But everything has changed...
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...We cant have everything, and hide from the real cost of it. In addition, the basics - housing costs, have proportionality sky-rocketed.
No I agree, we cant have everything, but what is the real cost? ...we're talking about the real cost as if we actually know what it is, we think most stuff its defined by cost of labour and materials, but in reality almost everything we buy is inherently defined, selling price wise, by the demands of the market place. And that modern market place is about repeated turnover of goods, the regular turnover of money, all in conjunction to feeding the monster with the credit and debt flows of the purchasing public ...anything other, than the lifetime or quality of the goods right!?
We should ask ourselves why we have built this throw away market structure, how did we get to this rapid turnover point? Where have the influences come from, and how did those influences change the choice we all face everyday?
Are we in-fact feeding an antiquated monster financial system more than actually getting true value for money?
I see what you are saying , but it still doesn't excuse the people stupid/greedy enough to lie about their income in order to secure a mortgage that they can't pay as soon as the interests rates rise....
It shouldn't have mattered. The banks should have had the collateral backing to lend in the first place. This is the point of a bank.
They weren't covered because they had accumulated too much weight of debt on products sold for profit that didn't actually exist until the loans came in, which of course is daft for loans that are inherently outstanding ...instead the decades long, multi originating, growing waves of debt couldn't be hidden any more, rolled and crashed.
The people don't need to apologise, the're already without homes in a market place designed by a system that's just rejected them, the loans should have been covered by real collateral as a true loan should always be, if they had have been, we wouldn't have had a problem...and we all wouldn't still be discussing it several years later.
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I'm not saying the banks are blameless, but nor are they the bogeyman that everyone else can blame in order to absolve themselves of any guilt
I think we can, many have now at least acknowledge they allowed the monster to grow to unsustainable heights, but rather than just wanting scape goats for the sake of some justice we should focus on some long term solutions....At the moment we are still but sheep to the choices available, and all those choices are dictated by the market place, and that market place is just a mirror of the choices we assume we have. ..ok, thats a bit dark, but hey, that's brain washing for you.