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Mortgages by Walmart??

SHELLY avatar
SoWal Insider
13,915 views
Will really be interesting if Walmart starts offering mortgages, HELOCs and home equity loans.....may put the "broke" in "Mortgage Brokers."

http://www.marketwatch.com/news/sto...D1A-48B9-90F6-3E9B423BD060}&dist=hplatest

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Replies

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6thGen avatar
Beach Fanatic
#77
Yes, I've heard the we can default, we can quit buying argument. It's what an economic junkie would say waiting for the next debt sale fix. If China undertakes an invasion of a sovereign state such as Taiwan, we will look the other way out of economic dependence and expediency born of short sighted "profit before country" policies. Free trade is not to be worshipped as religion, because it has a very dark side of unintended consequences. Imagine allowing free trade the ability to gut our agricultural sector. Just like the Tolstoy quote about not knowing the horrors of war until someone close to you dies, if you've not been sacked because of our whore-like relationship with China, who cares....right?

Everything has unintinded consequences. Capitalism and free trade might not be perfect policy, but it is the best we've come up with.
SHELLY avatar
SoWal InsiderAuthor
#78
Everything has unintinded consequences. Capitalism and free trade might not be perfect policy, but it is the best we've come up with.

I guess this depends on whether your job has been outsourced to "Bob" in Bangalore or not.

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Edited

6thGen avatar
Beach Fanatic
#79
I guess this depends on whether your job has been outsourced to "Bob" in Bangalore or not.

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I have plenty of skin in the game, so I'm not worried.
Beach Lover
#80
problem is, you cant live your life without purchasing Chinese items.

Their products are everywhere.
beachmouse avatar
Beach Fanatic
#81
Maybe not entirely, but it isn't that hard to cut back on Chinese goods by 90% or so with some moderate label-reading.
Beach Lover
#82
I do not believe it is possible to cut back on Chinese products by 90%.

Even your computer and your car have Chinese parts in them.

Even if you could cut back on Chinese products by 90%, you would have to get a second job to pay the difference compared to non-Chinese products.

Your food, clothes, shoes, electronics, office supplies, building materials,
furniture, rugs, car parts, jewelry, tools,cameras, computer parts, dishes, toys,come from China, so whats left?

There is an article in todays Ft Walton paper about someone who was trying to do what you suggested no Chinese & seemed to be no problem. It is a problem unfortunately. For example Chinese womens shoes 30 dollars, same American made 114 dollars...............................................
beachmouse avatar
Beach Fanatic
#83
Some recent purchases for us. It's a pretty middle class spending pattern, IMO, and we're currently at one professor's salary between the two of us until I can find another job.

Food- nope. We've checked place of origin pretty carefully since the toothpaste incident. Number one source of imported food in our diet is Chilean produce (killer clementines from there right now and their peaches over the winter were almost as good as Georgia ones) We only eat locally caught fish and shellfish.

Clothing and shoes- most recent clothing came from Vietnam, Indonesia, Mexico, and the Dominican Republic. Prices- $10-$18 per clothing item. Running shoes came from Vietnam

Cameras- only from Germany or Japan. Mr. Mouse is insanely picky about his camera gera

Dishes- melamine from Denmark, some neat plates and bowls from Japan (courtesy of World Market in Pensacola) and the big splurge for my birthday was a Le Crueset wok from France

Furniture- American-made in small family factories and woodworking shops for a very reasonable price (courtesy Room and Board)

Tools- American-made. If you look through Lowe's/Home Depot/Sears, the price difference between American and Chinese tools isn't that much

Electronics- one cheap Chinese DVD player for a back bedroom was a recent pruchase. I'd guess the rest of the older stuff is a mix of Japan, Taiwan, China, USA, and a little bit of high end EU stuff

Jewelry- either American-made, or from smaller southeast Asian, Middle Eastern and African vendors. Save for my big two rings, and a pair of diamond earrings, most of my jewelry cost $40 per piece or less


As for the $30 vs. $114 shoes, there are a lot of $114 Chinese shoes on the market these days that weren't terribly expensive to produce. And there really isn't a price difference between the companies that still make running shoes in America and the ones who outsource.

Car parts- bleepin VW parts come by way of Germany or Mexico. The Subaru's place of final assembly was Indiana with mostly a mix of American and Japanese parts

Toys- No kids for us yet. When I have to buy a toy gift, it's usually books or some sort of EU-produced deal
Beach Lover
#84
WOW, I am impressed with your effort and salute you!!!
scooterbug44 avatar
SoWal Expert
#85
It really isn't that difficult to avoid Chinese products if you shop around and buy quality items. Items may cost more, but will last longer so I consider it equal. You aren't saving money by buying cheap stuff - you are getting exactly what you pay for! Good products can last forever with care - I eat off my great grandmother's dishes every day.

Be careful about buying produce from South and Latin American countries as their rules and regs regarding pesticides and chemicals are not as strict.
beachmouse avatar
Beach Fanatic
#86
Agreed with the looking for quality that lasts part. What good's a $10 toaster if you have to buy a new one every year and clutter up a landfill with the remains of the old one?

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