Saturday, June 30, 2012

Banks ?

Banks ?

The banks simply don't want to take the loss, they don't want to admit that Houses, Real Estate, the loans made to insecure clowns (who know that work and labor is meaningless today since a Technological Economy has rendered work and labor not only irrelevant and not needed, but a liability, not even an asset, a loss, a pain in the a*s, as hiring people is a pain in the a*s since they are all useless (freeloaders?) turds, they are worth nothing and cost way more than what they can ever produce, etc.) who thought that buying property (and flipping it, and hiking up the value and prices of homes evey year for years on end thinking that they were all getting rich, they were creating free wealth out of thin air ?) was a good investment, was the right thing to do, protected your hard earned money, etc. exactly when this was no longer possible and true because the economy will never be able to create all the high paying jobs to which the high values of homes should correspond. How are you going to pay back a 20 year mortgage when they fired you, or outsourced you or "cut waste" and gave you less money, etc. when they are killing jobs since they don't want to give out Free Salaries, the only true way to distribute weath since jobs are irrelevant and no longer needed ?

How can 20 year mortgages be backed up and guaranteed when the economy can't even guarantee a few weeks of a steady job since companies are always hiring and firing and restructuring and changing everything because they don't know how to make a profit anymore and blame the workers who are always too lazy or not trained enough or not innovative enough, etc.

So they don't want to take the losses, they don't want to accept that the 100,000 or 200,000 dollar loan given to some clown will never be paid back again because the money wasn't in the Economy in the first place, the home values are way out of line to what the real economy can ever generate, the illusion of all of this wealth that was supposed to pay for inflated home prices in the future through "high paying jobs" that never came, that were never possible from the start since a Technological Economy not only eliminates all high paid jobs always, it eliminates any jobs at all completely as a Technological Economy no longer has anything at all to do with Work and Labor and Jobs at all. So how are you going to pay for the inflated homes ? How is that imaginary wealth you though was in the economy going to come out anymore ?

The wealth in Spain and the USA doesn't correspond to the high home prices, the imaginary wealth that is assigned to the high home prices doesn't correspond to any possible reality of the underlying economy, the economy can never again generate such huge wealth through jobs or any kinds of exchanges at all, this is and was one worldwide huge Home Prices and Property Prices and Values inflation that took place all across the world, starting from JAPAN and ending in Italy, all super inflated home prices that don't correspond to the reality of any of the underlying economies.

So the banks simply, and society as a whole simply can't take the loss, can't accept the loss, be honest once and for all and declare that home prices are worth not even 10 % of what they though they were, a 3 bedroom home in the midddle of Los Angeles or Manhattan or Tokyo or London or Rome, etc. should not be worth ever more than 50,000 dollars bar none and the rent not more than 200 dollars a month. And the banks should just write off all the imaginary wealth and money they thought they had, the economies worldwide thought that was in the system as a fariy tale, as a mistake, as a bad bet, simply as money that was never there in the first place.

China and Canada are still hiking up home prices, they think they are getting rich they think that there economy can generate the equivalent jobs and exchanges, what are they crazy or what ?

The USA has 100 million home valued at about 150,000 dollars each and you really think that the USA contains 100 million jobs paid 15,000 dollars a year for 10 years in terms of potential exchanges and jobs that need to be done ? In Italy and JAPAN the situation is even worse, they all have this huge illusion that their economies are way way richer than what they really are because all of the assets and wealth are based on property prices and values which are totally fake and false and inflated way beyond anything that can possibly correspond to their real economy.

And then an economy doesn't ever need so many jobs, after you build some cars and homes and furnish some services (a few hundred thousands jobs at most), an economy doesn't need to do anything else, the idea of all of these millions of jobs needed to be done is the greatest illusion of all.

Now go on Europe give the spanish banks billions of dollars, keep on fooling yourselves..


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