Are Foreigners equally to blame for the Economic downturn in America?

Discussion in 'Economy' started by 4Horsemen, Oct 9, 2012.

  1. 4Horsemen
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    4Horsemen Senior Member

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    I think so. and here's why....


    It appears that people don't want to include the foreignors who come to America in droves as also helping to crash the economy. It's almost as if people exclude them and only point out Blacks and Whites as the ones being the reason for the crisis.

    Has anyone ever thought about the billions of dollars funnelled OUT of America headed back to their homeland? I mean It's not like they don't send money home, they do. LOTS of it. some send it to their families, some send it home to build a home back home so they can get ready to vacate the one they bought(with American dollars) in America.

    WHY is everytime there's a sound bite on TV, they splash up a poor white family or a poor black family and then run the story as if it's only us Americans that are the ones running up credit cards, loan debts, economy crashing, etc...

    WHY is it, you NEVER seen a Asian family or a Hindu family behind these stories?

    They are just as bad with managing money as some of our American counterparts but they seem to get a pass, leave the country, and are long gone.

    Creditors can only write them off as bad debt because they can't track them down in Turkey or Japan, and thus force the Gov't to pay for it by passing on the debt to Americans.

    WHY are there never stories on this as part of the reason of the financial struggles the American Econoomy faces?

    FYI - I passed a closed down curb store on my way to work, which was once owned by an Arab. now it's an eyesore in the community since he vacated it and left a lot of junk in front and behind the building.

    Soooo.....

    WHY are these stories not being splashed on CNN. ???

    I drove through an afffluent neighborhood with homes $300K and above the other day after searching homes for sale, forclosures, etc. the list was impressive. some of the areas were gated and some were not. some of the ones that were not behind gates, I called on and found out the previous owners were either from Pakistan or India or Japan and when I asked why they are selling, I got answers like "they decided to move back to Pakistan" aka they vacated it or used it as an investment property and now dumping it... or "It was a foresclosure and the guy moved back to Japan" or something.

    oh yes, it happens. a LOT. but you won't see these stories on TV. and you never will. the spin is make sure you all understand that it's YOUR FAULT that the American real estate loan, banker bailout loans, etc...is all YOUR FAULT. when that's a gross lie.

    It's a MYTH that ALL foreigners come to America saddled with cash to spend. NO, that's a llie.

    a LOT of them move to America DEAD BROKE, and are afforded the priviledge of wht I like to call
    Banker Favoristism. and a LOT of them are just as bad with managing money as some Americans are (not including me), and they default on these home loans, car loans, business loans, just the same. ONLYDIFFERENCE IS...when they apply for their loan it looks like this compared to YOU applying for one:

    Foreigners= $600k home loan, $250K business loan, and $50K car loan(all within 30 days in most cases)
    YOU and me = can barely can get a $10k signature loan without putting up a car and your house...lol

    It's the act of Banks loaning money to foreignors at higher rates and percentages than our own citizens.

    Banker Favoritism. don't think it doesn't exist. it does. and YOU, the taxpayer, foot the bill.

    I would argue the loan ratio American citizen vs Foreigner is 5:1 in 2012



    read and discuss. :cool:
     
    Last edited: Oct 9, 2012
  2. 4Horsemen
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    4Horsemen Senior Member

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    Now keep in mind these people can be fresh off the plane from Iran or Pakistan and within weeks, they are up and running. now if the store goes under(bad management/loan default/embezzlement, etc..), they don't always take care of their debts and keep it moving......THEY BAIL BACK TO PAKISTAN!...FACT! ...leaving a vacated business loan, a vacated building, tax issues, penalties, etc...all accruing...and guess who they end up passing that debt along to? YOU AND ME in the form of TAXES...THE END RESULT...no matter how it ends up there. WE END UP PAYING FOR IT.

    This is an epidemic that nobody is giving a rip about and I'll keep talking about it until somebody does and realize that the Foreigners need to be held accoutable for their fkn debt when they come over here and squat for 10-15 years, rack up debt and bail.

    I'm not talking French here but I am talking over some of you peoples' heads. and that's fine. sink or swim mentally. not my problem
     
  3. PoliticalChic
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    PoliticalChic Diamond Member

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    "Now keep in mind these people can be fresh off the plane from Iran or Pakistan....."


    Not flying carpets???
     
  4. 4Horsemen
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    4Horsemen Senior Member

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    Nothing to add or discuss or chide down about? Interesting indeed. :clap2:
     
  5. Grandma
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    Grandma Geezer Chick Supporting Member

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    While they're working here they're paying taxes and they do contribute to the economy, buying clothes and food at the very least.

    As for the shop owners, contrary to what the 1%ers would have you believe, it's the really small family-owned businesses that employ most Americans.
     
  6. The Rabbi
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    The Rabbi Diamond Member

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    It's because your simplistic statements mark you as a ninny.
     
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  7. Toro
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    Toro Diamond Member

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    No.
     
  8. 4Horsemen
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    4Horsemen Senior Member

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    ^^This is simply not true. a lie being spread .

    a LOT of Foreigners come to America, bilk the banks, and leave. and never pay back a penny.

    I have a friend in Banking and I personally, as a side hobby, locate houses that are foreclosed, for sale, vacated, for potential future properties I may want to consider and add to my portfolio. and I can tell you that at least 85% of the listings I research were formerly owned by somebody from overseas. who either vacated, foreclosed or put it up for sale.

    a house that doesn't sell for months., hurts the market just as bad as one that's foreclosed on.

    I'm talking $300K- and up homes here, not some $70K fixer up in the yuppie part of town. I'm talking high end suburban homes with sprawling yards and well manicured landscaping. double a/c hvac units, with pools, etc....

    just sittin up collecting dust because of a foreigner. not to say some are not americans on the listings, but most are foreigners.

    so yes, they contribute to the eonomic downturn by abadoning all these homes like that.

    check your city and see for yourself.
     
    Last edited: Oct 10, 2012
  9. expat_panama
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    expat_panama Silver Member

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    A major problem with the recovery is a pervasive bigoted blind prejudice that's keeping otherwise sane people from making good choices. Let's put class warfare to one side and first look at what Census records show for company size vs employment--
    [​IMG]
    --and then let's except the fact that the so-call 'one-percent' has told us nothing of the kind.
     
  10. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    a dollar "funnelled" out is not burned; it is exchanged for local currency and then spent in America since you cant buy stuff at the Home Depot in Chile with US dollars.
     
    Last edited: Oct 10, 2012

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