It's absolutely untrue that the whole of society lost the run of themselves. Lots of people didn't go crazy spending like there was no tomorrow. Lots of people have no debt other than their mortgage. Lots of people bought prudently - or prudently didn't buy.This thread confirms that it wasn't just the banks and government that lost the run of themselves but the whole of society.
That is why the whole of society will have to pay in the coming budget unfortunately :-(
but the whole of society
Not just this comming budget - generations will be paying!That is why the whole of society will have to pay in the coming budget unfortunately :-(
I agree. I get annoyed any time I hear someone suggesting any kind of debt forgiveness or 'NAMA for the people'. I have yet to read of or hear about a person or couple struggling financially just because of a large mortgage and negative equity - there is ALWAYS a big pile of personal debt and credit card debt. What were they doing? 20/30/40 years ago, people were delighted to just be able to buy their first house and were happy to just have a mattress and some deckchairs as furniture until they could buy stuff bit by bit. The culture of entitlement went a bit crazy here for a while for some people.
Even if there wasnt a recession they would be paying back these loans - was it just that credit was so easy to get that people forgot theyd have to pay it back later?
This thread confirms that it wasn't just the banks and government that lost the run of themselves but the whole of society.
That is why the whole of society will have to pay in the coming budget unfortunately :-(
Absolutely right, but the mistakes of some are now being paid for by everyone. That is the most unjust and unfair society I can think of. It is not about helping out people that have fallen on hard times. It is about teaching people a hard lesson of life.It's absolutely untrue that the whole of society lost the run of themselves. Lots of people didn't go crazy spending like there was no tomorrow. Lots of people have no debt other than their mortgage. Lots of people bought prudently - or prudently didn't buy.
This is what sickens me most. My infant daughter will be paying for the mistakes of some, made at a time when she wasn't even born yet. That is if she chooses to stay and pay the taxes.Not just this comming budget - generations will be paying!
I was at a party talking to some people who were all going on about their property investments and how much money they got from the bank by "playing them out against eachother to get more money". I mentioned that I had saved for a deposit and some appliances and furniture, and was taking out a mortgage for 85% with a plan to reduce it to below 80% as soon as possible, and that I had no loans or cc debt. People looked at me as if I had two heads. I later overheard two of the guys that had been most vocal about their "property portfolio" saying something to the tune of "that Chris guy is some bumba$$".
.. the Eircom floatation.
A waiting list for a specific handbag in BTs was one early indication, I recall, that things were getting out of hand.
a waiting list for a hand bag???!!!!! i hope the bag was practical?
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