{"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":"<p><A HREF=\"http:\/\/www.unz.com\/isteve\/immigrants-delinquent-on-mortgages-3-6-times-more-often\/\">Comments to the Steve Sailer blog<\/a>:<\/p>\n<p>* 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<p>* 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<p>a) so they can pile up the real estate debt<br \/>\nb) use their homes like ATMs<br \/>\nc) skim from all cash businesses<br \/>\nd) evade most taxes (their mentality is paying taxes is for suckers meaning Americans)<br \/>\ne) employ illegal aliens (from their homeland) at slave wages<br \/>\nf) get SBA loans at preferential rates<br \/>\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<p>How can a native born American compete with this business model?<\/p>\n<p>* 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<p>Second, there are some good nuggets around Chinese mortgage and tax behavior in this recent <A HREF=\"http:\/\/www.newyorker.com\/magazine\/2015\/10\/12\/the-accused-jiayang-fan\">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<p>\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<p>* 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":"<p>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. * &hellip; <a href=\"https:\/\/lukeford.net\/blog\/?p=76853\">Continue reading <span class=\"meta-nav\">&rarr;<\/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":[],"_links":{"self":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/76853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76853"}],"version-history":[{"count":4,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/76853\/revisions"}],"predecessor-version":[{"id":76857,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/76853\/revisions\/76857"}],"wp:attachment":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}