>I have a feeling that in a few years people are going to

He meant that in times of economic hardship, people try to find a scapegoat. Immigrants are an easy target. But in this case the line makes no sense, because when the economy tanked everyone (correctly) blamed Wall Street.

>>82275633
I forgot: Who couldn't pay their mortgage?

That was the worst fucking line in a film full of them

I visibly and un-ironically cringed

Turned the film off not long after

>>82275633
>Blaming immigrants and poor people.
What? In what fantasy world to liberals live in where Miguel and his taco stand are blamed for the financial crisis?

Being responsible for their own well-being, sure, but I've never heard someone claim that poor people caused banks to cheat.

>>82276289
/thread

>>82276321
Who couldn't pay their mortgage because predatory lenders who knew better took advantage of their ignorance and convinced them that they could afford their mortgage.

>>82277956
EY YO WE DINDU NUFFIN, MATH BE RAYCIS NIGGA WE CAN'T DO NO MATHS DAT SHIT BE RAYCIS

>>82277956
>took advantage of their ignorance and convinced them that they could afford their mortgage.
Whose fault is this? Scorpion and the frog motherfucker. They shouldn't have taken loans they knew they couldn't pay back.

>>82276488
>Jews

>>82276488
Have you never heard people complaining about cheap immigrant labor taking away jobs you mongoloid?

>>82276488
They don't tend to have long term memories lasting more than a year

>>82278088
>Have you never heard people complaining about cheap immigrant labor taking away jobs you mongoloid?
They did in many cases.

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>>82278088
>taking away jobs
>the same as causing the 2008 financial crisis
Liberal reading comprehension

>>82278134
You just said "a financial crises", of which there have been many, not specifically the 2008 financial crises.

>conservitards in charge of writing a coherant sentence


And I guerentee that there are people who assert that the loss of jobs due to immigrants had an effect.

>>82278276
>>conservitards in charge of writing a coherant sentence
>coherant
>guerentee

>>>guerentee
lol you didn't even try with that one dude

>>82275633
Well, yeah, because they're the ones who took out the damn loans. I also blame the government for making it possible.

>>82276289
Yeah, but this movie wants to gaslight you.

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>>82278276
>thread about a movie about the 2008 financial crisis aka the biggest and most important financial crisis since the Great Depression
>hurr you didn't specify

>>82276488
>In what fantasy world to liberals live in where Miguel and his taco stand are blamed for the financial crisis
There are people doing it in this threat you retard

>>82276289
I've seen plenty of people blaming the government for forcing the banks to offer loans to poor people and immigrants. Both on /tv/ and irl.

>>82278599
didn't Trump get sued for not renting apartments to people with bad credit in the 70s?

>>82278599
Yeah, this.

People blamed the right person: obummer

>I have a feeling that in a few years people are going to be doing what they always do when the economy tanks. Blaming immigrants and poor people instead of kikes.

whoa there adam mckay

>>82278012
Whats that got to do with the banks selling sub prime mortgages as AAA and coercing the ratings agency to go along with it.

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>>82277956
>Alright Tyrone, here's this giant fucking house, you just have to pay small amounts later
>SHEEEEEIT MAN DAS A BIG HOUSE MANE *smacks lips* MY GIRL FINNA GET A LICK ON A HOUSE LIKE THIS MANE
>Alright so just sign here

>>82278638
Uh, obviously it had nothing to do with their bad credit, it was because they were POC. Uh, Racist and Sexist much!?!?!

>>82278744
Read the fine print of your mortgage application.

>>82278377
>this movie wants to gaslight you.
You have no idea what that means do you? You read it in some blog somewhere and inferred incorrectly what it means. Now you're here, on /tv/ showing your ass.

>>82278809
>triggered

>>82278809
It means that it shines a light on something previously not known, thereby exposing you to something you didn't know existed. Therefore this movie gaslights you.

>>82278704
Man that was a terrible nickname.

>>82278809
A lot of nucomers have adopted words from the SJW vocabulary thinking they had some merit. What's worse, they've been using them incorrectly.

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BIG TIIIIIIIIME

I'M ON MY WAY I'M MAKING IT

He meant that the movie would make people hate the Jews, and so they had to say this boilerplate libshit crap in order for Shekelstein to approve the script.

>>82278879
AND MAH HEAVEN WILL BE A BIG HEAVEN! AND I WILL WALK THROUGH THE FRONT DOOR!

>>82278599

Yeah apparently a poor person with shit planning and foresight is more blameworthy than banks with 100% visibility of what they were doing and on what scale.

>>82275633
It's funny because the movie made it very clear that it's immigrants and poor people who defaulted on their mortgages, triggering the collapse.

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>>82276289
Cept the republicans in congress all blamed muh fannie and freddie, and didn't do shit to stop wall street.

Then Obama came in an appointed Eric Holder like a bitch.

>>82278788
So you can't answer the question why banks, instead of making slightly less money decided to perpetrate a practice that almost collapsed the world economy.
Either through negligence or malice, jewery, plain and simple, was the root cause.

>>82278788
For christ's sake I learned about interest and loans in like the 4th grade. That and asking my parents a few questions about loans for houses and cars and such literally gave me everything I needed to know about that shit, even credit cards.

Regardless of who you believe to be at fault, how fucking idiotic do you have to be to sign on the dotted line for something a 4th grader could tell you you would never be able to manage?

>>82276289

Modern immigrants are an easy target because they are OBJECTIVELY HARMFUL to the natives.

>>82278973
I see a lot of lack of personal responsibility coming from your post.

>>82278989
Many of these people just wanted a house. They knew they couldn't pay it.

>moved in a to new apartment
>renting, not even buying
>real estate agency are the kikest kikes that ever kiked
>oven doesn't even work
It's the agencies' fault, ALWAYS. FUCK EM, I'm going to bring them down all by myself

>>82278989
>how fucking idiotic do you have to be to sign on the dotted line for something a 4th grader could tell you you would never be able to manage?

A lot of people were flipping houses and got stuck when the bubble burst.

>>82278865
>It means that it shines a light on something previously not known
Lol no. Not even close.
Gaslighting someone means an intentional plot to convince someone they are crazy or remembering things wrong.
It's a fucking film reference for christ's sake.

>>82279077
>>oven doesn't even work
You didn't check the appliances before you moved in?

>>82276321
I forgot: Who needed a $700 billion dollar government bailout?

Both the lenders and the borrowers were irresponsible, but the lenders were irresponsible on a much larger scale. Blaming financially retarded people for being financially retarded is pointless. The banks needed to be the ones telling people "no."

>>82278952
>banks with 100% visibility
Is that why they forced ratings agencies to give these CDOs much higher ratings than they deserved? Did the poor people do that?

The big short was a really wasted opportunity to explain some of the weapon's grade existential crisis fuel of just-before-housing-crisis USA.

I was living in a just about dirt poor area, were people could barely afford to mow their lawns, but all the houses were mcmansions, and just down the street they were dumping tens of millions into a "newest stop on the PGA tour" style 18 hole golf course and country club community. When the recession hit, they'd had yet to finish any new houses and the golf course was 99% finished, but all the credit was frozen. So they couldn't continue building. They couldn't sell. And they could only afford to pay one groundskeeper to maintain upteen fucking acres of slowly dying golf grass. The area is now on the same level as abandoned malls of ubran exploration. You can still tell there should've been a golf course there, and there's still all the crap a PGA course would have, full bathrooms, concrete golfcart roads, etc, all hidden behind overgrown weeds and slowly rotting among a bunch of half-finished structures and shit.

But all the big short had of this shit was one cholo renting a mcmansion (and they of course fail to establish hes renting) and oh god he had leaves in his pool!

http://uk.reuters.com/article/uk-usa-trump-banks-idUKKBN17X223

>>82279151
Nah nigga I ain't got time. Plus I was expecting this shit to build my case
>oven was listed as working fine on the contract
Abraham fucked up for the last time

>>82279194
>and they of course fail to establish hes renting
He's told several times "You should talk to your landlord."

>>82278952
>poor people should get a handicap in life because they are stupid and can't learn finances
>meanwhile evil bankers should be taken down a peg for just doing their jobs and getting people to take out loans!

With your logic, can I blame hot waitresses when I have less money at the end of the month because they got me to tip them a lot or buy more drinks because of their good looks and charm? Fuck off, cuck.

>>82279164
>Who needed a $700 billion dollar government bailout?
Yeah and they shouldn't have gotten it but Obama had such a hard-on for getting his ACA pushed forward that he bailed out the banks like a fucking idiot.

I'll blame retarded people for being retarded as much as I want. Personal responsibility is a thing.

>>82279253
>I ain't got time.
You don't have twenty minutes?

>>82279316
No, are you on my team or what?

>>82279253
Anon you sign a walk through agreement in the first month where you're supposed to list all the shit that was broken so they can A) fix it and B) not hold you responsible.

>>82278952
banks were (literally) selling, to poor people, subprime mortgages as "adjustable rate mortgages" with lines like "the monthly payments adjust to your lifestyle!" They'd fat-finger the idea that if life shit on them, as life had shit on them a thousand times before, and they were suddenly not making any money, they'd be okay and wouldn't lose their house. The reality is the minimum payments on adjustable rate (subprime) mortgages just arbitrarily increased after ten years. They'd sign these poor as fuck people in dead in jobs into loans where the sub-prime rate was literally all they could ever afford, then when the rates spiked, they were fucked. But the banks didn't care, the guys selling the loans didn't care, the FTC didn't care, no one fucking cared.

Then just before the recession hit, there were financial reports dropping that put the average income in the US at 100k a year. Source: value of housing loans. Then after the market collapsed everyone was like "OH GOD NO ONE COULD HAVE EVER KNOWN THIS WOULD HAPPEN"

>>82279346
>>82279340
>>82279316
lol you are gonna get hosed by your landlord

at least get make sure you leave the place spotless when you move out and take pictures of EVERYTHING because they WILL try to bleed money for "damage" out of you

>>82276488

How much of a talking point was Wall Street during the last election? People like Bernie talked about it a lot

What was Trump going on about though? The wall. Immigration. Stopping the refugees.

When the one thing that objectively made things worse in the country was Wall Street dickery.

Who got elected

>>82279346
I know, tomorrow's going down

>>82276488
>I didn't listen to the financial news in 2008-9
People in this thread are literally doing it. kek.

>>82279175

I think you misread my post

>>82279282

Analogies are for retards who can't have a serious debate. Everyone is having a discussion and you can't keep up so you spew that meaningless tripe. Get that neo-con dick out of your ass.

Things like this wouldn't happen as often if high schools actually taught personal finance as opposed to useless bullshit like "the mitochondria is the powerhouse of the cell"

>>82279451
>Analogies are for retards who can't have a serious debate. Everyone is having a discussion and you can't keep up so you spew that meaningless tripe. Get that neo-con dick out of your ass.

So, you're going to go with an ad hom and not answer me properly?

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>>82279282
You can't regulate the actions of stupid individuals making poor life decisions.

You can regulate the actions of stupid corrupt banks preying on stupid individuals.

Not that difficult of a concept m8.

>>82279472
But how will the goyi- I mean "citizens" rack up thousands in credit card debt at 27% interest if they're taught about personal finance? Are you literally trying to re-enact the shoah, kill another 6 billion of G-d's chosen?

>>82279106
And how is that not what this movie's doing? We remember that everyone blamed Wall Street, but this movie says you're misremembering and that everyone actually blamed immigrants and poor people.

>>82275633
What's the name of the political position where you hate both the fat cats on Wall Street and the nigger and spic scum?

>>82279442
>implying all of those things didn't make things worse

>>82279414
FURTHERMORE

the fact these poor as fuck people could afford to stay up to date on their subprime mortgage payments sent their credit ratings through the fucking roof, as on paper they had hundreds of thousands of worth to their name and a strong history of making payments. So other financiers were shoveling no-limit credit lines at them.

The entire situation was fucked on every level with all institutions acting in a completely predatory manner.

>>82279570
Trump

>>82279442
This. Are we forgetting that Clinton spoke at financial conferences and literally stated that everybody places too much blame on bankers and wall street?


Bernie was the only one who mentioned it.

>>82279498
He can't actually come up with arguments because he has no idea what he's talking about and is just regurgitating memes.
Do you really expect basement dwelling fa/tv/irgins to know the first thing about economics?

>>82279548
>You can't regulate the actions of stupid individuals making poor life decisions.

That seems like a self-regulating problem to me. Just le take le safety labels off everything. le.

>>82279548
>you can't stop stupid people from being stupid, but you can stop smart people from being smart

Right, and that's called communism... throwing everyone into the mud instead of only letting those who deserve to stay there wallow. Then it's all too easy for the upper elite to rule.

Fuck. Off. Cuck.

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>>82279593

Anon said hating fat cats on wall street not hiring them

>>82276369
How does one ironically cringe?

>>82279498

We are talking about something real and you bring up something that's not real. There is nothing to address. Your waitress analogy has nothing to do with banking regulation, credit reporting, or toxic assets.

In fact it is you who failed to address any of my points.

Poor people = don't even have foresight into their personal welfare
Investment firms and banks = Know exactly what they're doing

>>82277956

You know, my mother went to buy a house during the whole boom thing, so she went shopping for a mortgage, and they approved her for a ridiculous amount of money, over a hundred thousand dollars more than she was expecting. The payments were obviously going to be way more than she could afford before long, so she took a smaller loan and got a smaller house.

She was totally fine after the crash, but all the people who did take those crappy loans then got to whine and whine to the government who'd wring their hands and try and figure out a way to let them not lose their homes, and so on and so forth. There's tons of blame to go around, and most people's hatred was directed at Wall Street and then the government, but the idea that people are these innocent victims is ludicrous. It's like payday loans, or those people who get "tricked" by the fact that student loans will give them a whole bunch of cash, so they party for four years and then wonder why they have $200,000 of debt for a BA and blame the system for tricking them.

>>82279570
Bernie-ism

That--what?

Poor people are why the economy tanks? I've literally never heard anyone say this.

>>82276289
the line made plenty of sense, the next president was elected on an anti immigrant platform

>>82279667
But Bernie loves niggers and spics, and kikes too (considering he is one).

>>82279609
As someone who was treated as a large hunk of meat dangling in the middle of a pack of hungry wolves by clearly predatory financial institutions, that's an utterly ridiculous claim.

Banks were selling subprime loans as "YOUR LUCKY DAY!" Like winning the lottery without buying a ticket.

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>>82279618
That's fine. Until they take out a bunch of mortgages they can't afford and sink they economy.

>>82279632
>If you want to regulate Wall Street you're a communist!

Mkkkay corporate bootlicker.

>>82279658
>Investment firms and banks = Know exactly what they're doing

So why the fuck did they screw themselves over? Tons of bankers killed themselves because of the 2008 recession. Was it their plan all along to crash the economy with no survivors? Why? Explain why, cuckboi.

>>82279615

Oh the fucking irony. You kike shills are still spouting that republican dad politics.

WELL I WOULDNA DUN IT SO FUCK EM

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>We need to add a line to make this movie about gleeful investors who short the market look heroic
Gotcha covered senpai

>>82279709
Before the 00's, banks were more careful about who they'd drop half a million on.

>>82279709
Oh god, so you're a lolbertarian, huh?

So tell me, what are you going to do about the plight of the everyman when your libertarian anarchy bullshit is the norm? How is a society where individual freedom is the god going to work in the favor of stupid poor people? They're all going to become indentured slaves... kind of like how communism works.

Wow, I guess libertarianism and communism are... pretty much the same thing, huh!

>>82279743
Before 2000, we had glass steagall

>>82279715
Not that anon, but each individual part of the problem knew what they were doing, but were relying on everyone else to not be as short sighted and corrupt.

Also most of the people at the top didn't realize the extent of how fucked they were. They knew what they were doing was fucking people over, but almost no one thought property would stall. Hence the movie...

>>82275633
He's not wrong about the poor people bit. People genuinely did try to argue that it was irresponsible poor people that should have known better.

>>82278966
>I buy what hollywood movies sell me
go look up how loans get rated and who controls that

then kill yourself

>>82279762
You're so insightful. We should hang out together in the common room and talk about apartheid.

>>82275633

>liberals don't like wallstreet because wallstreet tanked the economy in 2008
>therefore I must support these wallstreet banks to align myself against liberals

Every fucking time.

>stupid people getting tricked into bad loans
both parties are to blame, but only one had to pay for it.

>>82279164


Obama payed off bankers with over half a trillion dollars of tax payer money hahahahaha

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>>82279743
Yeah? Although the msb started in the 80's they didn't start getting crazy till early to mid 00's. Also Bush admin was cutting regulations like crazy and pushing housing down everyone's throats.

>>82279762
No? Libertarian is a fucking joke. They don't want to regulate anything? What did I say that would even give you that idea?

>>82279790
There was nothing about what I posted even in the movie dumb dumb.

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>>82276289
https://www.youtube.com/watch?v=UGL-Ex1CD1c

>>82279164
>The banks needed to be the ones telling people "no."
The government wouldn't let them.

>>82279790
>go look up how loans get rated and who controls that
It's the jews isn't it? I bet it's the jews. It's got to be the jews.

>>82279871
the individual is responsible on a personal level but nothing more, paco defaulting on his mortgage didnt collapse the banks, the banks giving it away on a huge scale did

>>82279785

Kind of this. The whole crash story is a great example. From nearly everyone's perspective, this was all good. Everyone was getting rich, home ownership was going up, no complaints. If you look at it from any individual's perspective, it doesn't look too bad, and, seriously, who doesn't pay their mortgage?? What could possibly go wrong?

Personally, I think real estate in general is going to implode sooner or later. We had a big hullabaloo here a while ago where some company wanted to build lots of new affordable housing, and the residents nearby came out in droves to stop it, because affordable housing in the area is a direct attack on their net worth. Housing must always become more valuable, they say, but already it's too expensive for most people to live in a lot of cities, and it's just going to get worse.

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>>82279988

>>82279685
Barack Obama was elected on an anti-immigrant platform?

>>82279690
He doesn't suck Wall St or Israel dick, and identified his father as a Polish immigrant instead of a Jewish one. A lot less Kosher than Trump

>>82279988
Wrong. It was investment firms selling subprime and Alt-A mortgages as AAA rated FNMA/FHLMC conforming mortgages.

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>>82278775

>>82280040
Where do you think investment firms were getting the mortgages to bundle and sell?

>>82280080
Banks were disclosing to investors what they were selling. It was those on the secondary market that misrepresented themselves.

>>82280080
Banks were happy to sell them. It's a hard cash deal up front rather than making back a tiny ammount over the life of the mortgage.
It's like the movie do the right thing. Shit got bad because everyone was acting like a selfish stupid shithead.

>>82280157
Yep.
>>82280123
The investors didn't give a shit regardless because they were all buying insurance/pawning them off to someone else anyways.

>>82280199
True, but the ratings agencies were also to blame because they simply would review the first few cherry-picked half dozen loans in an investment pool of hundreds or thousands. One of the few things the movie gets right is when the woman from the rating agency basically says if she doesn't rubber stamp them, they'll lose their business.

>>82280255
Totally. Everyone is to blame. Wide-scale fuck ups/change like this doesn't happen because of a few actors acting in bad faith. The movie was trying to simply a complex web of finance in a way that people could understand it.

>>82279570

fascism or national socialism

>>82280377
>lenders review actuarial tables and determine appropriate debt-to-income ratios, employment history and credit requirements
>Niggers claim banks are redlining and adversely denying loans that would be made to their white counterparts
>Credit restrictions are up so that a non-permanent resident alien with a temporary tax-id number and a department store credit card with a high balance of $100 and 24 months payment history can get a mortgage up to $400k with no income verification
The banks can't win.

>>82278994
>to the natives.

who might that be?

>>82280612
White settlers that brought civilization to the Western Hemisphere over 400 years ago.

>>82279442

>How much of a talking point was Wall Street during the last election?

It was the entire basis of the election. Globalism = international finance = wall street.

>>82280733
wrong. it was really just about memes

>>82280733
I think globalism while a pretty big talking point for a lot of people was just a smaller part of the general establishment vs anti establishment. That you saw with both parties.

>>82280733
>implying Trump was in any way an anti-globalist

>>82280888
he said he was which was the point

>>82278994
No they aren't, the natives own lack of foresight when delineating their welfare policies is harmful to the natives. The immigrants themselves are neither breaking the law in their use of welfare services nor responsible for their implementation as they are disenfranchised and they have no weight in lawmaking.

>>82280566
I don't know, getting rich off of swindling ignorant people and then getting trillions of dollars in bailout money seems like winning. The Executives who got bonuses after the bailout didn't seem like they were having that much of a tough time

>>82279637
ok. national socialism

>>82276289
The public's stance has shifted toward demonizing the poor and actively seeking to punish immigrants for merely existing within a certain space. All this despite the fact that both groups have no real political power. I think the line was quite prophetic.

>>82281820
Respecting people and infantilizing them are two separate things. Why would any able-bodied and sound-minded adult sign a contract they know they can't fulfill?

>>82276369
>Turned the film off not long after
This was one of if not the last line of the film.

>>82281890
>I think the line was quite prophetic.
I think you are not a student of history.

>>82276289
wall street did try to blame immigrants and poor people though. Just no one bought that.

>>82281914
>Why would any able-bodied and sound-minded adult sign a contract they know they can't fulfill?
Money and irresponsibility.

>>82281941
nah, they said it several times, once early in the film..

>>82282001
Did they? Guess I need to rewatch it and add another hit for it on Netflix.

>>82281914
>sign a contract they know they can't fulfill?
They probably didn't "know", with the banks practically advertising these loans as if it were no biggie to pay for. Don't know what respect or infantilization have to do with anything.

>>82282001
I don't recall them saying it at any point other than the end.

>>82281944
I think you are a faggot.

I think he meant we should start blaming immigrants and poor people for more things because it apparently works

>>82282138
Whoa hey that's hate speech!

>>82281914
Because the bold print giveth, the fine print taketh away, in the most obfuscated language possible.

This was one of the common complaints about predatory financial institutions at the time. The fine print was practically impenetrable gibberish to anyone but a lawyer, but lawyers weren't required to sign a

I... think some manner of regulation came into effect or some civil suit made it to court and the ruling was against creditors that blocked the practice of having the fine print subtly contradict the bold text, as credit agreements these days are actually written in understandable-to-the-layman language, with the real interest rates and negatives of the agreement in large, more-than-a-single-point text. But that shit is a very new development and before the bubble burst, credit agreements could've had you selling your soul to satan and no one but a team a lawyers would be able to figure that out.

>>82279920
Why are """""Libertarians""""" so autistic?

>>82282138
I have a furnace filled with faggots any given day.

>>82282244
>signing a complex contract without reviewing it with an attorney
Can you just give me your account and routing number please? Because you seem that stupid.

>>82282432
>you
...

Financial institutions were specifically targeting poor people.

>>82282432
You're right. Only stupid people would fall for it. And if a few people get fucked for it what harm can it do to the rest of us?

Oh wait.

>>82281890
Immigrants have a huge amount of power in the US and essentially dictate the Dems entire platform in concern to immigration ie non enforcement of almost all existing immigration laws

>>82282480
So you're saying that poor people are stupid?

>>82279414
>i don't know what subprime means the post.
subprime was a grading applied post the issuing of the mortgage banks were offering NINJA loans and other tricky loans package them as mortgage backed securities with prime better loans ie more likely to be paid off. an adjustable rate mortgage is just that and can be given to literally anyone regardless of assets, etc. literally watch the movie they cover it in very simple terms. The whole predatory lender thing is a joke no bank actually wants to seize assets over issuing a loan they can't pay its just that for a while enough people with NINJA loans could pay them off. The short version is that the banks and the government worked to issue loans to people who simply couldn't repay them and the entire economy went tits up because of it Poor people were just seen as suckers who would pay way more for a mortgage than they should. FYI your interest rates are still probably too high.

>>82282605
Honestly, until about the middle of 2007, a borrower could contact the lender and they'd have a realtor help the borrower flip it (typically for a profit) before (or sometimes ignoring) significant delinquencies.

Certain lenders were known to not present accurate mortgage payment histories to each other, to the point where in 2007-2008 they started demanding 12 months of corresponding bank statements. It wasn't in the bank's interest for customers to default.

>>82282605
also to expand the Banks were paying a game of probability the issue was as more people defaulted it affected the economy more and more making it more and more difficult for the rest of the those subprime loans to be paid off. The whole thing cascaded because rating agencies were giving these mortgage backed securities top ratings and literally everyone owned one in their pension IRA etc.

>>82282671
looking back on the whole thing is so fucked up.
my uncle was working with government agencies to help poor people secure loans he said if the government was actually good at that the crisis would have been a lot worse.

>>82282756
You should have seen the "Acorn" loan programs Bank of America had in Chicago. I've seen the fraud first hand, and millions of taxpayer dollars were robbed by niggers who had absolutely no capacity to repay and no pride of ownership in the residencies or neighborhoods.

it was a good movie but they had to throw some sjw bullshit in there somewhere

>>82282533
I'm saying they were selling false hope to the hopeless for profit.

>>82282857
It's so gross that you actually said that.

>>82282605
>subprime was a grading applied post the issuing

Utter bullshit. Banks were actively advertising shit like "get approved for a subprime loan now!" then it'd cut to some nigger explaining that "subprime" meant "you're going places, live in those places now!"

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>>82275633
well some immigrants are total shit

>>82282804
it doesn't even make sense nobody to even a tiny bit about the situation wouldn't be like fuck those niggers and spics for tanking the housing market it was the government, the banks, and the rating agencies that fucked everything up so bad.

>>82282511
Then why is there still no amnesty despite numerous Dem controlled congresses and presidencies? Why has there not only not been any amnesty but not the slightest shift in immigration policy? Something easily sneaked into any bill or series of bills to make immigration easier.

Despite their "huge amount of power" It seems like what you take a "dictating of terms" is really more a case of virtue signalling and feelgoodism than actually listening to the immigrant community.

>>82282918
Its what was happening. How else could it be put?

>>82282941
i mean the loan officer would know it was subprime until they were ready to issue the loan.

>>82282511
>Immigrants have a huge amount of power in the US
Maybe some of the richer, more well-connected immigrants. The vast majority do not. The illegal ones and their families are probably amongst the most precarious situation, because if they try to organize or demand higher wages, their boss will just hand them over to the authorities and move on to the next batch of willing illegal immigrants to be the company's serfs. The only immigrant/ethnic communities that have a disproportionate amount of influence are the Cubans and the Jews with regard to our policies toward Cuba and Israel/Middle East, though I wouldn't say any is a monolithic political bloc. Most of the Cuban influence is from former plantation owners, casino owners and mobsters from the Bautista days who got kicked out by Castro and want to return back to how things were before. Not to mention how much Americans already hate communists like Castro for messing up their business. And the Zionists are heavily supported by Evangelical Christians. So both of those lobbies are both well-connected and have public support from outside their own communities

>>82282996
You're acting like the term wasn't in common usage before the housing crisis. Which means you're ten years too young to really have any idea what you're talking about.

Banks and creditors were actively advertising easy approval for subprime loans.

>>82282996
One aspect is a function of rate, the other is an aspect of qualification/risk.

>>82282955
see:
>>82281799
Literally a non-point.

If the US made it possible for people without ID's, US Birth certificates, SSN's or even residency then the argument should be more in favor of reforming the welfare system rather than punishing the legal recipients of poorly thought out programs. Not punishing them for legally using the poorly thought out program.

>>82282955
Muh welfare doesn't crash the economy, no matter how much you think so

Why did he unironically talk like prison mike the whole movie? It was very distracting.

>>82283148
b-but muh public goods game!

>>82283085
>>82283148
some immigrants are total shit

sorry if that offends you

>>82275633
Steve Carell, graduate of the Orson Welles school of fake-nose acting.

>>82283326
some immigrants aren't total shit

sorry if that offends you

>>82283399
clearly, some sending regions are great (europe, asia)

>>82282964
and they had the benefit of hindsight and still put it in the movie

>>82283532
You mean the hindsight of banks, wallstreet, and the government legitimately trying to sell the idea it wasn't their fault?

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>>82283399
not at all

i am very aware of which immigrants are good for the country and which are not

illegals are also not good

they are like the worst of already bad countries

>>82283570
which literally nobody bought

>>82283720
What is your point at the end of all this? YOu can post images of stats all day long, but you're gonna need more context than that before you can reasonably advocate for a policy

>>82283777
Tea Partiers sure seemed to buy it to me, especially since alot of them thought the problem was that there were too many regulations, not enough. And when the Occupy Wall Street protests started happening, instead of getting involved in pressuring the government everyone started bitching at them for even trying to do anything about Wall Street getting a slap on the wrist. And that was before they started up the SJWs to infiltrate and destroy it from the inside.

>>82282533
Well, duh.

>>82282955
>immigrant headed households using one or more welfare programs
That's some loaded language your graph is using.

So if they have a US citizen as a child and he gets diaper and formula coupons from the state they're thrown into this statistic as -*proof*- of how all immigrants come here and leech off the system?

Despite the law working exactly as intended and benefiting a US citizen?

Furthermore lets assume this isn't the case and they're all on full blown unemployment and food stamps. You want to demonize them for using a system that allows them access to it? How does that make sense? You are literally getting angry at them for doing nothing wrong and simply for using systems you would probably rather not exist in the first place. How does that make any sense?

>>82283532
The movie was about the three "big shorts," literally the only people with foresight in the situation.

>>82284312
are you having trouble following the conversation

Economic facts:

Immigration benefits the economy (with some possible short term lowering of wages in a few sectors).

Breaking up the banks wouldn't have done anything to stop or limit the 2008 recession.

There isn't a fixed amount of jobs for native workers and immigrants to compete for.

Tariffs are stupid. Aside from rare cases of dumping and critical industries.

Enacting austerity during a recession is retarded.

Automation has caused far more manufacturing job losses than work being outsourced to China or Mexico.

More retail jobs were created in one month than there are coal workers in the US.

>>82284464
stop conflating immigrants and illegal immigrants

>>82284558
Either way many of the points were irrelevant of the distinction.

>>82284558

Illegal or legal, both are fine. https://www.nber.org/papers/w19932

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>>82284464
>retail jobs

>>82284558
Only two points were about immigration and both were true for either group.

>>82284464
>Automation has caused far more manufacturing job losses than work being outsourced to China or Mexico.

ayy lmao. you don't know shit about the manufacturing industry.

the talent pool for manufacturing is ankle deep right now faggot. the problem is nobody wants to learn algebra so they can do simple CNC programming.

>>82282982
>Then why is there still no amnesty despite numerous Dem controlled congresses...?

We have defacto amnesty by people overstaying their allotted visa length and making anchor babies and ICE being cucked from doing their job.

That's changing now though, although only a little so far

>>82283085

https://en.wikipedia.org/wiki/California_Proposition_187

California tried to stop it but (((judges))) forced them to give their entire state over to criminal invaders.

>>82284801
>We have defacto amnesty by...

That isn't at all like amnesty.

>>82275633
"fuck Donald Trump and fuck white people"

>>82284817
My point still stands, you're punishing the recipients of the benefits when they're not actually doing anything wrong, like, AT ALL, by using those benefits. The fault is in the system not in the recipients.

>>82284794

Economic illiteracy. Put simply as you seem to need it: We produce more goods with fewer manufacturing workers. A few more knowing algebra and being able to produce more using technology more effectively won't create more manufacturing jobs in total.

https://www.nber.org/papers/w23285.pdf

>>82279288
>forgetting Bush 2 signed off on the bailout

It was the only thing Bush 2 ever did right in my opinion. I'd rather try to keep the status quo than watch everything burn in flames, I'm not an edgy contrarian teen. What I disliked about it was that the government didn't put more stipulations and regulations on those being bailed out.

>>82275633
Poor people are a parasite keeping everyone down.

>>82284841
How? Because no one written it into law yet?

Letting people get away with crimes is unofficial amnesty.

>>82281890
>both groups have no real political power
kek, what? you really believe the "le ebil white men" meme? why the fuck do you think leftist retards got elected in droves across the country the past 8 years? they were promised free money, do you know how big of an impact poor people and immigrants had on prior elections? or are you just burping up rehearsed talking points

>>82282982
>what are sanctuary cities, anchor babies, and almost no enforcement on overstayed visas

>>82284979
>How?
Because it doesn't apply to all illegals. It's like saying marrying a citizen also is a form of amnesty, or exiting and re-entering the country legally is a form of amnesty. Amnesty is amnesty, if you call every legal loophole amnesty then you might as well toss out the fucking word entirely and use anything else as a fucking substitute you argumentative little cunt.

not that anon btw.

>>82284464
Part 1
>Economic facts
I wouldn't say facts. There are costs and benefits to whatever you do.
>Immigration benefits the economy (with some possible short term lowering of wages in a few sectors).
This is much too vague. Just saying it benefits the economy doesn't explain how, why and who it helps
>Breaking up the banks wouldn't have done anything to stop or limit the 2008 recession.
I agree with it not being able to stop the recession, but I'm not sure about it not limiting the it. The way I see it, for a banking system to workable, it either has to be highly competitive or completely under government control. Most Americans don't like the idea of a National Bank, so breaking them up would make them more competitive, and likely more impartial in how they deal business. That wouldn't exactly fix the problem either as you'd also need stronger, uniform regulations, amongst many other reforms, but I think breaking them up would help
>There isn't a fixed amount of jobs for native workers and immigrants to compete for.
Personally I think the economy has already gone global. For the big companies, if they can't hire cheap illegal labor here, they'll just outsource it. That's been the case since at least the 80s. Illegal immigrants just make it harder to organize labour here, since they're in such a state of precariousness that they have to take the lower wages or its deportation time. Eventually the global labour market will even out.

>>82284464
>>82285117
Part 2
>Tariffs are stupid. Aside from rare cases of dumping and critical industries.
Partially disagree. Tariffs are smart if you're an undeveloped or developing country and you're trying to build up your industry. For a first-world country that's already developed, then yes its not the ideal course of action.
>Enacting austerity during a recession is retarded.
Agree
>Automation has caused far more manufacturing job losses than work being outsourced to China or Mexico.
Also, heavily agree, That's the biggest problem and no one's talking about it.
>More retail jobs were created in one month than there are coal workers in the US.
Agree

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>>82285117
>I wouldn't say facts.

>>82285117
>>82285158
>>82285103
>>82285102
>>82284993
>>82284979
>>82284974
>>82284940
>>82284933
>>82284920

Stop procrastinating and get back to work, no one cares what you think and everyone here has already made up their minds over the course of watching a bunch of retarded youtubers whose opinions inexplicably carry weight despite their entire lack of credentials or public recognition in a field of study or discipline.

You will not change anyones mind, not the person you're arguing with and not anyone reading your shit.

Get back to work faggot.

>>82284464
>Immigration benefits the economy (with some possible short term lowering of wages in a few sectors)

Does it benefit those who are already in that economy?

>Enacting austerity during a recession is retarded.
It is reasonable when the recession was caused by inordinate spending.

>>82285341
>no one cares what you think
I do.

>>82285377
Well I don't

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>>82275633
>YFW THEY SHOT THIS SCENE ON THE ROOFGARDEN OF YOUR BUILDING

>>82276321
LITERALLY THIS, PAY DENBTS DEADBEATS

>>82285377
>>82285401
YOU'RE TEARING ME APART, ANONYMOUS!

>>82285341
It's 8pm here in california and 11pm on the east coast. Also, all of those posts aren't from the same person. They don't have the same grammar nor sentence structure.

Good Movie

>>82285117
>>82285158

These are stylized facts. They have broad consensus in the economic profession. A good source would be to glance over the IGM panel for instance. Of course there are minor caveats, but those would go into a paper, rather than one-liners on 4chan.

Immigrants benefit the economy broadly, broadening the tax base, raising wages, employment levels and so on. They're very rarely a drain anywhere. It's specific cases.

There's no evidence that smaller banks would be better. People might like them, if so set one up and you'll surely get people's revealed preferences. I'm betting they'd stay with the big boys.

Yes the economy has gone global. This doesn't stop what is known as the lump of labor fallacy from being stupid. Illegal migrants don't lower wages for natives either.

Your tariffs point is the infant industry argument, it's not accepted by most economists.

>>82285344

Yes it does, immigration is shown to raise wages and lower the unemployment rate. The effects are rather minimal in general. https://www.nber.org/papers/w14188

Nope, cutting in a recession is plain retarded. You will want to limit spending and get the debt back down once the economy picks up, but never during the actual recession.

https://www.nber.org/papers/w23147

>>82284993
>le ebil white men
No one said anything about race or gender before you. Immigrant and poor people could easily be white and male
>why the fuck do you think leftist retards got elected in droves across the country the past 8 years
They didn't. In fact we've been seeing the growing rise of the right in electoral politics for the past 6 years
>big of an impact poor people and immigrants had on prior elections
It's a far, far smaller impact than you think.

http://www.people-press.org/2015/01/08/the-politics-of-financial-insecurity-a-democratic-tilt-undercut-by-low-participation/

http://www.migrationpolicy.org/article/immigrant-voting-rights-receive-more-attention/

>People watch this movie and read a few articles from The Economist and think themselves as authorities on economics

Every fucking time

>>82285341
>made up their minds over the course of watching a bunch of retarded youtubers
Speak for yourself. Though you're right that I am procrastinating and should probably get back to work

>>82285521
I don't think he was suggesting they were. Merely that we as anons tend to use the site to have meaningless arguments with each other as a form of escapism. Which is a time honored tradition on this site that I for one will not have a hand in breaking. Therefore I propose the following: Marvel movies are great and anyone that disagrees is a faggot.

>>82285344
>the recession was caused by inordinate spending
Except it wasn't?

>>82285563

waaah mooom people are saying things about economics i don't like or undestand am too dumb to be able to argue against!!!!

>>82285344
>implying illegals are gonna take your middle-class job

And legal ones aren't breaking any laws. If anything, you should take a pay cut to be competitive or work hard so you don't get fired. What the fuck happened to giving 100% to a job? It's american as fuck to be hard-working and work with capitalism, so stfu and work hard.

>>82285650
It's been a trend since this movie came out and I rarely particpate in them. As a former day trader this is great entertainment

>>82285531
>once the economy picks up

How can the economy pick up when it's bleeing money?

>>82285648
In Greece it was.

>>82285627
>I don't think he was suggesting they were.
So referring to 10+ people as "faggot" isn't suggesting they were? Don't samefag this time around.

>>82285531
>They're very rarely a drain anywhere. It's specific cases.
tl; dr shekelberg gets to put some more gold coins in his piggy bank because he gets more cheap labor and everyone else suffers, but since shekelberg gets his shekels the (((economy))) benefits

>>82285691
I'm not American, I like my ethnic homogenity :^)

>>82285531
>broad consensus
You're not gonna convince anyone with just saying its a broad consensus. You have to explain why, how and who it helps

>>82285726

>How can the economy pick up when it's bleeing money?

Uhh...what? How does an economy bleed money? You realize the economy isn't just the budget deficit right?

>In Greece it was.

No it wasn't. They had more problems because of overspending sure. But the austerity imposed upon greece is basically modern example no.1 of why austerity is retarded.

>>82285821

I've posted papers from the NBER to back up certain points. I'm posting really bland and accepted economic things that you'll find in the simplest of textbooks.

Though the reason I've posted them is because many people seem to not know they're economic consensus. Politicians poison the well.

So pretend I linked to Mankiw's Principles of Economics if you want.

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>>82275633
We blamed Obama and Bush. But it all started with Clinton. They took the leash off and like magic you get any loan you want and as many credit cards you want too. But no matter what you borrowed (((they))) will always collect.

>>82285919
>(((consensus)))

yeah sure buddy

just curious, what is the percentage of G-d's chosen among that consensus, around 90%?

>>82284993
>do you know how big of an impact poor people and immigrants had on prior elections?
lmao you can't be fucking serious. Sure Democrats, and maybe even Republicans in certain states, pay lip service to these groups, but they're both corporate shills pandering to their real base: their donor party.
Man this is pretty stupid fucking thread overall. Fucking retards, dude.

>>82279442
>What was Trump going on about though? The wall. Immigration. Stopping the refugees.

And also how Wall Street is a bunch of loan-sharking cocksuckers who have Hillary Clinton in their pockets. You can criticize his actions and appointments as president, but Trump was quite hostile to big Finance while campaigning.

>>82285691
Working hard no longer pays off anymore. The amount of work and the slope of pay have disconnected since the Ronald Reagan era.

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>>82284640
economics isnt a science, and the "experts" are often wrong

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>>82278966
Except those were institutions that gave high risk loans/mortgages to poor candidates desperate for cash they were definitely part of the problem- partisan politics aside.

>>82279788
Who, Sean Hannity? The overwhelming consensus was that banks took advantage of people who could not reasonably be expected to understand the intricacies of finance.

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>>82284464
>its all automation! not outsourcing!
>ford closes a plant
>ford opens a plant in mexico and sells the cars back into the US

>>82286103

99% of economics isn't forecasting and uses empiricism. Especially microeconomic topics such as labor and immigration. Don't embarrass yourself by posting about something you don't know anything about.

>>82286151

You too.

>>82286146
>over 18
>can vote
>can drive
>can start a business
>can do almost anything... fly a plane, work at a nuclear power plant, earn 5 degrees
>not smart enough to buy a house

i guess no one should ever buy a house again

>>82285531
>There's no evidence that smaller banks would be better
The point is that there are no big boys. The smaller they are, the more competition they have to face and the less they can abuse relationships with the government. So either break it up to make it more competitive or just have a national bank with extremely strict regulations and oversight. And again, Americans don't like National Banks
>>82285531
>Yes the economy has gone global. This doesn't stop what is known as the lump of labor fallacy from being stupid. Illegal migrants don't lower wages for natives either.
My whole point about the labour market going global was that there wasn't much that could be done at the national level because of it. And in response to you can't just respond to what I said with claiming fallacies. I was talking primarily about the effect of illegal immigration on the ability to organize labour, which is primarily due to how precarious they're situation is
>infant industry argument, it's not accepted by most economists
There you go again. You just say it's not accepted by most economists. You're not explaining why. I already know tariffs are inefficient and create a deadweight loss, which is why most economists don't like it, but from the perspective of a developing country that wants to have its own industry rather than just have its resources drained out of it, tariffs are beneficial to that country's industry in the long-run.

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>>82286198
lets listen to Paul Krugman

>>82286202
Please, you faggots can't even get laid on account of the joos. Is it really unreasonable to expect you can't even manage your mortgage?

>>82286265
thats a sad story

>>82286087
>Working hard no longer pays off anymore
It was never about how hard you worked. It was always about how scarce the kind of work you did. As time goes on and technology becomes more advanced, this will become more and more apparent

>>82284464
Wow, I didn't know that Thomas Friedman posted on 4chan. Go fuck yourself, Tommy.

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>>82286241
I was just assuming it was a fake article, but yeah, googling the name brings it up in the New York Times.

Economists don't know any more than we do, at least there's that.

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economics is a social science

its not a hard science

and its interesting that almost no economists saw the 2008 crisis coming....

>>82286241
>never listen to Paul Krugman
ftfy

>>82286441
>How Did Economists Get It So Wrong?
>SEPT. 2, 2009

>Last year, everything came apart.

>Few economists saw our current crisis coming

http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html

most seem to be political hacks

>>82286553
Reminds me of that article about oil industry "experts" who were found to be wrong for literally every significant event in the oil industry for like the past 10 years.

These guys really know jack shit, there isn't a person alive who can tell you what the economy is going to do

>>82286415
>its interesting that almost no economists saw the 2008 crisis coming
That's because most modern economists aren't interested in seeing how the dynamics of the economy move it towards new forms through time, but rather compare the current economy with ideal models of the economy. That's why you can see some economists insist that new jobs will eventually emerge for the unemployed in the past even as automation has begun to take over even service sector jobs

>>82286230

Alright I'm just gonna post some links to back myself up, I'll just be repeating myself.

Banks:
>The presence of big banks measured by high market concentration is associated with a positive and significant relationship between bank-level credit growth and aggregate growth of credit or gross domestic product.
https://www.nber.org/papers/w19093
>Rather, the evidence is more consistent with the view that concentrated banking systems tend to have banks that are better diversified or are easier to monitor than banks in less concentrated banking systems.
https://www.nber.org/digest/feb04/w9921.html
https://www.brookings.edu/wp-content/uploads/2016/09/2_sarinsummers.pdf

I don't really buy the arguments around organized labor, even though I support unions. My initial point was about numbers of jobs, I never brought up organized labor to begin with.

Infant industry:

>We find that infant-industry protection often exacerbates the welfare loss associated with these market imperfections.
https://www.nber.org/papers/w2159
>Understanding that infant-industry protection is generally a poor choice is a very important
step toward growth for developing countries.
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.630.4966&rep=rep1&type=pdf

>>82286241
Again, simply showing you don't really understand what economics covers. Paul Krugman writing about trump and future market volatility isn't anything to do with academic economics. Listen to Krugman on trade (that's what his nobel is for), not much else.

>>82286386

lol


Anyway time for me to go to bed lads. I'm glad I was able to spread some basic economic facts to dullards (the one guy who actually seemed to know what a deadweight loss is gets a pass).

>>82286718
only a retard would listen to krugs about anything

he was probably drunk when he made that post

>>82286718
>lol
That's not a denial. You should know that The World is Flat sucked, you heeb son of a bitch.

>>82286657
>research shows smoking will give you cancer
LOL FUCK THOSE EGG-HEAD FAGGOTS IMMA SMOKE 5 PACKS A DAY THEY DON'T KNOW SHIT

>>82286812
https://fivethirtyeight.com/features/the-conventional-wisdom-on-oil-is-always-wrong/

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>>82286718
>krugman says markets will NEVER recover
>bro you are just too stupid to understand what krugman is saying

>>82286812
>comparing real science to economics
WEW

>>82286693
i bet GM wishes their economists saw 2008 coming... then they could have avoided bankruptcy

same with Citi, AIG, many many other companies

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>>82286847
heres another famous social scientist

>>82286988

538 gave trump a ~30% chance of winning, which was better than most and perfectly reasonable he was just in that 30%, popular vote prediction wasn't that far off either

>>82287171
wow he was only 100% wrong

>>82287171
>most social scientists were even worse than Nate Plastic

social sciences btfo

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>>82278011
>>82278012
>>82278764

>hahaha yeah bro just take time out of your day to acquire the knowledge of an intern insurance sales associate
>also make sure to take time to do in depth journalism to find out if these mortgage ratings are fraudulent
>also have a back ground in economics and go through thousands upon thousands of mortgage bonds to see if these are stacked with shit mortgages or not
>then find out when they're going to fail and have an understanding of the economy to realize these will tank the housing market
>after you did all that you'll finally have the knowledge to make a responsible decision regarding what mortgages to purchase so people on vietnamese flare gun boards don't make fun of you when the economy tanks

>also while doing this make sure to continue work a full time job and raise a kid just like a responsible person should and if you spend too much time doing either of the two and the other task is neglected you'll get criticized for not doing them to the best of your ability

Friendly reminder that there are people that think like this.

>>82287630
I see a whole lot of lack of personal responsibility in this post.

>>82286718
>associated with a positive and significant relationship between bank-level credit growth and aggregate growth of credit or gross domestic product.
Why is this good or bad? Who does it hurt or help? You're gonna have to explain how you jump from a statistic to something good for the economy. I know that, in general, unless you're running it as a department of government for the general populace, as much competition as possible between firms is preferable. I know it's not the end all solution. Obviously you need a strong regulatory framework, but the bigger you get the easier it is to poke holes in whatever framework.
>I don't really buy the arguments around organized labor, even though I support unions. My initial point was about numbers of jobs, I never brought up organized labor to begin with.
Yeah, I know that wasn't your original point. I think the labour market is already global, so it doesn't really matter. I was just trying to point out my perspective on what they could affect
We find that infant-industry protection often exacerbates the welfare loss associated with these market imperfections.
>Understanding that infant-industry protection is generally a poor choice is a very important
step toward growth for developing countries.
Skimmed through the paper, and it seems to be focusing on the inefficiencies caused by tariffs. Maybe I missed it, but it doesn't actually show whether or not protectionism will help or hinder growth in industry, just that it leads to inefficiencies. It's also pretty hard to buy, when most of the developed countries went through a protectionist period before developing their industry.

>>82287630
It's pretty simple dude, if you are making 50k a year, you cannot afford to buy a 700k house.

If you need to work more than half your lifetime to pay something off, that means you can't afford it.

Personally, I'm 23 and have almost 100k saved up simply because I realized that the greatest expense is housing, so I chose to live at home and work until I could reasonably afford a place to live, but it's so easy to save money this way I might just save enough to buy a place outright in cash.

But you're right it's a necessity to run out and buy a big house then shit out 3 kids before you even hit 30.

>>82286988
He just aggregates polling data. If the polls are already skewed, then that's gonna reflect in his predictions. I'll still give him props for realizing that something was off and trying to fix his aggregation formula. I remember when some sites were giving Trump less than 1% chance of winning and they were laughing at Nate for being so bullish with his around 30% chance prediction

>>82287886
>donald trump is nickelback
>dear media stop freaking out about donald trumps polls

the poll guy is telling you to ignore the data!

the poll guy says trump is a canadian band!

>wrong about trump for a year
>ill still give him props for being wrong
liberals must have a really low bar for success

>>82287886
there are too many funny headlines actually

>donald trump is winning in the polls - and losing the nomination

i forgot trump was leading all the polls for the republican nomination for months and all the experts still said he wouldnt get the nomination

>>82287863

Alright well the best part about being proven that I'm wrong is the fact you realize what's correct, so perhaps you can enlighten me.

The buyers of the mortgages were paying their mortgages in full every month. What's the deal here? Why are they to blame? They can afford the mortgage, they realize that, just not the house.

>>82279164
The big banks got exactly what they wanted: remove competition and even more control over the economy. USA is owned by (((their))) banks, and it will never change until it all collapses.

>>82288168
I'm not saying you need to dissect the entire fucking economy to determine whether or not you can afford something, just use some common sense. It needs to pass a simple smell test before anything else.

If you are working and can only put away 5 grand a year towards a house, you cannot afford something that costs hundreds of thousands of dollars. Figure how long it would take you to pay the thing off even WITHOUT any interest, if you come up with something measuring in multiple decades, some giant fucking alarm bells should be ringing in your head. Ask if you really need 5 bedrooms and 4 bathrooms and 4000 square feet, for 99% of people, the answer to that is clearly no, but those same people are so god damn lazy they won't even bother to sit down and do simple calculation for what that shit actually costs.

>>82287738
personal responsibility of the lender to know better? We can agree then

>>82285919
You think anyone would lend Greeks money without measures to cut that spending? They'd steall it all again and wouldn't stop spending.

>>82288473
how about the borrower to not be a worthless sack of diarrhea

>>82275633
what if those "immigrants" (actually the entire underclass of a duplicitous neighboring country sent here on a mission to "reconquer" some territory lost centuries ago) cost the host country a fortune in welfare, education, medical and other costs and the "poor" people in said country were actually comprised mostly of lazy, fat, hard-drinking, drug using degenerates who've ridden the welfare train their whole lives and plan the same for their multiple kids by different fathers?

>>82276289
>everyone
He meant everyone in Wallstreet will blame other people.

>>82283720
... what higher education doesn't require social security numbers?

Weakest part of the movie imo

>>82287863
>if you are making 50k a year, you cannot afford to buy a 700k house.

>banks circa 2006
>Just because you are making 50k a year doesn't mean you cannot afford to buy a 700k house!
>sign here.

>>82275633
That line was so fucking pathetic, god I hate writers like that

So like we can blame poor people, immigrants AND Jews right?

>>82276289
A certain amount of Republicans I know blamed poor people for taking loans they couldn't pay

>>82278012
>>82278764
>>82276321
People who got adjustable rates which skyrocketed when the economy tanked

>>82284993
>why the fuck do you think leftist retards got elected in droves across the country the past 8 years?
Democrats have lost over 1,000 seats since Obama was sworn in.

>>82294181
to a teapartier, anyone who isn't tea party is leftist.

>>82284993
>why the fuck do you think leftist retards got elected in droves across the country the past 8 years?
Um, the entire premise of this question is wrong? The question was why were they elected in droves in the previous eight years, and the answer to that was Bush, which was the worst possible thing that could have happened to the Republicans.

File: 1449751335603.jpg (79KB, 258x245px) Image search: [Google]

79KB, 258x245px

>>82284993
>he's politically illiterate enough to think the average democrat is remotely close to any definition of leftist

>>82294815
Does that also apply to the average Republican not being right-wing, or what?

>>82288322

I think he's referring to the fact that the monthly mortgages were indeed affordable where as the up front payment of the house in full wasn't. Any reasonable person with an understanding of their expenses would see that the house is obviously ridiculous but the mortgage is well within their means and thus decided to go for the mortgage.

The problem is you'd have to have the combined skills of a journalist, economist, and insurance salesman to make a properly informed and responsible decision to know that they were fraudulent and we're going to collapse, whereas the movie and book noted, only a handful of the people on the planet did.