Cramer: Illegal Immigrants to Blame for Mortage Crisis

[monistat7]

Quote from TheDudeofLife:

have you ever worked for a living? how would you feel if your empoyer fired you because they felt they could replace you with someone who would work for much less ? What if you went to school and then got a new job in a new industry, and the same thing happened? At what point would you realize that there was something fundamentally wrong with this system. ?

There but for the grace of god go I.

if your job gets outsourced, you go back to school or get new job training and enhance your skills and abilities. while the rest of the world is working hard to advance themselves, too many americans would rather whine and sit on their ass and point fingers at people in india and china for stealing their jobs. we arguably have the best education system in the world and have the most resources at our disposal to learn new skills. there is no excuse why any laid off american cannot better themselves and find new work. i am getting an MBA and a CFA so that i will have the most edge over my competition, regardless of what country they originate. you do what you have to do to make yourself more valuable in the job market.

if there is such a shortage of american jobs, then why is there always a labor shortage at McDonalds and Burger King? They pay minimum wage and only hire legal immigrants.

while many americans are fighting to keep menial labor jobs like picking fruit and cleaning toliets, developing nations like india and china are fighting to develop skilled labor jobs like accounting and computer programming. why are we trying to race to the bottom?

and to blame mexican immigrants for ruining this country and economy is straight up racist. this country was built and is being built on the backs of immigrants. and sure you can label them as being "illegal" and breaking the law but did it ever occur to you that europeans had and have a much easier time legally immigrating to this country? if they were from Europe (white), they wouldn't have to sneak in illegally. i suggest you visit ellis island the next time you visit new york city and get a lesson on american immigration.

 

[Pacridge]

Quote from Sparohok:

Alan Greenspan?

http://www.slate.com/id/2096313/

Martin

"Indeed, recent research within the Federal Reserve suggests that many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade, though this would not have been the case, of course, had interest rates trended sharply upward."

Yes, Mr. Greenspan. And after you made that statement the Feds (you) raised the prime rate repeatedly. Went from 4.0 when you made that statement to 8.25 within three years. So the "this would not have been the case, of course, had interest rates trended sharply upward" was the important part of your statement, right?

The only time I would consider an ARM is if I planned to hold the house for less than a year or two. But I've also had a VA home loan.

 

[TheDudeofLife]

"I am getting an MBA and a CFA so that i will have the most edge
over my competition, regardless of what country they originate "


Guess what One day your job may be lost because it can be done just as well by someone overseas for 30% less. Radiologists in America, who are very well trained, are losing jobs to competition from overseas. Technology and loose immigration standards have made it much easier for large multinational corporations to lower costs by firing American workers and replacing them with cheaper labor . To think that only low skilled, blue collar jobs will be the ones lost is naive. Technology and further concentration of power in the multi nationals will eventually lead to many more white collar type jobs lost. Lawyers, Accountants, Engineers, etc. will all find themselves at risk.

 

[NasdaqTrader]

Quote from monistat7:

if your job gets outsourced, you go back to school or get new job training and enhance your skills and abilities. while the rest of the world is working hard to advance themselves, too many americans would rather whine and sit on their ass and point fingers at people in india and china for stealing their jobs. we arguably have the best education system in the world and have the most resources at our disposal to learn new skills. there is no excuse why any laid off american cannot better themselves and find new work. i am getting an MBA and a CFA so that i will have the most edge over my competition, regardless of what country they originate. you do what you have to do to make yourself more valuable in the job market.

if there is such a shortage of american jobs, then why is there always a labor shortage at McDonalds and Burger King? They pay minimum wage and only hire legal immigrants.

while many americans are fighting to keep menial labor jobs like picking fruit and cleaning toliets, developing nations like india and china are fighting to develop skilled labor jobs like accounting and computer programming. why are we trying to race to the bottom?

and to blame mexican immigrants for ruining this country and economy is straight up racist. this country was built and is being built on the backs of immigrants. and sure you can label them as being "illegal" and breaking the law but did it ever occur to you that europeans had and have a much easier time legally immigrating to this country? if they were from Europe (white), they wouldn't have to sneak in illegally. i suggest you visit ellis island the next time you visit new york city and get a lesson on american immigration.

There are engineers and computer programmers in this country that have their jobs outsourced to India and China because of cheaper labor. Most jobs can be outsourced, customer service, accounting, finance, just to name a few. How would they enhance their skills? What field can they enter that is totally safe from outsourcing? Perhaps become a physician. Most people have family responsibilities and bills to pay each month that precludes them from pursuing more education. Plus alot of people have student loans to pay off; why should they take on more loans. Most feel like they have been screwed. Why take a chance and become a sucker again.

 

[fatrat]

Quote from NasdaqTrader:

There are engineers and computer programmers in this country that have their jobs outsourced to India and China because of cheaper labor. Most jobs can be outsourced, customer service, accounting, finance, just to name a few. How would they enhance their skills? What field can they enter that is totally safe from outsourcing? Perhaps become a physician. Most people have family responsibilities and bills to pay each month that precludes them from pursuing more education. Plus alot of people have student loans to pay off; why should they take on more loans. Most feel like they have been screwed. Why take a chance and become a sucker again.

Not to mention financing an education is hardly cheap. At Columbia University near where I live, it's $900 per credit or something. You might say, "Oh, well go to a community college." When you go down to the community college level, you might get the same education, but no one ever takes you for anything seriously until you cap that education off with a better name.

There's plenty of good universities outside of the US. They do the job for a lot less, so even education can't help you if you aren't a whiney American.

 

[Pacridge]

Quote from monistat7:

if your job gets outsourced, you go back to school or get new job training and enhance your skills and abilities. while the rest of the world is working hard to advance themselves, too many americans would rather whine and sit on their ass and point fingers at people in india and china for stealing their jobs. we arguably have the best education system in the world and have the most resources at our disposal to learn new skills. there is no excuse why any laid off american cannot better themselves and find new work. i am getting an MBA and a CFA so that i will have the most edge over my competition, regardless of what country they originate. you do what you have to do to make yourself more valuable in the job market.

if there is such a shortage of american jobs, then why is there always a labor shortage at McDonalds and Burger King? They pay minimum wage and only hire legal immigrants.

while many americans are fighting to keep menial labor jobs like picking fruit and cleaning toliets, developing nations like india and china are fighting to develop skilled labor jobs like accounting and computer programming. why are we trying to race to the bottom?

and to blame mexican immigrants for ruining this country and economy is straight up racist. this country was built and is being built on the backs of immigrants. and sure you can label them as being "illegal" and breaking the law but did it ever occur to you that europeans had and have a much easier time legally immigrating to this country? if they were from Europe (white), they wouldn't have to sneak in illegally. i suggest you visit ellis island the next time you visit new york city and get a lesson on american immigration.

Well said!

I know when I got out of the Navy in '87 my wife and I had no money, no jobs and an infant daughter. We CHOOSE to move back to our home state. I CHOOSE to leave the Navy. These things made it more difficult. Suddenly no health ins, no benefits at all. I worked as a substitute janitor at a local school district from 4pm-12am, sometimes 40 hrs. a week, sometimes not. At night I'd work unloading semi trucks. Did that until I found a full time job with benefits. Pay wasn't great but it had benefits. After that I went to night school and got a degree and got a better paying job. Took several years but we did it. Do we charter a private jet when we travel? No, but we usually fly at least Business Class.

There's no reason for people not to succeed in this country. I mean I understand if you're mentally or otherwise disabled. But otherwise, get off your duff and get to work. Is it easy? Rarely. Can it be done? Almost always. In my opinion the biggest thing holding people back is themselves.

Case in point: A friend of my daughter's dad does part time mechanic work ut of his home. I have him do maint. on my vehicles, change the oil, belts etc.. He's very mechanical, builds cars, trailers, very talented welder, stuff like that. One day I'm talking to him and he's complaining about not making any money. I guess he works some gen. labor type job during the day. I'd just read where the local paper mill is dying to get mill rights and mechanics for a new plant they built, starting pay 60K. I told him he should go down there and apply. he said "no, I never finished high school and they insist you have at least a GED." So go get a GED? "Screw that, I'm not wasting my time with that."

I'm sorry if you don't have enough get and go to get up and go get a GED then I don't want to hear your complain about your income.

 

[monistat7]

Quote from TheDudeofLife:

"I am getting an MBA and a CFA so that i will have the most edge
over my competition, regardless of what country they originate "

Guess what One day your job may be lost because it can be done just as well by someone overseas for 30% less. Radiologists in America, who are very well trained, are losing jobs to competition from overseas. Technology and loose immigration standards have made it much easier for large multinational corporations to lower costs by firing American workers and replacing them with cheaper labor . To think that only low skilled, blue collar jobs will be the ones lost is naive. Technology and further concentration of power in the multi nationals will eventually lead to many more white collar type jobs lost. Lawyers, Accountants, Engineers, etc. will all find themselves at risk.

why do you think i am getting an MBA and CFA? i dont want to sit back and rely on my bachelors degree. i see that the world is becoming more competitive so i am stepping up my game by getting an advanced degree and more credentials. if an MBA and CFA is not enough one day, then i will try to get whatever additional degrees or certifications that will help me. feeling sorry for myself and blaming others for becoming more competitive than me isn't going to make me any more skilled or knowledgeable. and outsourcing has its limitations. if you are highly creative and talented, you will not be outsourced. you can teach people to write computer programs but you cannot teach talent. but if you are a dime a dozen computer programmer, you will obviously be replaced with someone more efficient.

 

[Pacridge]

Quote from monistat7:

why do you think i am getting an MBA and CFA? i dont want to sit back and rely on my bachelors degree. i see that the world is becoming more competitive so i am stepping up my game by getting an advanced degree and more credentials. if an MBA and CFA is not enough one day, then i will try to get whatever additional degrees or certifications that will help me. feeling sorry for myself and blaming others for becoming more competitive than me isn't going to make me any more skilled or knowledgeable. and outsourcing has its limitations. if you are highly creative and talented, you will not be outsourced. you can teach people to write computer programs but you cannot teach talent. but if you are a dime a dozen computer programmer, you will obviously be replaced with someone more efficient.

Yes! The old adgae of life giving you lemons and all that. Of course we all know life is more likely to given you crap, well then make fertilizer.

Yes, some people are getting a royal screwing, it happens. Probably all too often. But life isn't freaking fair. You can either whine about getting screwed or get up, dusk off and move on.

 

[monistat7]

Quote from fatrat:

Not to mention financing an education is hardly cheap. At Columbia University near where I live, it's $900 per credit or something. You might say, "Oh, well go to a community college." When you go down to the community college level, you might get the same education, but no one ever takes you for anything seriously until you cap that education off with a better name.

There's plenty of good universities outside of the US. They do the job for a lot less, so even education can't help you if you aren't a whiney American.

so while you can complain about the cost of an education, other americans (and foreigners) are taking out tons of student loans (me included) and getting that education. basically your only excuse for not going to columbia is because you dont want to pay back student loans. most poor kids in china or india would give their left kidney to be in your shoes.

do you even realize what a priviledge it is to be able to get student loans so easily? and lets not forget that there is a fair amount of scholarship out there. do you think students in india and china have the same benefits we do? international students have to have their student loans backed by assets in order to get student loans in this country. secondly, all americans are offered a free public education from K-12th grade. it is a shame that so many americans never finish high school due to non-financial reasons.

the average american public school facilities and teaching quality is light years ahead of that in developing countries. and what about public libraries and community colleges and state schools? most people in india and china have none of that. americans should be one of the last people on the planet to complain about things being hard and unfair. and if there are plenty of good universities outside the US that do the job for alot less, then why dont you enroll there?

 

[TheDudeofLife]

Quote from monistat7:

why do you think i am getting an MBA and CFA? i dont want to sit back and rely on my bachelors degree. i see that the world is becoming more competitive so i am stepping up my game by getting an advanced degree and more credentials. if an MBA and CFA is not enough one day, then i will try to get whatever additional degrees or certifications that will help me. feeling sorry for myself and blaming others for becoming more competitive than me isn't going to make me any more skilled or knowledgeable. and outsourcing has its limitations. if you are highly creative and talented, you will not be outsourced. you can teach people to write computer programs but you cannot teach talent. but if you are a dime a dozen computer programmer, you will obviously be replaced with someone more efficient.

What if someone as talented as you costs much less to your employer, and your employer looking to increase his profits decides one way to do so is to lay you off. When this happens enough, people stop feeling sorry for themselves. They get angry and if they can be properly organized, some change can and will occur. I am sure the very talented, lucky, and well connected will flourish. I also suspect 90% of the population will not. The days of easy credit financed consumption are ending. American consumer spending gives a lot of very talented guys like you high paying jobs. Go drive around Flint Michigan or Youngstown Ohio to see what outsourcing does to communities. Now imagine what will happen when the effects of this are spread over much larger segments of our workforce.