Our economy is in the crapper

cap1sucks

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Originally Posted by glass Listen, I'm judging because our economy is in the crapper due to this irresponsible attitude about money. I suffer when you make dumb choices.

You need to learn what has actually caused our economy to get dumped into the crapper. It wasn't due to people not paying their debts at all. That had nothing to do with it. What caused our economy to go to pot was a combination of several things that the American people had no control over whatever. It actually started back in the 1970s when Levi Strauss and Co. was allowed to move it's production facilities to Mexico. They started the NAFTA movement and our idiot politicians thought that was a great idea. By 1980 American factories were going south in droves and you could drive through the Maquilladora section of Juarez, Mexico and other border cities and it looked like the Who's Who of American corporations. But they soon had a big problem because the Mexicans wouldn't work for the pittance they paid for labor. Many of them worked 10 and 12 hours a day 6 days a week for as little as $22.50 a week. The American factories stayed there for only about 10 years and then started their move to South America and the Asian countries where people would work for even less than that. The loss of Levi Strauss & Co. dealt a major blow to the El Paso economy. Unemployment was rampant and other businesses were failing too.

Then fast forward to 1990 or thereabouts. The banks and the real estate people figured out how to monetize the mortgage industry by selling their notes to investors world wide through the Securities and Exchange markets. It wasn't long before they also figured out how to keep track of all their notes and mortgages through a corporation known as MERS (Mortgage Electronic Registry Systems) and make them the assignees of all their notes. That way they could avoid paying taxes each time they sold a note. Saved them untold billions of dollars which the state and county governments rightfully had coming to them. They also figured out how to sell homes they didn't own and notes they didn't have buyers for at the time they sold them to the investors and an insurance company named AIG to guarantee the loans. In order to fill those empty houses and put an actual person in them they illegally inflated the values of the homes by using appraisers who would appraise the home for whatever they wanted it to be appraised for and then sold it to people who didn't have the money and couldn't possibly qualify had their incomes been truthfully stated. When they defaulted another sucker was skillfully inserted into the foreclosed home.

Everybody thought the good times would never end and home prices would always escalate. We would never have another depression. Government kept on rolling the presses and printing more and more money, financing their wars and overburdensome public assistance programs by selling trillions of dollars worth of government securities to other nations and foreign investors.

When all of that is considered it is no wonder we are losing half a million jobs a month. When that many people lose their jobs, their source of income and have to be supported by government it is small wonder that our economy is in the crapper. If people had jobs and a strong economy they would not be defaulting. They could go to Nieman Marcus or anywhere else they wanted and have no problem paying their debts. That's what has caused the problem. The greed of big business and the stupidity of our elected officials. Not the average joe.

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And then you have the nerve to BRAG about them.

No, wrong again. What I have is the nerve to tell big business to behave like the good citizens they expect us to be and and government to Pay your(it's) bills and quit thinking that they can go anywhere in the world, buy anything they want and pay for it with funny money backed by the jobs they sent elsewhere and if their creditors don't like that they can meet face to face with our army, navy, air force and marines who are mostly young, halfway educated and falsely led to believe that they are fighting and dying for their country.

Give us our jobs so we can produce and earn and we will pay our bills. No problem.

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And cap1, keep your religion out of my face, thank you very much. Go worship Santa Claus on your own time. This is about money. Not your personal rituals.

Wrong again. Nobody in America over the age of 3 worships Santa Claus. Yes, it is about money but more precisely the lack of it which is not our fault. And if you want me to keep my religion out of your face then keep your sanctimonious preaching out of mine.

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