The housing market, for example, is where a lot of millionaires were stripped of their stripes. When property values fell, equity that made them rich began evaporating like mist on a desert highway...And it isn't recovering well at all.
I heard one of the candidate talking about "lifting all the non-defense federal regulations".. "so people can get back to work". I think it was Kasich from Ohio. God help us if that is code for lifting regulations off the banks on new housing loans...because if you will remember, part of the big crash..a large part of it..was that people who had to rely on waffling jobs with no security of longterm employment (the mainstay of life after NAFTA and amnesty for illegal scabs), cannot prop up the paper that mortgages are written on. Everyone on both sides did a lot of dancing around the real issue (lack of jobs in the US) but when it came time to actually find a solution, they just ignored the problem, borrowed a crap ton of money from our enemy (Red China) and bound us beholden to them who would see us go under with a smile.. Great leadership DC!
Is it the fault of the people in our banana-republic job market that they needed and wanted a roof over their head? No. Can banks be wholly blamed for the outfall of outsourcing jobs over seas, inversions in industry locating offshores or illegals (mom, dad and the kids all) working for 1/3 of what it takes to actually pay one's bills in a single family track home? No. Americans have been undercut and stripped of opportunity all because people are greedy at the top of any company. Illegals, offshoring and inversions are all encouraged like the ivory trade, because that sweet sweet moolah at the top is just so damned enticing...enticing enough to gut America and leave her bleeding for dead..
And this is the catch-22 we are in precisely. That is the root of the weed. Yet, nobody can fault a tiny group of industrious people for practicing pure capitalism. What to do? Well, that's the question and the reason this thread was started. So far all I've seen is mud-slinging back and forth (Andylusion, I'm talking to you). Why not come up with ideas that solve the problem? Anyone avoiding solving the problem is not being patriotic.
I suggested either voluntary morality married to capitalism, or regulatory morality married to capitalism (like Canada, whose economy is kicking our ass right now and everyone gets healthcare covered without fear of losing their home...another root of the American economy's woes..)
Classic..... "you are slinging mud" and just one line later "you are not patriotic". Implication: "You slinging mud is bad, but when I do it, it's ok".
Hypocrite. This is why no one engages with you in discussion, because you are a hypocrite. You insult others, then claim everyone else is insulting instead of discussing.
Canada's health care sucks. People come to the US for health care routinely, because their system is terrible.
Yes, Canada's economy is better than the US. I would agree. Interesting Canada's regulations on banks, are a fraction of what our regulations are. So while you claim we should follow Canada's example, you attack the idea that would make us more like Canada.
If you look up Canada's top trading partners, they are the USA of course, mainly due to us buying their oil and ore. Then China, and then Mexico.
Why isn't free-trade with Mexico and China killing Canadian jobs? Maybe, lower corporate taxes, and lower regulations? But you hate those ideas.
Moreover, you obviously have a problem with basic economics. Why does property have value? Because people want it. Why does a home generally go up in value? Because as the population increases, there are more people that want a home.
Pure and simple.
Little hint dude.... without immigration.... our population would be falling. Fast too. Want to know what happens to property values when the population falls?
That's what you get. Property worth nothing, in lonely abandoned areas.
Just completely block out all immigration, and you can have Detroits all over the country. An entire UDA, the United Detroits of America. A nation of ruin and decline.
You think housing prices fell in 2008, just wait until the population starts shrinking dramatically. Just go lookup the Japanese housing prices. Residential realestate prices, are now lower in Japan today, than they were in the 1980s.
But don't worry dude.... Their banks are highly regulated. That fixes everything, doesn't it?
And lastly, the whole 2008 crash was directly caused by banking laws and regulations and controls. Directly. Far from fixing everything, banking regulations caused the entire problem.
But hey... go for it man. Let's end immigration, end trade, and increase taxes.... and I promise you right now, the decade of the 2020s, will be so bad, the 1930s won't be called the great depression anymore.