Though this is true in the US it is actually worse than that. Because in real terms it doesn't include the drop in the value of the dollar. So this not only means everything from out of the country costs 30% to 40% more than it did 5 years ago, it means people in the US are harmed in ways most aren't even aware of.
For example, even though it is possible that Terrorists with PHDs orginally figured out how to create subprime loans, most people who actually sold these loans to unsuspecting home buyers through loan companies were only motivated by greed and nothing else. Then they left those loan companies and those loan companies sold those loans in SIVs all over the world and all those people got burnt when the originally defrauded home buyers walked away from their loans that they realized they had been defrauded by.
However, it is important to remember that the entire downturn in the US economy that was caused by the subprime didn't have to happen at all. If ANYONE had stopped subprime loans and made them illegal we would not be in the land ownership disaster we presently are in.
Now, legislation might be necessary to prevent non-US citizens or non-US governments from buying up US land at fire sale prices. Because in the end land ownership has made this country great. Without it we all become feudal serfs and slaves to the landowners once again. This is a very important point. Do you want your children to become slave workers to foreigners? If you don't you might need to support legislation to prevent the mass sale of US land overseas at this time!
No comments:
Post a Comment