is because U.S. multinationals have offshore outsourced to China. It's pretty ridiculous to demand we ruin our economy to save another nations all become some MNCs offshore outsourced.
I honestly do not know the real effects on the U.S. economy if China's economy goes to 5% GDP growth instead of these 8,9% levels. It's not like U.S. MNCs are moving jobs back anytime soon, even though they should.
Already there is a huge increase in ID theft and successful and unsuccesful thefts involving bank accounts and other types of info. handled overseas. Again, this is so predictable. So while the nonthinkers keep repeating "war on terror, war on terror," they are all to happy to have banksters and big corporations farm out sensitive personal and financial information overseas where protecting that information is impossible and even if it is stolen, it's impossible to hold anyone accountable, especially when these same banksters insulate themselves purposely (hey, jokers, we know every move you make, it's obvious) through contractors and foreign courts are much worse than American courts at protecting American 99%ers (especially when it would be a private American vs. their own citizens). And when you raise these issues with any politician and govt. official who should care about our security and sensitive information that terrorists and criminals love (e.g., law enforcement, bank employees, politicians), they give you a blank stare and repeat, "profits, job creators, profits." If you want to give them a stroke, make them choose between ID theft + aiding terrorists vs. corporate PROFITS. Oh my, what to do?!
Well, when no one trusts banks or corporations with any personal information when thefts are happening monthly and people's medical information is abused, I want those same dopes to keep spewing, "outsourcing good, profits, job creators, NAFTA, etc." as modern society grinds to a halt as private citizens can't trust the govt. or law enforcement or banks to protect their interests and everyone resorts to dealing solely with people they know. And both parties promise more of the same? Truly dimwitted, predictable because of the corruption, but dim nonetheless. Perhaps holding those responsible, you know, because corporations "are people too" for treating our SSN and bank account and medical records so carelessly personally responsible will fix this situation within 24 hours. Jamie Dimon causes someone's bank account to be drained or some company lets patent secrets be stolen overseas because the CEO wanted a bigger bonus in the USA and they are held personally responsible because "corporations are people too" and things get fixed ASAP. See, people can go to prison for ID theft or aiding theft or violating security rules and regulations or endangering people's lives and welfare. So, you want to be treated as people, I'm all for it. Now you're personally responsible. Can't take all the benefits of limited responsibility and still claim you are people too, can you? So choose.
The collapse of the PRC has started. The two most vulnerable pillars of production (same as the U.S), real estate construction and automobiles are now producing 65 percent more than sales will allow. The State Security Bureau is fudging the statistics. Sales of both real estate and cars have basically collapsed.
Soon we will hear howls from the internationalists about why we should save China by increasing trade. This will mean accepting the shoddy, dangerous and inefficient Chinese autos.
Just watch. This happened with Japanese cars in the early 60s and will happen again with Chinese cars. Most likely, a NAFTA connection will be used to funnel the ChiCom AutoTrash onshore.
Dirt farming, or subsistence agriculture is the occupation of 60 percent of the world's population. That 60% is the bottom 60 percent of the income strata . I am sure the Hierarchy wants all of us to become sharecroppers and get back to the Dust Bowl sooner rather than later. The commodities you hoard will last weeks. After the store shelves are bare, you will need kevlar for insulation and steel shutters when it really gets bad.
So, if I read the Fed Minutes correctly, the Fed's big idea is to lower interest rates further. We are below the rates of 1932 on almost every key interest rate. Who wins with rates this low? Don't say mortgage debtors or car buyers because at these rates the banks, or car dealers get incredibly picky. Fed goons will not say, buy up mortgages like the New Deal, or build something useful and productive.
Bank arbitrage is the most likely motive. Borrow at near zero and then speculate. It no longer matters if nobody will buy CDs or MM funds, the Fed will step up. Then, of course, you get your head in the hog troth table of speculative nstruments.
Banks will take the Fed money at zero, create almost no value
and everybody but the banks loses. As long as we tolerate the BS. The Crisis, and the Struggle continues.
A little orchard, a little farm, and let the hypercompetitive criminals tear themselves apart and look for more victims in their quest for billions more they want to steal. Pre-2000, and especially pre-2008, this kind of thinking was for hermits, Howard Hughes "nutters." But looking around, why not? Peace and quiet, fruits and vegetables, and taking care of those you know and truly care about. Old school lifestyle is now paradise and the long-term unemployed are being forced into it - getting the message, modern 1% society doesn't want them and won't hire them, so what options are left to survive? No HR, no politicians, no banksters, nobody keeping you down.
" I'm tired of having to learn about this crap and just want to be able to trust someone in power not to screw us over at every turn. J-1, H-1, O, we just want to go to school, work hard, and save a little cash."
Forewarned, forearmed, the price of liberty is eternal vigilance." ~ Frederick Douglass
Get out of the maze and get back to basics. Get a 2-3 acres piece of land, build a small home with septic and well and Solar and enjoy yourselves growing your own food. To hell with the greedy banksters and corporations. Leave them to their own demise. They will eventually all fail. Stock up on bullets and toilet paper and prepare for the collapse that is coming our way!
We started covering residential real estate only because there is so much B.S., lies and crap coming out from these vested interested parties. Our real focus is on middle class, jobs, income, macro economics.
That said, with almost every statistical release, we point out how wages, income are repressed, the majority of people simply cannot afford a $200k home, never mind a $350k one as you point out.
Then, these "investors" gobbling up REOs and "flipping" them to make a profit is yet another example of trading shelter like dominoes for profit. It simply shouldn't be this way but residential real estate is still just considered another commodity for profit instead of providing stability and homes for Americans. I don't know the full history here with residential real estate, mortgages and regulations but I sure do know packaging up mortgages into derivatives for sale is a major part of the problem.
Bottom line, this is just another example of sucking the middle class bone dry. Regular people cannot afford $1000, $2000 a month mortgages.
Come on, banksters need it, they need it, just give it to them. Otherwise they might not get their $20 million bonuses and who knows what might happen to the megayacht builders then (Fox covers them sometimes - they ignore destitute Americans for some reason). But megayacht builders might suffer . . . ignore the tens of millions of people in poverty, think of those 200'+ yacht builders.
Pathetic banksters, spewing all that shite about free markets, capitalism, Ayn Rand. Push comes to shove, these banksters sit on the bankster-owned Fed, borrow $ backed by taxpayers (FDIC) and loan it out at anything but 0%. The Fed, the crackdealer of all crackdealers, is owned by the banksters, so when the addict controls the dealer . . look out! Expecting Dimon to give up his seat on the NY Fed Board (for derivative bets and losses, price-fixing commodities, overcharging and foreclosing on soldiers, MF Global theft with Corzine, etc.) is like expecting a drug addict to give up his job at a meth lab - ain't gonna happen. In 2012 the entire world not watching the Kardashians and Blue vs. Red propaganda realizes the banksters have control of free money, dictate fiscal and monetary policies, and all the QE and ZIRP to the moon results in exactly 0 job creation but inflation (and losses to those depending on fixed incomes like the injured, elderly, disabled vets, etc), 0 job growth (except for coke dealers and prostitutes), but those boys can buy more coke, more yachts, and more duplexes in Manhattan, and that's all that really matters to the 30 million unemployed, isn't it? And with all that loot, they can siphon off their bonuses and salaries, inflate Manhattan real estate prices, buy a new Van Gogh (who would take a dump on banksters if he was alive today), and Bravo TV can create more shows showing how good Americans (i.e., the 1%) have it.
No tax revenues as Americans can't find jobs so asswipe politicians demand the people they helped force into unemployent now suffer more as they cut social aid, brilliant Americans that could cure AIDS, diabetes and cancer, now living in tent cities and viewed as unemployable. Vets trying to convince Home Depot HR that they are qualified to stock shelves (WTF?). Prosecutors that could tackle banksterism watching as banksters help terrorists. Teachers and nurses raiding their pensions to pay rent and try to survive for 40+ more years. But Fox News and Forbes and CNN Money and politicians of all stripes continue to push this "less regulation, less taxes, more free money to banksters = job growth."
Hey, assclowns, there's NO JOB GROWTH. NONE. We need massive jobs programs that just don't build highways for select few contractors or keep police in this city or that city employed. We need to punish those that enjoy the protection of being incorporated in America but do everything they can to destroy Americans through outsourcing and visa abuses (if you want to enjoy the protection of America's laws and our government, then you will share in our burdens as well - Lesson #1). We have scientists, engineers, attorneys, researchers, machinists, artists, vets, doctors, etc., etc. dying out here because of your actions and inaction who desperately want, and need, living wage jobs. Dying. Stop your lies and your endless delays. Every honest study in the world is showing the middle class is being hollowed out purposely. Fewer taxes for the 1%, less regulation for the 1% (like the repeal of Glass-Steagall and the outsourcing of every job known to man + open borders) is killing Americans. Every time these people talk and push the same 1% agenda millions more needlessly suffer. But hey, they don't care, they're rich and corrupt and it's time to take a cruise on a megayacht with Bloomberg and Corzine and Geithner with some Colombia snow (imported with the help of Wells Fargo/BOA/Standard Chartered/HSBC/and other bankster money launderers) and escorts -just don't bring Big Gulps - those are bad for you.
This is fucking bullshit!! How do they expect first time home buyers to compete with the investors, you know they're cutting deals with the banks and agents.. Complete and utter bullshit, I have been looking to buy a home for 1 year, and all of the good deals are taken before they are even put up on zillow or realtor. I refuse to pay 362000 for a house in the ghetto, while there are 50 forclosures in the same neighborhood, just because some investor bought it at an auction, threw on some cheap paint and sod in the front yard and now wants to flip it. So frustrating!!
The abuse of J-1, as you mention is another Visa abuse case but the "legit" H-2B guest worker Visa, for unskilled labor, not agriculture, is absolutely obscene. We have record unemployment for the ages of 16-19 in this country as well as people with just high school are also at record highs. There is no way we need millions of foreign guest workers imported as unskilled labor. We literally have millions of people hunting right now who need those jobs.
We're talking millions of foreign guest workers in this country.
OPT Visa is giving "practical training" to those who recently graduated from college as well as internships, co-ops and the like. That is completely obscene to use it as a foreign worker importation tool with so many, including STEM, unable to get a job. There is no excuse, the U.S. university system is considered the best in the world, yet we those with U.S. citizenship are being denied opportunity and a job.
Remember Hershey's last summer? The company was busted for using a J-1 visa meant for foreign students to come over here and learn English and about America, but they wound up learning the words for "visa abuse," "destroying American jobs," and got a tour of a factory interior. And of course instead of asking why American teens weren't being hired by such an "all-American" company in Pennsylvania, some fools were telling the foreigners to just hunker down and stop complaining. First, if they were on student visas, fine, go learn about America and punish all those that deceived them and hire Americans(unless Hershey's simply couldn't find American workers in Pennsylvania for summer work - yeah, right). But why are corporations and the US govt. even making me know about any visas, I'm tired of having to learn about this crap and just want to be able to trust someone in power not to screw us over at every turn. J-1, H-1, O, we just want to go to school, work hard, and save a little cash.
Remember when American teens could just apply to McDonald's and get hired within a day or a week? Apply for construction jobs over the summer and earn good cash? Deliver pizzas part-time, work at pools, and beaches, and amusement parks with no hassles? It worked out for generations, taught good lessons, and helped build society. Now it's endless games, visas for foreigners, brutal application processes that teach kids to start hating the bullshit early in their lives - which is the way it is nowadays. Visas and outsourcing, I never thought I'd be so concerned about this crap when I was studying or working but they keep forcing me to care.
The India BPO industry's entire business model is labor arbitrage. But what it has created is clear discrimination against U.S. citizen workers in their own country and absolutely nothing gets done.
This is one of the reasons we see all of those "fake news" article plants claiming worker shortgage, the demands of Indian BPO industry.
That aside, and this isn't the only case thrown out where one is just outraged, how can death threats be ruled as a normal part of being an employee?
In other words, people try to get justice and cases keep getting dismissed. Remember the Walmart equal pay case? The list goes on and on.
I'm just wondering how long really can this go on for? The continued destruction of middle class through destruction of jobs for American citizens (through outsourcing and visas), the completely deaf govt. that serves only those that can buy a ticket to lobby, and the media blaming the unemployed for being unemployed and needing help of any kind (corporation takes worker's job through intervention with govt. granting visas and open borders, and corporation blames worker for needing help from govt. and demands worker take nonexistent jobs -sounds fair). Given lower tax revenues at all levels and the people with no say + power being blamed and ignored (90%+ of population) and no job creation programs other than the tried and failed "large corporations just need more profits and no laws actual people are subject to," how long could a society really last with very few jobs (especially living wage jobs) because the next election promises at least 4 more years of same?
I look at Eurozone and now they are playing with complete fire, ECB composed of Euro countries somehow going to buy Euro bonds composed of the same busted Euro countries. If that's not a global Ponzi, I don't know what is. So prediction of when it all goes wrong?
1) "The unemployed need not apply for work, companies are only hiring people currently working and claim talent shortage" - by the way, whoever follows that policy, Satan has a very special spot for you in Hell, really, he does. That type of thinking destroys people who need jobs and hope desperately, and you are spitting in their faces;
2) The unemployed shouldn't refuse ANY JOB, politicians force unemployed surgeons to fill in jackhammer positions for benefits, teachers to work as strippers, and librarians to work as corrections officers (could see this happening);
3) Companies take years to fill a position while collecting paychecks for complete inaction, then ask the unemployed why they haven't been hired in years and what have they been doing;
4) Businesses praise the vets serving overseas, then HR asks them if they ever had a "real job" when applying;
5) TV hosts that dropped out of college or got a degree in a liberal arts subject bemoan the lack of educated, dedicated workers and complain about how useless liberal arts are;
6) Businesses need American consumers to purchase their goods and go into debt to buy houses, politicians blame American consumers for taking on too much debt and buying houses they can't afford;
7) Politicians say Americans are unwilling to get the necessary degrees, while holding out icons to the public that did not graduate their colleges (e.g., Steve Jobs and Bill Gates);
8) Drugs for consumption by Americans is bad, national production of opium in Afghanistan and speed in Burma is okay;
9) The unemployed aren't submitting quality resumes and acting professionally, say the HR representatives that misspell ads and show up two hours late for interviews;
10) Businesses demand applicants put entire lives online and create numerous profiles, applicants warned not to share too much (i.e., praise corporations and govt. only and make sure you can somehow hide your age, race, sex, etc.);
11) Citizen forges signature, tried for felony and goes to prison; corporation forges tens of thousands of signatures to illegally foreclose on houses and receives government bailout; and
12) US citizens find it difficult to pass exhaustive background checks for simple jobs in the US; US companies and govt. letting China and India handle extremely sensitive technology and documents overseas.
13) Companies claim they simply can't find enough qualified workers, but defying laws of supply and demand, wages still dropping and nurses pay to work in some hospitals.
There was a story in Georgia last year, the farmers were saying they couldn't find enough workers to work on their farms after tougher immigration laws were passed, and the Governor started seriously advocating that the unemployed should just go down to the farms and start working. He was also claiming, I believe, people could earn $18/hr. (in what world is that number even possible for unskilled labor on farms?). Well, most of the comments were calling the Governor out. Stating they didn't get a Masters or spend years in a certain industry getting all sorts of credentials to go work as a field hand because the Governor told them to. In addition, people with experience doing hard labor (whether for a short time or as long-term jobs) disputed the wages stated, claimed there was no way it was worth relocating for a seasonal, temp job that wouldn't cover any bills (in addition to covering their current mortgages, rent, etc.) and the fact that people like the Governor, who made big bucks by sitting on his ass and signing papers, would never bust his hump in the fields 10 hours/day in all conditions.
But there were people, of course, stating anyone who protested was lazy and didn't have the right work ethic and should just do it like the Governor said.
So there we have it, we actually have people in 2011, 2012, and many more years to come demanding that people go work in fields for pay that won't cover their expenses or loans or debts at any age and despite any knowledge they could share in a more relevant setting for them personally (e.g., a medical research lab, a hospital, shipyard, a school for those with special needs, and on and on) and just, in essence, shut up and get to work wherever they were told to. No mention is made of people who daily rip off millions and billions that never worked outside in fields or anything approaching jobs that can literally break people (e.g., farmhands, roofing, mining, timber, etc.). Apparently those who are okay with forcing people to work in fields never think those at the top that even created this nightmare should be the first ones to start picking crops. It's always the people that did everything right that are somehow the ones that have to just grin and bear it. Sure, the guy who stole billions from farmers and never faced jail is okay with telling me I need to shut up and just go work on a farm with pay that doesn't cover anything and no benefits? Sounds fair. Oh, the guy who sits in a political office and never worked on a jobsite with 100+ degree heat is telling me I should shut up and do what I did 20 years ago before my degrees? Good enough for me. Is your 60 year old aunt desperate for work? Well tell her to quiet down and go out in the fields and pick those crops - if she can't hack it, we'll just replace her lazy ass. America in 2012, kickin it retrostyle, like America 1850, like England 1100. Who needs historical reenactments when we can bring the whole country back to the past.
These international corporations, banks, all of it, are the kingpins who INSTALLED Obama to keep greasing their skids for them. Remember, the Supremes legalized foreign contributions to treasonous American politicians, aka oxymoron bipartisan governance (the two parties are CLEARLY One). These CEOs know no country, even when they're occasionally Americans, let alone the laughably quaint concept of patriotism. They use governments to forward their personal wealth-acquiring agenda. There's money to be made dealing with Iran. End discussion. Look at the theft of 100s of millions from the accountholders of MF global, who woke up one day to see their accounts had been emptied, their investment simply transferred to the manipulators of the fund. Wouldn't it be justice---another quaint concept only liberals believe in, hoping to mollify their nightmarish support of this particular Globalizer-in-Chief, which is what the President is, no matter the party---if the "Justice" Dept prosecuted the thieves? The AG has announced it's not gonna happen, anywhere it occurs. His masters, as opposed to his co-worker Obama, have decreed lawlessness and chaos are the rule, the best condition for thieves to function in.
As for another equally-quaint notion Iran is evil because it wants to level the playing field in the Mediterranean and counter Israeli nuclear hegemony in that region, the "law" that states no one may do business with Iran is a transparent fig leaf to cover the fact the US is desirous for Iran to become an ally, not an enemy. The chess players of the grand game (PLEASE read just a little Zbignieuw Bzrezinski, Obama's mentor, and get up to snuff) want Iran to stop selling oil to China and Russia, and to allow American military bases in Iran set up as close to Russia as possible, to risk nuclear war, even, to eventually dominate Russia and force it into their financial tent. The idea Israel must be supported as the only important ally in the area is preposterous. There's money to be made by taking over Russia and starving China of oil. The proof of this pudding is the very flaunting of the law banning financial dealings with Iran, which underscores THE FACT the US has not allowed Israel to bomb the Iranian nuclear buildup to smithereens since at least 2006, and is not going to. The tail that is Israel doth not wag the dog that is the US. Laws mean NOTHING, unless they need be invoked when a 99er tries to take back from the 1%, when they're prosecuted with intensity.
> Manufacturing was abandoned here 50 years ago, it just took a long time for people to notice. <
Actually, back when the Dems actually supported working-class people and worked for job expansion, it was the the 1960s, which was 50 years ago. The change started under Carter, but not till Reagan, 30 years ago, did the entirety of the Democratic Party quietly began to support "supply-side economics", and make it profitable with tax policy for manufacturing to be shipped en masse out of the country. The dwindling of the American middle-class began then too, while both parties adopted pro-corporate anti-American economic policies. They needed a figurehead who would protect them---Reagan. It worked. The only thing they did that worked: The destruction of socio-economic equality championed by the late, great New Deal.
is because U.S. multinationals have offshore outsourced to China. It's pretty ridiculous to demand we ruin our economy to save another nations all become some MNCs offshore outsourced.
I honestly do not know the real effects on the U.S. economy if China's economy goes to 5% GDP growth instead of these 8,9% levels. It's not like U.S. MNCs are moving jobs back anytime soon, even though they should.
Already there is a huge increase in ID theft and successful and unsuccesful thefts involving bank accounts and other types of info. handled overseas. Again, this is so predictable. So while the nonthinkers keep repeating "war on terror, war on terror," they are all to happy to have banksters and big corporations farm out sensitive personal and financial information overseas where protecting that information is impossible and even if it is stolen, it's impossible to hold anyone accountable, especially when these same banksters insulate themselves purposely (hey, jokers, we know every move you make, it's obvious) through contractors and foreign courts are much worse than American courts at protecting American 99%ers (especially when it would be a private American vs. their own citizens). And when you raise these issues with any politician and govt. official who should care about our security and sensitive information that terrorists and criminals love (e.g., law enforcement, bank employees, politicians), they give you a blank stare and repeat, "profits, job creators, profits." If you want to give them a stroke, make them choose between ID theft + aiding terrorists vs. corporate PROFITS. Oh my, what to do?!
Well, when no one trusts banks or corporations with any personal information when thefts are happening monthly and people's medical information is abused, I want those same dopes to keep spewing, "outsourcing good, profits, job creators, NAFTA, etc." as modern society grinds to a halt as private citizens can't trust the govt. or law enforcement or banks to protect their interests and everyone resorts to dealing solely with people they know. And both parties promise more of the same? Truly dimwitted, predictable because of the corruption, but dim nonetheless. Perhaps holding those responsible, you know, because corporations "are people too" for treating our SSN and bank account and medical records so carelessly personally responsible will fix this situation within 24 hours. Jamie Dimon causes someone's bank account to be drained or some company lets patent secrets be stolen overseas because the CEO wanted a bigger bonus in the USA and they are held personally responsible because "corporations are people too" and things get fixed ASAP. See, people can go to prison for ID theft or aiding theft or violating security rules and regulations or endangering people's lives and welfare. So, you want to be treated as people, I'm all for it. Now you're personally responsible. Can't take all the benefits of limited responsibility and still claim you are people too, can you? So choose.
The collapse of the PRC has started. The two most vulnerable pillars of production (same as the U.S), real estate construction and automobiles are now producing 65 percent more than sales will allow. The State Security Bureau is fudging the statistics. Sales of both real estate and cars have basically collapsed.
Soon we will hear howls from the internationalists about why we should save China by increasing trade. This will mean accepting the shoddy, dangerous and inefficient Chinese autos.
Just watch. This happened with Japanese cars in the early 60s and will happen again with Chinese cars. Most likely, a NAFTA connection will be used to funnel the ChiCom AutoTrash onshore.
http://www.nytimes.com/2012/08/24/business/global/chinas-economy-besiege...
http://www.nytimes.com/2012/08/24/business/global/chinas-economy-besiege...
Dirt farming, or subsistence agriculture is the occupation of 60 percent of the world's population. That 60% is the bottom 60 percent of the income strata . I am sure the Hierarchy wants all of us to become sharecroppers and get back to the Dust Bowl sooner rather than later. The commodities you hoard will last weeks. After the store shelves are bare, you will need kevlar for insulation and steel shutters when it really gets bad.
So, if I read the Fed Minutes correctly, the Fed's big idea is to lower interest rates further. We are below the rates of 1932 on almost every key interest rate. Who wins with rates this low? Don't say mortgage debtors or car buyers because at these rates the banks, or car dealers get incredibly picky. Fed goons will not say, buy up mortgages like the New Deal, or build something useful and productive.
Bank arbitrage is the most likely motive. Borrow at near zero and then speculate. It no longer matters if nobody will buy CDs or MM funds, the Fed will step up. Then, of course, you get your head in the hog troth table of speculative nstruments.
Banks will take the Fed money at zero, create almost no value
and everybody but the banks loses. As long as we tolerate the BS. The Crisis, and the Struggle continues.
A little orchard, a little farm, and let the hypercompetitive criminals tear themselves apart and look for more victims in their quest for billions more they want to steal. Pre-2000, and especially pre-2008, this kind of thinking was for hermits, Howard Hughes "nutters." But looking around, why not? Peace and quiet, fruits and vegetables, and taking care of those you know and truly care about. Old school lifestyle is now paradise and the long-term unemployed are being forced into it - getting the message, modern 1% society doesn't want them and won't hire them, so what options are left to survive? No HR, no politicians, no banksters, nobody keeping you down.
" I'm tired of having to learn about this crap and just want to be able to trust someone in power not to screw us over at every turn. J-1, H-1, O, we just want to go to school, work hard, and save a little cash."
Forewarned, forearmed, the price of liberty is eternal vigilance." ~ Frederick Douglass
Get out of the maze and get back to basics. Get a 2-3 acres piece of land, build a small home with septic and well and Solar and enjoy yourselves growing your own food. To hell with the greedy banksters and corporations. Leave them to their own demise. They will eventually all fail. Stock up on bullets and toilet paper and prepare for the collapse that is coming our way!
We started covering residential real estate only because there is so much B.S., lies and crap coming out from these vested interested parties. Our real focus is on middle class, jobs, income, macro economics.
That said, with almost every statistical release, we point out how wages, income are repressed, the majority of people simply cannot afford a $200k home, never mind a $350k one as you point out.
Then, these "investors" gobbling up REOs and "flipping" them to make a profit is yet another example of trading shelter like dominoes for profit. It simply shouldn't be this way but residential real estate is still just considered another commodity for profit instead of providing stability and homes for Americans. I don't know the full history here with residential real estate, mortgages and regulations but I sure do know packaging up mortgages into derivatives for sale is a major part of the problem.
Bottom line, this is just another example of sucking the middle class bone dry. Regular people cannot afford $1000, $2000 a month mortgages.
Come on, banksters need it, they need it, just give it to them. Otherwise they might not get their $20 million bonuses and who knows what might happen to the megayacht builders then (Fox covers them sometimes - they ignore destitute Americans for some reason). But megayacht builders might suffer . . . ignore the tens of millions of people in poverty, think of those 200'+ yacht builders.
Pathetic banksters, spewing all that shite about free markets, capitalism, Ayn Rand. Push comes to shove, these banksters sit on the bankster-owned Fed, borrow $ backed by taxpayers (FDIC) and loan it out at anything but 0%. The Fed, the crackdealer of all crackdealers, is owned by the banksters, so when the addict controls the dealer . . look out! Expecting Dimon to give up his seat on the NY Fed Board (for derivative bets and losses, price-fixing commodities, overcharging and foreclosing on soldiers, MF Global theft with Corzine, etc.) is like expecting a drug addict to give up his job at a meth lab - ain't gonna happen. In 2012 the entire world not watching the Kardashians and Blue vs. Red propaganda realizes the banksters have control of free money, dictate fiscal and monetary policies, and all the QE and ZIRP to the moon results in exactly 0 job creation but inflation (and losses to those depending on fixed incomes like the injured, elderly, disabled vets, etc), 0 job growth (except for coke dealers and prostitutes), but those boys can buy more coke, more yachts, and more duplexes in Manhattan, and that's all that really matters to the 30 million unemployed, isn't it? And with all that loot, they can siphon off their bonuses and salaries, inflate Manhattan real estate prices, buy a new Van Gogh (who would take a dump on banksters if he was alive today), and Bravo TV can create more shows showing how good Americans (i.e., the 1%) have it.
No tax revenues as Americans can't find jobs so asswipe politicians demand the people they helped force into unemployent now suffer more as they cut social aid, brilliant Americans that could cure AIDS, diabetes and cancer, now living in tent cities and viewed as unemployable. Vets trying to convince Home Depot HR that they are qualified to stock shelves (WTF?). Prosecutors that could tackle banksterism watching as banksters help terrorists. Teachers and nurses raiding their pensions to pay rent and try to survive for 40+ more years. But Fox News and Forbes and CNN Money and politicians of all stripes continue to push this "less regulation, less taxes, more free money to banksters = job growth."
Hey, assclowns, there's NO JOB GROWTH. NONE. We need massive jobs programs that just don't build highways for select few contractors or keep police in this city or that city employed. We need to punish those that enjoy the protection of being incorporated in America but do everything they can to destroy Americans through outsourcing and visa abuses (if you want to enjoy the protection of America's laws and our government, then you will share in our burdens as well - Lesson #1). We have scientists, engineers, attorneys, researchers, machinists, artists, vets, doctors, etc., etc. dying out here because of your actions and inaction who desperately want, and need, living wage jobs. Dying. Stop your lies and your endless delays. Every honest study in the world is showing the middle class is being hollowed out purposely. Fewer taxes for the 1%, less regulation for the 1% (like the repeal of Glass-Steagall and the outsourcing of every job known to man + open borders) is killing Americans. Every time these people talk and push the same 1% agenda millions more needlessly suffer. But hey, they don't care, they're rich and corrupt and it's time to take a cruise on a megayacht with Bloomberg and Corzine and Geithner with some Colombia snow (imported with the help of Wells Fargo/BOA/Standard Chartered/HSBC/and other bankster money launderers) and escorts -just don't bring Big Gulps - those are bad for you.
This is fucking bullshit!! How do they expect first time home buyers to compete with the investors, you know they're cutting deals with the banks and agents.. Complete and utter bullshit, I have been looking to buy a home for 1 year, and all of the good deals are taken before they are even put up on zillow or realtor. I refuse to pay 362000 for a house in the ghetto, while there are 50 forclosures in the same neighborhood, just because some investor bought it at an auction, threw on some cheap paint and sod in the front yard and now wants to flip it. So frustrating!!
The abuse of J-1, as you mention is another Visa abuse case but the "legit" H-2B guest worker Visa, for unskilled labor, not agriculture, is absolutely obscene. We have record unemployment for the ages of 16-19 in this country as well as people with just high school are also at record highs. There is no way we need millions of foreign guest workers imported as unskilled labor. We literally have millions of people hunting right now who need those jobs.
We're talking millions of foreign guest workers in this country.
OPT Visa is giving "practical training" to those who recently graduated from college as well as internships, co-ops and the like. That is completely obscene to use it as a foreign worker importation tool with so many, including STEM, unable to get a job. There is no excuse, the U.S. university system is considered the best in the world, yet we those with U.S. citizenship are being denied opportunity and a job.
Remember Hershey's last summer? The company was busted for using a J-1 visa meant for foreign students to come over here and learn English and about America, but they wound up learning the words for "visa abuse," "destroying American jobs," and got a tour of a factory interior. And of course instead of asking why American teens weren't being hired by such an "all-American" company in Pennsylvania, some fools were telling the foreigners to just hunker down and stop complaining. First, if they were on student visas, fine, go learn about America and punish all those that deceived them and hire Americans(unless Hershey's simply couldn't find American workers in Pennsylvania for summer work - yeah, right). But why are corporations and the US govt. even making me know about any visas, I'm tired of having to learn about this crap and just want to be able to trust someone in power not to screw us over at every turn. J-1, H-1, O, we just want to go to school, work hard, and save a little cash.
Remember when American teens could just apply to McDonald's and get hired within a day or a week? Apply for construction jobs over the summer and earn good cash? Deliver pizzas part-time, work at pools, and beaches, and amusement parks with no hassles? It worked out for generations, taught good lessons, and helped build society. Now it's endless games, visas for foreigners, brutal application processes that teach kids to start hating the bullshit early in their lives - which is the way it is nowadays. Visas and outsourcing, I never thought I'd be so concerned about this crap when I was studying or working but they keep forcing me to care.
The India BPO industry's entire business model is labor arbitrage. But what it has created is clear discrimination against U.S. citizen workers in their own country and absolutely nothing gets done.
This is one of the reasons we see all of those "fake news" article plants claiming worker shortgage, the demands of Indian BPO industry.
That aside, and this isn't the only case thrown out where one is just outraged, how can death threats be ruled as a normal part of being an employee?
In other words, people try to get justice and cases keep getting dismissed. Remember the Walmart equal pay case? The list goes on and on.
I'm just wondering how long really can this go on for? The continued destruction of middle class through destruction of jobs for American citizens (through outsourcing and visas), the completely deaf govt. that serves only those that can buy a ticket to lobby, and the media blaming the unemployed for being unemployed and needing help of any kind (corporation takes worker's job through intervention with govt. granting visas and open borders, and corporation blames worker for needing help from govt. and demands worker take nonexistent jobs -sounds fair). Given lower tax revenues at all levels and the people with no say + power being blamed and ignored (90%+ of population) and no job creation programs other than the tried and failed "large corporations just need more profits and no laws actual people are subject to," how long could a society really last with very few jobs (especially living wage jobs) because the next election promises at least 4 more years of same?
I look at Eurozone and now they are playing with complete fire, ECB composed of Euro countries somehow going to buy Euro bonds composed of the same busted Euro countries. If that's not a global Ponzi, I don't know what is. So prediction of when it all goes wrong?
Great story how the 1% abuse the system - here the labor market whether via outsourcing or visa fraud.
And more stupidity:
1) "The unemployed need not apply for work, companies are only hiring people currently working and claim talent shortage" - by the way, whoever follows that policy, Satan has a very special spot for you in Hell, really, he does. That type of thinking destroys people who need jobs and hope desperately, and you are spitting in their faces;
2) The unemployed shouldn't refuse ANY JOB, politicians force unemployed surgeons to fill in jackhammer positions for benefits, teachers to work as strippers, and librarians to work as corrections officers (could see this happening);
3) Companies take years to fill a position while collecting paychecks for complete inaction, then ask the unemployed why they haven't been hired in years and what have they been doing;
4) Businesses praise the vets serving overseas, then HR asks them if they ever had a "real job" when applying;
5) TV hosts that dropped out of college or got a degree in a liberal arts subject bemoan the lack of educated, dedicated workers and complain about how useless liberal arts are;
6) Businesses need American consumers to purchase their goods and go into debt to buy houses, politicians blame American consumers for taking on too much debt and buying houses they can't afford;
7) Politicians say Americans are unwilling to get the necessary degrees, while holding out icons to the public that did not graduate their colleges (e.g., Steve Jobs and Bill Gates);
8) Drugs for consumption by Americans is bad, national production of opium in Afghanistan and speed in Burma is okay;
9) The unemployed aren't submitting quality resumes and acting professionally, say the HR representatives that misspell ads and show up two hours late for interviews;
10) Businesses demand applicants put entire lives online and create numerous profiles, applicants warned not to share too much (i.e., praise corporations and govt. only and make sure you can somehow hide your age, race, sex, etc.);
11) Citizen forges signature, tried for felony and goes to prison; corporation forges tens of thousands of signatures to illegally foreclose on houses and receives government bailout; and
12) US citizens find it difficult to pass exhaustive background checks for simple jobs in the US; US companies and govt. letting China and India handle extremely sensitive technology and documents overseas.
13) Companies claim they simply can't find enough qualified workers, but defying laws of supply and demand, wages still dropping and nurses pay to work in some hospitals.
There was a story in Georgia last year, the farmers were saying they couldn't find enough workers to work on their farms after tougher immigration laws were passed, and the Governor started seriously advocating that the unemployed should just go down to the farms and start working. He was also claiming, I believe, people could earn $18/hr. (in what world is that number even possible for unskilled labor on farms?). Well, most of the comments were calling the Governor out. Stating they didn't get a Masters or spend years in a certain industry getting all sorts of credentials to go work as a field hand because the Governor told them to. In addition, people with experience doing hard labor (whether for a short time or as long-term jobs) disputed the wages stated, claimed there was no way it was worth relocating for a seasonal, temp job that wouldn't cover any bills (in addition to covering their current mortgages, rent, etc.) and the fact that people like the Governor, who made big bucks by sitting on his ass and signing papers, would never bust his hump in the fields 10 hours/day in all conditions.
But there were people, of course, stating anyone who protested was lazy and didn't have the right work ethic and should just do it like the Governor said.
So there we have it, we actually have people in 2011, 2012, and many more years to come demanding that people go work in fields for pay that won't cover their expenses or loans or debts at any age and despite any knowledge they could share in a more relevant setting for them personally (e.g., a medical research lab, a hospital, shipyard, a school for those with special needs, and on and on) and just, in essence, shut up and get to work wherever they were told to. No mention is made of people who daily rip off millions and billions that never worked outside in fields or anything approaching jobs that can literally break people (e.g., farmhands, roofing, mining, timber, etc.). Apparently those who are okay with forcing people to work in fields never think those at the top that even created this nightmare should be the first ones to start picking crops. It's always the people that did everything right that are somehow the ones that have to just grin and bear it. Sure, the guy who stole billions from farmers and never faced jail is okay with telling me I need to shut up and just go work on a farm with pay that doesn't cover anything and no benefits? Sounds fair. Oh, the guy who sits in a political office and never worked on a jobsite with 100+ degree heat is telling me I should shut up and do what I did 20 years ago before my degrees? Good enough for me. Is your 60 year old aunt desperate for work? Well tell her to quiet down and go out in the fields and pick those crops - if she can't hack it, we'll just replace her lazy ass. America in 2012, kickin it retrostyle, like America 1850, like England 1100. Who needs historical reenactments when we can bring the whole country back to the past.
These international corporations, banks, all of it, are the kingpins who INSTALLED Obama to keep greasing their skids for them. Remember, the Supremes legalized foreign contributions to treasonous American politicians, aka oxymoron bipartisan governance (the two parties are CLEARLY One). These CEOs know no country, even when they're occasionally Americans, let alone the laughably quaint concept of patriotism. They use governments to forward their personal wealth-acquiring agenda. There's money to be made dealing with Iran. End discussion. Look at the theft of 100s of millions from the accountholders of MF global, who woke up one day to see their accounts had been emptied, their investment simply transferred to the manipulators of the fund. Wouldn't it be justice---another quaint concept only liberals believe in, hoping to mollify their nightmarish support of this particular Globalizer-in-Chief, which is what the President is, no matter the party---if the "Justice" Dept prosecuted the thieves? The AG has announced it's not gonna happen, anywhere it occurs. His masters, as opposed to his co-worker Obama, have decreed lawlessness and chaos are the rule, the best condition for thieves to function in.
As for another equally-quaint notion Iran is evil because it wants to level the playing field in the Mediterranean and counter Israeli nuclear hegemony in that region, the "law" that states no one may do business with Iran is a transparent fig leaf to cover the fact the US is desirous for Iran to become an ally, not an enemy. The chess players of the grand game (PLEASE read just a little Zbignieuw Bzrezinski, Obama's mentor, and get up to snuff) want Iran to stop selling oil to China and Russia, and to allow American military bases in Iran set up as close to Russia as possible, to risk nuclear war, even, to eventually dominate Russia and force it into their financial tent. The idea Israel must be supported as the only important ally in the area is preposterous. There's money to be made by taking over Russia and starving China of oil. The proof of this pudding is the very flaunting of the law banning financial dealings with Iran, which underscores THE FACT the US has not allowed Israel to bomb the Iranian nuclear buildup to smithereens since at least 2006, and is not going to. The tail that is Israel doth not wag the dog that is the US. Laws mean NOTHING, unless they need be invoked when a 99er tries to take back from the 1%, when they're prosecuted with intensity.
> Manufacturing was abandoned here 50 years ago, it just took a long time for people to notice. <
Actually, back when the Dems actually supported working-class people and worked for job expansion, it was the the 1960s, which was 50 years ago. The change started under Carter, but not till Reagan, 30 years ago, did the entirety of the Democratic Party quietly began to support "supply-side economics", and make it profitable with tax policy for manufacturing to be shipped en masse out of the country. The dwindling of the American middle-class began then too, while both parties adopted pro-corporate anti-American economic policies. They needed a figurehead who would protect them---Reagan. It worked. The only thing they did that worked: The destruction of socio-economic equality championed by the late, great New Deal.
Pages