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invite response
2022 Jun 10, 10:06am 304 views 7 comments
by Ceffer ➕follow (5) 💰tip ignore
Now, with investment losses, is that rounding out at a total loss of spending power of over 38 percent in a year? Housing next. "My beautiful equity, melting, melting!" Yet, we're not in a recession, we're better off than ever, says the Face Mask In Chief.
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2
HeadSet
2022 Jun 10, 11:02am
HeadSet
2022 Jun 10, 11:02am
Al_Sharpton_for_President says
Well, maybe in the US. But is has been far worse in other places and will get worse here.
W.O.A.T.
Well, maybe in the US. But is has been far worse in other places and will get worse here.
4
clambo
2022 Jun 10, 12:16pm
I’m having Deja Vu for the 70’s and Jimmy Carter.
I’m annoyed at the scenario that played out.
1. Chinese idiots fool around and the Wuhan virus gets out, spreading all over the place.
2. American idiots overreact and shut down the economy.
3. Politicians give away free money to compensate for shutting down everything.
4. Too much free money flows and causes inflation (over $3,100 billion)
5. Vote (fraud) by mail is allowed for the first time in USA history.
6. Trump is defrauded and Biden steals the election. Carter was nutty, Biden is evil and demented.
7. Biden makes inflation worse by fucking with the oil companies, canceling a pipeline, leases, etc. Oil goes up as does gasoline, 100% increase at the pump.
8. Mad Vlad invades Ukraine, the West response causes a further decrease of oil production and higher price of oil.
9. Federal Reserve thinks it can cure inflation by raising interest rates, which cannot affect oil prices and doesn’t stop wasteful government spending (which causes inflation).
10. Higher interest rates cause expected results in the stock market; stocks dislike high interest rates.
11. Anyone who has a retirement account sees his net worth decrease (20% as of today).
12. Recession is likely and imminent.
Have I omitted something above?
I’m annoyed at the scenario that played out.
1. Chinese idiots fool around and the Wuhan virus gets out, spreading all over the place.
2. American idiots overreact and shut down the economy.
3. Politicians give away free money to compensate for shutting down everything.
4. Too much free money flows and causes inflation (over $3,100 billion)
5. Vote (fraud) by mail is allowed for the first time in USA history.
6. Trump is defrauded and Biden steals the election. Carter was nutty, Biden is evil and demented.
7. Biden makes inflation worse by fucking with the oil companies, canceling a pipeline, leases, etc. Oil goes up as does gasoline, 100% increase at the pump.
8. Mad Vlad invades Ukraine, the West response causes a further decrease of oil production and higher price of oil.
9. Federal Reserve thinks it can cure inflation by raising interest rates, which cannot affect oil prices and doesn’t stop wasteful government spending (which causes inflation).
10. Higher interest rates cause expected results in the stock market; stocks dislike high interest rates.
11. Anyone who has a retirement account sees his net worth decrease (20% as of today).
12. Recession is likely and imminent.
Have I omitted something above?
5
EBGuy
2022 Jun 10, 1:18pm
Target slashing prices to clear out inventory
The retailer is working to clear amassed inventory ahead of the critical fall and holiday shopping seasons.
The retailer is working to clear amassed inventory ahead of the critical fall and holiday shopping seasons.
7
B.A.C.A.H.
2022 Jun 10, 6:27pm
B.A.C.A.H.
2022 Jun 10, 6:27pm
Ceffer says
Ahem, homie: for most of us, housing is not an investment. It's a place to live. With an owners' equivalent rent.
Nobody here in the SF Bay Area coerced recent buyers to pay almost double each month what it would cost at market rates to rent the same type home. They chose to do it. Bless their hearts. Investment or Malinvestment?
Those who paid cash or made a large down payment, Good For Them. Destruction of Capital and big property tax bill, whatever. They chose it. No coercion involved. At least they only have the recurring tax bill to make.
The "equity" is Sunk Capital, until they sell. So if we didn't sell we didn't really lose anything, because we didn't really have anything anyway. "Vapor Equity". Too bad about the recurring tax bills though. Those pensions are expensive.
Now, with investment losses,.... Housing next
Ahem, homie: for most of us, housing is not an investment. It's a place to live. With an owners' equivalent rent.
Nobody here in the SF Bay Area coerced recent buyers to pay almost double each month what it would cost at market rates to rent the same type home. They chose to do it. Bless their hearts. Investment or Malinvestment?
Those who paid cash or made a large down payment, Good For Them. Destruction of Capital and big property tax bill, whatever. They chose it. No coercion involved. At least they only have the recurring tax bill to make.
The "equity" is Sunk Capital, until they sell. So if we didn't sell we didn't really lose anything, because we didn't really have anything anyway. "Vapor Equity". Too bad about the recurring tax bills though. Those pensions are expensive.
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