January 12, 2010
– Comments (3)
As I have blogged, a material part of WalMart's revenues comes simply form a government transfer payment. If it wasn't for food stamps, we would have 37,000,000 Americans standing in food lines like the pictures from The Great Depression.
Now JP Morgan is getting rich controlling and administrating the food stamp distribution.....the poorer the people, the richer JP Morgan gets........interesting isn't it????
IF YOU CAN'T MAKE MONEY LENDING.....THE POOR IS THE ONLY PLACE LEFT...
U.S. residential mortgage originations are expected to plummet 40 percent in 2010 to their lowest level in a decade, eclipsing a forecast drop made just one month ago, the industry's main trade group said Tuesday.
Lenders will underwrite $1.28 trillion in home loans this year, down from $2.11 trillion in 2009, the Mortgage Bankers Association said in its latest forecast. That would be the lowest since $1.14 trillion in 2000.
The forecast was downgraded from December, when the MBA predicted originations would fall about 24 percent.
"As I have blogged, a material part of WalMart's revenues comes simply form a government transfer payment."
I completely agree but who else would the profit trickle too? In capitalism someone must gain advantage (money-wise). Isn't it best (and makes most sense) that the lowest cost supplier would win?
Remember...we are on track for a $2 Trillion dollar deficit....
There is NO MONEY to make those payments.......no matter who the lowest cost supplier is at the time.
So basically, a material part of WalMart's revenues was borrowed by a government that did NOT have the funds to make those payments from insolvent banks that were given those payments by that same government that didn't have the funds in the first place.
Think about that for a second as you judge the soundness of our GDP.