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| Thread: GREED - Machines versus Human-Beings |  This thread is pages long: 1 2 3 4 5 6 · «PREV |
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markkur
Honorable
Legendary Hero
Once upon a time
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posted August 18, 2016 11:44 PM |
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The first bubble was the .com crash...the next was "sub-prime-loans" disaster and the following is how that "theft" worked.
Super Rich: The Greed Game.
link
Btw, anyone know who got all of those foreclosed-homes?
Since the ultra-rich are building loads of homes and offices for non-existent demand (plenty of videos on this) to make investment-gains etc., the whole "sub-prime fiasco" in hindsight, looks more like just one more twisted way of acquiring wealth and property, with little ventured risk...except for the poor.
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Miru
Supreme Hero
A leaf in the river of time
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posted August 19, 2016 12:29 AM |
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Edited by Miru at 00:32, 19 Aug 2016.
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They didn't end up in one place. The suburb I live in is a shining example of the housing bubble. West Sacramento is a half rundown ghetto which probably has an average income of $20,000. The closest we have here to an upper class is government workers; there are no engineering firms, law firms, hospitals etc to provide high income jobs in this part of Sacramento.
This suburb was built during the housing bubble and the houses were intended to be worth $1,000,000 each, although some were as low as $750,000. You could take one look at the people living here and instantly recognize them as the same poor from the rest of West Sacramento, but with loans they couldn't hope to pay off.
My dad brought one just after the crash for $440,000. From like 2008 to 2010 you could look out across the lake (we have a private man made lake that our house overlooks..) and see the back yards of about 40 houses. Two thirds of them were foreclosed, no furniture, no lights, no one mowing or watering the lawn.
The houses have since mostly sold, people are living in them. Looks like small business owners and government workers; I'm guessing they make around $60,000. The houses are now worth about $550,000. I expect there will be another minor housing crash in the next years.
I assume the rest of the country is similar, some foreclosed, most resold at half price.
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I wish I were employed by a stupendous paragraph, with capitalized English words and expressions.
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frostysh
Bad-mannered
Famous Hero
WHY?
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posted August 19, 2016 01:43 PM |
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Edited by frostysh at 13:46, 19 Aug 2016.
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Wow, this Greed Games with house building stuff will make the disaster in the Uncle Sam little paradise, this greed games will make a millions of peoples to dying from famine without good water supply and without the any house-like shelter, like in some regions of Africa, and so on, what a horrible peoples this 'big house bosses are'? Wow, a truly mass-killers and the enemies of the old-school American Christians, I am joking. 
Or perhaps all of this building invention stuff will do no harm to entire US society... Like usual will be a peoples with a high wealth level, and with a low wealth level, but even the worst US ghetto looks like a paradise, comparing to the many, a MANY, places on the Earth...
In the ghetto you have at least a chance for the better future, you have a food, you have a shelter, 20k dollars per year! - this is an astronomical cash...
I see no other countries with such population like Uncle Sam, and with such supporting from a government to the common folks, this is including a financial, a law-ordering, and so on, support.
P.S. mr/mrs Miru, if this the same Adrian Rogers, that the actually little bit ahh, this Rogers have a little bit curved imagination of the world , because of a, hmm, a same reasons that mr markkur have. If this the one, I prefer to avoid his works, because I want to save my brain . Anyway the citation itself have some sense, but it is a too philosophical - but IMHO the US. is the Earth first state of level of resource wasting for an idiotic nonsense creating  - and this particular problem, can actually do a serious harm to Uncle Sam, than a nonsense about the Robots and Biblical Greed... And I think there is no easy solution for it.
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Miru
Supreme Hero
A leaf in the river of time
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posted August 19, 2016 06:52 PM |
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Edited by Miru at 18:54, 19 Aug 2016.
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Yes, the poor in America are much better off than the middle class in most of the world. I don't follow or agree with Adrian Rogers, I just like that one quote. And I am a guy (mr).
I promise I'm done jacking your thread with my signature markkur 
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I wish I were employed by a stupendous paragraph, with capitalized English words and expressions.
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markkur
Honorable
Legendary Hero
Once upon a time
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posted August 19, 2016 08:07 PM |
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Thanks Miru for that report from the west-coast.
I should have added that I didn't think the "investments" from the wealthy went or go into single family dwellings but rather into big housing or office projects. I saw a Brit in Bristol describing this tactic and had also heard of the same strategy in several places in China. These guys build big buildings for no tenants. It is all a paper game geared on debt and finance for profit.
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