JoeB131
Diamond Member
Oh please, like I said, you're talking about a fraction of people who tried to make profits off of housing and then lost out. The bulk of it was loans out to people for their own houses that had little or no ability to pay the bank back. Tens of millions were not flipping houses. Tens of millions were getting home loans with no credit check and no down payment.
If people were just buying houses to LIVE in them, this wouldnt' have become an issue. Instead they were buying houses they didn't need, buying houses as investments like they did in my Condo complex, taking out mortgages on houses that they already paid off or hadn't paid off yet.
No, this was the banking industry outright encouraging and promoting bad behavior...
The problem is that people like you refuse to look at reality. And the reality is the more problems and costs you create for businesses, the more businesses move out. They can't compete with foreign competition with books of rules, high taxes and strong unions. It's just too costly and too much of a headache.
The problem with THIS lame-ass argument is that US industry did not lose out to countries that had less unions and regulation. Germany and Japan have much stronger unions than we do, with 17% of their workforce being unionized compared to the US.
Which Countries Have The Highest Levels Of Labor Union Membership? [Infographic]
They also have higher individual tax rates, much stronger regulations, and oh, yeah, they put workers ahead of the rich.
SO the thing is, when you say, "look at reality', I look at the rest of the world... and yup, Americans, being stupid as we are, we just do it wrong.
Not to worry, someone like Trump tells you to blame the darkies, and you obediently obey.
WAKE THE FUCK UP MAN. THE RICH ARE NOT YOUR FRIENDS!