Melody asked:
Will the banks all over the world suffer?
Will the banks all over the world suffer?
Will the rich guys who own banks be poor?
DION
March 25, 2009
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WILLIAMS
the economy would crash
Comment by jjunit — March 27, 2009 @ 9:28 pm
JULES
First you will be reported to a credit bureau. Your house will be overtaken by the bank. It will not hurt the bank owner, only you.
Comment by Midnightsal — March 29, 2009 @ 2:59 pm
ALI
Yes but we should do more than just stop paying Credit Card Bills and Mortgage Loan Bills.
What we need to do is and I mean all working people in America Everyone is included from the supervisor in an office or a a bank teler a restaurant worker a dishwasher a teacher an airline pilot a flight attendant a mailman a police man an electric company worker a customer service representative a telephone worker a sales person in store a doctor in a hospital a nurse a janitor an electrical engineer an architect a landscaper a store owner a student all working people in society let me repeat it again. “ALL WORKING PEOPLE” The bus driver the taxi driver the train engineer the ticket agent anyone and everyone.
All people should stay home and don’t go to work for a week. Don’t go to the store (ideally the stores will also be closed) No shopping no doing anything.
If we did this for a week the lost tax revenue for the government would be tremendous. if no one workd and does’t get paid then no one pays taxes. The corporations will be hurting because no one will be going to work and they will not make any profit.
If we were able to have such a United Stand against the system then we could improve our working conditions and our lives since we would be able to show the corporations and the government that we as people and workers should be treated with respect and dignity and everyone should have a job that will pay them a living salry and not make it necessary for people to go out and have two jobs and mothers are never home because they have to work etc.
I think that would make more of an impact and it would make our lousy politicians stand up and take notice and do what “WE THE PEOPLE” want to have done according ot our constitution and for us to have decent living and working conditions.
Only if we ALL stand united and do it together will it make a difference and not scared people saying “if we don’t pay then we will be reported to the banks and and then we won’t be able to use our credit cards.
When people are ready to stand up and work together in a UNITED WAY then something will happen
Just like in 1776 when we had our American Revolution and late ron the French Revolution when people demanded change and a better way fo life.
This is what has to be done.
Comment by eimittaa — March 30, 2009 @ 6:55 pm
JULIO
The real rich people will do OK since they have a lot of reserves. The poorer people would not be able to get loans to buy homes, since much of the money for mortgages comes from mortgage payments. There would be less money to loan to business. There would be less building, manufacturing, and of course less jobs.
The middle class and poor would be the ones hurt the most
Comment by hamrrfan — April 2, 2009 @ 2:04 pm
NIGEL
it only hurts those who cannot afford to go cash
the rich are well insulated from the down cycles
in fact the rich usually get richer as they come in an buy companies and other opportunities at bargain prices
but you end up seeing what you see now
higher unemployment
factories laying people off
business closing forever
Comment by dragonfireresurrected — April 2, 2009 @ 3:42 pm
RICHARD
It’s a whole lot better to stop charging stuff.
When you max out your card most of your payments are buying nothing but rental of the credit companys money. It will break your heart if you sit down and figure how much you could buy with the money you pay for interest.
Do your best to stop charging stuff and pay off your account as fast as possible, then don’t charge anything you can’t pay for in 28 days.
When you are up to date get rid of all but one major card.
Comment by MR HENRY S — April 3, 2009 @ 11:10 pm
BERNARD
They would take us to court but it is a good question and I don’t agrre completly with other people that it wouldn’t hurt the rich. people get rich by investing in things to make them money. Most rich people are rich either from family or making wise investments such as incoporating with other companies.
Take all of the forclosures today. It’s not the rich that are losing their homes. It’s the middle class but it is beginning to have a trickle down effect to the rich as they are cutting back on how many cars they are buying or other things.This is what is hurting the car companies the most It’s not just because we can’t afford to buy a new (as an example) $20.000 Impala and settle for a cheaper car we will be financing. It’s because the rich are not writing a chech for cash for those new Hummers for each member of the family. Or a new Rolls for Him and Her. They might just settle for a new Cadiilac for him and a fancy SUV for her till things look better economy wise.
When people get rich the most important thing for them is to stay rich or get richer by making money off of their money. When our government has to loan the largest Mortgage Companies in the U.S. money to keep these companies from going belly up and be able to make more loans to the middle class this is effecting everybody. 7 major banks went under last week that’s got to be hitting the wealthys pocket book in some way.
So, in answer to your question Yes, it would effect the world markets but they probably would just take our assets and threaten to throw us in jail if we didn’t start paying. What your talking about is a revolution and the Government is very scared of that happening that’s why they keep trying to change the gun laws where you can’t own an arsenal of your own.
Don’ t anybody thumb me down either because I’ve been around for 60 years and I also was a house sitter for a multi Millionare who owned, raised and had a place where people could have their horses bred by his pure Quarter horse studs basicaly as a tax write off. This is another way you stay rich. Tax write offs Don’t let anyone tell you otherwise.
Comment by airhead — April 6, 2009 @ 1:25 pm
JASPER
The same thing as if all the employers stopped paying all their employes.
Comment by Leo F — April 8, 2009 @ 3:42 pm