Vital that educated people who see wrong, speak out to protect the unwary!


Somehow, the original link to no longer works; so as it happens, I had the piece saved. So here it is!



[QUOTE=jackryan;2690305]The property developers got money thrown at them and took it everybody wants them to pay the price. Why not the same for those who took all the money thrown at them, as there were other people who didn't take this money and lived within their means. Anyone ever here of personal responsibility?[/QUOTE]


People, who did not partake in the mortgage mania, deserve credit for their business sense. But this is not enough. In this era of secularism, there is too much emphysis on individual rights. But universal rights in a broader sense entails that the attainment of these rights are shared. We all identify with sharing the National Cake; but this should also extend to speaking out against injustice which is being perpetrated on your neighbour. If a person thinks that getting a jumbo mortgage is wrong; then he has a duty to speak out against a system that condones drowning other unwary, less financial savvy people in such mortgages. Not enough people spoke out, until it was too late.


The problem now is that the National Cake is now in the ownership of a greatly reduced number of people. It is said that there is over €150bn in savings in Irish Banks. The problem is that it is owned by a limited number of people. These people only need to spend a small proportion as subsistence. Therefore, the Nation does not gain from this savings hoard. It is not being circulated, because the owners only need to spend a small proportion for everyday living.


The guy that shovels the coal keeps the steam train going. The youth of a country if they have spending money, speeds up the circulation of money. But the youth of Ireland spend a far too great a proportion of their salary on mortgage repayments. This happened because people who should have known better stayed silent and watched while one generation of Irish people were disproportionately saddled with massive debt.


Everybody in Ireland will loose; the wealthier people stand to loose the most, if the Irish Youth are not rescued from Negative Equity. It is a laugh when you hear people saying that the people in Negative Equity should have known better. What the hell is EDUCATION about, if it does not include the protection of our fellow beings from a life of financial slavery? Those who think injustice is being done should speak out! To continue to make jumbo profits from lives real imbalances, until the whole fiasco collapses, smacks of BARBARISM!