Posted on 01/13/2006 6:50:55 AM PST by Willie Green
And if foreign companies are taking over the mortgage business, why is the mob letting them do it? All your previous post claim the mob was taking it over.
Some things never change. As Red (from that 70's show says), "You're a Dumb-Ass!
LLS
You're complaining about entitlements. Just listing some of them for you.
"I will grant them they can blame government for this as the government sets price minimums that dairy products can be sold for and they are periodically increased."
Yeah, I probably shouldn't have chosen "cheese" off the top of my head.
You're comparing oranges to apples.
Nope, what I am argueing is in regard to an actual "individual's" feeling of "entitlement". To me, what you propose is "not" an "entitlement" as much as you wish to define it as such, thus apples and oranges. There's no equivocation.
People beleiving they're personally "entitled" to high pay a good job etc...without looking or makeing the opportunity happen for themselves is a far cry from the government offering assistance to spur economic growth in developing markets so that eventually those developing markets will be able to afford American products. (i.e. India buying Boeing aircraft...etc.)
Willie, if you are not taking it to the bank in 2006 you never will.
The bottom line is that if people are making less and less compared to inflation, there is less disposable income available for consumption and the system will reach a breaking point. The only bright side is that increasing cheaper imports from China is somewhat of a relief. But that also feeds the negative feedback loop. The cheaper goods cause more job losses in the U.S., and puts more downward pressure on wages. Eventually, the price drops will not be made up for the loss in wages and even Chinese goods will beome less affordable.
I can give some anecdotal evidence for FL. Housing prices have skyrocketed. The locals cannot afford to buy into the market any more. A lot of the homes are bought by out-of-state people, by speculators and a lot of wealthy Europeans looking for vacation homes. A pension from someone living in NYC will make ends meet there, but will let you live well in FL.
A few months ago Walmart of all groups called for an increase in the minimum wage for this reason. When they are worried htat the cheap plastic crap they sell will become out of the reach of consumers then we should all take notice.
That decision by Wal-Mart was part of a war of attrition with it's competitors. Wal Mart could better afford an increase in minimum wage compared to some of it's competitors.
That's the problem right there. There should never be any fear of tight labor markets. That way workers will get higher wages when they are in greater demand. Otherwise, the Federal Reserve will react out of fear, cause a recession, and people won't get the higher wages they deserve, especially for greater productivity.
No. The truth is that the Bush Administration has maintained an illusion of prosperity with in excess of $2 Trillion of deficit spending. This fiscal irresponsiblity conceals the fact that our wealth-creating industries are being systematicly downsized and relocated offshore, sacrificing the long term national security of the American People.
There is little doubt that George Bush is conducting economic warfare against the prosperity of the American Middle Class.
"The prohibiting duties we lay on all articles of foreign manufacture which prudence requires us to establish at home, with the patriotic determination of every good citizen to use no foreign article which can be made within ourselves without regard to difference of price, secures us against a relapse into foreign dependency."
--Thomas Jefferson to Jean Baptiste Say, 1815.
"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."-- President Andrew Jackson - (1824)
If wages are lagging inflation, then that must mean wages don't cause inflation. How long before the elite economists and politicians figure that out?
Women, children and minorities hurt worst.
You forgot that in your post , Willie.
GDP growth, low unemployment, record home ownership, and low interest rates say otherwise Willie.
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