Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Dan3 who wrote (78993)	5/11/2008 12:08:02 PM
From: arun gera	Read Replies (4) of 116555

>There is only one thing that can save the economy - increase incomes to where they can afford current prices.> How about legalizing the 10 million illegal immigrants in USA? Most legal residents have overborrowed beyond their true earning capacity. The illegals are typically earning 30-50 percent of their true market value for their work. And they know the value of thrift and hard work. And probably have savings as they work in the cash economy. The legalization will increase true demand, as the newly legal will commit to purchasing houses and building businesses. The other simple remedy is to grant permanent residency to foreigners who purchase a house in US worth $250,000 without loans. All this will stabilize the market for real estate. That is needed because so many big bets have been made on basis of that collateral. -Arun

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