How the 2008 Financial Crisis Changed America

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jamesbond
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How the 2008 Financial Crisis Changed America

Post by jamesbond »

This video goes in detail regarding the effects of the 2008 financial collapse on America. It also explains how the collapse could of been even worse than it already was.

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Taco
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Re: How the 2008 Financial Crisis Changed America

Post by Taco »

10 million people lost their jobs, 8 million of them were men, 6 million people lost their homes. Also, lots of men had their wives leave them after they went broke which is probably a good thing.

The movie, "The Big Short' is about the 2008 financial crisis. I liked this scene a lot...

"One of the saddest lessons of history is this: we're no longer interested in finding out the truth." - Carl Sagan
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Re: How the 2008 Financial Crisis Changed America

Post by Moretorque »

The central banks are the back stop to the whole system...
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Re: How the 2008 Financial Crisis Changed America

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nn
"One of the saddest lessons of history is this: we're no longer interested in finding out the truth." - Carl Sagan
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HappyGuy
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Losing everything - the crash of 2008

Post by HappyGuy »

People have short memories but just the first minute of these videos should be enough to shake you up :!:

Sep 21, 2019
Homeless Man Lost Millions Now Lives in a Oakland Tent City

"Derrick is a survivor. After losing millions of dollars in the Great Recession of 2008, Derrick's life then snowballed to living in a tent homeless in Oakland, California."



Oct 11, 2018
The American Nightmare: 10 Years After the Financial Crisis | Episode 1

"On the 10th anniversary of the national housing crisis, four families told us about losing their homes and how they’re still struggling to recover. Long after the Great Recession ended, they’re still feeling the effects of the 2008 crisis, and they remain wary about possibly facing another one in the future." https://www.thepennyhoarder.com/subprim ... ge-crisis/



Jul 23, 2012
The Causes and Effects of the Financial Crisis 2008 (Educational)
https://www.youtube.com/watch?v=N9YLta5Tr2A
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fschmidt
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Re: How the 2008 Financial Crisis Changed America

Post by fschmidt »

And he will bring on them their wickedness, and for their evil he will destroy them, Yehovah, our god, will destroy them.
-- Psalm 94:23

May Americans suffer and die and burn in hell.
yick
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Re: How the 2008 Financial Crisis Changed America

Post by yick »

I was in South Korea at the time, and February, I was at this teacher conference at Seoul and the orginaiser was begging us to tell our friends how wonderful it was working in Korea. Loads of jobs and we had the pick.

Around about May or June, it was time to apply for another job and I fancied going to a place called Gangwon - a place that couldn't get teachers to save their lives, so it was better paid, more holidays, no office hours etc and I thought I'll give that a go - got in touch with an Australian recruiter who I knew there and he told me 'we have all the teachers we need for the whole province - every single one of them is an American' I nearly fell out of my chair on hearing the news.

And when it came to getting a replacement for me - there were TV anchors and lawyers applying - I was utterly amazed with the turnaround and there were so many out-of-work, college educated Americans coming to Korea who were between the ages of 22-30 - I couldn't get a job (and probably still couldn't) it changed the teaching expat landscape of South Korea for good.

Of course, it will happen again because capitalism relies on 'bust and boom' but will these hapless Americans come to China? Most of them are too soft to hack the middle of China - thank God!
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Contrarian Expatriate
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Re: Losing everything - the crash of 2008

Post by Contrarian Expatriate »

HappyGuy wrote:
May 6th, 2020, 6:40 pm
People have short memories but just the first minute of these videos should be enough to shake you up :!:

Sep 21, 2019
Homeless Man Lost Millions Now Lives in a Oakland Tent City

"Derrick is a survivor. After losing millions of dollars in the Great Recession of 2008, Derrick's life then snowballed to living in a tent homeless in Oakland, California."



Oct 11, 2018
The American Nightmare: 10 Years After the Financial Crisis | Episode 1

"On the 10th anniversary of the national housing crisis, four families told us about losing their homes and how they’re still struggling to recover. Long after the Great Recession ended, they’re still feeling the effects of the 2008 crisis, and they remain wary about possibly facing another one in the future." https://www.thepennyhoarder.com/subprim ... ge-crisis/



Jul 23, 2012
The Causes and Effects of the Financial Crisis 2008 (Educational)
https://www.youtube.com/watch?v=N9YLta5Tr2A
So much to unpack in these videos but the common denominator is severe lack of financial sophistication in all cases.

-The former multi millionaire had all of his holdings in one institution? What was he thinking?
-The single black mother purchased a home on a $34,000 salary, along with a car payment and kids to take care of? Really?

All of these people lived above their means until they could no longer do so. I personally have sold all my properties at a profit. I will never again buy another property again because it is a financial albatross especially for those of modest means.
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Re: Losing everything - the crash of 2008

Post by Taco »

Contrarian Expatriate wrote:
May 6th, 2020, 9:49 pm
HappyGuy wrote:
May 6th, 2020, 6:40 pm
People have short memories but just the first minute of these videos should be enough to shake you up :!:

Sep 21, 2019
Homeless Man Lost Millions Now Lives in a Oakland Tent City

"Derrick is a survivor. After losing millions of dollars in the Great Recession of 2008, Derrick's life then snowballed to living in a tent homeless in Oakland, California."



Oct 11, 2018
The American Nightmare: 10 Years After the Financial Crisis | Episode 1

"On the 10th anniversary of the national housing crisis, four families told us about losing their homes and how they’re still struggling to recover. Long after the Great Recession ended, they’re still feeling the effects of the 2008 crisis, and they remain wary about possibly facing another one in the future." https://www.thepennyhoarder.com/subprim ... ge-crisis/



Jul 23, 2012
The Causes and Effects of the Financial Crisis 2008 (Educational)
https://www.youtube.com/watch?v=N9YLta5Tr2A
I will never again buy another property again because it is a financial albatross especially for those of modest means.
This is true. Robert Kiyosaki said a house is your biggest liability.
"One of the saddest lessons of history is this: we're no longer interested in finding out the truth." - Carl Sagan
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Contrarian Expatriate
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Re: Losing everything - the crash of 2008

Post by Contrarian Expatriate »

Taco wrote:
May 6th, 2020, 11:26 pm
This is true. Robert Kiyosaki said a house is your biggest liability.
It seems like a lot more wealthy individuals are advising against buying houses. In addition to Kiyosaki, Grant Cardone, and James Altucher also consider it a bad idea.
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Cornfed
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Re: How the 2008 Financial Crisis Changed America

Post by Cornfed »

yick wrote:
May 6th, 2020, 7:43 pm
I was in South Korea at the time, and February, I was at this teacher conference at Seoul and the orginaiser was begging us to tell our friends how wonderful it was working in Korea. Loads of jobs and we had the pick.

Around about May or June, it was time to apply for another job and I fancied going to a place called Gangwon - a place that couldn't get teachers to save their lives, so it was better paid, more holidays, no office hours etc and I thought I'll give that a go - got in touch with an Australian recruiter who I knew there and he told me 'we have all the teachers we need for the whole province - every single one of them is an American' I nearly fell out of my chair on hearing the news.
Yeah, I was also there at the time and it was a fairly brutal shock to the system. The only reason I got a second year is probably that they wanted to steal my lesson plans and perhaps some of the students liked me for some reason. I would never have gotten a job there after that time.
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Cornfed
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Re: Losing everything - the crash of 2008

Post by Cornfed »

Taco wrote:
May 6th, 2020, 11:26 pm
This is true. Robert Kiyosaki said a house is your biggest liability.
We realise that Kiyosaki is a total fraud, right?
Moretorque
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Re: How the 2008 Financial Crisis Changed America

Post by Moretorque »

yick wrote:
May 6th, 2020, 7:43 pm
I was in South Korea at the time, and February, I was at this teacher conference at Seoul and the orginaiser was begging us to tell our friends how wonderful it was working in Korea. Loads of jobs and we had the pick.

Around about May or June, it was time to apply for another job and I fancied going to a place called Gangwon - a place that couldn't get teachers to save their lives, so it was better paid, more holidays, no office hours etc and I thought I'll give that a go - got in touch with an Australian recruiter who I knew there and he told me 'we have all the teachers we need for the whole province - every single one of them is an American' I nearly fell out of my chair on hearing the news.

And when it came to getting a replacement for me - there were TV anchors and lawyers applying - I was utterly amazed with the turnaround and there were so many out-of-work, college educated Americans coming to Korea who were between the ages of 22-30 - I couldn't get a job (and probably still couldn't) it changed the teaching expat landscape of South Korea for good.

Of course, it will happen again because capitalism relies on 'bust and boom' but will these hapless Americans come to China? Most of them are too soft to hack the middle of China - thank God!
What are you talking about, capitalism ???, this whole entire world wide system is nothing more than a conterfeit con job based at it's core put out by the commies masquerading as capitalist.

They are hoping everybody is going to be so stupid they are going to believe the BS they are spewing out world wide and of course the people who can think for themselves and call these con men out are to be shot in the head and thrown in a ditch or in this case more than likely served as Soylent Green the way things are looking.

The system is nothing more than a house of cards all based on compound interest on a supply of #'s the instituion that calls itself the bank has set up and enforced at gun point world wide... As Dr. Paul has stated the system " Communism " cannot stand on it's own so you have to have standing armies in the back drop world wide to enforce it.

I'm sorry there is no private property here in this system going up everywhere...
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Moretorque
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Re: Losing everything - the crash of 2008

Post by Moretorque »

Cornfed wrote:
May 7th, 2020, 12:25 am
Taco wrote:
May 6th, 2020, 11:26 pm
This is true. Robert Kiyosaki said a house is your biggest liability.
We realise that Kiyosaki is a total fraud, right?
Yes he is to degree, he is just another one riding the coat tails of the central banking scam as they inflate the world to oblivion then try and tell you free and open markets with private property did all this mess.

Kiysaki is scared himself at the moment and is probably figuring all this out, things aren't what he has been told at all.

The commies are coming the commies are coming, hip hip hoorah...! :)
Last edited by Moretorque on May 7th, 2020, 5:09 am, edited 1 time in total.
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yick
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Re: How the 2008 Financial Crisis Changed America

Post by yick »

Moretorque wrote:
May 7th, 2020, 3:48 am

What are you talking about, capitalism ???, this whole entire world wide system is nothing more than a conterfeit con job based at it's core put out by the commies masquerading as capitalist.
Yes, capitalism - what do you think it is.

Communism? Which hasn't been the bogeyman since 1991, have you come out of a time machine, boy? What communists are you talking about? What communist state are you talking about? A true communist state has never existed on the face of this earth. :roll:
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