Now, the mind is racing! Could the whole Sub Prime Lending by the International Banking Fraternity be a massive Social Welfare Fraud perpetrated on socialist minded governments? Just think about it! Which modern government is going to throw families out on to the street? A family in Ireland that is threatened with eviction could get a mortgage subvention from the state of anything up to â‚¬2,000 a month and over.
I guess the Sub Prime Lenders are not as dumb as they appear to be; if my above reasoning is anyway accurate. In fact they could be judged to be filling an important role in society if the assumptions in the model above are correct.
You have exposed the capitalist mantra of “banking” and “money” for all its evilness with Rothschild and Morgan and the gang at Davos who are at this moment meeting on their spaceship to congratulate themselves on manipulating the proletariat into believing that “wealth” is “created” through “debt”, even while the levers of power are stripped from their calloused hands and placed once again firmly in the soft hands of investment bankers and their capitalist overseers, safe in their castle atop a lofty perch of the souls of dead machinists, bakers and the earths resources which are currently being plundered, yes plundered to provide resources for the next generation of wage and debt slaves who will again be brainwashed through the socially institutionalised structures of slavery that are “religion” and “education” while the strains of free men in soul and mind but not in physical form strain against their binds to raise the masses from their knees to join with them under the red banner of a workers uprising to strike down their capitalist overlords.
Its true credit card lenders do target poor people because they know theres more profit from people who are more easily tricked. People who cant understand the small print. People who cant manage money. That is a fact.
Blah! Blah! The world will be saved. Sub Prime Crisis will be over when the rest of the Bankers realise that governments will make up the shortfall in repayments from Social Welfare Handouts and not the Central Banks. Sub Prime Lending does not come under the jurisdiction of the Central Banks, whose remit is only to protect those Financial Institutions that report to them. Blah! Blah!
Of Course this is all poppycock if the average profile of Sub Prime Customers are without kids! Maybe I am old fashioned; maybe all Sub Prime Customers in trouble will be rescued.
Sub Prime Lenders could be the new Landlords in receipt of social welfare cheques. Social Housing by the backdoor! Blah, Blah!
Ive often asked myself the same question,"whats the worst that can happen"and that maybe those heavily in debt have the right if an immoral attitude.
We have more housing than we’ll ever need particularly as immigration will stop or reverse in an economic downturn,we have governments that are easly swayed by lobby groups,those with debt problems could form a very large lobby group .
I dont buy the conspiricy theory that the banks will get the government to pay the outstanding debts to them as a form of rent,I actually think the opposite will happen .
The government will tax those who have made the most money during the boom years,lenders will be high on the list and the imbalance in the transfer of wealth which we have seen for the last ten years will be readressed.