Quote:
Originally Posted by L.P. Farnsworth
Some guy trying to buy a new vehicle he couldn't afford is all I see here, not a 'credit crunch'. Credit is not some God given Right, after all.
There is all kinds of cash out there whipsawing the stock market up and down, a 500+ jump is a lot of cash pumped in. People really need to get used to the idea that it soaks up a huge amount of money out of the economy when $40K houses eat up $500K in funds that can be spent elsewhere, especially when you sell it to some idiot making $40K and can't even make the payments; you can't have it both ways, no matter what the swindlers tell you. Then there is that almost $1 trillion in consumer debt. You can't drive down wages for over 30 years, and ship jobs overseas while at the same time importing 100 million immigrants and some 20 to 30 million illegal immigrants to further drive down wages, and then expect to have any kind of domestic consumer economy. it just can't happen.
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Let me ask you something, cause you just jiggled something loose in my brain about this.
What is the person making 40 to 50 K a year to do? If they don't own a home and want to buy one, I mean. Some kids are lucky to make 30 (and by kids I mean late 20 to early thirty year olds). Some older people don't ever make that much money. In fact many don't. We can't all be doctors and lawyers or even MBA's. Some have to build the roads and work in the schools and be clerks. With the mortgages set at 150 to 200 for a decent home, the rent also is not cheap. So how in the heck is a person making that supposed to get by?
The reason I ask is I've been thinking about this for some time. The county I live in and the one across the river in Oregon, has some pretty low wages. I've seen places like this all over the country while traveling with my trucker hubby. Regular people just can't afford to buy a house. Not all people, but enough that it makes me stop and think. Now if young people don't have anything invested, that they are proud to work for and that shows they are winning the game to provide for their families, it's no wonder so many are on dope and the rest act like they just don't give a darn!
I'll tell you another thing. Socialism in a few more years will look real good to those youngsters.
