow much more than I know I could afford to buy a house as an ‘investment’ rather than a place to live. They made me feel like an idiot for not walking away with $10,000 in my pocket and a huge home. If I had bought into it and then could not afford it, my bad. I lose. Someone buying my mortgage betting that they’ll make money would lose also, their bad. Why should I be responsible for their gambling loss? No one ever came up to me and said ‘Sheesh, you got beat on THAT investment, here I’ll take it off your hands and pay you the full amount you gambled’.

Regardless of how responsible I was, we are all on the hook now and we will all be paying for others mistakes in BETTING they will make money. We will also be paying for TPTB spending much more than they knew they could afford. I make $X for a salary, I cannot spend $X + $1 because I do not have the money! I cannot go to my employer and say hey boss, I need another $500 this week which I plan on never repaying. I cannot go to the store and spend money I do not have. I have to live with what I bring home, that is the bottom line. Even with the home I did buy, I am BETTING that I will make enough fiat money to make payments on it until I have paid back the fiat principle and the enormous interest amount on it. If I can’t do it, I lose. If I can the banksters win and I am still being extorted forever by TPTB.

BTW, all that ‘bad debt’ fiat money did not simply disappear, SOMEONE has it. SOMEONE made a killing on this whole fiasco.

 

another reason to ONLY buy 'owner financed'... anything... sure they will more than likely TRY to rook you, but they don't have the faceless anonymity of the corporate machine to protect them as well, so it's riskier

 

Gotta agree with you Woody. But like you said we're all stuck with it now too. As long as we worry about keeping tax cuts around and continue with deficit spending we'll never get out of this... and once the number gets large enough it doesn't matter what we do we'll be stuck forever. You simply won't be able to pay back the interest let alone what we owe. We either give a chunk of the country to our creditors, go bankrupt or go to war with them to get out of paying. I don't like any of those options.

 

I don’t like the look of any of the options either! I’m sure there is also a group in DC thinking up others just as bad or worse.

 

It's a long road for the average citizen to understand that people borrowing money for homes is not the cause of the crash.

The fault lies with the bankers that fraudulently repackaged risky loans as AAA to resell to investment banks. Using fractional reserve banking inflated the problem. The government (lobbied by the bankers) helped blow the housing bubble up. The Fed (bankers) blew the bubble up.

The number of actual high risk loans couldn't do it. That's why Dave Ramsey was ranting that the economy wouldn't crash. Dave didn't understand Derivatives and
Collateralized Debt Obligations, because the economy crashed just like Robert Kyosaki said. Warren Buffet SAID he didn't understand derivatives which is why he didn't fall into them. Whether you believe that or not. Home loans didn't cause it. They were only the tool being repackaged and resold.

So far, nobody has been charged with a crime. And most Americans don't even understand that someone is at fault thru nefarious means. When they loaned money to illegals with no proof of income...?