Occupy Wall Street Movement Spreads Across the World!

Sorry I do not have the computer skills to just cut out a sentence or two. In reference to whats happening in Charlotte do not be surprised that you can not find anything about it in the media. This whole thing is being suppressed by media to try and prevent people from knowing what is going on. But word is getting out and we are gaining people everyday. If you look up occupy together they should have a link to occupy Charlotte.

 

via la revolution

 

Let me make this extremely simple for you.

After the Great Depression, regulations were put in place to protect the public, depositors, and investors from being defrauded by large banks, and to prevent banks from doing things that destabilize the monetary system. Then, Ronald Reagan started rolling back these regulations on a massive scale. Clinton didn't do anything to reverse this trend, and Bush made it much worse.

Free from meaningful oversight, greedy and intelligent minds found thousands of different ways to play games with people's money that only the large investment banks could win. And they knew that the Fed would never let them all fail if everything fell apart, because a large country can't suddenly start functioning without big banks. In other words, the entire country was a hostage. Some of the newly created financial derivative instruments were so complicated that only a few specialists with graduate degrees in economics fully understood how they worked. They didn't want others to be able to understand. People would have been horrified if they had understood.

Cheap and easy mortgages pushed home prices to unreasonable levels, making a wave of foreclosures inevitable when the bubble popped. Instead of cutting back on credit and negotiating with homeowners to limit the damage, large banks foresaw the foreclosures as a way to grab a lot of home equity quickly and easily. They showed no mercy.

The inevitable bailouts came, and most of the federal money was eventually paid back, but then the banks went one step too far. They foolishly went back to giving themselves huge bonuses and treating customers arrogantly, while unemployment soared. That was the breaking point for public opinion. I think the anger became more about the arrogance than the money.

Nobody knows what comes next.

I think you have done your share.

I don't think the public should be expected to understand all the finer details of high finance, but we should expect the regulators to. No choice, really.

Unfortunately, most corporate CEOs understand only the financial side of their businesses. They know little about the other parts of running a company. Business schools have taught them only about finance. So they have to outsource the real work.

Everybody? Including me? I haven't applied for any kind of a loan since well before the 2008 banking crisis started, and I have never missed a mortgage payment or business loan installment. What did people like me do wrong?

We bought into large-scale capitalism. The world bought into small-scale capitalism thousands of years ago, and it has never let anyone down. Basic free market concepts have little to do with the Wall Street of today.

Why do you think not? I think the majority of buyers assumed that home prices would continue to soar. It was based on nothing.

So you must believe that Skip is the President of Bank of America! :rofl:

Such rationalizations are quite convenient for those who don't want to do anything that requires effort.

 

fiat.

 

U. S. Marine speaks out in response to brutality he witnessed by NYPD on Oct. 5th, 2011

https://www.youtube.com/watch?feature=player_embedded&v=WmEHcOc0Sys

 

this is pedantic. you know what i meant

the 'people' - speaking as a generality.

i mean if you really want to go down this road

may i ask

what of all those bankers then - who may not have had any involvement either???

this is what i said.

it did not.

lol

so long as banks are privately owned - in my eyes at least

they have as much and as little to answer for

as every other privately owned company we relish.

 

please tell me that i did not just read this!

your responsible enough to drive a car,do whatever drugs you wish,drink all you want,vote,live on your own?but not responsible enough to know the economy is going bad????

if you achieve what your trying to do what the fuck are you gonna do when your staring who or whatever it is in the face?tell them cant be responsible for telling them what you want?

 

Karen, I went to Asheville this weekend too. I saw a few people marching through downtown, then I drove past a group of about 30 protesting at that little square where the monument that looks like the Washington Monument stands. These people were talking to a few policemen and by the time I parked my car and walked up, they had all dispersed. I found a few of them later at Pritchard Park, but there wasn't even enough people to really call it a protest. I was disappointed. Think I will see whats up in Charlotte this weekend.

Because protest and practicing freedom of speech is a patriotic duty.

Are you kidding me man? We're talking student loans here. People go to college so they can FIND A JOB. Why should it be an 18 year old's responsibility to predict that the economy is going to tank? Shouldn't the banks that give out student loans be able to predict this better than a kid?

 

In the general sense of the term, the people are really hard to define right now. The public has never been more fragmented and polarized than it is today. What is the 'generic' American for or against? I have no clue. I can't give them credit or blame for anything.

It doesn't take a huge amount of effort to find out the reputation of a particular financial instutution. People seem to be doing a good job with this. For example, you won't find any protesters standing out in front of a BB&T Bank this week, because they haven't done anything to seriously piss anyone off. They never needed a bailout because they never made controversial loans. And they never stopped making loans to those who met normal standards, even when the press was saying that 'nobody' could get a loan. This was true of a lot of smaller banks.

So, are you saying that you have a serious philosophical problem with the privately-owned neighborhood restaurant down on the corner? And the guys they hire to maintain the landscaping around their sign out front? And the self-employed lady who does their taxes? What about the independent truck driver/owner who delivered food to them this morning? What is he doing to ruin the world economy?

What is your plan for getting all this work done?

 

That was the stuff about interest rates in that excellent solution of the Reagan-type economy which they've been toting last August over the what was it called?: debt ceiling.


Down the road interest rates shall be available lucratively to make life predictable and secure for the Good Work and the gun collecting., or antiques then.

 

money for nothing and their chicks for free???

excuse my sarcasm.

i beg of you - reread my post.

 

If Bank of America is looking for a new theme song...

You said privately-owned banks aren't much different from other privately-owned businesses that are not banks, but you didn't really say what you thought about either one.

I do not know what the economy will be like four years from now, and neither do you. You have an opinion.

Nobody even knows exactly what the economy will be like tomorrow. If you turn on CNBC on cable right now, their experts will be debating what they think the stock market is going to do in the morning. You will hear half of them explain why the market is surely going to go up, and the other half will explain why it will certainly go down. Guess what?? They don't know!!!!

But no matter what happens, tomorrow afternoon after 4:30, they will all have great confidence in their market predictions for Wednesday morning.

That is Pack Square. You probably drove past me somewhere on the sidewalk along Patton Avenue.

Oh well, at least you got to start off with a nice little safe, low-key activity. I guess it's better than getting pepper spray your first time.

Walking around downtown Charlotte, be careful around the homeless people. They have some mean ones, especially near the city bus terminal on Trade Street, across from the downtown coliseum. I wouldn't walk there by myself.

I heard that Greensboro pulled off a very well-organized protest march this weekend.

 

Good job Skip on the vendetta character..

 

I think not because the rule was real estate doesnt go down. A home is ones best long term investment. Now we know aggressive brokers, inflated appraisals, bank interest rates going lower and lower were a scam! So, its the buyers fault for feeding into the American dream and getting a low interest loan was greedy and foolish. Then the economy nose dives, gas prices double overnight. Prices for everything rose. Mass layoffs and bankruptcy's. Around the same time city's start reappraising properties based on inflated home prices, so local property tax doubles and triples in some places, further straining homeowners.

 

Anybody who watches the world around him has seen this quagmire coming for years.

College is an investment. You are supposed to research and make the best educated guess of what is going to happen in the future before jumping in. Think what careers are going to be in demand, etc. Like any investment, college is a risk. Spending $20,000 a semester to learn about literature theory is not a good investment.

 

...according to people who make money from real estate.

Reality check: Explosive growth in any kind of investment never lasts.

How could ordinary people have been expected to know this? Because when something seems too good to be true, it probably isn't for real. Nobody (except your parents) is going to give you anything for free.

NO careers are in demand right now. According to this logic, today's high school seniors should plan to fail. All the colleges could close down for a few years.

Kids expect better than this from the older generations. And they should.

 

http://news.blogs.cnn.com/2011/10/1...bol-of-shared-economic-frustration/?hpt=hp_c2

 

Meanwhile...in Canada