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30/08/15
19:38
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Originally posted by danhoff
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its Main Street v Wall Street"
timber: I am not sure that one can do without the other.
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When there is a slave / master relationship, the master is no master without the slave existing
When there is a parasite / host relationship, the parasite needs the host to survive.
If Wall Street pushes hard enough and kills the Main Street, then who will act as the slaves to Wall Street? Where will Wall Street find new hosts to suck from?
Subprime was set up to suck all from main street. And even Future Main Street ended up being the new hosts after Wall Street sucked the current Main Street dead.
And I was amazed to read about the auto loan 'sub prime'. $1 Trillion of future consumption given to Wall Street again. This may end up worse than real estate sub prime. I cannot see 5 year old Toyotas bringing a lot on on the repo market. Ahhhh, I can see it now. Some banksters may be left holding the bag on 10s of millions of 5 to 10 year old junk SUVs. Not to worry. Instead of TARP, we will have CARP... Car Asset Relief Program. The FED will then become the biggest used car salesman on earth. And, the future generations will pay the banksters for losing out on the SSM (speculative SUV market).
I actually think the FED can probably then 'unwind' by gifting (along with the associated debt) an SUV, on birth, to every child born in America.
Of course, the child will then borrow (to live) a couple hundred thousand student loan through the education years. So when they come out of Uni they will have a philosophy degree (heck, maybe even a degree in Kruggers will be mandatory). Then from the age of 25 to 55, then collect food stamps, and live in their SUV. I envisage not trailer parks with trailers, but SUV parks, with these 20 to 40 year old SUVs.
Then when retirement age comes, the oldsters can work part time at McDonalds. I can see that the part time wages will be enough to pay for the SUV to drive from the park to the place of work. And the worker can eat the 'donalds that is the 'over two hours old' throw away. And they can even have electricity to watch a bit of TV after they have driven home to the SUV Park. Wall Street has a name for this end process for the masses.... NIRVANA
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The banksters cannot help themselves..or perhaps its just human nature exposing itself
Certainly no sense of learning from past mistakes, and you know what they call a person or company (etc) which does not learn from the past...but that's stating the obvious?
interesting note on the sub-prime car loans..
http://www.ft.com/cms/s/0/a1288490-0594-11e5-bb7d-00144feabdc0.html#axzz3kI0ZOfNg