for some reason after watching this video I feel it is my purpose to become as educated on this as possible, but then I say "no, where is the money in that!" Am I the only one who feels this irony as an American citizen?

Damn I have been so ignorant

None of this would happen if you can afford the thins you buy. Now, I don't know all there is to this, but I think I know enough to make an argument. If you can't afford a house, or afford to pay off the loan, don't get it. If you see a big shiny T.V., why would you buy it when you can't even pay for your house. Now I only watched the first 5 mins of the video, but anyone with half a brain can see that if you have enough money before you make these decisions, you'll be okay. Its the people who don't have the money, or hope they can pay it off that this happens too.

Was also only able to watch the first five minutes because I have to go to class, but I think main point is that our society is built up around the notion that there is enough of the American dream to go around. Whether or not that is true, banks often entice people into making what they only later find out to be poor choices. Regardless of how steadfast and self disciplined you are, it is very difficult to not up overloaded with debt as an American citizen unless you start off with a healthy lump of cash. Will post more later as this picks up.

I think my net worth is just over 0 thanks to University. Although, that is interest free and will be automatically payed off, so its not a big deal.

My plan is to not get a cc or loan etc (Australia has some great tools to help people buy houses so its cool in that regard, eg you can get an account that gives something like 12% interest pa. The money can only be touched to buy a house. Not too bad, ey. Better than my 6.2% term deposit account, that's for sure.).

Plus, I don't think I need all that Americanesque excess, nor do I have that Americanesque greed or lust after material objects.


The problem is Americans think they are entitled to these things, not that they need to earn them. The banks facilitate this by giving loans; "You can have it now, then work towards it, isn't that grand?", however a lot of people lose motivation to work once they have their reward. And then of course they have the nerve to cry about how unfair it is once they lose the reward that they never earned...

EDIT: Oh and I thought of another thing. You think the bank like having to hound after yo ass after you fail to pay them? They already forked out a couple of hundred K for you to buy a house, and then what kind of returns do you think they get from that? They earn nothing until you start earning. Loans basically work because it is assumed clients are good natured and pay up. If they don't banks cut their losses, put a big -over-9000 on your credit rating, and gtfo with your stuff to try break even.
Essentially what the video is saying is "Americans are entitled to free money". At least, that is what the first few minutes say, I couldn't sit through it.

EDIT2: Also I like how 'the American dream' is to fit nicely in to the homogeneous sea of suburban houses...

Why don't you read The Great Gatsby by F. Scott Fitzgerald instead of watching this.

I mean it's just an opinion but whoever made that seems a bit biased. Going to school would definitely not hurt your chances of achieving whatever you want. Money can do anything you want it to.

I think you should watch it all before you post in this thread.

Eh, I watched it all, and yes, I agree that it comes off a bit biased. It is basically a conspiracy theory, and while it makes some good points, on the whole I think it misses it's mark. It's odd because it seems to be against banks and the people behind them, while also being against any sort of government intervention...It almost amounts to "Yes, free enterprise...except for the banks." Or something. Honestly I stopped taking it seriously when it got into the shadowy group of people who supposedly destroyed the US. No one group can be blamed for the USAs current economic shit tank, the entire system was obviously flawed in many ways for a number of years.