{"id":76853,"date":"2015-10-13T17:21:06","date_gmt":"2015-10-14T01:21:06","guid":{"rendered":"http:\/\/www.lukeford.net\/blog\/?p=76853"},"modified":"2015-10-13T17:23:00","modified_gmt":"2015-10-14T01:23:00","slug":"the-big-short","status":"publish","type":"post","link":"https:\/\/lukeford.net\/blog\/?p=76853","title":{"rendered":"The Big Short"},"content":{"rendered":"

Comments to the Steve Sailer blog<\/a>:<\/p>\n

* I saw the trailer for the upcoming film of Michael Lewis\u2019s \u201cThe Big Short.\u201d It looks like the movie will attribute the surge in demand to blond strippers who own 6 houses.<\/p>\n

* Immigrants always have an out that Americans don\u2019t have. And that\u2019s to skedaddle back home to the third world nation they came from:<\/p>\n

a) so they can pile up the real estate debt
\nb) use their homes like ATMs
\nc) skim from all cash businesses
\nd) evade most taxes (their mentality is paying taxes is for suckers meaning Americans)
\ne) employ illegal aliens (from their homeland) at slave wages
\nf) get SBA loans at preferential rates
\n\u2026\u2026.. THEN when the law is coming down on them, go back home where they have been depositing profits all these years.<\/p>\n

How can a native born American compete with this business model?<\/p>\n

* That fact that two people called Zhenguo Lin and Yingchun Liu are both teaching at Cal State, Fullerton, is itself a massive indictment of our immigration policies. Is \u201ccollege professor\u201d now a job Americans won\u2019t do?<\/p>\n

Second, there are some good nuggets around Chinese mortgage and tax behavior in this recent New Yorker article<\/a> on a Chinatown bank. The New Yorker occasionally lets true-facts slip into its reporting, thought it never quite gets to where those facts lead. One tidbit:<\/p>\n

\u201cHowever, unspoken in many discussions about the Chinatown economy is the issue of tax evasion. The under-reporting of income means that the gap between a prospective home buyer\u2019s official income and his or her actual resources can be enormous.\u201d<\/p>\n

* Nobody noticed that all of the profs doing the study are Chinese who didn\u2019t even bother to anglicize their names.<\/p>\n","protected":false},"excerpt":{"rendered":"

Comments to the Steve Sailer blog: * I saw the trailer for the upcoming film of Michael Lewis\u2019s \u201cThe Big Short.\u201d It looks like the movie will attribute the surge in demand to blond strippers who own 6 houses. * … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[162,161],"tags":[],"class_list":["post-76853","post","type-post","status-publish","format-standard","hentry","category-economics","category-immigration"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t