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!
To the best of my ability I write about my experience of the Universe Past, Present and Future
Top 10 Posts This Month
- Blumenthal urges House to pass Russia sanctions amid "extreme urgency" in Ukraine
- Myasthenia gravis is not considered more prevalent overall in Middle Eastern populations compared to global rates, but regional studies note that patients in Arab countries often develop the condition at a younger age.
- The most interesting fact for me regarding the last 3 articles:
- “Live so that when your children think of fairness and integrity they think of you.” – H. Jackson Brown, Jr.
- Victims' families remember Nazi ship sunk with prisoners on board
- This is part of my research for learning about when the last small ice age was between 10,000 and 20,000 years ago in the Sierra Nevada Mountains
- Rare 1930s Watch Stashed in Old Jewelry Box Sells for $80,000 in Thrilling UK Auction
- It all makes much more sense if you see humans as domesticated Animals rather than something else
- NASA launches its Roman Space Telescope to explore the hidden universe
- is everyone okay after flash flooding in Grand Canyon?
Showing posts with label Greatest Loss of Wealth since Depression. Show all posts
Showing posts with label Greatest Loss of Wealth since Depression. Show all posts
Sunday, May 4, 2008
Subscribe to:
Posts (Atom)