Bingo! re: We have lost most all of our manufacturing jobs...
Thats why I can't see a recovery from this recension we keep sinking deeper into.. Back in the day, we had problems but always dug ourselves out and became stronger with our manufacturing /businesses.. Lots of work for the people. The last 2 decades have seen jobs getting sent to other countries which has been weakening our economy so I guess they came up with this idea to use subprime loans so people who were not able to get a home would(short term) and those who owned a home would benefit from the housing boom and be able to take equity out of their home, but in many cases they reworked their mortgage all together from a prime a to a subprime.. Why? Much lower monthly payments PLUS a nice chunk of cash from the equity loan.. Cash was flowin everywhere, houses were being bought up fast driving the market up.. Retailers were posting huge numbers, cars were being bought up with home equity cash, it was all good(short term).. Guess bush was hoping it would have lasted until he was out of office(top brass probably told him it would lol)
Bottom line.. The the subprime was our modern day Custer's last stand.. There is nothing to fall back on now.. Manufacturing jobs are all but gone. There was a time when you could graduate high school and get a manufacturing job with good pay and a pension to boot.. Im not a political guy, I just see what I see and what I see is a government who sold out the American people long ago and continue to do so, so a chosen few could get filthy rich and ensuring people in office another term(I guess) We are basically fk'ed until we get some real leaders in government that will take our country back, bring manufacturing jobs back to the USA. We need to cut out foreign aid now and get some domestic aid with that money.. Thats the only way. If not, god help us all in the future. Just keeping it real!!
News 
Market Data 
Discover 
