Wednesday, April 18, 2007

Trouble in the States

Sub-prime crisis sours US dream

Horribly emotional piece from some Commie at the BBC. It drifts into being about black oppression too which is absurd but the overall sentiment is one of a deepening crisis in the US.

Posted by tyrellcorporation @ 10:17 AM (702 views)
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4 thoughts on “Trouble in the States

  • I would not say that this is particularly emotive as journalism goes – its just the subject matter. Any decent human being would feel outraged at the swindle that has been perpetrated on the US poor (who are disproportionately black). So don’t be ashamed of your emotions, Tyrell! Its just a sign you are still human.

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  • Not that emotional – really – just gives you the realistic impression that some people in society (even in good olde U S of A) are not just money mad – and may actually want to buy a home and not an investment!!!

    As for the Black angle – well sub-prime really was designed to rip-off the least well-off in society. Corporate oppression and modern serfdom in my opinion – where capitalism meets communism – no I’m just Humanist. For a Christian nation – the US is not very Christian.

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  • Freewheein' Franklin says:

    Tyrell Corporation

    1 The article is already 2 weeks old – that’s fish wrappers in news terms.

    2 This tosh about the BBC being left wing is just silly – there are plenty of ex BBC people gone on to become Tory MPs and others with close links to the party

    3 I’m sure you don’t mean to be racist but your comment could be misconstrued. nearly30 is quite right; the sub prime scam has targetted the most vulnerable, people who look at rising house prices and fear they may never get on the ladder – the elderly, the poor and ethnic minorities. Personally I sympathise with those worried they may not get on the housing ladder – don’t you, or does their skin colour diminish your sympathy for them?

    4 As for horribly emotional…. news stories almost all come down to human stories – they’re about people, not just figures, and just as the asset bubble has produced winners it’s also produced losers and some of those losers are decent people who’ve bought into the not uncommon notion that owning one’s own home is a good thing and have not done it to get rich.

    So perhaps you’d think a little more carefully before posting comments that are frankly bordering on the offensive

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  • A very sad story, however its yet another of the housing market being inflated by people purchasing houses where they really cant afford to do so, the lets get on the train before it leaves the station at all costs mentality – sad and it will cost big time.

    I have friends here bleeting about IRs going up to 5.5%, i did point out at length that the UK average IRs over the last 50 years has been nearer 8% and when they took out their £280000 loan IRs could only go “ONE WAY”.

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