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| The economy, is it good or bad. (Page 20/181) |
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Formula88
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AUG 08, 10:15 AM
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| quote | Originally posted by Pyrthian:
Detroit is completely desolate due to outsourcing.
I myself was waiting for my daughter to finish High School - which she just did - and I am outta here.
I like Michigan - but - there be no work. if there be no work - there be no mortage being payed. so, how does outsourcing NOT cause this? how does lifting up foriegners over americans help? |
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Outsourcing is a symptom - not a cause. You have to ask yourself WHY there's so much outsourcing.
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Pyrthian
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AUG 08, 10:21 AM
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| quote | Originally posted by Formula88:
Outsourcing is a symptom - not a cause. You have to ask yourself WHY there's so much outsourcing. |
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because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?[This message has been edited by Pyrthian (edited 08-08-2007).]
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Red88FF
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AUG 08, 11:03 AM
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| quote | Originally posted by Pyrthian:
because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?
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Was just reading a leading news story this morn about lead paint and children's toys made in China,,,,,nice. People need to wake up.
Housing is starting to look like a chain letter scam. If/when the gov. cracks down on lending laws there will be a correction, oh but don't hold your breath to much money in taxes for the SOB"s brought in by excessive pricing. That is why they are going to allow these 40 and 50 year loans. Being as we already own most of our home I hope the we get to sell why the market is high though. On the other hand since we have been responsible and not taken ANY equity out of the home even a 50% drop would not change our lives much other than theoretical choices for retirement and the kids inheritance
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fierobear
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AUG 08, 11:24 AM
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| quote | Originally posted by Pyrthian:
because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?
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You forgot one very important factor, one that may be tough to face. I mentioned it already.
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texasfiero
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AUG 08, 11:29 AM
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| quote | Originally posted by Pyrthian:
Detroit is completely desolate due to outsourcing. SNIP |
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| quote | Originally posted by Pyrthian:
because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?
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or union contracts with their "negotiations"?
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Toddster
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AUG 08, 11:39 AM
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You're right on both counts but interest rates change from minute to minute. I could argue that they are up or down if I am willing to be flexible on my time frames. My point was that, on the whole, interest rates are at or near all time lows even if they have ticked up slightly over the past year.
As for Prices, you need to take inflation into consideration. As an example, gasoline was only .30/gallon in 1918 but as a percentage of income it is actually cheaper today than it was back then.
As for this thread, I congratulate the usual suspects and their profanity laiden posts for turning a terrific thread about an interesting subject into trash can fodder...AGAIN!
I'm outta here before Cliff round files it.
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Pyrthian
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AUG 08, 11:44 AM
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| quote | Originally posted by fierobear:
You forgot one very important factor, one that may be tough to face. I mentioned it already.
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oh no, I dont dispute the wage difference one bit. but, if everythign else was equal - the cost of shipping would cover the wage difference.
the cost of manufacturing is WAAAAY cheaper when you dont have to protect the workers or the environment. if Kwi-Chang gets his hand squashed by an unmaintained machine - big deal. throw him out for being stupid, and get Kwa-Ching to run it. when his hand gets squashed - next - until the machine finally fails due to to much bone & blood build-up. yes - over the top. when the machines need new fluids, just open them up, let the fluids drain into the dirt, and re-fill.
and dont think businesses wont do this. our businesses would if they could - and in the past - they have. we should NOT be forced to compete against those who do. we have standards, and everything sold in the USA should also be made to adhere to those standards.
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Toddster
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AUG 08, 11:54 AM
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| quote | Originally posted by 84fiero123:
There was a thing on Good Morning America today about how mortgage lenders are now filing bankruptcy to protect themselves from all the bad loans they put out to people Turdster sold homes to.
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Just so no body is confused about this point, I am NOT a mortgage broker. I don't sell loans. And none of the people I have ever sold a house to has gone into foreclosure...not one.
Continue your slander fest troll boy.
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madcurl
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AUG 08, 12:41 PM
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I agree with others about sub-prime loan individuals loosing their homes; they were in over their heads and sub prime loan start-up businesses where motivated by greed. As for the sub prime loan businesses filing bankruptcy (I'm not feeling sorry for them either); theirs a sucker born everyday and a company willing to take advantage of an opportunity.
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Formula88
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AUG 08, 03:50 PM
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People with sub-prime mortgages are today's version of the stock speculators buying on the margin in the late '20's. The prices just kept going up and up, so they didn't have to be able to afford it - just get the credit and flip it for a huge profit after a while.
Except when the bubble burst. In '29 they couldn't make the margin calls and many people were bankrupt over night.
Today it's the ARM adjustment and mortgage payments. They can't make the payment and can't sell the house for enough to pay off the mortgage.
Luckily we work on enough credit today that it softens many financial blows. But it remains to be seen just how widespread the mortgage fallout will be. There's going to be a lot of people who made stupid choices and bought way more house than they can afford lose everything, along with the mortgage companies that financed them. I doubt it's going to devastate our economy, but it will have an impact.
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