Posted on 04/20/2010 11:50:10 AM PDT by 198ml
” My view is that the employer should have a meeting with their employee’s wive’s or significant others”
I tell employees , don’t ever bring your personal problems or life to work, leave it at home.
Well, we used to. But cheap labor means that there is a new cottage industry called 'Technology Transfer'. The chips are developed here, proto-typed here, and the first several hundred thousand are built here. Then, once we get the bugs out - we transfer the technolgy to Silicon Harbor, Mumbai or elsewhere.
WE used to export textiles from cotton grown in the south. We used to make semiconductors here, we used to make TV's and computer products here. But these industries all left.
Why? True, lower employee costs - but if you analyze the big picture, the major players are lower taxes, tax write-offs, dropping tarriffs, relaxed polution standards and other gov't controlled business dis-incentives.
‘I don’t understand this “underwater” BS. Just about everytime you buy a car you are “underwater” as soon as you drive off the lo”
I live in Florida. Many homes in my area have dropped 30-50% in value. A few cases of homes which sold for $1.5 million in 2007 were recently sold for $400k.
The banks and mortgage companies who processed that sale in 2007 KNEW the property was overvalued and that the market would be declining. The appraisers worked at the direction of the bank.
Is it right to walk away from your mortgage. What most of the banks, mortgage companies, real estate companies, title companies, appraisers and so forth was not right.
Two wrongs don’t make a right but life isn’t simple. Sometimes there are no good answers once the hole has been dug.
Are you the type of person who simply uses a person, then discards him when they have served their purpose? How does that square with the term ‘Christian’? Or are you not your brother’s keeper?
Maybe you aren’t a Christian, or only profess to be one while you are in church. I don’t know, I don’t know you - so it would be silly of me to assume, right?
John 13:34-35 (King James Version)
34A new commandment I give unto you, That ye love one another; as I have loved you, that ye also love one another.
35By this shall all men know that ye are my disciples, if ye have love one to another.
“Yes! Dropping the down payment requirements artificially forced prices higher than they should have been in a properly functioning marketplace”
Dropping the down payments simply made more people eligible for a loan. The banks and the govt colluded to artificially inflate the supply of money in order to provide the loans. Large financial institutions were loaning 10 times more money than they actually had.
I understand what you are saying, and you have some valid points. However, a healthy economy always shifts jobs to other places when our comparative advantage allows us to use those workers in jobs that have a higher return. In the short run, those workers are hurt, but our economy grows from this turnover and the consumers in turn become more wealthy from being able to buy those goods and services at a lower price. That’s why we can buy a toaster for $5 and have a lot more money in our pockets to buy a lot more things than if we restricted trade and paid higher prices for goods and services made here. The workers who lost their jobs will have to obtain new skills. That has happened throughout our history (not much need for as many farmers anymore) and made our economy grow faster than otherwise would have without free trade, etc.
“The banks made the loans because the government enticed them to make them”
The banks made most of the loans because they wanted to, its called GREED.
“you have to realize that the person who has the job has no job security because they have no real skills”
So the following people are low skilled?
- software engineer
- network engineer
- database administrator
- architect
- radiologist
- project manager
Very very few jobs cannot be sent offshore. About the only one is cleaning your house which is done by an illegal for 1/2 of what a legal citizen wants.
There is some truth in what you said, but most manufacturing is moved because it no longer makes sense to make it here. Those resources can be used to make more profitable goods and services. Textiles, TVs, and all that stuff is a good example. We should not be making any of that stuff. Let it be made in China and we can buy it a lot cheaper.
Interesting post, true we have grown our economy but at what cost.
We are no where as self-sufficient as we were even 20 years ago. We import food, clothing, electronics, and just about anything else you can think of.
What do we export? This is a house of cards. We are completely dependant upon the stability of other countries for our own survival. If China were to go though an upheaval - it would devastate us. One could argue that the oil prices were a huge contributor to the recession we are all currently enjoying.
At every turn, the gov’t gets more embedded in industry (automotive, financial, medical, insurance) with no signs that they will not continue to expand their fascist regime.
True, we have grown; but like the athelete that takes steriods for quick growth .... there is going to be a heavy price to pay later on. And we have only seen the tip of the iceberg.
I gave up religion for drag racing when I was 8, 65 YEARS AGO!
‘The banks are not making some huge profit off your loan, and the amount going to interest is just math.”
I can see you’re not good at math. Banks made huge profits off mortgages and the selling of them. ASTRONOMICAL profits
Most banks knew what they were doing and did it anyway. They discussed the risks in their board meetings.
You have bought into the fake liberal argument (corporations are evil). If you are that gullible, you will be lead astray easily and we really will go to socialism. If you think banks make risky loans with low interest rates without the government pushing it, you don't know much about banks. The government caused this problem—not the banks. The banks would have never done this without the government. Of course, the banks deserve some blame, but most of it is on the liberal democrats. It's too bad we have so many people on this board that do not get that and fall in line with the liberal talking points.
“The banks and mortgage companies who processed that sale in 2007 KNEW the property was overvalued and that the market would be declining. The appraisers worked at the direction of the bank.”
Why would the banks knowingly over-appraise a property they are loaning money on, especially with values declining? It makes no sense.
But it is the lenders responsibility to help you limit your losses. I assume you have no idea what a short sale is. A lender should be willing to help the borrower limit his losses and a borrower that finds a buyer for a fair price and the borrower is still liable does not put the bank any worse off than it was before.
We each chose our path. If I’m wrong, well ... I’ve wasted a lot of Sundays and thrown 10% of my income away to the needy for no reason. I’ve wasted my time making many friends from total strangers, and have wasted my time helping those out who were less fortunate than I.
If you are wrong ...well, I wouldn’t want to be you.
‘Why do you think it ruins your credit genius?”
Because the credit score is a measure of how profitable you are to lending institutions. They’ve created this system and marketed cheap credit to people who could not afford it. They knew what they were doing and don’t want to take the negative impact of the business risk they knowingly accepted.
These are the same folks that created a credit system which makes it easy to commit fraud, steal another persons identity and then charge the individual to fix the problem the bank created.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.