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Winter of Discontent...
MegaMiniMouse
Posts: 595 Forumite
The Meeja are getting v excited about the prospect of massive civic unrest and I really hope they are right
But I fear that the unrest may be misdirected
Why is nobody blaming the bankers for our present woes? (Gordon Brown was infinitely less reckless/incompetent than the banks)
The Unite union occasionally mentions the banks, but Vince Cable has gone silent
The problem for the unions is that these days, most of their members are mortgage-payers rather than council tenants
If we are to take action to prevent the coming meltdown of 'life as we know it', then strike action against employers will probably exacerbate the situation
We should find a way to force the banks to 'make good' on the disaster which they have brought upon us all
I think the banks should be required to produce sufficient funds to restore the quality of life which their recent history has come close to destroying
If action is needed to bring that about, then the answer is for all of us to withhold our mortgage payments until we force them into submission
This is intended to begin a 'serious' debate - the enemy of the working class is no longer the employer or the government, but the banking 'system'
MMM
But I fear that the unrest may be misdirected
Why is nobody blaming the bankers for our present woes? (Gordon Brown was infinitely less reckless/incompetent than the banks)
The Unite union occasionally mentions the banks, but Vince Cable has gone silent
The problem for the unions is that these days, most of their members are mortgage-payers rather than council tenants
If we are to take action to prevent the coming meltdown of 'life as we know it', then strike action against employers will probably exacerbate the situation
We should find a way to force the banks to 'make good' on the disaster which they have brought upon us all
I think the banks should be required to produce sufficient funds to restore the quality of life which their recent history has come close to destroying
If action is needed to bring that about, then the answer is for all of us to withhold our mortgage payments until we force them into submission
This is intended to begin a 'serious' debate - the enemy of the working class is no longer the employer or the government, but the banking 'system'
MMM
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Comments
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I understand your sentiment but who let the Banks run riot?...I would also mention the morons who borrowed up to the max on every form of credit available, it was like an orgy or borrowing.....I didn't see one person being dragged kicking and screaming to a Bank and forced to borrow.
I have two children, one is 11 and the other is 5.We save all of the Child benefit each week into savings plans for each of them,currently the interest rates on their accounts are 0.5%.I blame the last Government along with the banks.
The Banks deserve a good kicking IMO but in reality it will never happen, the truth is its the Banks that run this country and no elected Government...
I do however wish we were a bit more radical like the Frenchies, mass protests etc but in truth we are a dis-jointed society and you can blame Nu-Labour for that with their Social engineering projects.0 -
leveller2911 wrote: »I understand your sentiment but who let the Banks run riot?...I would also mention the morons who borrowed up to the max on every form of credit available, it was like an orgy or borrowing.....I didn't see one person being dragged kicking and screaming to a Bank and forced to borrow.
I have two children, one is 11 and the other is 5.We save all of the Child benefit each week into savings plans for each of them,currently the interest rates on their accounts are 0.5%.I blame the last Government along with the banks.
The Banks deserve a good kicking IMO but in reality it will never happen, the truth is its the Banks that run this country and no elected Government...
I think we are in agreement!
The banks run the country....YEAH! - That's precisely my point!
Orgy of borrowing? ORGY OF LENDING!!! - it takes two to tango...
MMM0 -
MegaMiniMouse wrote: »Orgy of borrowing? ORGY OF LENDING!!! - it takes two to tango...
Yes and the banks and being made to repay all of the money used to bail them out, whereas the irresponsible borrowers just go bankrupt and walk away. Why aren't they being made to pay for what they have done?0 -
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MegaMiniMouse wrote: »Who do you mean by they?
Irresponsible borrowers who went bankrupt to avoid paying their debts.0 -
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leveller2911 wrote: »
I have two children, one is 11 and the other is 5.We save all of the Child benefit each week into savings plans for each of them,currently the interest rates on their accounts are 0.5%.I blame the last Government along with the banks.
Why are you not using stock market funds for long term savings like that?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
MegaMiniMouse wrote: »Who do you mean by they?
Irresponsible borrowers
I was reading a thread recently over on the Bankrupt forum.Found out that a BTL investor who has 6 properties all in negative equity ,then goes Bankrupt can keep his/her "Portfolio" of houses.
Now in say 5 yrs time the value of his "Portfolio" could be back in the black and worth a fair few £1,000,s more than now..So where is the punishment for him/her.......
My kids savings are trashed because of moronic borrowing/lending and like Fatballz says they just walk away......
Would just say this isn't a snipe against BTL investors its the borrowing of idiot chavs I'm against0 -
Why are you not using stock market funds for long term savings like that?
TBH Stevie I don't understand a lot of it.
When my daughter was born 5yrs ago we got the £250 from the child trust fund, invested it with the Co-op, today that £250 is worth £187........5 yrs on...
We have a savings plan with the co-op for our son(£20 per month,endowment) ,runs for 18yrs but they no longer run them for less that £100 per month.0 -
leveller2911 wrote: »Irresponsible borrowers
My kids savings are trashed because of moronic borrowing/lending and like Fatballz says they just walk away...
Who walks away?
The bankrupt borrowers become bankrupt, the banks get billions!
Like I said, the system is wrong, and the powerless are paying the price0
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