Wimminz – celebrating skank ho's everywhere

November 16, 2012

Dropping pennies

Filed under: Wimminz — Tags: , , , , , , , , , , , , , , — wimminz @ 1:03 pm

It is a truism that it is a lot easier to say, with truth, “this is clearly fucked up”, than it is to come up with workable solutions to that same problem.

It is a truism to say that 99% of the bad stuff in any catastrophic event happens in the last 1% of time of that event, long past the point where intervention can avert said event.

It is a truism to say that 99.9% of people are sheeple, preferring to be lead by the nose than to think for themselves.

So let’s take the USA as an example, I could have picked anywhere else in the western world and the details might be different, but the picture would be the same.

The USA guvvmint budget can be divided into three sections;

  1. Discretionary spending, such as roads, infrastructure, education etc
  2. Mandatory spending, such as social security.
  3. Debt servicing, such as paying interest on debts the State owes.

We can draw an analogy here to the average household;

  1. Discretionary spending, such as high tech, take away, cable telly
  2. Mandatory spending, such as food and fuel
  3. Debt servicing, such as paying the mortgage off, or lately paying the interest on your interest only mortgage.

When you get a situation that income drops to below the level of 1 + 2 + 3 then you just have to cut back on #1…. except none of the above did, they just doubled down on more debt and boosted #3

Nota Bene, income does not have to DROP, 1 / 2 / 3 can INCREASE to exceed income, it all ends up the same, less income than expenditure.

When you get a situation that income drops to below the level of 2 + 3, you are what is known as BANKRUPT.

When you have a situation such as we ACTUALLY have now in the western world, where income is insufficient to cover 2 + 3, and yet #1 still hasn’t been cut, AT ALL, then you are what is known as fucking delusional.

So, getting back to the three premises in red at the start.

This is where we are, we are effectively in a financial boat that is holed below the waterline, and the hole is letting in more water than the pumps can pump out, not only this, but we have refused to do anything about the hole below the waterline, or lightening ship, instead we have formed committees to discuss knocking some more holes and calling them “moon pools” or some such shit.

Premise one states that it takes a lot less brains to see that we are fucked, than it does to come up with solutions.

Premise two states that when it all starts to go horribly wrong it will do so in an exponential rush, and by definition this happens long past the point where things can be fixed.

Premise three states that nobody is going to take any steps to address their own personal situation, much less at a community level.

ENTER ME, STAGE LEFT,
THE SECRET ALIEN LIZARD
BILDEBERG WORLD LEADER.

Well, premise zero states that this is just fucking human nature, ever was it thus, why, back when I was running things in Mesopotamia in 5,000 BC via my puppet leader Sargon, people were just the fucking same.

Fast forward to 2012 AD and what do we have? Two choices.

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1/

Implement DRASTIC and BRUTAL cuts to discretionary expenditure, make VAST changes to mandatory expenditure, and sit down with those owe a debt and lay it all out, either a 75% haircut on the debt or a moratorium on ALL further interest payments until the capital owing is CLEARED IN FULL.

This means cutting out COMPLETELY all spending on the military, all spending on education, all spending on social services, all spending on local government.

Those of you in the military take home what hardware you can carry, you are now the militia which will defend the state.

Those of you in education now work directly for the parents, if you can convince them to employ you.

Those of you in local government the same.

Mandatory spending like social security and health cut to the bone, basic state dole of US$100 per person per week, which sole purpose is you do not have to steal to live and so be a burden on society…. medicare employs only frontline professionals, doctors and nurses, NO FUCKER ELSE.

Then you address the debt, either we (USA) cut debt to 25% of what it is and freeze the interest rate until it is paid off, or we pay off the capital only, and once it is paid down to zero, no more rights, EVER, to borrow any more fucking money.

2/

Start a war.

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Option 2 beats option 1 because option 1 means going against those three red premises at the top, and you know, being personally as unpopular as a paedophile in a kindergarten.

Option 2 means you can claim some OTHER fucker is the paedo in the nursery, THEY started it.

Prace bets now…. Banzai

January 1, 2012

Debt, Contract and the Golden Rule.

Filed under: Wimminz — Tags: , , , , , , , , , , , — wimminz @ 12:07 pm

Fred owes 5k to Bank A for a car loan.

Fred owes 175k to Bank B for a home loan / mortgage.

Fred owes 2k to Bank C for his overdraft / plastic.

The car loan from Bank A was made at an interest rate of 9.5%, the home loan from Bank B was made at a rate of 4.25%, the overdraft/plastic from Bank C is 13.95%

Three separate loans, three separate legal contracts, three separate incredibly powerful potential opponents.

Fred, or Freda, has goldfish memory, he cannot remember ordinary vehicle purchase loans running at 33% APR… I can.

Fred, or Freda, also suffers from massive ignorance, if Bank A sells Fred’s debt to Bank C, then Fred can forget all about any arrangements or contracts he had with Bank A, they all expired, the only thing left is the debt.

Bank C can say to Fred “Pay us in full, NOW!” or they can say “Everything is staying the same, except we are charging you 25% APR interest on your outstanding balance, not the 9.5% you were paying.”

Fred or Freda cannot stop Bank A selling his debt / contract to Bank C, if Fred / Freda doesn’t like it the only real option is to pay off the debt in full, and yes, there will be an extra “arrangement fee” to do that.

Fred or Freda cannot enforce the terms of a contract between Fred(a) and Bank A, upon Bank C, as they are not named in it, Bank C bought the debt from Bank A, Fred(a) wasn’t part of that deal legally either.

Once Bank C hold’s Fred(a)’s debt, then that debt is the only thing that has survived the transition from Bank A to Bank C.

Bank B now notes that Fred(a)’s financial situation has changed, eg loan payments have just gone through the roof, making the outstanding mortgage more risky, and more risky loans = higher interest rates, so Bank B increases the minimum monthly payments Fred must make.

In the “last” recession I had a friend, he had a great business, it employed 12 people, cash flow was good, order books were full for nearly 18 months, he was doing great, naturally enough he used Bank provided finance to make everything simpler and easier and smoother, but see above, cash flow was great, order books were full for the next year plus, all 12 staff were working and making him a profit, he was making all his payments on time and had cash deposits as well.

The Bank called him in, sat him down, and called in ALL his loans, which closed his business, put 12 men out of work and left his customers on the order books having to find a new contractor etc etc

The Bank manager told him, unofficially, plain as day, “Fred, we (the Bank) did not call all your loans in because you could NOT pay, but because you COULD pay… we need the money…”

This, like a certain bank offering me a vehicle loan at 33% APR are not mythical fairy stories, this shit happened in my lifetime not ten miles from where I sit right now.

The fact is people today not only lack clue #1 about the true nature of debt, they also lack clue #1 about the true nature of Contract Law, and they lack clue #1 about the Golden Rule, he who has all the gold makes all the rules…

Fred(a) vs Banks A/B/C in various Courts, arguing that Fred borrowed the money for the car from Bank A, and that should be that, is an unequal battle, a non starter, it is going to do nothing except pound Fred(a) even harder into the ground.

Those of us who are not Fred(a), those of us who always understood that percentage interest on loans is an Exponential Function mathematically speaking, those of us who always understood that the Bank has more lawyers than I have hairs on my head, those of us who always understood that a loan from a bank for a car was a contract, and just as I can sell the car at some future point the Bank can sell my debt at some future point, those of us who always understood that THE LOAN HAS YET TO BE WRITTEN THAT DOES NOT CONTAIN A PROVISION ALLOWING THE BANK TO DEMAND IMMEDIATE AND FULL SETTLEMENT FORTHWITH, are those of us who relatively speaking owe sweet fuck all today, view what the rest of us are doing as some sort of cross between boarding a train that is already involved in a slo-mo train wreck, and jacking yourself up with the latest wonder drug which is nothing more than rat poison with a label stuck on it saying “Wonder drug” and obscuring the rat poison label… barely…

Indentured Servitude is an evil thing, and yet it appears that all those who have the gold have to do is offer the screaming masses a iphone and a large screen TV and a new model Ford on easy easy terms, and Fred and Freda will willingly take the first steps on the short and slippery path to Indentured Servitude.

 

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