You’re being overly rude, and just because he says something which seems out of context for you, doesn’t mean it actually is. Or that the person implying it has to be a retard. Just a few 100 years ago people were certain that the earth was flat
“What gets us into trouble is not what we don’t know, it’s what we know for sure just ain’t so”
There’s a lot of things happening with this great economy and all, and a lot of people are starting to believe in a similar point of view. There’s no need to insult people just because what they say may be far fetched for you.
Maybe this sytem should collapse, to give way for something new…
Abdealikhurrum, the problem with Subprime loans is that they reset after 2 years to a higher interest rate. Link these resetting loans to a security, and then lets say a country like Iceland buys these securities, then you got yourself a time Bomb. Wall St ARE the terrorists, they created these Subprime loans.
For example, someone on a low income gets a Subprime loan at 7% which they can afford. Then 2 years later the loan resets itself to say 10% or 11%. Which means someone on a low income can’t afford the new monthly repayments anymore. So monthly repayments jump from $1000 per month to something like $1400 a month. And people on low incomes can’t afford the jump to $1400 and lose their houses. KaBooom!
Then when Banks in Iceland buy these Subprime bombs, these mortgage linked securities blow up in Iceland’s face. Then Iceland freezes people’s savings because now these securities are worthless. And then Iceland has to get a loan from the EVIL International Monetery Fund, which will enslave Iceland’s childrens forever.
However, now Iceland has raised interest rates to 18% to attract capital back.
ManDingo you are forgetting one thing in this whole thing that anybody who gets a loan should at least check if he can pay for it for the whole runtime of the loan but since people have come so accustomed to buying everything for a loan they stop to think if they can actually afford it.
This is by no means an excuse for the bankers to give these loans in the first place.
Another thing to remember is that it is actually Icelands national bank faults to not have checked properly the risks for the loans they were buying. They were just as greedy as the rest of them trying to make a quick buck off it.
It’s basically the same thing happening with everything else everybody wants to have a share of the money without having to invest into the longterm responsibilities. No one seems to know what sustainability (hope I got that one right from Leo.org => Nachhaltigkeit) means and that it is the only way to go for the future be it the environment, financial markets, war/peace, poverty. Just my 2cts.
Here is a scary article
acording to reports out of top Chinese mainstream news outlets, the RAND Corporation recently presented a shocking proposal to the Pentagon in which it lobbied for a war to be started with a major foreign power in an attempt to stimulate the American economy and prevent a recession. A fierce debate has now ensued in China about who that foreign power may be, with China itself as well as Russia and even Japan suspected to be the targets of aggression.
The reports cite French media news sources as having uncovered the proposal, in which RAND suggested that the $700 billion dollars that has been earmarked to bailout Wall Street and failing banks instead be used to finance a new war which would in turn re-invigorate the flagging stock markets
The RAND Corporation is a notoriously powerful NGO with deep ties to the U.S. military-industrial complex as well as interlocking connections with the Ford, Rockefeller, and Carnegie foundations
Current directors of RAND include Frank Charles Carlucci III, former Defense Secretary and Deputy Director of the CIA, Ronald L. Olson, Council on Foreign Relations luminary and former Secretary of Labor, and Carl Bildt, top Bilderberg member and former Swedish Prime Minister.
Carlucci was chairman of the Carlyle Group from 1989-2005 and oversaw gargantuan profits the defense contractor made in the aftermath of 9/11 following the invasion of Afghanistan. The Carlyle Group has also received investment money from the Bin Laden family.
Reportedly, the RAND proposal brazenly urged that a new war could be launched to benefit the economy, but stressed that the target country would have to be a major influential power, and not a smaller country on the scale of Afghanistan or Iraq.
The reports have prompted a surge of public debate and tension in China about the possibility that a new global conflict is on the horizon.
China’s biggest media outlet, Sohu.com, speculated that the target of the new war would probably be China or Russia, but that it could also be Iran or another middle eastern country. Japan was also mentioned as a potential target for the reason that Japan holds the most U.S. debt.
North Korea was considered as a target but ruled out because the scale of such a war would not be large enough for RAND’s requirements.
The reported RAND proposal dovetails with recent commentsmade by Joe Biden, Colin Powell, Madeleine Albright and others, concerning the “guarantee” that Barack Obama will face a major “international crisis” soon after taking office
Musk, that Roman Maximum in law ‘For he that would be decieved, let him’. This sounds a lot like ‘buyer be beware’ the real estate speak. Musk, I like you, you’re intelligent. However, you’re introducing a dangerous precedent. In the sense that you’re underming the power of the court, with the law of the Vendetta.
Salvadore, you speak scary stuff. However, I do agree with you. It does explain why Nato has been so aggressive lately. Lets face it Nato should not exist by now, the cold war is over nearly 20 years now, yet Nato expands it’s aggression. I wonder where does the money come from.
Cor Salvatore this is so ground breaking! I think we must as a global community unite to prevent the potential misuse of power by so those in power. Should there be another war to stimulate the world economy, who wins ? Certainly not the civilian who was bombed/shot in error, or the soldier who is following orders. At this time and age, one must only read between the lines to get the story.
Is Barack Obama aware of the GPU license ? More likely he is that Sarah Palin or John McCain. I hope when the international crisis comes, since Barack Obama is virtually guaranteed to win, he will seek help from the Blender Community. Threads like this will help everyone involved the conflict to come to an understanding. I mean once China or India, or what ever new territory is annexed, we can, with help of the freeware translators communicate with the subjugated people and argue with them why they should fight within themselves.
Musk, I wanted to add that on News Hour a few months back, they took apart one of these mortgage back Securities and they found them so complex, it was almost as if Wall St didn’t want you to work it out.
The trouble with Wall St is that it’s dominated by the same ethnic group, and they share information between themselves. It’s almost like playing Poker against a group of people who tell each other what cards they have, but they don’t tell you. And of course, the game is rigged and you’re not going to win. They got an unfair advantage.
A friend of mine, just the other day got into the Market. He said he bought foreign mining stocks and a couple of Australian bank stocks. He didn’t want to buy American like Buffet said because of that ethnic group which controls Wall St.
Warren Buffet is correct in saying that it could take 5 to 10 to 20 years for the Market to recover, because the last crash in 1987 took 5 years to recover. So this one will take longer. However, if you borrow to get into the Market, then you still got to pay interest on that money. And in 12 months interest rates are going to rise, because inflation will be out of control by then.
Salvadore, I think your response is good enough for it’s own thread. Interesting, any proof?
Open source movement has political background as well. Politics does not mean being liberal, conservative or fascist. That would be a superficial view. I personally do not see any problem with people having heated discussions about more important issues. Also world economy will have a direct impact on open source free software movement either a positive one or negative one. So by using an opensource free application you are being part of this movement as well. I just want to make sure we all know that part.
Let people talk, talking is better than shooting at eachother. When people stop talking, guns starts shooting.
What I am trying to say is that, just take it easy
Here is a good one from George Carlin that summarize some of it.
We all blame Wall Street for this, which is fair… But also there are alot of greedy people who wanted to get these lones and flip houses to make profit, and there were alot of those who went beyond their means because they had too much for too long. Greedy people are not just stuck in small corners of Wall st. There are many people who spend without thinking about side effects, wanting to buy cheaper and cheaper, get richer and richer, work less make more money. This whole collapse is not just a play by greedy people also the audience was rolling all over, they were just loving it. The conditions were ripe for those greed masters to play their game. This is the end of the dream pretty much.
I personally never go beyond my means, never use any kind of credit card or credit. I am a cash only guy so truellyI had nothing to do with this whole problem but I will be affected dearly.
I am really glad that there is open source software out there because now many commercial developers will just go out of business. People who relied on those commercial apps would be screwed pretty much.
