Asians Hit Worst By Decline in Housing Market

A poster here at AR described the questionable (and sometimes illegal) Ponzi scheme methods by which Asians in America conduct business. Therefore, it does not surprise me that a predictable and necessary decline in the housing market, especially in states like California where the bubble was even “bubblier,” hits Asians hard.

not to worry Asians are on their way up. A little glitch will not affect their prospect. Look at south east Asia, it already has rebounded economically and when or/if U.S is going to rebound, 2010, 2011, 2020????

It should be pointed out that while Asians do well in the US, their annual household income is a bit higher than it would be if they didn’t have a fairly high number of households with more than one family sharing the premises. Asian groups actually point this out - when they’re rationalizing why they should receive favoritism in handouts, loans, etc from Uncle Sam, which they do. Asians (and Hispanics etc) can for instance go the SBC and get a home loan, never mind preference in business loans. No white person can do this. The Ponzi schemes, and Asians do in fact run a high number of them, are a different story.

The US is not going to rebound until white Americans are again in charge. That won’t happen until there is a complete collapse of the current regime that has been in charge for most of the last 45 years.

John,

Do you have any more information about this Ponzi-style business model the Asians use? I haven’t heard about this and am interested in learning more.

Thanks in advance to John or anyone else who may be able to help.

I have extensive experience with Asian (and Indian) financing schemes. It works like this:

Asian “A” obtains an SBA loan for $100,000.00 and opens (or buys) a small, cash-based business, typically a gas station, convenience store, dry cleaner, or “nail shop.” All family and personal expenses are paid through the business, which is operated at a break even level so that no income taxes are ever paid. Also, the SBA loans are severely backloaded, so that very little is paid toward the debt up front.

Within 18 to 24 months, Asian “A” sells the business to Asian “B” for $250,000. Asian “B” also financed the purchase with an SBA loan. Asian “A” now has $150,000 case with which to puchase a few other businesses. Asian “B” operates his business just as Asian “A” did, and, after 18 to 24 months, he sells the business to Asian “C” for $400,000, also financed by an SBA loan. And on it goes…

I was personally involved with a lawsuit involving a motel property owned by an Indian family. It was a typically filthy “roach motel” located along an interstate exit. Two Indian brothers bought the motel for $400,000, refinanced within 2 years for $600,000. Less than 2 years later, the motel was sold to another Indian (the brothers’ cousin, who had a different last name) for $1,000,000. That results in a liquid profit of about $600,000 for the family in less than 5 years. Sometime later, I learned that motel was “valued” at $1.7 million dollars. The Indians were millionaires. I doubt the occupancy rate ever exceeded 30 percent on the best days.

Now, you may think that this model cannot go on forever. That is true —- eventually someone is holding a loan that is too huge. No matter, the bankruptcy laws provide the answer here. After 6 or 7 of these transactions, the extended family has over a million dollars in the bank. The last “purchaser” of the business files for bankruptcy — essentially “taking one for the family” — and the debt is discharged. The other family members keep their wealth, including a share for the one who filed bankruptcy.

This happens every day in every city in America. Ever wonder why there are multiple nail shops on literally every street corner? Or whether there is a need for 3 dry cleaners on every corner? Well, wonder no more — those businesses are there not to make a profit from operating revenues but rather exist as an asset that can be sold, sold, and sold again with these highly-subsidized “profit sales”.

The aliens become instant millionaires and provide absolutely NO net gain or benefit to American society. After enough wealth is ammassed, of course, the Asians/Indians begin purchasing real estate - entire buildings - for cash, which can then be populated with more dry cleaners, nail shops, junk stores, and now the entire enterprise is in foreign hands. They also use theie collective wealth to start banks, which are immediately approved to issue SBA loans.(Fox/henhouse, anyone?)

Please remember all this the next time you hear Asians and Indians described as industrious, model minorities or shrewd and capable businessmen. They are nothing more than welfare queens, the sole beneficiaries of a system designed to redistribute grand wealth into their hands.

Sorry, I meant to address that to Question Diversity.

Legal Eagle:

Another reason why Indians (i.e. from India) can run their no-tell motel scam is that most Indians who own hotels have the surname Patel, which evidently means innkeeper. Many “Patels” are able to scam banks and governments into giving them loans based on their same last names, I can’t remember the intricate details. But I read it in a law journal more than 10 years ago that a lawyer passed on to me.

5 — Legal Eagle wrote at 11:15 AM on September 23:
I have extensive experience with Asian (and Indian) financing schemes. It works like this:

Legal Eagle, thanks for explaining this. I live in Los Angeles so I am familiar with a lot of this. When ever blacks complain about Asian businesses taking over their neighborhoods they think the Asian governments are financing it.

I always tell then, no, it’s not the Asian governments, it’s the American government,especially the SBA. I go on to tell them that the only criteria to obtain these loans is to be of some non White race or a diversity White like Persian.

Here is a Chinese scam I discovered. A Chinese family established a Trust Company. They issued Deeds of Trust, certified documents that a certain person or company owns a certain piece of real property.

These Deeds of Trust can be used in lieu of money as a down payment on other real estate. This family used their Trust company to create totally false Deeds of Trust which were used to buy actual existing real estate. In this case it was 2 apartment houses in Glendale California.

The fraud was only discovered when they “gave” the buildings to some relative in China and stopped making the mortgage payments. Apparently they did not realize that mortgages are on the property itself, not the owner. The bank investigators discovered that the properties on the Deeds of Trust did not exist.

I’m sure they are still doing it, but taking care to make the mortgage payments or just getting minority government money to make improvements or something.

California is absolutely infested with Asian owned furniture stores. The furniture is identical. The stores are totally empty all day every day. They generally are open only from 11 to 5. Go in one and you will find only one person there, sitting watching TV or cooking over a hotplate. Obviously the stores do not even make enough to pay the gas and electric bills.

I always assumed maybe they smuggled contrabrand or even illegal aliens in the furniture crates. But they are probably part of the ponzi schemes.

Then there is the ghost employee who makes exactly what is needed to qualify for maximum unemployment benefits as soon as he or she is laid off. The Asians take to contribute to unemployment in the ghosts name. They of course do not send in to Social Security, Wcomp, or taxes.

When the ghost has “worked” the proper number of quarters, the ghost is laid off and the Asian employer collects the benefits for as long as possible. Meanwhile, he has created another ghost employee. This has been going on in the Asian sweatshop community since the 1930’s at least.

Ghost employees are a long standing tradition in Asian armies. the officers do the payroll for their unit instead of payroll being separate. So the officers create ghost soldiers and pocket their pay checks. The problem arises when the country goes to war and discovers that their army of 300,000 is actually an army of 150,000.

A big problem in dealing with immigrant businesses is that they use lots of false Identification so they can’t be sued or be found to pay their bills.

Here Asian means EAST-ASIAN I presume. Is there any study to find the difference between East Asian and South Asian income??