Am I the only one ?

smcgiff wrote: »

Very true - it doesn't say a lot about us as a people. The recent polls showing support for FF as high as it is. It's like a battered spouse returning to their abuser. Very depressing.

That and for some reason people expected some sort of miraculous change when the current lot got in. Unfortunately the centre politicians of this country are all much of a muchness. FF or FG(Lab)? Six of one half dozen of the other, fleshed out by the oddball and extreme parties. With a few notable exceptions the Irish political class tend to be vote seeking missiles and gombeen men. The electorate are to blame too, it's a two way street.

On topic I recall chatting to a local candidate looking for votes outside the local supermarket in the middle of the bubble. Nice chap, but he was talking about winding our collective heads back in. I told him that I agreed, but look around. Look at the car park, stuffed with Mercs and Beemers in hock on "easy" credit. No one is going to vote for someone suggesting this might all be bullshít cos that would be scary. Better to believe it would all work out. Human nature.

IMH many people did realise it was bullshít. I'm talking about the people buying into it BTW. You could see some of them baulk at the figures being bandied about in their personal lives, but again human nature, they were strapped in for the ride and didn't know how to get off psychologically, never mind financially.

Galwayguy35 wrote: »

Have to call you out on this, the banks were offering money to people who couldn't afford it, sending out letters saying they were approved for a loan when the salary some folks were on clearly didn't match up.

Sure people were stupid to borrow beyond their means, I've said it before, a quick calcuation on a piece of paper would tell most people if they could afford a loan but the banks and those working in them are by no means blameless.

+1000. I saw the same CG. Banks seemed to be nearly trying to get rid of money. My bank(s*) would ring me at least once a month offering me loans, credit cards, hugely increased limits on my one credit card. Dangling the carrot of new car, holidays, home improvements etc. Many's the time you would hear incredulity down the phone line when I told them I was fine I had what I wanted and if I wanted something I'd save for it. This really didn't seem to compute for them.

I knew(vaguely) one guy who was working in a very ordinary job, pretty low wages, early twenties. He had been left a house by a rellie of some nature. No mortgage on it. So he leveraged that house against another, rented that out then leveraged again. And again. This lad when I talked to him mid 06 had nearly ten properties like this. All leveraged against a single nice but nondescript semi dee in an equally nondescript area where gentrification was never likely to be sustainable. The banks were only too happy to build his nonsense up, even went so far as to advise him on his next "investment". I actually said to him at the time why didn't he cash it all in. He was young, get out while the getting was good and enjoy his youth with some cash and at least one gaff. Nothing to do with me having a crystal ball either. I just thought it might be a plan(drink was taken ). He told me without a hint of concern that even if he did - and this was at the height of the bubble - he'd be on a loser. I had some concerns up to then, but that really solidified them for me.






*One biz one private. Sound way flasher than it is