Make the rich pay. They caused it!

[I1L2T3]

And there was me think the blame lies firmly with the people that borrowed the money they couldn’t pay back and the people that encouraged them to borrow it. Then there’s the government that actively encouraged and manipulated a property bubble of monumental proportions to create the illusion of wealth.

 

You're absolutely right. The debt crisis has been caused by corporate, personal and sovereign debt, and not just be the actions of the banks. Understanding why we are in this crap is the first step to getting out of it. I've not seen any government or party fully acknowledge this yet.

[MrSmith]

I refer you to post 13.

 

Governments regulate banks, so the government was ultimately responsible for the actions of the banks, the government also created the property bubble and only the government had the power to prevent it or stop it, but it gave the illusion of wealth which benefited the government by making them appear competent when in fact they were monumentally incompetent.

[Anna B]

So you didn't borrow one penny you shouldn't have? Or was your irresponsible borrowing (keeping up with the Joneses, perhaps) the banks' fault entirely?

 

Further, what is 'poor' in this day and age?

Only one iPad in a family of seven? One 50 inch flat-screen? Only two holidays abroad a year?

 

Go on: blame the 'rich'; it detracts from the real party deserving of blame: you.

 

Actually, without wanting to sound a goody two shoes, I didn't borrow, have no debt, and have no wish to keep up with anyone. However I realise that people who are poorly paid are more likely to need to borrow just to keep the wolf from the door, (I've been there too...) It's not a question of ipads etc.

 

There are families in this country who have to go to free food banks to survive, and are being made homeless.

 

Is that poor enough for you?

 

I do blame the rich, most definately, and p*** poor governments over many years.

[Gamadar]

Governments regulate banks, so the government was ultimately responsible for the actions of the banks, the government also created the property bubble and only the government had the power to prevent it or stop it, but it gave the illusion of wealth which benefited the government by making them appear competent when in fact they were monumentally incompetent.

 

Now remind me. What was the name of that confounded woman who deregulated the banks?....Let me think...hmmmmmm.

I remember that she stole milk from children too.

 

Was it Maggy Snatcher or something?

[Lounge Jay]

Actually, without wanting to sound a goody two shoes, I didn't borrow, have no debt, and have no wish to keep up with anyone. However I realise that people who are poorly paid are more likely to need to borrow just to keep the wolf from the door, (I've been there too...) It's not a question of ipads etc.

 

There are families in this country who have to go to free food banks to survive, and are being made homeless.

 

Is that poor enough for you?

 

I do blame the rich, most definately, and p*** poor governments over many years.

 

"Wolves at the door" are people collecting debts.

[Anna B]

Governments regulate banks, so the government was ultimately responsible for the actions of the banks, the government also created the property bubble and only the government had the power to prevent it or stop it, but it gave the illusion of wealth which benefited the government by making them appear competent when in fact they were monumentally incompetent.

 

I agree that Governments must shoulder a lot of the blame, but, with Globalisation and mega corporations, who owns the governments? I would argue that the 1% put sufficient pressure on all governments to ensure they stay supremely wealthy, (and indeed get even wealthier,) at the expense of everyone else.

 

Governments no longer do what is right, but what is expedient.

[Gamadar]

"Wolves at the door" are people collecting debts.

 

Debts are created by governments by overtaxing. If we were not overtaxed by the ConDems far fewer people would have wolves at their doors.

Petrol is still 80p per litre in Lanzarote.

Cigarettes that cost £7 per packet here are £2 there.

There are no parking charges anywhere.

There are no speedtraps anywhere.

We had a lovely buffet meal for about £6

Need I go on?

Many peoples debts are caused by overtaxing in England.

[Ousetunes]

Now remind me. What was the name of that confounded woman who deregulated the banks?....Let me think...hmmmmmm.

I remember that she stole milk from children too.

 

Was it Maggy Snatcher or something?

 

And 13 years of Labour hardly improved matters, did it?

 

Indeed, if it's feckless borrowing or screwing we're talking about look no further than Darling and Brown! Perhaps if they'd not sold our gold reserved for three and nine pence we might not be in such a mess?

 

Fact is, left and right, state or private have all contributed to this country's present mess - but we as borrowers aren't entirely blameless, either.

[Ousetunes]

Debts are created by governments by overtaxing. If we were not overtaxed by the ConDems far fewer people would have wolves at their doors.

Petrol is still 80p per litre in Lanzarote.

Cigarettes that cost £7 per packet here are £2 there.

There are no parking charges anywhere.

There are no speedtraps anywhere.

We had a lovely buffet meal for about £6

Need I go on?

Many peoples debts are caused by overtaxing in England.

 

If you like the place so much....

[Jim Graham]

Now remind me. What was the name of that confounded woman who deregulated the banks?....Let me think...hmmmmmm.

I remember that she stole milk from children too.

 

Was it Maggy Snatcher or something?

 

 

You misremember a lot of stuff as well:

 

The Education Act 1944 provided milk - a third of a pint a day - in schools to all children in the United Kingdom under the age of 18 until 1968 when Harold Wilson’s Labour Government withdrew free milk from secondary schools.

 

You didn't get it right about deregulating the banks either but loonatics like you don't care about facts, just lazy rhetoric so please feel free to carry on. Yawn.