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To: Cogito Ergo Sum who wrote (102071)	9/16/2009 5:13:31 PM
From: Hawkmoon	Respond to of 116555

I also think we have big demographic issues going forward.. and I have no answers except to ensure that my kids have as many options open as possible... Well, the US is probably in a better position than most other developed nations. We have the ability to legitimately import labor and brainpower, rewarding them appropriately and providing them greater economic opportunity than in their home country. Immigration equals population growth and that represents future demand and tax revenues. IMO, it's when we permit illegal immigration to carry on to the point that it has and negatively skew economic activity. Unscrupulous mortgage brokers sold a good quantity of homes to unqualified borrowers, quite a few of whom were illegal aliens. The foreclosure stats reflect this very clearly and those areas where illegal immigration is most rampant have been many of the regions most affected by the sub-prime quagmire. Japan is a perfect example of the demographic problem I believe you're referring to. 40,000 people over the age of 100, and 1/4 of the population over 60 years of age and a declining birth rate. Combine that with 200% national debt to GDP and somethings gotta give. And Japan's savings rate is serious declining. In fact, I think it's now below that of the US. Aging populations dipping into to pay expenses, I imagine. Echos of Flip Wilson... The Devil made me do it LOL Yeah.. I hear ya... more than enough blame to go around on all sides. But I think it's primarily the banks responsibility to insure that depositor money is wisely lent out. After all, if someone offered me $500K undocumented "liar loan", I'd be pretty tempted myself to consider it. And most people, having never had such an opportunity to borrow such an amount of money and actually "own" a home, were just as tempted. Btw.. even mentioning Flip Wilson clearly indicates your age.. ;0) Call me "Killa"... ;0) Hawk