patrick.net

Yes, even if salary inflates along with prices, you do not get richer but you pay more in taxes. Unfortunately, people feel rich when salaries and home prices inflate. One can feel smug now that the $600k home he bought 10 years ago is now valued at $1million, but in reality he still has the same home but now pays taxes like a million dollar homeowner.

HeadSet says

Yes, even if salary inflates along with prices, you do not get richer but you pay more in taxes. Unfortunately, people feel rich when salaries and home prices inflate. One can feel smug now that the $600k home he bought 10 years ago is now valued at $1million, but in reality he still has the same home but now pays taxes like a million dollar homeowner.

And in some point your property taxes will surpass your SS retirement, despite house paid off. Then you may be homeless.

HeadSet says

Yes, even if salary inflates along with prices, you do not get richer but you pay more in taxes. Unfortunately, people feel rich when salaries and home prices inflate. One can feel smug now that the $600k home he bought 10 years ago is now valued at $1million, but in reality he still has the same home but now pays taxes like a million dollar homeowner.

That’s American economy in a nutshell. We inflate prices of everything and call it markets.

REpro says

And in some point your property taxes will surpass your SS retirement

Ozempic Santa points the way.

The FED is unlikely to be eliminated, as it plays a main (biggest ever) role in controlling the money supply and managing currency stability. Powers no administration is realistically willing to just give up. Trump doesn't want to end the FED, he just wants to control it. While political leaders may pressure for lower interest rates to stimulate growth or increase asset prices, the Federal Reserve remains the main vehicle for money printer when government spending exceeds budgets, and assholes in Congress constantly exceed budgets. The real variable is not whether the Fed exists, but how much influence a president can exert over its policy decisions and how much it prevents inflation.

Whole system is screwed up and corrupt. We have been buying our own debt, think about it, that's Zimbabwe level crap.

https://x.com/Ambar_SIFF_MRA/status/2010703497709187338

https://www.coffeeandcovid.com/p/late-admissions-monday-january-12

And there it was. Unlike the Times’ useless article, Luna’s July 2025 press release explained: (1) when Powell lied to Congress; (2) exactly what he said that wasn’t true; (3) which documents proved the Fed Chair lied under oath; and (4) which specific laws he allegedly broke, right down to the statute number (to wit: perjury and making false statements to federal officials).

The dustup centers on the Federal Reserve’s hyper-luxury $2.5 billion renovation of its headquarters building. According to Rep. Luna, the project includes swanky features like a VIP dining room, private elevators, a yoga retreat, premium marble, Disneyesque water features, and a rooftop arboretum where stressed fed governors can blow off steam by hunting kidnapped taxpayers.

During his sworn Congressional testimony, Powell denied that any of those features were included in the “final plans.” But Ms. Luna found the final plans and, contrary to Powell’s claims, dang it, the sumptuous features were right there. Thus: five Pinocchios. ...

Powell’s tenure as Fed Chair expires in May, though he could still cling on until 2028 as one of the twelve Fed governors.

But if the DOJ develops evidence that Powell did lie, it would give Trump “cause” to legally fire him. Just saying.