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US Citizens Starting To Rebel Against Wall Street
The Wall Street - Main Street confrontation has been inevitable ever since the banksters decided to do anything and everything to perpetuate the game of Heads We Win, Tails You Lose, this time openly at the middle class' dime. It appears it has now emerged fully into the open.
While this video may or may not become viral, more people are ready to take action into their own hands, fully aware of the complictness of the Wall Street - D.C. - Regulatory complex, while cognizant of the downside.
With bonus season rapidly approaching for Wall Street, and by all counts this one may yet be the biggest in history, Wall Street will face unprecedented scrutiny for each and every dollar it pockets. And if the AIG fiasco was any indication, a rapid downturn in the markets is all it will take for populist anger to really morph into something more cohesive than merely people making YouTube videos or breaking Made in China products with their baseball bats.
h/t Karl Denninger
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Dear Zero Americans,
I have decided that this is a good place to post my thoughts about the current economic situation. I apologize in advance if this seems like a rant. It may have some semblance of one and maybe that it what I require in order to stop myself from building a large ceramic doll of Bernanke and Paulson in my office and subsequently smashing it to pieces. Chinese ceramic no less.
Us citizens are starting to rebel. But I am afraid that it is not at the rate I would like to see. The majority of my life has been surrounded by the bubble of the last 30-years. By no fault of my own I thought that APR meant (Appropriate Purchasing Requirement). I mean that credit demand pulled forward was a method for me to get the things that I could not afford.
I finally hit the wall one day, 50-k in credit card debt, 300-k mortgage and a noose that was continuously tightening around my neck. I could not sleep anymore. So I sold everything put my cash in the bank and embarked on my trading career.
As you can imagine with no trading experience I got my ass handed to me in the open market. I was so angry that I decided to point fingers at everyone except myself. It is my own fault that I lost a bundle through my lack of education.
I then began reading zero hedge and market ticker.
I decided then that I will not place one more trade until the lost money is replaced out my own strict adherence to certain financial guidelines. I.e. I will put the money back out of savings. Savings is a new thing to me and was extremely difficult in the beginning but has become much easier over the last 6-months.
I refuse to buy and new car, I use my credit card for free airline miles and pay it off at the end of every month and I will never buy a house until the prices reset to 3x nominal.
The true problem is that I feel fucking cheated. I had intended to may mad bank from the open market. As I have been told in the past the stock market is the greatest way for Americans to build wealth. Now that I understand what it has become I don’t know that I will ever be able to trade again.
My older friends have pulled credit demand forward, mortgaged their houses to the max and think cash for clunkers is a good thing. They don’t realize that they have enjoyed 10-15% returns for the last 10-years based on bullshit. And because of their generation I am now doomed to 3-5% for the rest of my pitiful middle class career.
So when people come and talk to me about the market being up 2% in a day I don’t know what to say. I mostly look at them and tell them to read our blog. Most times they don’t.
I would like to be more optimistic about our future but when you see how far the rabbit hole goes it is impossible.
I want to thank Tyler Durden and Karl Denninger for telling the truth about the way things really are. Or at least for providing a scientific perspective from the other side of “Green Shoots.” If it was not for you my fellow Zero Americans I am not sure what would have happened to me.
I just wish that the rest of the county would wake the fuck up and realize that before long there is going to be nothing left. I tuck my kids in every night and apologize to them for what I and their grandparents have left them.
An half empty glass full of 50% tax rates, horrific medical care and a future of 2% returns.
Thanks
Yes, there's certainly a selection bias but that would normally be similar over time, hence looking at changes should minimize selection bias.
good articles: good articles 4 slow news day ..http://www..
hat tip: stock market news finance news & opinion updated daily
You can add to your savings and in the process sticking it up to the banksters by maxing out and then defaulting on your credit cards.
you and many others. we'll muddle through, hopefully smarter for the losses.
to me, the compliment to what you've described isn't making money at this point, but rather holding on to what's left based on what seems inevitable.
ZH/KD, good neighborhoods for ideas on that. good luck out there.
anyone who carries a balance on their credit card is a moron.
she's in a hole and is digging herself deeper every day with this sophmoric stunt.
Anyone who pays their credit card is a moron.
+100
Stop feeding the beast.
It's not about the individual's credit score and it's not about the credit card balance.
It's about the billions of illegitimate profits the banksters have created out of thin air by selling derivatives on defaults and leverage against someone else's debt.
Banks were profitable during the boom years, banks are more profitable during the bust years.
That right there should explain the injustice to all.
Greenspan to the sheople: Blame the Mother Nature!
http://news.bbc.co.uk/2/hi/business/8244600.stm
fractionated pixelated debt ... off with her head
ain't no rebels round here yit. i'm looking for some though ...
Greenspan to the sheople: Blame the Mother Nature! Idiots!
http://news.bbc.co.uk/2/hi/business/8244600.stm
I'm confused. Ken Lay. Ken Lewis. Who was the guy that paid $20 Billion for Merrill and didn't tell the shareholders everything? Who was the guy didn't plead the fifth in front of Congress?
http://www.youtube.com/watch?v=Hro6tyGr5N0
Audit the Fed!
http://www.auditthefed.com/
Wow. The entitlement generation thinks someone should loan them money on terms they like. Her situation was and is 100% within her control, but she was could not control herself and lived beyond her means -- presumably because she thought she was entitled. How did her parents and grandparents not get in the trap she is in? -- they lived below their means!
This lady is very fortunate that many who voted for this President think like her -- the over-leveraged, irresponsible people should be bailed out by the responsible savers. Hurrah for the entitlement / government dependency agenda. Very sad.
March on Washington DC this Saturday (9/12) - Lincoln Memorial to tell the government to get out of our lives. Liberty Now.
Another self-delusional powerless dupe of the Wall-Street/DC/Fed cabal.
I think it's time to look in the mirror and remove the beam from your own eye, before proceding to demand that the speck be removed from someone else's eye.
Nobody held a gun to this gal's head forcing her to go on a credit card spending binge while earning below average wages.
By going into debt on BofA's dime, you've become their debt whore and they can prostitute you out anyway they see fit.
And, I have little sympathy for people who financed their lifestyles through debt, refused to look in the rear view mirror of past recessions, and now that the pied piper has appeared in the village ready to collect, refuse to pay up.
If Main Street wants to exact revenge on the Fed led cabal, all they need to do is pull every last red cent from the markets and deflate this latest bubble.
But, I doubt that will happen because your average Joe Q. Public is riding high on the hallucinogenic drug called Green Shoots Quantitative Easing, while still hoping to recoup losses from the bottom in March.
Good try missy, but no banana for you!
We will not pay interest on money created out of thin air - ever again. It is a SCAM and a FRAUD. Period.
I don't agree with banks brutally ramping up interest rates for no reason, and even when there is cause I think most of the rates are too onerous. And they should be held accountable for the money they've (wrongly) receieved from taxpayers but some of this stuff is ridiculous.
Let's all defualt on our credit cards.... because they MADE me buy things I couldn't afford with it, and now that I see the opportunity to somehow get out of it I will stick it to them- way to take responsibility. It's that kind of thinking that got us all in this mess. The irony is too much as these people blame banks for taking money that is not theirs and spending it on themselves. So what exactly is it when you do the same?
Way to go, these are the same people who most likely lit up their credit cards with reckless abandon not actually thinking that they have to pay for that stuff.... but I'd bet many of those same people criticize the government for running high deficits that they can't pay back, because well, that's wrong....
My thoughts, exactly. Why anyone’s still around who believes Government “Truth” is beyond me.
good articles: good articles 4 slow news day ..http://www..
hat tip: stock market news finance news & opinion updated daily
More bankster rebellion. Let's give these kids props and youtube hits to promote the cause.
Interesting interviews at 2:44 and 5:00
http://www.youtube.com/watch?v=BcArPSk8YXQ
I don't agree with banks brutally ramping up interest rates for no reason, and even when there is cause I think most of the rates are too onerous. And they should be held accountable for the money they've (wrongly) receieved from taxpayers but some of this stuff is ridiculous.
Let's all defualt on our credit cards.... because they MADE me buy things I couldn't afford with it, and now that I see the opportunity to somehow get out of it I will stick it to them- way to take responsibility. It's that kind of thinking that got us all in this mess. The irony is too much as these people blame banks for taking money that is not theirs and spending it on themselves. So what exactly is it when you do the same?
Way to go, these are the same people who most likely lit up their credit cards with reckless abandon not actually thinking that they have to pay for that stuff.... but I'd bet many of those same people criticize the government for running high deficits that they can't pay back, because well, that's wrong....
But the banks stuck it to taxpayers who didn't have accounts with them. When you take money from me and I have no contract with you, that's theft. When I borrow money from banks (hypothetical) I do so when OFFERED. I did not offer banks my money. The situations you describe are not parallel.
Well done, a credible voice out of a morass of lies and deception. Judging from Martin Armstrong theory of cycles, the loss of confidence in government should hit it's peak in mid 2011 to 2012. Without a complete wipeout ( second more serious economic low) the bankers and financial engineers and the government regulators will never act to correct the financial system. The derivatives circling the planet grows every single day as greed and fraud still reign supreme.
cheers
I don't post much and I am a middle class unemployed worker who has lost everything, My house when I went through my divorce and could not sell it 2005. I say screw them! I tried to play their fucked up rules. I begged and borrowed from friends and family to try to keep what I had worked all my life for. For what so I could keep paying fees and higher interest rates, It is not worth it.
I will say this I am long pitchforks,rope,torches and tall trees,Bankers Financial types all I can say is good luck
We have already disregarded FICO, Credit Lines, Creditors etc. None of that matters anymore.
We have started to find ways to live off the grid using firewood off our trees and water supply that will last weeks.
Life isnt about Money. Life is about living in America and doing the things we should be doing as Americans. First before anything else, fear God first. Then take care of your family, friends and neighbors.
The only reason I visit this site is to watch for the coming day when Wall Street ceases to matter and probably take the US Dollar with it. We are already seeking ways to get through it.
Years ago I sit gaining weight on credit and losing my health. When I stopped lounging around on my fat ass and got going outside to chop trees I started to slim and get strong.
What scares me is the continuing behavior of my towns folk by the thousands waving FDIC debit cards and buying things they will eat today on credit without consideration for the coming hard times that will leave them desitute and hungry enough to form bands and kill those that have food.
They can start with wall street.
Anyone noticed that the total views are around 300 and the ratings are over 350? I guess someone doesn't want this to go viral.
this should be sent to congress. It is a crime and I have advicated that all americans should stop paying their mortgages etc.
First we all need to wipe out unsecured debt and only bank with those not getting bailed out. The loss of deposits would cripple the big banks.
I hate Hank.
We are watching "The Great USA FINAL RESET" strike 9/9/09.
Our government and banksters better watch out if the reset starts.
I may not know all the details, and at this point details don't matter, only accountability, transparency and reigning in corruption on a massive scale.
I am praying this evil somehow works to our good.
I have enjoyed reading the rants, both for and against her. The readers of ZH seem to agree that the government, media, leaders, are a unified pile of BS. She has been living exactly like she has been told to by these assholes. Her life, sheeple or not, is just the way she has been led to believe is right. Her financial knowledge has been taught by the public education system. Her aspirations have been social-engineering approved. The products she purchases have been EPA approved. Her job was probably a economically desirable one in the service sector. She has been LED into her present position. Those who were her Sheeple shepherds accrue all fault. They chose to lead and were wrong. Hang the bastards as an example.
So no one is really responsible for themselves, their own education and not even their own aspirations. Wow - you must love this President -- he thinks just like you and he will lead you to the promised land.
No, actually the only thing good about 'Bamma is that he is not Bush. It is a damn shame that some people are not sceptical of the goals of the leadership. But that is the way it is. Every army needs officers and privates. The privates do not have the blame for following orders. Inteligent decision making is a great goal and accomplishment. I am glad that so many can succeed in scepticisim. Sorry but in this as in everything else, 49% are bel;ow the mean. That is the way it is. Now if she medicated her anger, shut up, took the 30%, ran up charges for easily sold items, and then reported them stolen to her insurance and declared bankrupcy would anyone be better off? Guess how much a chop shop will pay for a new luxury car that won't be reported stolen for a week or so. Shame there are not many ways to fuck the leadership if one does not have a lot of resources. But I'll take my share of her dammage to the economy gladly in exchane for not having to swallow the BofA, Citi, FED dammage.
Good for her. Not because she's trying to stiff the bankers (ala Mr Gekko), but because she makes a simple protest against unconsionable loan sharking by the banks. Banks earning 25-30 % interest on strung out borrowers is just wrong. I suspect most people with credit card balances would be willing to pay 500 bp to the bank to keep their credit cards. That's still a rich return for the banks and its about time someone (like her) puts a face to the argument. I'm praying this does go viral.
BOA wil be in touch with her today to reduce her rate.
And just as she's the face of normalcy, Gordon Gekko here is the face of the loons on this site. The position of fuck the banks for distributing fiat money to the likes of him so he can "protest" the system by taking it, converting it to gold and reneging on the loan is just too clever. Its sociopathic hypocrisy. I'm not interested in funding his "protest" with TARP funds,(read my taxes) any more than I'm interested in funding IB bonuses throught the TARP. His argument and actions are as bankrupt as the bankers.
GG is too easy a target, but it needs to be pointed out to him and his ilk, that their actions aren't heroic, just opportunistic.
Agreed....thanks.
Remember it's Bernanke, Obama, financial lobbiest and all the rest that brought taxpayers into this. Her loan is between her and BofA. And it should have stayed that way. She didn't borrow the money from you and me. Her contract is with BofA. Others going bankrupt should cost taxpayers a dime. It's not her concern so blame the right ones.
Due to devastingly low income the last 3 years, I decided not to dip into savings to pay my credit card bills and underwater mortgage. I have stuck Chase, Citi and Bof A with the bills and will file for Ch7 bk this month. FICO score be damned. This is my personal revolt.
BTW, I have been living in my house for 10months without a mortgage payment, cannot nor will not participate in a bogus loan modification. So far, only a notice of default.
Bankruptcy is a personal business decision - nothing more. If you're insolvent it's the RIGHT thing to do period.
In the end we don't need credit. It's a crutch for the weak who feel shame about what they have. Our houses, cars, educations, healthcare...it's all way over priced. We desperately need this recession to bring things down to earth.
All the best to you
Wow. If you guys are really feeling so revolutionary we should just all refuse to pay taxes come next April. The country would be on its knees quickly, not enough time to come after anyone if a majority acted in concert.
I guess you could always spray paint a TBTF with 1207 too.
Lots of good civil disobedience options out there. I'm proud of this lady F'em. Usurers deserve the whirlwind their soon to reap.
That day probably will come when all unemployment has run out for the millions of people.
Hard to collect taxes on zero dollars income.
If everyone, who has a hunderd dollars to withdraw, all did it on the same day, they would get the point.
the $100 run.
Take cash out every day and store it safely.
There is not enough cash in America when everybody tries to take it out.
This is NOT a joke.
Prepare for a coming "bank holiday" in the near future.
Hope she manages to stay out of legal trouble. But good on her.
i am all about not paying the fucking points but at least eradicate the principal debt, interest not withstanding. the reason i had to pay more for a product stems from the fact that the vendors will generally have to shoulder a transaction cost from credit card users which they effectively pass on to all consumers, so your luxury is my supression, being a cash only kind of person. i don't think it's fair that you are charged exorbitant interest, albiet there is something fundamentally wrong with usury, but if you bought and recieved something with money you didn't have you should make the appropriate amends. be fucking responsible adults.
a rapid downturn in the markets is all it will take for populist anger to really morph into something more cohesive than merely people making YouTube videos
And yet people wonder why the stock market has been artificially propped up these past months...
Took them long enough ...
Chase jacked my rate to 30% on the thinnest of reasons. Needless to say they can suck it.
Zero Hedge does a good job of revealing the fraud of the financial structure in all its forms, and it is clear that there no longer are laws to protect ordinary citizens.
So at some point it becomes endless, hopeless whining.
We all know the players involved and many of their subordinates. They all have addresses. So, it's time to find out where they live.
This is one popular thread. Why do I get the feeling that 'fuck repayments' is going viral? The people vs the central banking system, that would get very bloody.
I love her. Good video and great message.
If it becomes trend, the game is up. People getting paid min. wage with millstones of debt around their necks are slaves to the banks. Plain and simple. The system has collapsed last year but government stepped in and bailed out the pompous elite. Meanwhile the slaves are supposed to keep carrying the water.
The RESET button needs to be hit eventually.
FRESH start for all, new Dollar and abolish the Fed as the currency controlling mafia.
It can be done. Question is how much blood will need to be shed to get rid of the cancer.
My favorite post is the first - oh, she confused Keny Lay with Ken Lewis? Guess what, you elitist bastard: I guarantee this lady knows how to use a rifle, unlike you. All your little Ivy League diplomas on your wall aren't gonna help you anymore, pussy boy!
Can someone get this thing spreading around Youtube. That's what needs to happen to really get it going.
Hi -
I am new to the sight. "Village Idiot" is a reference to my limited knowledge in the world of finance, since becoming unplugged from the Matrix (read getting kicked in the teeth for about 25% of my net worth). Also, my punctuation kind of sucks, and I know that some of you are a little fastidious about that. Be patient and remember - Village Idiot. Anyway, I have/am experiencing the following - in no particular order:
If I am still a mid seven figure guy with no debt and I am finding validity in my rage against the machine, well, all I can say is - watch the fuck out to those of you who are directly responsible for this abomination because the woman in the YouTube video (and millions like her) have a lot more reason to be pissed off then me. BTW - I am so glad I found the nice people at Zero Hedge. Makes me feel better. Have a nice day!
Buy them fast. People with nothing left to lose can do some amazing and damned scary things.
From 1873 - 1890(?) during the Long Depression (google or wiki it), banksters were being lynched from lapmposts in broad daylight.
Rally Cry
http://www.youtube.com/watch?v=BTFASpNOpHw
I learned in the 1980s banks were no good. Got a used car loan at Bank One, got porked. Not bad by many people's standards but it got my attention. I paid it off ahead of time and quit them. I joined a credit union and have been happy wit them. I borrowed to buy my house (Ishould have saved and paid cash) but I paid it off ahead of time and paid maybe $2K interest. I hated the process of buying the house.. it was like going to the hospital.. no one could tell you the total cost. If they will not tell you in writing THE TOTAL COST do not sign. But anyway Red if you have learned something even at this late stage of the game it is not all waste. Just because the liquor store will sell me a half gallon of 10 year old burbon every night after I get off work doesn't mean I go for it. Sure they are crooks- but take personal responsibility.
no way will some whiny chick obviously reading a scripted, stilted message get any traction. it's too forced.
and besides, it's tough to feel sorry for anyone who is stupid enough to carry a credit card balance in the first place, rate jack or no. how about saving money before spending it?
Her unpolished average US citizen presentation (errors and all) is very compelling for more people than just about any other approach. Most of US can relate. Hell, I can definitely relate after getting my CC rate raised to about 25% too, even with immaculate credit. Hell, that's mot much better than just about anyone can get at the pawn shop. So, why not join the revolt for a few months and sacrifice the credit rating for the cause.
Every bit more the big banks rob US everyday and our unborn grandchildren too, the more pissed off I get. Yep, it's time for a rebellion, if that's what it takes to destroy the "too big to fail", regardless of what Washington DC and the Fed want.
We need to get on with the real financial crisis and heavy debt destruction that is obviously still ahead. Waiting will only make it ultimately worse. Let's get 'er done quickly, like ripping a bandage off a really hairy spot. Both major parties are corrupt, owned by the financial oligarchy and need to be destroyed along with those that own them. Hopefully the financial pain will be sufficient for the people to make it happen.
Revolution begins with rebellion. The only surprise is how long its taken for one to start after current and future generations were robbed of many $Trillions. Cars burning in the street on Pennsylvania Avenue and Wall Street may not be far off. I hope this video goes viral and this gal becomes as famous as Rosa Parks.
Her unpolished average US citizen presentation (errors and all) is very compelling for more people than just about any other approach. Most of US can relate. Hell, I can definitely relate after getting my CC rate raised to about 25% too, even with immaculate credit. Hell, that's mot much better than just about anyone can get at the pawn shop. So, why not join the revolt for a few months and sacrifice the credit rating for the cause.
Every bit more the big banks rob US everyday and our unborn grandchildren too, the more pissed off I get. Yep, it's time for a rebellion, if that's what it takes to destroy the "too big to fail", regardless of what Washington DC and the Fed want.
We need to get on with the real financial crisis and heavy debt destruction that is obviously still ahead. Waiting will only make it ultimately worse. Let's get 'er done quickly, like ripping a bandage off a really hairy spot. Both major parties are corrupt, owned by the financial oligarchy and need to be destroyed along with those that own them. Hopefully the financial pain will be sufficient for the people to make it happen.
Revolution begins with rebellion. The only surprise is how long its taken for one to start after current and future generations were robbed of many $Trillions. Cars burning in the street on Pennsylvania Avenue and Wall Street may not be far off. I hope this video goes viral and this gal becomes as famous as Rosa Parks.
Step 1: All of us stop paying our debts.
Step 2: Everyone give out their social security number.
Think about it.
BTW - if anyone is interested in a good piece of home defense artillary that the whole family can have fun with, I have done the homework. I alternated my time between that and turning down 20 plus year clients for mortgage financing.
You want revolution, check this out!
http://vimeo.com/6475921
Nice piece of work. thanks for sharing.
I've been saying this for months on ZH, I stopped paying all banks and will soon stop paying mortgage to renegotiate my rate... if they don't I stay in my home for months / years rent free while at the same time short this casino and all banks... this market is a joke and will soon implode... why do this, I'm getting even with these fuckers for the wealth destruction they have caused everyone in this country... time to get even with ZED and all these Hill Billy Bankers....
http://www.youtube.com/watch?v=rWOn1dFmFds
You Go Girl. This is just getting started. We already know congress is in bed with all these banks, and we the Lemmings have no say in what congress does. We have to start talking with our money, by just not paying. How many months do you think it will take if everyone quit paying their 30% creadit card payments before we actually get the banks attention?
Here are some videos, protesting Chase bank's abuse of customers who got promotional deals, with low APR's. Chase bank raised their minimum payment from 2% to 5%, in order get them to agree to a lower minimum payment with a higher APR. Chase exploited loopholes in legislation, (which were NOT addressed in the so-called Credit Card Reform Act) to get out of honoring the contracts.
This has been going on, since November 2008, with practically no coverage by the media. There is just a little bit, now. Hopefully, it will grow by grassroots efforts. The banks own Washington and the media.
Chaise Credit Card Diet
http://www.youtube.com/watch?v=vt-a_8LYzrw
Revolution
http://www.youtube.com/watch?v=AISu9ho1FfA&feature=related
Here are some videos, protesting Chase bank's abuse of customers who got promotional deals, with low APR's. Chase bank raised their minimum payment from 2% to 5%, in order get them to agree to a lower minimum payment with a higher APR. Chase exploited loopholes in legislation, (which were NOT addressed in the so-called Credit Card Reform Act) to get out of honoring the contract.
This has been going on, since November 2008, with practically no coverage by the media. There is just a little bit, now. Hopefully, it will grow by grassroots efforts. The banks own Washington and the media.
Chaise Credit Card Diet
http://www.youtube.com/watch?v=vt-a_8LYzrw
Revolution
http://www.youtube.com/watch?v=AISu9ho1FfA&feature=related