Man Made Global Warming

[MadBlaster]

Originally Posted by WTE_Galway

The American view of how the world works is a unique and interesting one.

However even for Americans, blaming the people who lost their homes for the GFC is a new and interesting theory. It would seem that despite assurances that even if they lost their job and could not pay they could simply sell the mortgaged home at a profit (as US house prices "always rise") their "irresponsible house buying behaviour" is the true reason for the GFC not any corporate misdoing.

Of course the main reason for the real estate bubble problems world wide is the detachment of real estate values from a genuine market value (based on its value as a place of business or a residence) resulting in a speculative real estate market where house prices are based on speculative values for capital gain. Gambling in other words.

Not really sure what the connection of real estate pricing with climate change is.

Basically agree with this. Real estate values, however, are location specific, not global. I guess your referring to mortgage backed securities and cds. Those were detached from the underlying asset values. Fannie Mae and Freddie Mac, the vehicles that allowed for the speculative behavior. From the videos I posted, you can see they all knew in 2004 there was a problem. The lending standards were far too loose as we all know now.

As to relating to climate change, there is a connection in the sense that the losses were socialized to the taxpayer to bail out the banks from all the forclosures, short sales, free rents. Then there were the cataclysmic side effects to the innocent, non-deadbeat homeowners who suffered realized and unrealized losses on their homes. This thing started from the sub-prime market and contagion spread to the prime market and then the "strategic default" took off. So, it clearly shows the wealth transfer effects of socialism, which is at the heart of the climate change scam.