Comments by "May L" (@MeiinUK) on "How the 2008 Financial Crisis Still Affects You" video.

I'm so sorry to hear that.
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@harris977 : You know, I ... I would envy such people when I first started out in the sector.. and women also screened out too. But now, having been in lockdown.. and seen what has been built. What, why, and how. If euthanasia on the NHS existed. I would take that option? Cos now, I can see the entire big picture. And that itself is not a joke. Putting that kind of algorithm into those tech, does not help the situation and the overall economy either... I find myself weirdly shouting at... some people that I have come across, living in my old grandparent's house.. without my knowledge... and what are the legalities of that? Cos proof, and justifications are all deleted?..... A lot of criminal activities... people taking what is not theirs.. and justices are gone... "Because the machine, calculated this, so now it must be right"...
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It is so weird how the world turns out... cos... when I was at uni.. I was also researched into tech areas.. which is also related to banking too... and if other.. well.. if only I was also hired as well... Cos I thought that once you do, or did, you would be able to get in as well. I have heard so many people, that is qualified finance people, not be able to get in... Cos if they did, would the crash have happened? Wouldn't the qualified people knew how to mitigate the risks ? Or to even stop it ??....
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@nisha13139 : In a way, they mistaken and misjudged the situation.. because.. if what this video is true.. if you do not equalises in some ways now, and hold tight and keep things going... there really isn't a next generation to carry on any way? And if there is a population issue... then it means an actual migration issue that needs to exist later on. And yet, those who are skilled... surely needs to be trained? Even like China is playing catch up... their most skilled people are not skilled? i.e. Skilled is slowly taken up... i.e. "I do, I internalise"... Imagine, digitally.. the entire world just "equalised by default"... but yet.. we still have people that cannot read, speak, or write. Not really. In a way, technology has... increased our "socialising", but the "doing"... not many are educated to do or know what to do? I said to an ex-colleague once..."I am giving my 6 years of degree, and masters.. and my 8 years of working experience in this sector, all crammed into these references notes to you, so that you do not make a mistake. Why did you bite me?"... The lady does not speak English. Earns more than she would have in her own home country. Came here on a child visa... and there are people that helps her past her own English tests. And yet, the government keeps doing this.. for opportunities or for humanity. And yet... there are far more educated diplomat's children... from the commonwealth countries that would be a lot better than she is. I cannot believe that life is where it is now... from my father's 1970s life... or rioting.. and fights.. for some stabilities in the 1980s... to the uncertainties of the 1990s and 2020s....
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@TheJeremyKentBGross : I still have not watched The Big Short... and this whole idea of "social media". I don't get it, to be frank. I suppose this entire video... allowed me to back read.. what literally has happened. And what was the cause and effect. I cannot speak for all, but I presume like myself.. many people literally.. were running around like a headless chicken then.. trying to rebuild back their lives, in some ways. Or another. I don't understand who is the actual... country that benefitted WW1 then. You mean the US, or Germany ? On the notion about race or gender.. didn't most people then jumped onto the internet.. and then that self doubt crept in... because "everybody" was online? And in this lockdown, "everybody AND their dog" was also online. For the very first time. This isn't really a normal existence, you know. It really is not. I do not feel that the real economy.. or that with the addition of all these things.. that anything would be able to be built back up. People are way too confused.
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It's funny... I've also worked in mostly internal finance roles of companies too. And I couldn't believe my position. Even now.. I still cannot believe it. Especially when I found many accounting errors... I was so shocked that, I actually want to walk away cos I fear that, I would literally be accountable... or liable. But I think this.. if we are honest for the next generation to do. I am most certain that, the next generation has to ensure stabilities. And ensure that it is correct. Cleaned. And appropiate. Something which still stand in my mind of... what George Osborne stated... is that.. Families have to stay together more. Some families I see, are more or less around 2-3 generation living under one generation's savings. If they are lucky. I could see that, why some of the people in the UK got their MBEs and so forth. I think it was one or two actual MP or was it Lords that declared that they are gay, and therefore sacrificed their own companies.. and gave their entire lot of profits into society again. I never knew that this was.. what it was... Similar thing too in HK. Chow Yun Fat.. he gave away his wealth... from his movies to charities. I really never ever knew that. Well... even in his case.. this happened way before the 2008. I see in my peer group. Many of us, have decided not to have kids too. There are so many educated people in this world. And to recover, makes sacrifices really. I also do not buy in that argument of.."there is not enough people"...
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If you do not understand... Credit Union is like Building Societies in the UK. They are more or less like a mutual. Or a cooperative. They run differently. Plus, there is often a list of shareholders that sits on the board, to dictate their risk level.. or whether they are oversubscribed or not. Judging the video contents... it seems like... the rules were relaxed on the IB.. I always associate it differently in my minds. Cos it was as such in the UK. We have a smaller circular... classified as retail/domestic banking. And then we have investment/international banking. They run in two different circles. So the two should NEVER meet. But something changed.. I think it was the IB debts.. or whatever you guys had... it reached us here in the UK.. and then we had to react. This was how.. I think maybe it was deliberate... or maybe not. Only ONE bank... gave a lot of 100% loans... All the other small building soc... would not have done so. I now realised why... In the end, only one entity went down. Not the rest. So then.. the building soc.. got.. absorbed by the government, and we churned it a long time before spitting it back out into the market. My friends, even from local government, lost their jobs.. and some found jobs in the charity sector. Whereas the other one just went into early retirement and watched his pension. He's been living like that for 10 years? Most people are banking on their actual.... pension fund, but they live frugally. Not many people managed to pay into the state pension for like 40 years... It wasn't real.. and... it didn't happen. The promise of the actual....."We will lock in the triple pension pot".. is really, a way to say..."please stay with us, as long and as much as you can.. cos we NEED you"... That is just another fake promise in all honesty. I can actually realise why people go to war now. When tough is tough like this... I too would want to blast myself in a war. For us in the UK, we may or may not roll up into the EU. I think that was how things were. But the current reduction in lending in credit unions/building societies is a good move. And then you have the markets.. that is running wild from the global situations at the moment.
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I now realised why we have so much e-waste as well... it then means that, those office equipments were or must have been liquidated... a lot.. after that. And all those stocks, were moved or sold on.. Maybe I was lucky to have resided in a small city that, had cushions or had small businesses, that acted as a cushion, cos I didn't foresee the big events like this.... Not at all. I was also on the road as consultant back then as well... Had no idea of the continuous daisy-chain events.... one after another. Right now, we are indeed trying to equalise, aren't we ? To increase growth and reduce inequalities as well.. to raise the next generation etc... Now I realised why so many of my friends went to work in the charity sector to stay anchored... whilst the institutional entities reorganises itself...
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There is a better well put together video from a UK source and not from this source. Which tied in nicely with actual reality of what we personally experienced... It made more sense.
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I think the key is to hold the index, isn't it ? Nothing is certain any more. So... but average out upwards is always the case. Or something to that effect.
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I am not sure your boss could have done that kind of deal.. cos buildings are quite regulated affairs as well? And America did indeed have "retrospective lawsuits", which they could do and enact as well. Which I know that they could do so... So.... and this explains and settles a lot of things as well.. Cos basically California is just basically... it didn't want to crash, right ? So... this explains why the area is now the way that it is. Some people aren't fully qualified sometimes. I still see this now in the UK too. Amongst certain individuals etc... So... for the record, I used to work in a mortgage company, a building society in the UK as well. So I KNOW how the law works.. and what and why.... Some people are being abusive to the market. And that itself is illegal as well...
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@tbs1533 : Have you read this ? I am discovering the WHOLE new world of "gambling mechanics"... https://en.wikipedia.org/wiki/Eleven_Sports When Trump came into power, first thing he did was to play the media. And then he shut down the casinos.. is my understanding.... I watched a video about this, before... and was very surprised that Trump.. was here, during the FIRST depression.... Now.. Now I think this is a cyclic thing. It goes round the bloomin thing !
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@seamusmcfitz913 : Even now with so many techs.. It has to have human intervention any way.... Humans double check with machines as well. Even machines generate something, the humans have to double checks too.
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@MJ-uk6lu : I came to realise that, there are blind spots.. and it gets worst as well.. and everything seems to be just "an experiement" ?? I have so many of my uni peers who have lost and were recruited to banking as well.. here and there.. and then fired etc... And yet.. we now see this kind of "global high street bank" scenario rolling out and playing out now.. which I don't get. I don't understand it either. I really don't ??? And these so called "I just paid for an entire building"... like it is my own house, without the depreciation and tax deduction on a building, that kind of thing? I didn't think that was possible. (I learnt about the taxation thing from a friend.. an acturary friend).... I mean.... It is just so.... messed up ! Ironically, I watched the actual youtube video.. about how the insurance companies, didn't protect certain buildings as well.. that kind of thing.. and when Lehman collapsed.. and the insurance companies did not step up.. and now, with these so called "marketing" techs.. and these so called "apps upon apps".. doing sod all. Really. It grates my goats. It is like.. all hell have broken loose !!!!
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First of all. Find the frauds. Find the real businesses from the non real. Then readjust and tax the remaining. Can't continue to "fake it, til you make it" right ? Holding back data or hoarding data's isn't going to cut it. Not really... Wiping out into isn't going to cut it either. Hacking people's equipments to force them to buy another one. Release date news to force people to spend or to buy... It can't keep this daisy go round. Can it ?
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Oh my God.... I am similar too. My pension was basically robbed by one of you guys in the states. I had no idea at that time why.. we had to outsource to American equity firms. So.. out went our pension pots as well. And then the UK government stepped in to intervene. Cos basically it was cash rich. You guys robbed us. Today... I see those in power now. I bet that, they orchestrated those decisions... Didn't Rachel Reeves worked for BOE back then ??? Robbed Mike to give to Rachel. That is how it is... The things I remember... I remember my auntie... went crazy... lectured with my mother.. about the fact that.. I was..."really bad and cannot hold down a job".. Even now,.. in recent years, into my 30s and my 40s... I hear these kind of shouts.. The number of times that one wants to kill themselves in immense. What do I do ? Call the police? The police won't come. They would just shove it under the carpet.. cos the economy is picking up. I know how they think. It is inevitable isn't it ? Bury your head in the sand.. and you would be able to forget about that. For my mother.. I think she eventually stated clearly.... "It is okay, if you do not marry. That is fine." When she could see that, MANY couples.. in HK stayed married but did not have kids... and were trying to save money, cos they have experienced many many MANY financial crashes... (I bet they were hacked, in hindsight. Or that it was a government thing. Cos how could they have crashed so many times?) ... People lost a lot of money, many times over. Wasn't those the Asian Tiger days ???..... The current situation is extremely artificial... The world is a 7 billion population. So... I mean. Now I see both of my cousins... one with two kids. Really young. But he just spent his savings on some machine before lockdown, which he can never get his money back on. The other one, with two kids as well, and a little bit saved up. I do not know what will turn the corner... When you are in a small community you know exactly what needs to be done. But when you are into a globalised world... You do not know which way to turn ????.... The internet really helped people AND brought them down too.
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@souvikrc4499 : So basically the whole EU project was working then basically.. it was to do with integration isn't it ?.... Cannot wait for the communities' behaviours of Europeans soon. Like the inequality are not increasing the crime rates already... Including east European ex police in on the drug deals to do with anti EU establishments. Dumping the southern Europe into debts is always going to peeve people off... Funny thing is that the overseas market and assets.. those people don't want to do deals with new European overseas lenders... Nothing has charged except that now.. it is a different ownership. But they aren't handling the situation any better.
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Wise people would be... "I will build a wheel. My son will build the chassis." Wise people would be... "I would love to build that bridge there... and then my daughter might just find somebody and that they can build the garden near that patch there... " Excitement is.... "I saved this idea into our file, from 1970. I am going to hope that our new recruits may implement this change now. I have been waiting for a very very very long time.... This is an extremely exciting moment for all of us. "
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You can start with the USA side then. Cos according to a UK YouTube video telling the UK perspective.... Barclay's offered to bail out some of Lehman's assets. If the USA government backed it. But they refused !!... And yet.. London .. City of London is full of USA investments ?... From yester years ? .. is this a joke or is this a moronic joke ? If the EU was not forcefully to be integrated to begin with. Would the reduction of the British empire be this dire ?.... I am livid.
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I don't really understand... that comment about how that guy in the end got the Noble Peace Prize ? Didn't Obama got an actual prize in the end? It seems like such a long time ago.... Even with YT... I don't think we can learn, and recover any more... If the internet bubble was a thing. The social media is now also a thing too. So what next after that ???
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@Matanumi : Before the 2008 crash.. investments went to SE Asia ... And the markets kept crashing then. And people kept raiding it back up etc. So by 2008.. it isn't as unpredicted... It is just that with technologies.. it speeded up the processes of crashing.
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Explain to is what the Glass stengall. The thing is even though a law passes it doesn't mean that the behaviours of the people doesn't mimick the actual effect of such laws etc. Then later reintegrate back to its fullest. And roll back the techs etc...
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What people should've done is to quantified it. Hold it tight, and separated it. Cos you didn't know.. that China, also sent their satelites up to the sky, did you ? Around 2011.... I think that was when the world came crashing down.. and they have not recovered at all. Even now. Despite them making a lot of mobile phones and whatever.. It can never settle, ever now.... A bus fare from 15p to the now 2.50 ? 1,666 % increase.... Or did you not know this ???.... I can see why the min wage were introduced etc.. and whatever.. but that is insane, isn't it ?
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Really ? So this is what happened... ????
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But Iceland is a shall country. Other countries had trades... And hence if they couldn't trust their own people. Then they have to share the burden with other countries.... As an anchor. But obviously.. they probably don't know what to do either. Cos it will come back and hit us as always.
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I did the same, but I spent it all. My pocket money, from when I was a child. I spent it all either on friends, or those professional friends also similar from Europe as well who couldn't afford to eat. And then I also got into debts myself by being in an actual job too. I had an ISA.. only to have to use my money... to buy the shares of the company that I was working for. My actual mortgage. My rental. This is like... and travel expenses AS well... I did not play that BTL like so many people did. But judging what everyone knows now.. surely.. they themselves have literally.. ARE the...1) company, 2) the customer, and 3) citizen. Do you realise that, this has what it has become ? A single person company, their own customer (cos nobody else has money to buy anything) and 3... their votes... A lot of people cannot afford to vote, cos they cannot even get access to the net. LOL.... As much as I am ranting online here. I know that, I am not the only one.. who was at some point struggling with the internet payments as well. How can people afford food, AND the internet too ??? The government stated that most citizens are to receive free internet.. but... so many cannot afford anything. And yet, those telco use their money to boost sports instead. But so many people do not want to watch or stay in sports. This is another one of those precarious thinking of the UK government... When one of my bosses stated "May, learn NLP...."... I completely shut down. Sorry... but I deserve so much more in life. I deserve peace. I do not wish to learn more languages.. which is of no use to me. I do not wish to learn more and more. I do not wish to butt my head against a brick wall. I do not wish to be gaslighted. I do not wish to be randomly heckled.. not knowing what the other person is talking about cos I have not had the time to switch off. The only steady work, is actually to be a politician. So many people complain that they cannot find the right candidate, but they refuse to train them as well. Well.... such is life. We now have a Premier in China, that has not even finished high school, apparently, according to some journalists. And he holds the power of 1.4 billion people. And then we now have a Prime minister... who has also similar absolute power... His father in law also owns like... double digit billion networth for Infosys, if my understanding is correct. How did we get here ???
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@ef3675 : In the UK, the "loans" for students, are really to actually bring round the government's control on the financial sector. It is now a case of..."state money"... and "investment banking money". There isn't anything inbetween any more. It used to be "state money", investment money, and retail money. They were all differently managed. And every since the global financial crash.. and then it reached us... Many students do not get grants any more. They have to be forced to borrow off the government. And really... this is just a holding space, or to lock people down to work for the UK government. Really. I think now it has become such that, if some of the younger people who works in the government sector.. They themselves would literally be exempted from certain bit of taxes... i.e. Means-tested. This is why, even though some people say that there are jobs... I worry that, the company does not have enough leverage to keep me for a while. Some organisation now also have an actual "fixed term" only.. I do not even trust THAT any more either... This is so scary. This is why... so many people often say..."unless you are your own boss"... the risk is too high either way.
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@CeltonHenderson : Be good to both your parents, and remember to always write "I love you" to them. And of course.. whether they will have a happy life thereafter, is ALL going to be down to YOUR effort... ;) No pressure. If I were you, I would go into politics... and really try to turn things around. Like.. I think Bill Gates did similar to the UK.. which is to squeeze his portion of the wealth out from the company.. and he secured it as part of the charities. So therefore.. whatever happens to the market, it won't affect him too dearly. So then, his donations... would literally.. help the local economy, in a direct drop shot of money. I think similar thing is happening here in the UK as well. I know that in HK, kids were raised on funds as well... As to the future model... I have no idea. I don't know if the FinTech is meant to take over... or... Cos I don't know whether all countries are meant to follow a similar trajectory to that of Japan. They went into recession for a good 10 years... They crashed in the 1990s.. way before the 2008. IF... you literally finish college.. and then.. consider to work in the sector that literally would get donations from those oligarchs. And be ready. And literally live off grid. By that, I mean, ensure your actual house is sell sufficient. Without extra energy consumption and things like that. Then you would NEVER be worried then. Anything you earn can add to the whole scheme of things. I am admiring this couple... cos they have done what a lot of people have started to do in the UK too. Which is to use their existing bit of savings, and pool together with a larger bank and then build their own house for a couple of years ? https://www.youtube.com/watch?v=22SkAp2KBHI That is what people did, literally. So are there any more commerce? Not really.... If we wanted a ESG... then surely, we would have a circular economy. i.e. What we ship, we turn back into raw materials and recycle it backwards, and it goes into the investment area, and it goes back round again.... but for now, there is a disconnect. A lot of people are now changing their houses to be a sustainable one. If you could achieve that, and then also ask your parents to move back in ! Or maybe have separate units and rooms for their own use ! Never say never... this is like the most unconventional times... nothing is conventional... and anything extra is a bonus.
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@connormclernon26 : I think I am going to be sick... People used to be quite good as well.. i.e. They literally get ready for any corporational changes, and recruitment agencies would've literally gotten ready to swap people in and out? But of course.. I mean... That is, if everybody played their roles... But somehow, often you would still get those foreign influences too. Since it is now well and truly into globalisation....
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@Ascalonn88 : Right now ? Right now, you do not want to save. What you should do, is to actually reverse that... and literally reduce outgoing for one. Use and reuse things. As much as you could. Then... Find things that are useful, and to create them as well. Figure out some stats.. participate in political situation. Gather with other mommies and daddies, and discuss the future.. with them too. And rally round, and then rebuild a tiny little community and society. If housing is down, create housing. If no food create or open a store. Find problems to solve I guess. Ask for advices and classes. For example.. in this climate, it is better to grow larger... and HOLD.... Then for the remaining people, they need to diversify and do other sector work. For example.. in the UK.. we have something new called..." Right to build"... so if you have some kind of housing.. you can use that, as a collateral to build a new build. With some government grant? The thing is, if TWO families... money CAN be pooled together, you can find a lawyer, draft up the deeds or whatever, and then build new builds for BOTH of your kids... And calculate it so that, it is all both paid off? So then, that is your current generation of housing taken care of, your next generation's housing taken care of. The thing which you want, is to earn.... earn for current generation's food, and amenities.. and savings... (When you get older, you can wrap the property into a personal trust for your kids. Tax-free.) If you build the house such that, it is self sufficient as well.. then... in terms of energy costs. You could also, try and sell small local produce. Do a small batch of farming, locally at home, or whatever it may be. Just keep watering it. Add that to a local producers' list... Even if you do not have investments, does not mean that, your child does not have a future. Maslow's hierarchy. Roof. Food. Then skills later.. or whatever. Research and research for other sectors. Like if there is EV cars to come.. then can you drive EV cars. Or... can you do logistics.. and help others administrator orders to and fro etc. Help other do their taxes, or cleaning, or admin. Even if you cannot get a college fund.. consider looking for European scholarships for Americans? This is a real thing. So if your child is like 13.. future plan.. do some basic researches and things. For example. Or have "Working apprenticeships/holidays"... Or even help formulise one and organise one, say ? In the UK, we have "working holiday programmes" for 17-19 year olds. BUNAC I think it's called. Or to teach English abroad for a single year. It can be a fun holiday, as well as it could be an earning possibility as well.
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But nobody can know this since in those days unless you were the families involved. You can't change or decide ? And then new generation of workers just literally do as they are told. Studying history.. how many could do this ? Is this why the USA tried to raise other countries to help anchor them ? And misleading the rest of the world in how capitalism works. But what now ? You cannot swap the present for the future. No movements...
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