No one even admits how the problem started. It's all about the redistribution of wealth. Give an opportunity to the illegals to occupy nice houses, and they'll flood Amerika by the tens of millions. Then, have the stupid hard workers pay high taxes to bail them out. Word gets back to Mexico about how stupid Amerikans are, and more Mexicans come for their freebies. Then, the Communists promise the Mexicans even more, which creates a huge base that is willing to fight for Communism. PERFECT PLAN!
[] The Unbelievers spend their wealth to hinder (men) from the path of Allah, and so will they continue to spend; but in the end they will have (only) regrets and sighs; at length they will be overcome
in a way in my opinion...the economy is to advanced..thats what brings the downfall...especially credit cards..i think credit and loans is the fall of the economy combined with the american idelogy...wich is to lavash themselves with lifes luxuries and people boring money they cant pay back you get..americas economy...thank you ppl....i know well have to deal with taxes more then any of my ancestors
She is right!!! I was about to click on her advertising banner in the top right of my screen! Instead I will send some hate mail to these companies for trying to get me to bankrupt myself with their crap!!!
Stop buying if you can't afford?!!! That is why the governments created the concept of credit card, buy now, pay later....because governments know that people can't afford anyway. How do I buy a house that is worth $500,000? Exactly....get a bank to lend you some money, then pay off with interest, otherwise, wait for a thousand years to build your equity and to overcome inflation as time goes on. In the old days, a dime was a lot of money. :) This girl has beauty but no economic brains.
You place blame on the wrong people. Slaves earning $11 per hour are not at fault. Our "leadership" is. They dreamt up this hell on Earth for us and everything is going as they planned.
Those with Granite counter tops will lose their homes. Glad I bought a shit box and rent the upstairs. I sleep well at night knowing the rent will pay the mort. The rental market is only getting better for me.
Freedom is no debt, a cash flow and plenty of food with a huge garden, canning and a dehydrator for your food. Always pack in mylar. Good luck.
When the economy depends on people to buy stuff so the economy can grow, then there's something wrong. I am certain that the stock market, the existence of shares that ppl buy to get money without working for it is at the root of the problem because CEOs, instead of working for the long term, want to publish good quarterly reports to maintain or raise the shares'value. Forget about ppl buying stuff they need. It's irrelevant! It's not "we the people", it's "we the consumers" darnit!
The best way to get a sound economy iss if every one woul cut their credit cards and throw them out... SSave up money for what you want. If you can't save you can't buy. tough luck...
Grow some veggies- you can create wealth independent of the monetary system.
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." Thomas Jefferson - 1802
Superficial analysis. She's, again, accusing people of behaving irresponsibly. What she fails to see is that the policies and "ingenuity" of this capitalist market drove the crisis, for the Fed was encouraging people to borrow money from banks at incredibly low rates to buy houses, and by doing so they created the boom (boost in the activity) that turned into a bubble (house prices rising).
Then, on top of that you have to add to the equation that the banks were encouraging sales people to offer mortgages without much credit scoring, so they could quickly pack all this debt under fancy names like Structure Investment Vehicles and sell it to these hedge funds she mentions, and then, and only then, you can accuse people of being irresponsable for buying stuff they can't afford.
ok you got it. Too much credit is the reason for this "financial mess". but whats going to happen. i know whats going to happen. If u check my financial favorites, think and research u will know it to and be able to prepare and profit from it.
You and i see the big picture, Thank god im not alone,lol. i am sending a friend invite to you. i hope you accept it. im 40 yrs old and a full time day trader/married 2 kids. Thank you for the great common sense approach to the economy and personal economic advise. i hope people take your advise. its great advise for everyone.....Your doing a good dead and i would like to see more vids...Thanks again
The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
Thanks for this video. you are right about people buying things they don"t need. If you can"t pay for the damm thing don"t buy it. Good girl keep up the good work.
Wow! Two great videos in a row from the Res. Most liberals and conservatives, entirely dishonestly, blame the "unregulated market" for the crisis. But the main culprit was the Fed, then come Freddie Mac, Fannie Mae, the implicit "to big to fail" policy and the Community Reinvestment Act.
a good video. you forgot one thing. the powers that enabled fannie mae and freddie mac to set the stage for this disaster were Democrats in congress. the law signed by Bill Clinton. G.W. bush attempted to reform and reverse this law in 2006 but was shot down by the new democrat congress. but that was left out of the election.
actually no. fannie and freddie were created long before GW Bush was the president. and his attempt to reform and correct this flawed and corrupt bank loan for the inept was crushed by Democrats who use it for cheap votes.
Lies. The republicans are just as lefty and corrupt as the democrats. The only noteworthy thing about bush is that he was a bit more evil and stupid than the average politician.
just admit it. you hate bush. you have no basis other than you don't like him. the facts however show that Democrats have set this country up for a depression with their left wing ideals. this is when you come in and say "nuh uh!"
Of course I hate bush. He's a socialist. Only deluded people like you believe that the repugs are different from the dems. False. Both parties favor big government and socialism.
Bilderberg, Bil------der-------berg. They are whole bottom key to all this. I am sure even Bush's family from way back had connection with some of these Bilderberg members. There is a documentary of Bilderberg right here on youtub.
stop invading other countries, when you can't afford.
stupid video game generation, it was not just the housing market , when you act like Lewis and Clark and open up new frontiers, that is what you get for the trill of that adventure.
Follow the money and crash into the bankers and military complexes, with thousands of people in big crowds, all with flash grenades, and then flash them out...
Capitalism is done. Yeah the rich have ALL of the opportunity in the world in a capitalist system, but the poor tend to be stuck being poor and depressions and recessions are problematic and deplete the middle class.
This is true. Also, please don't think you are blameless miss.
You paid for an overpriced educucation requiring a loan from the Government. You are thus supporting an over-inflated education system that has adverse affects on other sectors such as healthcare.
You purchased an education you can't afford and thus required a loan because you couldn't afford it. Welcome to the broken economy that is America, where NOTHING is affordable.
well said but I remember a time when only a few people could afford cars now everybody except for you and a few other people (I can count them on one hand )have a car so economicly things had to change to accomodate everyone except for you and a few other people now the whole thing has turned to items like seadoos ATVs and thats right the motor home thats a total of about 50k I have to come up with ...yes me at the gas pump the grocery store etc so they can have them ugh !!!,I agree with you .
Bullshit. You are liar when you say you don't own much. You make this show so you must be making some money and enough to afford a car. Ha Ha Ha ha Ha.
If people put 1/3 of the time they spend into chasing the materialistic garbage of this world. Into other facets of what really matters in life we would not be in the place we are right now with not just the economy of this country, but the entire world as a whole.This is also true in all other things :). Oh btw Resident you are beautiful not because of your apperance that comes, and goes, but because you have the ability to make people think.The tricky part is to get them to act.
Finally something that I can agree with you about. The CRA and Federal Reserve should also have been mentioned. And it certainly should have been mentioned that it was liberal Democrats who were responcible for forcing banks to make these politically correct loans that caused the financial fiasco.
I suppose you are still going to vote for Obama, who seems to be promising give-aways to everyone. To me it sounds like he wants to spend more money than the government has.
The way Earthquake affected people afraid of their cracked walls & roofs to be falling on them are sitting under the open sky, in the chilled cold similarly the US investors afraid of declining economy are not investing any more in the collapsed US financial system afraid of their investments to distort in the worst way, thus making the US economy balloon burst altogether. 3:54 And (the unbelievers) plotted and planned, and Allah too planned, and the best of planners is Allah.
And whom is responsible for this? B/c your little clip didn't seem to tell the EXACT truth of it all! Hmmm, let me think for a second... DEMOCRATES as well pushing Obama #2 on the list for handouts from Fannie Mae and Freddie Mac. The same people you want to vote for is ruining this country, Please look up your facts correctly, and TRY not to use a LIBERAL site/paper to find your "opinions" I mean... facts. *cough*
Yes, but the situation is actually more involved. Our economy was deliberately brought to this point in order for the "solution" of a grossly un-Constitutional "Bail-out bill" to become politically feasable. The President, (via Treasury) now has unilateral & entirely unaccountable power over the use of public money thanks to this bill which was passed via bribery, fear mongering and intimidation involving threats of Martial Law directed at members of Congress,if they refused to pass the bill.
Dictatorial power has thus been illegally acquired by the President over the economy of the United States, through methods which have been widely & rightly described as a coup.
It should not be a surprise that both of the main Presidential cadidates haved affirmed their corruption by voting for this bill, since they will inherit this arbitrary power, free from Congressional oversight.
It is "_Change_", definitely, but of altogether the wrong type, since as usual, the people are victimised.
The period of 6-18 months for the people to learn the harmful basics seems a joke. As majority of US citizens is educated & aware of the economical crisis. Cheap waged laborers are due to growing global population in search of food. But creating joblessness in USA in search of cheap foreign labor is not the answer. It will burst the economy balloon being patched. The interest rates may be revised to the applicable level. But creating disharmony or joblessness doesnt solve the economical decline
yore words are true my friend and if you think there is a lil more to India than being known as a 3rd World Nation....then seriux...you should migrate to my tiny State called GOA...
We grow our own food here and make our own drinks and there are wells for water and life is worth livin!
Thank you, resident, for showing that clip. I thought I was going insane because i was the only one who knew this. Maybe now the people can understand that the Democratic Congress does not work and we need more then a few repiblicans in office....not that that is what your saying but thats what i believe.
She completely misses the root cause, which was the Federal Reserve providing bottomless credit to the banks to lend out to these borrowers. The Fed had accomplices, but the Fed is still the perp.
She is another example of someone who has been given a platform to speak due to her pretty little face. Funny thing is she actually thinks that it is because she has such insightful comments. She would fit in down in Hollywood nicely. She is just a pretty face and they are just movie stars, too bad they dont realize that is all that they are.
This is about the same situation Pakistan is passing thru. Countrys economy is being loaned/sold @ the rate of a common mans life leading to anxiety & flux in all departments of life ensuing in no-investment crisis & every new govt blaming the past for all the hazards & again taking its hands out to beg for more loans. The country is being sold out eventually by parts, with disorder, joblessness, fake inflation, injustice & hypocrisy as the main issues resulting in anarchy & suicide bombing,
Yeah okay...I am struggling w it now but again I got a Lousy loan even though I qualified for a better one..I am okay and hope to keep my huose..So I still say: "80% banks fault 20% consumers fault" Again since when did banks lend money to anyone??? Never before..Its a mess all around...
Warren Buffett: "Be greedy when others are fearful."
Right now is a great time to buy stocks. There are lots of value companies at bargain prices. Not sure stock prices have bottomed out just yet but pretty close.
Iam getting sick and tired of all the coincidents(but i dont belive in big conspiracies).when Bin laden attacked New York,Bush had no trouble in getting his hands on the midle east.FURTHERE MORE,istnt it a coincidents that the loan scam begane during the war,artificialy supporting the US economy.Now when Bush will step down ,we see all the trouble coused by his party .I dont belive in coincidence .They are better educated then me and i know that they knew whats going to happen
It took only twelve years for deregulation to destroy our economy. The Republicans wanted deregulation and taxes cut for the rich. They got it. By their own measure the economy should be doing swimmingly now.
In case no one noticed, isn't it coincidental that the economy began taking a downturn AFTER the democrats took the house AND senate? Of course, the real seeds of the whole financial mess took root under Jimmy Carter's Presidency, and none of the Presidents since then took any real notice. And isn't it interesting how the former CEO for Fannie Mae made $90 million in 6 years? Isn't he also a "consultant" or an economic adviser for Obama? I believe I read that somewhere.
The economy began to take a downturn after the culmination of the 8 solid years of dysfunctional, utterly irresponsible "government" inflicted upon the United States by the Republicans. The Republican leaders are at fault, yes, but it is MORE the fault of the complete & utter idiots who voted them in and who support them. The cancer started with Reagan in the 80s. Another Republican. The last Depression (1920s/30s) began under a Republican too. A Democrat got America out of that Depression.
Look at that cute face, just waiting for a hot load. I wonder what that dumper of hers looks like. Wouldn't mind havin a gander at her ole'fun bags there as well. Come on hunny....show us yer piss flaps.
Let's face the facts. Everyone had a hand in this. The government for trying to give away loans for votes and power. The Banking industry for trying to make obscene profits for their stockholders. And those people, many of which I'll bet knew they couldn't afford what they were buying, but did it anyways. They're the ones who'll blame everyone else for their stupidity. Yes, there are many who actually thought they'd be OK even if the rate went up. Others didn't care and took it anyways.
You see...its all in the equation..its the heat of the meat x the mass of the ass, divided by the fit of the slit...if her left leg was lunch, and her right leg was dinner! Do ya think she,d mind if i ate between meals?..ps if men get hard-ons....do women get wide-ons?Whats the difference between oral sex and anal sex?
You yankee doodles should be worried, and i mean really worried!From what i can tell your biggest problem ain't centered just on the economy(which was destined to self destruct before we were even born)and it ain't just about whether or not its part of a bigger agenda,Its about whether you yanks can form any unity amongst yourselves..If the US economic collapse comes as a complete surprise to you, then that's because you were asleep, time to wake up and smell the AMERO!
The core of the problem is American propensity to spend more than what they earn.
It's called "deficit spending".
If people pursue deficit spending, it's only a matter of time before the consequences of their irresponsible actions catches up on them ---> bankruptcy.
"Don't buy what you can't afford."
You speak the truth, but unfortunately, the majority of Americans are dumbfuck, stupid and clueless.
You are clueless. If the bank gives me $50K without doing their DD, of course I will spend the muthefucka!! won't you?.. It's their greed that you should blame, Americans are the victims.. Got it? Good!!
Living up to your name are ya..."themasturbater" Do me a favour and crack one off somewhere else, ya knuckle dragging window licking, punkass, son of a thousand fathers!
Love YA, But you missed the mark. . Poor people didn't create this or any ( so called crisis ) and neither did the Gov't. The Hank Paulson's of the money mgmt crowd with their Enron style of accounting did. Then they, the country's richest 10 % get Taxpayer sponsored welfare. Not so hard to do when everyone voting for the bailout just happens to own stock. And that FDIC increase won't do the majority of americans any good since they ( YOU ! ) don't have any real money in the bank anyway.
Actually, without knowing it or not, "poor" people did help create this mess by either being duped, ignorant, or too lazy to do proper research by buying more home than they really could afford based on their income and total expenses. Yes, our friends on the left insisted that banks give loans to those with marginal means or credit, and yes many banks took the money with govt backing. But I am tired of hearing it's just the banks or the rich. The "poor" have part of teh blame too!
I agree. There is is a lot of responsibilty for this crisis on the lending industry of course; but whatever to personal responsibility? Yeah, it's the American dream to own a house, but what happened to reality? How big a calculator was needed for these risky buyers to be convinced THEY COULD NOT AFFORD IT?
No, she is beginning to realize how true conservatives think, not the junk conservatism the republicans in DC are trying to pawn off. And if she is scaring you... maybe it's because she is right. Personal responsibility and accountability have been lost with "political correctness", where everything you want to do is OK. It's not!
I never bought a house because I can't afford the shit. Don't forget the house flippers also who got stuck holding the bag when they would buy 3 or 4 houses at a time hoping to sell them in 6 months at 100,000 dollar profit because of insane REAL ESATTE MARKET PRICES, these flippers should rot in jail
We aren't outta this yet. The personal credit card debt is fixing to hit hard, creating problems unknown. I have removed my money from my bank account as a fraudulent attempt was made to access it by a well known company. Desperate Huh. I have also bought over $400 in canned food and plan on much more over the next few days as I feel "somethings in the air".
on a different note; your buddy, christopher buckley, just quit the "national review," a magazine that his ultra conservative father william f. buckley founded and edited...apparently over controversy about voicing his intention to vote for the liberal obama. you may have planted a seed in his brain!
Problem is it was those pesky Democrats like Barney Frank who were forcing the banks to make these loans and then refused common sense regulations for this part of the market when the alarm was sounded 3 to 5 years ago by various folks from within the government and outside the gov't as well - folks like Warren Buffet, John McCain, Ron Paul, etc...
This video would have been very usefull years ago. Anyone who hasn't learned their lesson by now never will.
....then again, maybe they did better than the rest of us that didn't buy into the bubble; thanks to our socialist government bailing them all out and destroying capitalism and everything America once stood for.
you're very right, i have a minimon wage, i don have more money than other people i know the have more, but they tend do spend more than me too. so they finish with less money than me. happy me !!! :D
You have student loans. Hell yes, you were guilty. Never take out student loans, kids. Just go to a community college until you have the dough. Make good grades and get a scholarship.
In Communist China, the government forces the ordinay people to accumulate a savings by means of discouraging unnecessary consumption particularly imported expensive foreign goods. It's called "demand destruction".
In the U.S. the government bails out Wall Street, greedy banks, greedy CEO's and leaves ordinary people to pay for these massive bailouts in the form of taxes, totally screwed, fucked up and out in the cold.
Astonishing point ("Stop buying what you can't afford").
Though I, like many, couldn't have put it quite as intelligibly as the writer you cite, I've known it since probably 2005 that people were too often trying to keep up with the Jones'.
I too have been a victim of this, but it didn't cost me the amount of a car or house. In fact, it was a TV that I couldn't afford (not quite realizing it at the time). Simple budgeting could have prevented that, as it could have prevented all of this.
Well look, at Americans in general wasting money to go see football games..oh wait look at the athletes who make over a million who run a ball down a field... one of the main reasons I left America back in January 2002'..been living as an Expatriate since.. better wages amongst somethings
people spending way more than they make is what has kept the economy rolling so nicely for a long time now. The check finally came due and we all get to pay for it. Fun times. I have no problem with those eyes tho. You look good. you always look good.
I have more than 10 credit card, yet I pay off all my outstanding balances every month. The bottom line is I'm disciplined enough to enjoy the safety of credit card without plunging myself into debt. I don't understand it, if you could not afford it, why buy it? It's often said that members of a street gang are obsessed with their street reputation, which leads them to commit violent crimes for seemly negligible money.
This nation acts collectively like a giant street gang whose only concern is the maintenance of outward "coolness" or the fraudulent idea of "we only have one life, so let's live it", which are the root of all irresponsibility.
Most people in the U.S. are not responsible enough to spend other people's money AND pay it back in a timely fashion....Having loaned people money, I understand why the credit card companies charge interest and late fees. You would think these penalties would cause people to take their borrowing more seriously.
We bought a home about two years ago and are going through a rough period as I just got laid off after 18 years with the same company. The Resident, with her attitude and comments, helps get me through this. . .
It's not that simple. International bankers have engineered this economic crisis for decades. Martial Law will be at your doorstep soon enough. Watch the documentary:
Well what else can you expect from a country where the only credit card advice is, "Cut them up!"
Every daytime talkshow about credit card mishaps offer solutions such as: stay away from them, destroy them, an (my favorite) freeze them in a block of ice.
For some reason, no one mentions grabbing a fucking calculator or figuring out if your "goes ins" are less than your "goes outs".
We're teaching people to be paranoid rather than being responsible, as if MORE ignorance is the best solution.
I agree with you. I'm 26 and have never had a credit card, so I only buy what I can afford. Sure I may not have as many nice clothes or overseas holidays as my peers who have credit cards, but I don't have any of the debt either.
I don't own a house, I don't have any shares - people are talking about the financial crisis and I'm like, "What financial crisis?"
I never got why people buy things on credit. I never even spend more than I make, so it's always building, but I don't really like buying things anyway
I think far too many are being fooled into believing that the recent economic crisis was singularly caused by the mortgage fiasco. Funny how the millions spent on advertisements by "loan sharks" to entice struggling Americans into variable loans on homes hyper-inflated by shady no-good-nicks have been forgotten like the sands of time.
seems that those needing the most help, are left holding the bag. While the con-men double down on the tax payer again for 7-billion.
Agreed, newport. If someone really wants to understand who had the power to cause this, they need to look at who has the power to profit by it.
Working poor bought houses with gotcha variable rate loans because:
1) Very few people were clever enough to know that Greenspan, the banks, and the media were lying to them.
2) They were desperate to buy a house before they couldn't anymore, thanks to the hyperinflation caused by redistribution of wealth and new real estate trading tax breaks.
What I've learned from reading about the financial crisis is that the blame falls on EVERYBODY involved. Certain Democrats wrote a bill making it too easy for banks to give bad loans to low-income people. Certain Republicans wrote a bill removing important restrictions on how banks can do business. Fannie Mae, Freddie Mac and other financial companies took advantage of those loose restrictions by knowingly making and selling bad loans. And yeah, people bought homes that they couldn't afford.
lol, I love it. People seriously need to realize that you can't live off credit forever and if you're buying something that's way out of your range that you couldn't possibly buy or save up for without credit.. that should be a clue that you're living beyond your means. Whatever happened to saving up for things that you really want?
Besides that, banks need to go back to being vigilant about people's credit-worthiness again.
they get bailed out from out taxes but for people who have to work 40 hours on $5.something to feed their family are supposedly "parasites" if they get a welfare top up wtf
some of these wankers.. i mean bankers (same thing) walked away with salaries and bonuses in the millions
one of the CEOs of a british bank who eventually got fired is on a £600,000 ($1.2m) pension - 120 times what old age pensioners r expected 2 live off FOR DRIVING THE BANK INTO THE GROUND
The 52 words are right about Fannie and Freddie, but there's much more. At the root of the problem is the Federal Reserve, forcing interest rates to levels below what the market can tolerate. Without the artificially low interest rates, the mal-investment in overpriced houses and all the other excesses would not have been possible. Low interest rates = too much credit; too little saving. It's inevitable.
Wise words, greed was the downfall of the big money lenders and banks, they wanted it all and they wanted it now.
If money or rather, credit, is offered to people, of course they are going to take it, I hope lessons are learned from this crisis, because the mojority of people who will suffer are home owners, people i ndebt and general working people already strugling, over here in the UK job losses are at a high not seen sin the last big money crisis..yet they won't put in new laws this time!
I think you don't really understand what has happened. You need to Google "credit default swap", and read some more. We're in this hole because professional investors found a legal way to gamble with other people's money.
True! But still, people knew they were buying houses they couldn't afford, and people in this country carry much higher personal debts more than others. No one forced people to buy houses they couldn't afford at variable rates.
True, but these things did not cause the problem. The problem was already there, waiting for something to expose it. Luckily for us, bad mortgages exposed the crooked situation before it got even worse that it did get.
If an engineer built a bridge out of toothpicks, you wouldn't blame traffic for causing the bridge to collapse. You'd blame the engineer, because any old fool knows you shouldn't build bridges out of toothpicks. It's really that simple, and it's really that wicked.
Let me get this straight - you criticize people for taking out loans for housing they can't afford, while at the same admitting that you took out loans for schooling you couldn't afford?
Hahaha, I hear ya. But I can afford to pay my school loan off at my fixed rate, unlike the bum mortgages these people bought at. Always good comments from you, though!
But .. but .. how else am i supposed to buy your shirts and mugs and lapel pins, and my overpriced, under-caffeinated, bitter StarShmux mocha that tastes like McCain's debate defeat the other night? Huh? Huh?!
Haha, "Stop Buying what you cant afford - got? good" Fucking Funny, Wake some people up for sure. But too late now though, cant fix the problem now without the hard times.
Shes so cute. And Very smart.
KharaMkhara 1 week ago
No one even admits how the problem started. It's all about the redistribution of wealth. Give an opportunity to the illegals to occupy nice houses, and they'll flood Amerika by the tens of millions. Then, have the stupid hard workers pay high taxes to bail them out. Word gets back to Mexico about how stupid Amerikans are, and more Mexicans come for their freebies. Then, the Communists promise the Mexicans even more, which creates a huge base that is willing to fight for Communism. PERFECT PLAN!
aTellerOfTruths 1 year ago
More sense in 78 seconds than you get in most TV financial 'experts' in a whole hour.
Well done!
LibertyDownUnder 1 year ago
i bet she went to buy a golden bracelet with 2 dollars after this video :P
rAnDoMZerg1 1 year ago
This has been flagged as spam show
THATS WHY
[] The Unbelievers spend their wealth to hinder (men) from the path of Allah, and so will they continue to spend; but in the end they will have (only) regrets and sighs; at length they will be overcome
darladodo1 1 year ago
Sexy and financially educated?
Are you married? haha
luvUtube247 1 year ago
do some more research, thats just a small part of the problem.
bluesmann8 1 year ago
@bluesmann8
right
barnboy6 11 months ago
Beautifully succinct.
TheSilverHolder 1 year ago
ESO ES!!
Xcellent and Brief
Shan23Studios 2 years ago
in a way in my opinion...the economy is to advanced..thats what brings the downfall...especially credit cards..i think credit and loans is the fall of the economy combined with the american idelogy...wich is to lavash themselves with lifes luxuries and people boring money they cant pay back you get..americas economy...thank you ppl....i know well have to deal with taxes more then any of my ancestors
WillyT1123 2 years ago
it was due to borrowers who are very superficial and banks who are damn greedy. The ones who suffered are the savers
3muzic 2 years ago
She is right!!! I was about to click on her advertising banner in the top right of my screen! Instead I will send some hate mail to these companies for trying to get me to bankrupt myself with their crap!!!
BIGSBYTREM 2 years ago
Stop buying if you can't afford?!!! That is why the governments created the concept of credit card, buy now, pay later....because governments know that people can't afford anyway. How do I buy a house that is worth $500,000? Exactly....get a bank to lend you some money, then pay off with interest, otherwise, wait for a thousand years to build your equity and to overcome inflation as time goes on. In the old days, a dime was a lot of money. :) This girl has beauty but no economic brains.
IronManu77 2 years ago
Americans spend too much, borrow too much and don't know when to stop. Their saving rate is so low.
pointygal 2 years ago
You place blame on the wrong people. Slaves earning $11 per hour are not at fault. Our "leadership" is. They dreamt up this hell on Earth for us and everything is going as they planned.
FarahWonderland7 2 years ago
But the result of that is a double digit unemployment rate,
xj2yzz 2 years ago
Those with Granite counter tops will lose their homes. Glad I bought a shit box and rent the upstairs. I sleep well at night knowing the rent will pay the mort. The rental market is only getting better for me.
Freedom is no debt, a cash flow and plenty of food with a huge garden, canning and a dehydrator for your food. Always pack in mylar. Good luck.
GreatLakesBuffalo 2 years ago
When the economy depends on people to buy stuff so the economy can grow, then there's something wrong. I am certain that the stock market, the existence of shares that ppl buy to get money without working for it is at the root of the problem because CEOs, instead of working for the long term, want to publish good quarterly reports to maintain or raise the shares'value. Forget about ppl buying stuff they need. It's irrelevant! It's not "we the people", it's "we the consumers" darnit!
Khamomil 2 years ago
The best way to get a sound economy iss if every one woul cut their credit cards and throw them out... SSave up money for what you want. If you can't save you can't buy. tough luck...
gabbe81 2 years ago
Grow some veggies- you can create wealth independent of the monetary system.
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." Thomas Jefferson - 1802
bopn 2 years ago
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Superficial analysis. She's, again, accusing people of behaving irresponsibly. What she fails to see is that the policies and "ingenuity" of this capitalist market drove the crisis, for the Fed was encouraging people to borrow money from banks at incredibly low rates to buy houses, and by doing so they created the boom (boost in the activity) that turned into a bubble (house prices rising).
facrp 2 years ago
Then, on top of that you have to add to the equation that the banks were encouraging sales people to offer mortgages without much credit scoring, so they could quickly pack all this debt under fancy names like Structure Investment Vehicles and sell it to these hedge funds she mentions, and then, and only then, you can accuse people of being irresponsable for buying stuff they can't afford.
facrp 2 years ago
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facrp 2 years ago
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facrp 2 years ago
I'd put her on credit
Mendetus 2 years ago
ok you got it. Too much credit is the reason for this "financial mess". but whats going to happen. i know whats going to happen. If u check my financial favorites, think and research u will know it to and be able to prepare and profit from it.
Mongodelight 3 years ago
u will know it too, be able to prepare and profit from it. Otherwise chances are B I G that u get totally wiped out.
Mongodelight 3 years ago
You hit the nail on the head with this!
NoMTAtransitcuts 3 years ago
You and i see the big picture, Thank god im not alone,lol. i am sending a friend invite to you. i hope you accept it. im 40 yrs old and a full time day trader/married 2 kids. Thank you for the great common sense approach to the economy and personal economic advise. i hope people take your advise. its great advise for everyone.....Your doing a good dead and i would like to see more vids...Thanks again
noangermanage69 3 years ago
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The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
MEXICO is Number 1 Crime & Terror in the USA.
jtx1bx 3 years ago
I don't think its entirely the fault of the individual.. After all it was govt who provided the cheap cash for banks to loan irresponsibly..
However personal responsibility is a much better mantra the collective guilt.. :)
xelenty 3 years ago
Thanks for this video. you are right about people buying things they don"t need. If you can"t pay for the damm thing don"t buy it. Good girl keep up the good work.
bosswall 3 years ago
Your smile seems like a grimace... whats up with that?
ohhfajitas 3 years ago
Wow! Two great videos in a row from the Res. Most liberals and conservatives, entirely dishonestly, blame the "unregulated market" for the crisis. But the main culprit was the Fed, then come Freddie Mac, Fannie Mae, the implicit "to big to fail" policy and the Community Reinvestment Act.
Jocke1776 3 years ago
It turned out that our financial crisis was my fault. You can watch my video confession on my youtube channel: "Financial Crisis is my Fault".
MainstreetEconomics 3 years ago
a good video. you forgot one thing. the powers that enabled fannie mae and freddie mac to set the stage for this disaster were Democrats in congress. the law signed by Bill Clinton. G.W. bush attempted to reform and reverse this law in 2006 but was shot down by the new democrat congress. but that was left out of the election.
rugger8541 3 years ago
Don't lie. Bush is as guilty as all the other politicos.
verymaddog 3 years ago
actually no. fannie and freddie were created long before GW Bush was the president. and his attempt to reform and correct this flawed and corrupt bank loan for the inept was crushed by Democrats who use it for cheap votes.
rugger8541 3 years ago
Lies. The republicans are just as lefty and corrupt as the democrats. The only noteworthy thing about bush is that he was a bit more evil and stupid than the average politician.
verymaddog 3 years ago
just admit it. you hate bush. you have no basis other than you don't like him. the facts however show that Democrats have set this country up for a depression with their left wing ideals. this is when you come in and say "nuh uh!"
rugger8541 3 years ago
Of course I hate bush. He's a socialist. Only deluded people like you believe that the repugs are different from the dems. False. Both parties favor big government and socialism.
verymaddog 3 years ago
your american dollar is going to collapse, there will be a great depression like none other seen in history... leave the country move to europe...
punjabisikhwarrior 3 years ago
As the former President John F Kennedy Gave speech about Secret Society. PLZ listen to him.
Elaheh1naz 3 years ago
Bilderberg, Bil------der-------berg. They are whole bottom key to all this. I am sure even Bush's family from way back had connection with some of these Bilderberg members. There is a documentary of Bilderberg right here on youtub.
Elaheh1naz 3 years ago 2
I think she needs her thyroid checked. Could be serious.
weilandjason 3 years ago
i don't get it ! lol
i love u!
penguinux 3 years ago
Fanny & Freddie Mac were bank accounts for the democrat liberals
k3304 3 years ago
I've got a lot of money that you can spend. Want to hook up? LOL
EvenSteven2004 3 years ago
I have been debt free for almost 10 years now and sleep well at night.
b5kalad 3 years ago
She aint giving you the whole picture.
Bottom line, it was the Federal Reserve.
Simpateeko 3 years ago
Smart Beautifull and Funny..
oldford71 3 years ago
stop invading other countries, when you can't afford.
stupid video game generation, it was not just the housing market , when you act like Lewis and Clark and open up new frontiers, that is what you get for the trill of that adventure.
bluemonday2020 3 years ago
Follow the money and crash into the bankers and military complexes, with thousands of people in big crowds, all with flash grenades, and then flash them out...
???
alienspacecentereast 3 years ago
Capitalism is done. Yeah the rich have ALL of the opportunity in the world in a capitalist system, but the poor tend to be stuck being poor and depressions and recessions are problematic and deplete the middle class.
NewRevert 3 years ago
I think your videos are much better when there is no sound coming out of your mouth.
rufusdawes12 3 years ago
Our government needs to learn this lesson as well. We are spending our way into bankruptcy. Can our gov declare for chapter 11?
WSOR4025 3 years ago
your vids are SOOO much more interesting when ur rack is on full display...yawn yawn...you TAWK 2 MUCH!!
oblibious47 3 years ago
This is true. Also, please don't think you are blameless miss.
You paid for an overpriced educucation requiring a loan from the Government. You are thus supporting an over-inflated education system that has adverse affects on other sectors such as healthcare.
You purchased an education you can't afford and thus required a loan because you couldn't afford it. Welcome to the broken economy that is America, where NOTHING is affordable.
We are all to blame.
KhanIndustries 3 years ago
well said but I remember a time when only a few people could afford cars now everybody except for you and a few other people (I can count them on one hand )have a car so economicly things had to change to accomodate everyone except for you and a few other people now the whole thing has turned to items like seadoos ATVs and thats right the motor home thats a total of about 50k I have to come up with ...yes me at the gas pump the grocery store etc so they can have them ugh !!!,I agree with you .
bobboberan 3 years ago
I like it !
jumpwatson 3 years ago
Bullshit. You are liar when you say you don't own much. You make this show so you must be making some money and enough to afford a car. Ha Ha Ha ha Ha.
timbosforporn 3 years ago
If people put 1/3 of the time they spend into chasing the materialistic garbage of this world. Into other facets of what really matters in life we would not be in the place we are right now with not just the economy of this country, but the entire world as a whole.This is also true in all other things :). Oh btw Resident you are beautiful not because of your apperance that comes, and goes, but because you have the ability to make people think.The tricky part is to get them to act.
Skill3tSauc3 3 years ago
I think you should contact lionsgate films, you would make a way better Dagny Taggart than angelina Jolie.
bryanSandridge 3 years ago
Finally something that I can agree with you about. The CRA and Federal Reserve should also have been mentioned. And it certainly should have been mentioned that it was liberal Democrats who were responcible for forcing banks to make these politically correct loans that caused the financial fiasco.
I suppose you are still going to vote for Obama, who seems to be promising give-aways to everyone. To me it sounds like he wants to spend more money than the government has.
JohnRinNoHo 3 years ago
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The way Earthquake affected people afraid of their cracked walls & roofs to be falling on them are sitting under the open sky, in the chilled cold similarly the US investors afraid of declining economy are not investing any more in the collapsed US financial system afraid of their investments to distort in the worst way, thus making the US economy balloon burst altogether. 3:54 And (the unbelievers) plotted and planned, and Allah too planned, and the best of planners is Allah.
yahoovisitor 3 years ago
You rock!
ChikaraNoGenso 3 years ago
And whom is responsible for this? B/c your little clip didn't seem to tell the EXACT truth of it all! Hmmm, let me think for a second... DEMOCRATES as well pushing Obama #2 on the list for handouts from Fannie Mae and Freddie Mac. The same people you want to vote for is ruining this country, Please look up your facts correctly, and TRY not to use a LIBERAL site/paper to find your "opinions" I mean... facts. *cough*
LaurenDouglass 3 years ago
Yes, but the situation is actually more involved. Our economy was deliberately brought to this point in order for the "solution" of a grossly un-Constitutional "Bail-out bill" to become politically feasable. The President, (via Treasury) now has unilateral & entirely unaccountable power over the use of public money thanks to this bill which was passed via bribery, fear mongering and intimidation involving threats of Martial Law directed at members of Congress,if they refused to pass the bill.
Destry7 3 years ago
Dictatorial power has thus been illegally acquired by the President over the economy of the United States, through methods which have been widely & rightly described as a coup.
It should not be a surprise that both of the main Presidential cadidates haved affirmed their corruption by voting for this bill, since they will inherit this arbitrary power, free from Congressional oversight.
It is "_Change_", definitely, but of altogether the wrong type, since as usual, the people are victimised.
Destry7 3 years ago
"The people, unfortunately, are still very ignorant,
and are kept in ignorance by the systematic efforts
of all the governments, who consider this ignorance,
not without good reason, as one of the essential
conditions of their own power." ~ Mikhail Bakunin 1871
Destry7 3 years ago
i betya she sucks some good phalis.
AnthraxBird 3 years ago
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The period of 6-18 months for the people to learn the harmful basics seems a joke. As majority of US citizens is educated & aware of the economical crisis. Cheap waged laborers are due to growing global population in search of food. But creating joblessness in USA in search of cheap foreign labor is not the answer. It will burst the economy balloon being patched. The interest rates may be revised to the applicable level. But creating disharmony or joblessness doesnt solve the economical decline
yahoovisitor 3 years ago
Excellent advice :o)
CallidoraLBlack 3 years ago
yore words are true my friend and if you think there is a lil more to India than being known as a 3rd World Nation....then seriux...you should migrate to my tiny State called GOA...
We grow our own food here and make our own drinks and there are wells for water and life is worth livin!
Think bout it!
roquelazarus 3 years ago
Thank you, resident, for showing that clip. I thought I was going insane because i was the only one who knew this. Maybe now the people can understand that the Democratic Congress does not work and we need more then a few repiblicans in office....not that that is what your saying but thats what i believe.
Finder77 3 years ago
She completely misses the root cause, which was the Federal Reserve providing bottomless credit to the banks to lend out to these borrowers. The Fed had accomplices, but the Fed is still the perp.
-jcr
NSResponder 3 years ago 2
She is another example of someone who has been given a platform to speak due to her pretty little face. Funny thing is she actually thinks that it is because she has such insightful comments. She would fit in down in Hollywood nicely. She is just a pretty face and they are just movie stars, too bad they dont realize that is all that they are.
ArizonaWilly 3 years ago
I agree.
rikiboum 3 years ago
Logical proof the economy is booming (using Republican logic):
Tax cuts for the rich and deregulation make the economy boom
The Republicans have enacted tax cuts for the rich and deregulation.
Therefore, the economy is booming.
PerryLogan 3 years ago
Check out Max Keiser's channel.
It's fun and you might learn something.
Boogiefish 3 years ago
would you like to sit on my face?
est981 3 years ago 2
She hasn't deleted your comment,.... lucky bastard.
BillysSoloProject 3 years ago
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This is about the same situation Pakistan is passing thru. Countrys economy is being loaned/sold @ the rate of a common mans life leading to anxiety & flux in all departments of life ensuing in no-investment crisis & every new govt blaming the past for all the hazards & again taking its hands out to beg for more loans. The country is being sold out eventually by parts, with disorder, joblessness, fake inflation, injustice & hypocrisy as the main issues resulting in anarchy & suicide bombing,
yahoovisitor 3 years ago
still lookin good, and as always you're right on.
marineiguana505 3 years ago
Yeah okay...I am struggling w it now but again I got a Lousy loan even though I qualified for a better one..I am okay and hope to keep my huose..So I still say: "80% banks fault 20% consumers fault" Again since when did banks lend money to anyone??? Never before..Its a mess all around...
oneadamtwelve30 3 years ago
lol, I love your videos, watch them religiously
oking83 3 years ago
Warren Buffett: "Be greedy when others are fearful."
Right now is a great time to buy stocks. There are lots of value companies at bargain prices. Not sure stock prices have bottomed out just yet but pretty close.
Plissken07 3 years ago
It's really very simple.
The Republicans wanted deregulation and taxes cut for the rich.
They got it.
By their own measure the economy should be doing swimmingly now.
PerryLogan 3 years ago
"Stop buying what you cant afford" hahaha so true, too bad if we did this now our economy would take a greater fall
DiegoAMejia 3 years ago
Iam getting sick and tired of all the coincidents(but i dont belive in big conspiracies).when Bin laden attacked New York,Bush had no trouble in getting his hands on the midle east.FURTHERE MORE,istnt it a coincidents that the loan scam begane during the war,artificialy supporting the US economy.Now when Bush will step down ,we see all the trouble coused by his party .I dont belive in coincidence .They are better educated then me and i know that they knew whats going to happen
Konrad1Walenrod 3 years ago
Resident, you just keep getting hotter and hotter, and oh yes, you nailed it. The American dream should be bought with hard work, not dubious credit.
caction66 3 years ago
"Son of a thousand fathers" HA! I'll have to remember that one. Sounds like bastard indian child.
DarthTurducken 3 years ago
It took only twelve years for deregulation to destroy our economy. The Republicans wanted deregulation and taxes cut for the rich. They got it. By their own measure the economy should be doing swimmingly now.
PerryLogan 3 years ago
In case no one noticed, isn't it coincidental that the economy began taking a downturn AFTER the democrats took the house AND senate? Of course, the real seeds of the whole financial mess took root under Jimmy Carter's Presidency, and none of the Presidents since then took any real notice. And isn't it interesting how the former CEO for Fannie Mae made $90 million in 6 years? Isn't he also a "consultant" or an economic adviser for Obama? I believe I read that somewhere.
mjchromczak 3 years ago
The economy began to take a downturn after the culmination of the 8 solid years of dysfunctional, utterly irresponsible "government" inflicted upon the United States by the Republicans. The Republican leaders are at fault, yes, but it is MORE the fault of the complete & utter idiots who voted them in and who support them. The cancer started with Reagan in the 80s. Another Republican. The last Depression (1920s/30s) began under a Republican too. A Democrat got America out of that Depression.
bleg1 3 years ago
Look at that cute face, just waiting for a hot load. I wonder what that dumper of hers looks like. Wouldn't mind havin a gander at her ole'fun bags there as well. Come on hunny....show us yer piss flaps.
Flerg3 3 years ago
Let's face the facts. Everyone had a hand in this. The government for trying to give away loans for votes and power. The Banking industry for trying to make obscene profits for their stockholders. And those people, many of which I'll bet knew they couldn't afford what they were buying, but did it anyways. They're the ones who'll blame everyone else for their stupidity. Yes, there are many who actually thought they'd be OK even if the rate went up. Others didn't care and took it anyways.
mjchromczak 3 years ago
the end was annoying
but who am i to say anything, i spend what i cant afford
absolutjessica 3 years ago
jean claude van..DAMN SHE,S FINE!
You see...its all in the equation..its the heat of the meat x the mass of the ass, divided by the fit of the slit...if her left leg was lunch, and her right leg was dinner! Do ya think she,d mind if i ate between meals?..ps if men get hard-ons....do women get wide-ons?Whats the difference between oral sex and anal sex?
Oral sex makes your day..
Whereas anal sex makes your hole weak!
ousamadidndoit 3 years ago
You yankee doodles should be worried, and i mean really worried!From what i can tell your biggest problem ain't centered just on the economy(which was destined to self destruct before we were even born)and it ain't just about whether or not its part of a bigger agenda,Its about whether you yanks can form any unity amongst yourselves..If the US economic collapse comes as a complete surprise to you, then that's because you were asleep, time to wake up and smell the AMERO!
ousamadidndoit 3 years ago
Hello resident,
Very good video.
The core of the problem is American propensity to spend more than what they earn.
It's called "deficit spending".
If people pursue deficit spending, it's only a matter of time before the consequences of their irresponsible actions catches up on them ---> bankruptcy.
"Don't buy what you can't afford."
You speak the truth, but unfortunately, the majority of Americans are dumbfuck, stupid and clueless.
stev9090 3 years ago
You are clueless. If the bank gives me $50K without doing their DD, of course I will spend the muthefucka!! won't you?.. It's their greed that you should blame, Americans are the victims.. Got it? Good!!
mockingarab 3 years ago
You are such an irresponsible dumbass.
AwakenedChrono 3 years ago
love her intelligence, lipz and tits!!
LeanOnUs 3 years ago
Have some respect you little prick
theaggravator 3 years ago
Living up to your name are ya..."themasturbater" Do me a favour and crack one off somewhere else, ya knuckle dragging window licking, punkass, son of a thousand fathers!
ousamadidndoit 3 years ago
Love YA, But you missed the mark. . Poor people didn't create this or any ( so called crisis ) and neither did the Gov't. The Hank Paulson's of the money mgmt crowd with their Enron style of accounting did. Then they, the country's richest 10 % get Taxpayer sponsored welfare. Not so hard to do when everyone voting for the bailout just happens to own stock. And that FDIC increase won't do the majority of americans any good since they ( YOU ! ) don't have any real money in the bank anyway.
acme9 3 years ago
Actually, without knowing it or not, "poor" people did help create this mess by either being duped, ignorant, or too lazy to do proper research by buying more home than they really could afford based on their income and total expenses. Yes, our friends on the left insisted that banks give loans to those with marginal means or credit, and yes many banks took the money with govt backing. But I am tired of hearing it's just the banks or the rich. The "poor" have part of teh blame too!
mjchromczak 3 years ago
Great ending!
theoriginalSkooby 3 years ago
Good video you are such an awesome person. You are not afraid to tell it like it is no matter what the dumbass comments are. Have a great week.
bille2588 3 years ago
You DIDN't HAVE TO SCREAM IN MY EAR!!!!!!
I've never been one to buy things i couldn't afford and do not support the bailout.
If you're a bad business, you should go out of business.
MertensCW 3 years ago
I agree. There is is a lot of responsibilty for this crisis on the lending industry of course; but whatever to personal responsibility? Yeah, it's the American dream to own a house, but what happened to reality? How big a calculator was needed for these risky buyers to be convinced THEY COULD NOT AFFORD IT?
Good post, Lori.
smiche 3 years ago
FUCK! You are HOT!
IamGengar 3 years ago
she is getting much more crazy and scary in recently...
fletcher0102 3 years ago
No, she is beginning to realize how true conservatives think, not the junk conservatism the republicans in DC are trying to pawn off. And if she is scaring you... maybe it's because she is right. Personal responsibility and accountability have been lost with "political correctness", where everything you want to do is OK. It's not!
mjchromczak 3 years ago
I never bought a house because I can't afford the shit. Don't forget the house flippers also who got stuck holding the bag when they would buy 3 or 4 houses at a time hoping to sell them in 6 months at 100,000 dollar profit because of insane REAL ESATTE MARKET PRICES, these flippers should rot in jail
Generalrecall 3 years ago
lol fucking bitch deleting comments ;/
naveslaikss 3 years ago
We aren't outta this yet. The personal credit card debt is fixing to hit hard, creating problems unknown. I have removed my money from my bank account as a fraudulent attempt was made to access it by a well known company. Desperate Huh. I have also bought over $400 in canned food and plan on much more over the next few days as I feel "somethings in the air".
ProbableHypothesis 3 years ago
Can I buy you dinner? :-)
MakeItFunkyProds 3 years ago
on a different note; your buddy, christopher buckley, just quit the "national review," a magazine that his ultra conservative father william f. buckley founded and edited...apparently over controversy about voicing his intention to vote for the liberal obama. you may have planted a seed in his brain!
tristambeow 3 years ago
i just cant watch the video, i just listen to it cuz she is so wierd looking ;/!#!@
naveslaikss 3 years ago
Problem is it was those pesky Democrats like Barney Frank who were forcing the banks to make these loans and then refused common sense regulations for this part of the market when the alarm was sounded 3 to 5 years ago by various folks from within the government and outside the gov't as well - folks like Warren Buffet, John McCain, Ron Paul, etc...
beldorian 3 years ago
This video would have been very usefull years ago. Anyone who hasn't learned their lesson by now never will.
....then again, maybe they did better than the rest of us that didn't buy into the bubble; thanks to our socialist government bailing them all out and destroying capitalism and everything America once stood for.
jjenson2006 3 years ago
you're very right, i have a minimon wage, i don have more money than other people i know the have more, but they tend do spend more than me too. so they finish with less money than me. happy me !!! :D
shaggyb20 3 years ago
i have scholarships.
i too spend money i dont have. stupid credit cards... come monday i am canceling mine.
karrrmaaa 3 years ago
You have student loans. Hell yes, you were guilty. Never take out student loans, kids. Just go to a community college until you have the dough. Make good grades and get a scholarship.
quitejaded 3 years ago
In Communist China, the government forces the ordinay people to accumulate a savings by means of discouraging unnecessary consumption particularly imported expensive foreign goods. It's called "demand destruction".
In the U.S. the government bails out Wall Street, greedy banks, greedy CEO's and leaves ordinary people to pay for these massive bailouts in the form of taxes, totally screwed, fucked up and out in the cold.
stev9090 3 years ago
Astonishing point ("Stop buying what you can't afford").
Though I, like many, couldn't have put it quite as intelligibly as the writer you cite, I've known it since probably 2005 that people were too often trying to keep up with the Jones'.
I too have been a victim of this, but it didn't cost me the amount of a car or house. In fact, it was a TV that I couldn't afford (not quite realizing it at the time). Simple budgeting could have prevented that, as it could have prevented all of this.
freedomordeath 3 years ago
Well look, at Americans in general wasting money to go see football games..oh wait look at the athletes who make over a million who run a ball down a field... one of the main reasons I left America back in January 2002'..been living as an Expatriate since.. better wages amongst somethings
lazyakrab 3 years ago
You're a whore, too. You're still living off of 'wages'. Make your own company!
quitejaded 3 years ago
Yes, the lesson has been learned, but it will probably be forgotten in two weeks.
0504dj 3 years ago
people spending way more than they make is what has kept the economy rolling so nicely for a long time now. The check finally came due and we all get to pay for it. Fun times. I have no problem with those eyes tho. You look good. you always look good.
turfturbo 3 years ago
"Creditworthiness" makes it at least 53 1/2 words
mercurymonster 3 years ago
"Stop buying what you can't afford!"
AMEN!!!!
punkedup88 3 years ago
The USA economy has caused this problem and they should apologize to everyone around the world who has lost their jobs due to it.
warriorprince1010 3 years ago
Great video
bringideason 3 years ago
Damn right!!!
wickedgqpatrol 3 years ago
Woo you have some big bags under your eyes! Get some sleep or what ever you need to do.
GhostDog65 3 years ago
hahaha, I have giant baggy eyes, over and under and all around and no amount of sleep is ever gonna change it. :)
theresident 3 years ago
hey, i like those eyes! ojos asi
dasalsakid 3 years ago
She does have some lovely ones doesn't she?
dealmaker007 3 years ago
I have more than 10 credit card, yet I pay off all my outstanding balances every month. The bottom line is I'm disciplined enough to enjoy the safety of credit card without plunging myself into debt. I don't understand it, if you could not afford it, why buy it? It's often said that members of a street gang are obsessed with their street reputation, which leads them to commit violent crimes for seemly negligible money.
eatfastnoodle 3 years ago
This nation acts collectively like a giant street gang whose only concern is the maintenance of outward "coolness" or the fraudulent idea of "we only have one life, so let's live it", which are the root of all irresponsibility.
eatfastnoodle 3 years ago
Most people in the U.S. are not responsible enough to spend other people's money AND pay it back in a timely fashion....Having loaned people money, I understand why the credit card companies charge interest and late fees. You would think these penalties would cause people to take their borrowing more seriously.
dealmaker007 3 years ago
And it's tough living in NYC, right?
We bought a home about two years ago and are going through a rough period as I just got laid off after 18 years with the same company. The Resident, with her attitude and comments, helps get me through this. . .
SHADOWNADO 3 years ago
It's not that simple. International bankers have engineered this economic crisis for decades. Martial Law will be at your doorstep soon enough. Watch the documentary:
The Capitalist Conspiracy (1972)
- G. Edward Griffin
Zeitgeist, the Movie (2007)
- Peter Joseph
Zeitgeist: ADDENDUM (2008)
- Peter Joseph
watch?v=YeYn82j8Ycw
accersitusmaximus 3 years ago
Well what else can you expect from a country where the only credit card advice is, "Cut them up!"
Every daytime talkshow about credit card mishaps offer solutions such as: stay away from them, destroy them, an (my favorite) freeze them in a block of ice.
For some reason, no one mentions grabbing a fucking calculator or figuring out if your "goes ins" are less than your "goes outs".
We're teaching people to be paranoid rather than being responsible, as if MORE ignorance is the best solution.
TrenchantAtheist 3 years ago
Well Put!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
prince1will 3 years ago
I agree with you. I'm 26 and have never had a credit card, so I only buy what I can afford. Sure I may not have as many nice clothes or overseas holidays as my peers who have credit cards, but I don't have any of the debt either.
I don't own a house, I don't have any shares - people are talking about the financial crisis and I'm like, "What financial crisis?"
bacardibreezer7 3 years ago
I never got why people buy things on credit. I never even spend more than I make, so it's always building, but I don't really like buying things anyway
teooo 3 years ago
I think far too many are being fooled into believing that the recent economic crisis was singularly caused by the mortgage fiasco. Funny how the millions spent on advertisements by "loan sharks" to entice struggling Americans into variable loans on homes hyper-inflated by shady no-good-nicks have been forgotten like the sands of time.
seems that those needing the most help, are left holding the bag. While the con-men double down on the tax payer again for 7-billion.
newportlights 3 years ago
Agreed, newport. If someone really wants to understand who had the power to cause this, they need to look at who has the power to profit by it.
Working poor bought houses with gotcha variable rate loans because:
1) Very few people were clever enough to know that Greenspan, the banks, and the media were lying to them.
2) They were desperate to buy a house before they couldn't anymore, thanks to the hyperinflation caused by redistribution of wealth and new real estate trading tax breaks.
TheGiantRobot 3 years ago
What I've learned from reading about the financial crisis is that the blame falls on EVERYBODY involved. Certain Democrats wrote a bill making it too easy for banks to give bad loans to low-income people. Certain Republicans wrote a bill removing important restrictions on how banks can do business. Fannie Mae, Freddie Mac and other financial companies took advantage of those loose restrictions by knowingly making and selling bad loans. And yeah, people bought homes that they couldn't afford.
arodin 3 years ago
Looking at my phone bill I dont think I can afford the Internet. But I want the Internet. Oh dear Im all confuddled.
Noah2112 3 years ago
She's pretty...smart.
johntheunique 3 years ago
lol, I love it. People seriously need to realize that you can't live off credit forever and if you're buying something that's way out of your range that you couldn't possibly buy or save up for without credit.. that should be a clue that you're living beyond your means. Whatever happened to saving up for things that you really want?
Besides that, banks need to go back to being vigilant about people's credit-worthiness again.
lauseb 3 years ago
"socialism for the rich"
they get bailed out from out taxes but for people who have to work 40 hours on $5.something to feed their family are supposedly "parasites" if they get a welfare top up wtf
some of these wankers.. i mean bankers (same thing) walked away with salaries and bonuses in the millions
one of the CEOs of a british bank who eventually got fired is on a £600,000 ($1.2m) pension - 120 times what old age pensioners r expected 2 live off FOR DRIVING THE BANK INTO THE GROUND
RevolutionaryJam 3 years ago
Rez, What you Recommend is God's and grandma's way of doing money. It's common sense not rocket science. Love your channel!
mikejmon333 3 years ago
haha, totally true!
theresident 3 years ago
Hack! who's gonna drive our economy on steroids now?
nurbsenvi 3 years ago
The 52 words are right about Fannie and Freddie, but there's much more. At the root of the problem is the Federal Reserve, forcing interest rates to levels below what the market can tolerate. Without the artificially low interest rates, the mal-investment in overpriced houses and all the other excesses would not have been possible. Low interest rates = too much credit; too little saving. It's inevitable.
JiveDadson 3 years ago
thank you for real media keep going...
koOOokiMidO 3 years ago
I love the fact you use the media for intellectual thought and not more stupidity.
Truth, I would rather watch you than oprah.
MORE THE RESIDENT PLEASE
Curtisfred 3 years ago 3
Thanks, Curtisfred! Maybe an anonymous investor can hear you, hahaha.
theresident 3 years ago
Wise words, greed was the downfall of the big money lenders and banks, they wanted it all and they wanted it now.
If money or rather, credit, is offered to people, of course they are going to take it, I hope lessons are learned from this crisis, because the mojority of people who will suffer are home owners, people i ndebt and general working people already strugling, over here in the UK job losses are at a high not seen sin the last big money crisis..yet they won't put in new laws this time!
pierrepepi 3 years ago
I think you don't really understand what has happened. You need to Google "credit default swap", and read some more. We're in this hole because professional investors found a legal way to gamble with other people's money.
colorclocks 3 years ago
True! But still, people knew they were buying houses they couldn't afford, and people in this country carry much higher personal debts more than others. No one forced people to buy houses they couldn't afford at variable rates.
theresident 3 years ago
True, but these things did not cause the problem. The problem was already there, waiting for something to expose it. Luckily for us, bad mortgages exposed the crooked situation before it got even worse that it did get.
If an engineer built a bridge out of toothpicks, you wouldn't blame traffic for causing the bridge to collapse. You'd blame the engineer, because any old fool knows you shouldn't build bridges out of toothpicks. It's really that simple, and it's really that wicked.
colorclocks 3 years ago
Let me get this straight - you criticize people for taking out loans for housing they can't afford, while at the same admitting that you took out loans for schooling you couldn't afford?
Hypocrisy is such a bitch, isn't it?
CommentorX 3 years ago
Hahaha, I hear ya. But I can afford to pay my school loan off at my fixed rate, unlike the bum mortgages these people bought at. Always good comments from you, though!
theresident 3 years ago
I got it ! Joe the Plumber for president??
matrix1951 3 years ago
But .. but .. how else am i supposed to buy your shirts and mugs and lapel pins, and my overpriced, under-caffeinated, bitter StarShmux mocha that tastes like McCain's debate defeat the other night? Huh? Huh?!
motarasu 3 years ago
"Stop buying what you can't afford"...
Good advise.
Unfortunately, that's not the American way...
The American way is buy now what you cannot afford, using other people's money of course,
or sometimes we just outright take things away from others.
Manhattan was bought from the Indians with about $24 worth of trinkets, cloth, beads and other odds and ends. A scam.
Now, THAT'S the American way. LoL.
stev9090 3 years ago
Community Reinvestment Act, a Carter-era debacle.
llarzelere 3 years ago
Haha, "Stop Buying what you cant afford - got? good" Fucking Funny, Wake some people up for sure. But too late now though, cant fix the problem now without the hard times.
jinjin16 3 years ago