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OK--can you detail the expenses then?
Have you checked house prices, health insurance, tuition, rents lately? Inflation out of control for years. The EPI is what matters.
I still think the banks should have been nationalized and the assets sold off.
Between 2002-2008 homes were popping up like weeds. Thereafter. Home builders ground to a halt in 2009. 2012 and since then homebuilding has lagged.
Until you see new build in the 2m there will he shortages
mell says
Have you checked house prices, health insurance, tuition, rents lately? Inflation out of control for years. The EPI is what matters.
I don't know--Patrick just posted a thread showing rents dropping. What matters is overall inflation--not in a few cherry picked sectors that have unique circumstances.
If it was the Fed causing it, it would affect the entire economy.
3 reasons why it is not affecting the entire economy equally (it also has been affecting the stock market so you can see it beyond housing):
1) When you get (interest) free money, you will invest/speculate in goods/services with the highest leverage => housing!
2) When you get guarantees of being backstopped by the taxpayer, you will favor those goods/services => housing, education!
3) When the economy is fueled with "free" cash, local goods/services (i.e. which cannot easily be globalized/imported) will inflate => housing, education, healthcare!
This is how ZIRP/QE was carried under the name of stimulating the economy but in reality, it just helps rent seekers to fuck the W2 workers.
When they levered up and blowed up, let’s do NOT bail out, let them die and drag down everybody with them. It is NOT only honest that way,
it also clean the rot and restore displine for the “COMMON” good. In stead the “offset of deflation” encourages more corruption and wealth transfer.
She told me she does NOT want to work, “how about investing?” that’s what she said.
What is for certain is that the jobs created by Uber, Telsla, Snap will need houses to live and schools to go to. So let’s just squeeze rent out of them.
This is how ZIRP/QE was carried under the name of stimulating the economy but in reality, it just helps rent seekers to fuck the W2 workers.
It was carried out to make sure everybody is loaded with debt so that wealth is transferred from honest work and wealth creation to rent seekers such as bankers and land lords.
I have no problem for bankers and rent seekers to take on risk, and do what they do. When they levered up and blowed up, let’s do NOT bail out, let them die and drag down everybody with them. It is NOT only honest that way, it also clean the rot and restore displine for the “COMMON” good. In stead the “offset of deflation” encourages more corruption and wealth transfer. I was in post office and wait in line for passports. I was chatting to a young lady and asked her what she does. She told me she does NOT want to work, “how about investing?” that’s what she said.
What I am saying is this:
Let everything freeze up and let business die. Then the mass will hang the responsible and drain the swamp. Then it comes the era of responsibility and discipline. Losing billions does NOT restore any disciple when FED is printing trillions. Those who take the public hostage gets bigger and the public is a bigger hostage now.
It is another total different matter if you introduce narcotics to the public and keep making money out of them once they get addicted.
JZ saysIt is another total different matter if you introduce narcotics to the public and keep making money out of them once they get addicted.
If you want interest rates to rise, fix the inequality problem.
I have no problem of inequality. If Bill Gates and Steve Jobs get rich, their employee have a better life too, so does the society.
Inequality has no bearing on rates whatsoever. You can see that by comparing various countries with similar inequality index and totally different rates. The rates are set by the Fed and influenced by the bond vigilantes. That's it.
I have no problem of inequality. If Bill Gates and Steve Jobs get rich, their employee have a better life too, so does the society. But if the inequality is caused by moneytaty policy which facilites wealth transfer by blowing bubbles and rent seeking, I do have a problem with inequality.
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