Originally Posted by pan6467

Ah but the difference between all your examples of the past and today is that people today carry their credit ratings with them wherever they go.

I know people who worked at Hoover and Timken. They were/are hard workers and good people. They bought houses, carried mortgages they were never late on, bought cars, saved for their kids' college, paid good taxes to the communities, state and feds, kept alive little mom and pop shops, etc.

Now, you take away their jobs, leave them with jobs that pay less than half of what they were making, they still have those loans, they still have to pay those same property taxes, they still have to find ways to pay for their kids' college..... and it's all their fault??????

The housing market prices are taking a dump, so they can't even get what they owe on the house to pay the mortgage down, they can't pay their mortgage and live on what they now make..... but it's their fault?

How the Hell can they move when no matter where they go their credit rating follows them, doesn't show how great a worker they were, just shows they were deliquent on loans, couldn't pay their mortgages, etc..... their credit basically shows these hard workers to be deadbeats, and if they do move to a place where there are jobs, who is going to hire a 40 year old who has bad credit, when they can hire a 20 year old for less?

So you are out of touch with reality. You want to come and see for yourself what is going on here, tell these hard working, proud people that they can just up and move to a better area and things will be ok?

Every week the Akron Beacon Journal has in it's classifieds the legal notices of foreclosure auctions..... last week there were 7 full pages.

Who in turn pays for these foreclosures, the bad loans from these "deadbeats"?

We all do in higher interest rates, taxes, etc.

Who pays for these mom and pop shops closing because there are not enough good paying jobbed customers to shop there? We all do in the long run because it leaves cheap box stores that import 75% of their goods, but then when they can't make profits they leave also.

Who pays the taxes these people no longer can pay? We all do, those of us who have jobs pay more, because the burden is more. Those of us who own property, pay more because we have to make up for the losses.

I can't believe the only answer coming from intelligent people who buy into the bullshit the neo-cons feed them is to tell people to move.

Move where?

Didn't think so