Re: OT: Minimum wage increase drives market down another 200 points.

Moe wrote:
Jeff Strickland wrote:

"Moe" <BubbleleLand@xxxxxxxx> wrote in message news:qiFqi.6317$GO6.4792@xxxxxxxxxxxxxxx

Another right wing conservative trying to stifle free thinking and writing. As the sub prime (liar loans) poop hits the fan let's give credit to those that made it possible. Puppet George in a Feb. 2003 speech, "The more somebody owns, the more somebody is going to have a stake in the future of the country. We want everybody to have their own home. We want everybody to have their own balance ***, their own savings, their own plans". Translated that means, my friends that put me in office want lots of dollars out there because they know whose pockets those dollars will eventually find.


Nobody is stiffling free thinking here, we're stiffling stupidity.

You (YOU) posted that the Minimum Wage is driving the stocks down, but now you are shifting to sub-prime mortgages. Our stiffling of Stupid Speech seems to be working. The trouble is, you are not less stupid, you are just different stupid.

For a little bit of education, home ownership is always good for the economy. Always. The reason is that home owners buy stuff, lots of stuff. They buy appliances, furniture, electronic gizmos, landscaping, bricks and cement, etc., etc., etc. When home owners loose their home, they stop buying stuff. (Logic dictates they stop buying stuff before they start packing boxes.)

The stock market takes notice when home owners stop buying stuff. It is this phenomena that is driving the market on Thursday and Friday, 07/26 & 27.






Uh, wake up and smell the coffee, many if not most home buyers were refinancing and buying these things on credit. We have become a credit driven economy, now that easy credit isn't so available......

And that has what to do with your original comment on your subject "Minimum wage increase drives market down another 200 points" : "Didn't happen until the minimum wage increase took affect."

Your original comment was stupid. Period. As the other Jeff said, we're silencing stupidity.

And the problem with the home loan mortgages was that there was no accountability to the people selling loans, because they just resold the bad loans. The loan buyers (who bought them from the original lenders) were plain stupid for buying bad mortgages. The problem was not easy credit. The problem was stupid lenders.

Jeff
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