Who is John Galt?
by EconPete
on 9 Jun 2022
2 comments, latest 3 years ago
Who is John Galt? Who is Satoshi Nakamoto? One is fictional, one is reality. Both godlike in their abilities. They are leading the alpha men away from a destructive system ...
EconPete
United States, joined 2011 Mar 8 Has 2 followers. Is following 1.➕follow (2)
threads pinned by EconPete
authored 37 comments and 47 threads
EconPete's threads
On the Bubble(s)
by EconPete on 3 Feb 2018 1 comment, latest 7 years ago
How will Powell, the new Federal Reserve Chair, deal with the bubble economy? https://www.usnews.com/opinion
by EconPete on 3 Feb 2018 1 comment, latest 7 years ago
How will Powell, the new Federal Reserve Chair, deal with the bubble economy? https://www.usnews.com/opinion
by EconPete on 14 Jan 2018 77 comments, latest 7 years ago
http://www.businessinsider.com This is a great article that uses the Case-Shiller housing price index to compare home affordability today to the bubble ten years ago. This is eye opening!!
Crypto currency and the future!
by EconPete on 13 Jan 2018 3 comments, latest 7 years ago
The Glass-Steagle law was enacted during the Great Depression to separate sectors of the banking industry from insurance and investment. The repeal of that law allowed for the housing and ...
by EconPete on 13 Jan 2018 3 comments, latest 7 years ago
The Glass-Steagle law was enacted during the Great Depression to separate sectors of the banking industry from insurance and investment. The repeal of that law allowed for the housing and ...
When do homes depreciate if they never go down in value?
by EconPete on 23 Apr 2012 38 comments, latest 11 years ago
Homes are always deteriorating, due to the 2nd law of thermodynamics, and thus should always be devaluing. It would be irrational to assume otherwise. Nothing on this earth is ...
by EconPete on 23 Apr 2012 38 comments, latest 11 years ago
Homes are always deteriorating, due to the 2nd law of thermodynamics, and thus should always be devaluing. It would be irrational to assume otherwise. Nothing on this earth is ...
To Redistribute or to Not Redistribute?
by EconPete on 27 Oct 2013 13 comments, latest 11 years ago
It is true that the top 1% of wealth holders in the U.S. have 40% of the wealth and that the bottom 40% of wealth holders hold about 2% ...
by EconPete on 27 Oct 2013 13 comments, latest 11 years ago
It is true that the top 1% of wealth holders in the U.S. have 40% of the wealth and that the bottom 40% of wealth holders hold about 2% ...
Baby boomers will be poorer than their renting children when housing deflates!
by EconPete on 27 Oct 2012 5 comments, latest 12 years ago
http://www.cepr.net/documents/ This analysis looks at the net worth of baby boomers in two age groups and determines who is wealthier; homeowners or renters. This paper was written in 2008 ...
by EconPete on 27 Oct 2012 5 comments, latest 12 years ago
http://www.cepr.net/documents/ This analysis looks at the net worth of baby boomers in two age groups and determines who is wealthier; homeowners or renters. This paper was written in 2008 ...
Peter Schiff on the future of the U.S. economy and housing.
by EconPete on 13 Aug 2012 14 comments, latest 13 years ago
It starts at about the 2:00 point. http://www.youtube.com/embed/t #housing
by EconPete on 13 Aug 2012 14 comments, latest 13 years ago
It starts at about the 2:00 point. http://www.youtube.com/embed/t #housing
by EconPete on 18 Apr 2012 30 comments, latest 13 years ago
This data clearly shows the relationship between interest rates and home prices. The graph has an R squared of 0.8828 (excellent for a social science). From this information we ...
Inflation is a symptom and representation of industry socialization
by EconPete on 4 Jul 2012 8 comments, latest 13 years ago
Industry price inflation is a symptom and representation of industry socialization. Deflation is synonymous with capitalism. When a desired new product is developed in the economy there is little ...
by EconPete on 4 Jul 2012 8 comments, latest 13 years ago
Industry price inflation is a symptom and representation of industry socialization. Deflation is synonymous with capitalism. When a desired new product is developed in the economy there is little ...
Public Ponzi debt will explode in the near future!
by EconPete on 24 Jul 2012 32 comments, latest 13 years ago
Over the last 200 years the populations of the US and every industrialized nation has doubled rapidly. The US illustrates how over very short periods of time when the ...
by EconPete on 24 Jul 2012 32 comments, latest 13 years ago
Over the last 200 years the populations of the US and every industrialized nation has doubled rapidly. The US illustrates how over very short periods of time when the ...
We have an incentive to steal resources from future generations!
by EconPete on 31 Jul 2012 20 comments, latest 13 years ago
The concept of the “tragedy of the commons†has never been applied, that I know of, on an intergenerational basis. Because we collectively own the resources with the inhabitants ...
by EconPete on 31 Jul 2012 20 comments, latest 13 years ago
The concept of the “tragedy of the commons†has never been applied, that I know of, on an intergenerational basis. Because we collectively own the resources with the inhabitants ...
Eliminating health insurance will fix all healthcare problems!
by EconPete on 8 Jul 2012 22 comments, latest 13 years ago
The government’s demand that everyone has health insurance is socialism. Why can’t someone be self insured? Don’t we own our own body? If someone makes a wrong calculation and ...
by EconPete on 8 Jul 2012 22 comments, latest 13 years ago
The government’s demand that everyone has health insurance is socialism. Why can’t someone be self insured? Don’t we own our own body? If someone makes a wrong calculation and ...
Stocks will peak when the combined developed nations’ population peaks.
by EconPete on 19 Jul 2012 10 comments, latest 13 years ago
What makes stock values go up or down? Well, it depends on what driving factors are motivating stock valuations. Most people think stock fluctuations have to do with how ...
by EconPete on 19 Jul 2012 10 comments, latest 13 years ago
What makes stock values go up or down? Well, it depends on what driving factors are motivating stock valuations. Most people think stock fluctuations have to do with how ...
Public workers are communists, by definition!
by EconPete on 15 Jul 2012 6 comments, latest 13 years ago
Straight from dictionary.com com•mu•nism noun 1. a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community ...
by EconPete on 15 Jul 2012 6 comments, latest 13 years ago
Straight from dictionary.com com•mu•nism noun 1. a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community ...
Public teacher’s high pay is not justified!
by EconPete on 10 Jul 2012 142 comments, latest 13 years ago
Many teachers claim their incomes are insufficient. Many times they are not compared to the private sector because most teachers have very little real world, private sector, experience. They ...
by EconPete on 10 Jul 2012 142 comments, latest 13 years ago
Many teachers claim their incomes are insufficient. Many times they are not compared to the private sector because most teachers have very little real world, private sector, experience. They ...
Unions are not the problem in the economy, public unions are!!!!
by EconPete on 2 Jul 2012 63 comments, latest 13 years ago
A union shop in a private company is still under many of the same capitalistic constraints as the company was prior to the formation of the union. If the ...
by EconPete on 2 Jul 2012 63 comments, latest 13 years ago
A union shop in a private company is still under many of the same capitalistic constraints as the company was prior to the formation of the union. If the ...
Voting is for irrational people!
by EconPete on 26 Jun 2012 18 comments, latest 13 years ago
The United States' political democracy elects their leaders based on the largest number of irrational thinkers. This can easily be proven! In the business world, companies and individuals are ...
by EconPete on 26 Jun 2012 18 comments, latest 13 years ago
The United States' political democracy elects their leaders based on the largest number of irrational thinkers. This can easily be proven! In the business world, companies and individuals are ...
High healthcare costs are a factor in the prolongation of the housing slump.
by EconPete on 17 Jun 2012 Posted 13 years ago
Many 55 to 65 year old working adults are putting off retirement because of the inability to pay extremely high health insurance. If these well paid workers, who would ...
by EconPete on 17 Jun 2012 Posted 13 years ago
Many 55 to 65 year old working adults are putting off retirement because of the inability to pay extremely high health insurance. If these well paid workers, who would ...
Stock fluctuations make even neutral % market adjustments a losing proposition!
by EconPete on 13 Jun 2012 4 comments, latest 13 years ago
The stock market is fluctuating every minute of every business day. Each time an individual stock drops 1% it needs a 1.0101% increase to get back to its starting ...
by EconPete on 13 Jun 2012 4 comments, latest 13 years ago
The stock market is fluctuating every minute of every business day. Each time an individual stock drops 1% it needs a 1.0101% increase to get back to its starting ...
Patrick, what happened to the “Debt is Slavery†logo?
by EconPete on 13 Jun 2012 5 comments, latest 13 years ago
Maybe this statement was too strong for sensitive people? A softer message may be; Debt gives another person claim to your assets. If your assets fall short, the lender ...
by EconPete on 13 Jun 2012 5 comments, latest 13 years ago
Maybe this statement was too strong for sensitive people? A softer message may be; Debt gives another person claim to your assets. If your assets fall short, the lender ...
The wealth distribution resembles the intelligence distribution.
by EconPete on 12 Jun 2012 22 comments, latest 13 years ago
Top 1% = 40% Bottom 40% = 2% This means that if the top 1 percent gave up just 2% of their share of the countries net worth they ...
by EconPete on 12 Jun 2012 22 comments, latest 13 years ago
Top 1% = 40% Bottom 40% = 2% This means that if the top 1 percent gave up just 2% of their share of the countries net worth they ...
Why do realtors try to claim 6% ownership to all property in the U.S.?
by EconPete on 6 Jun 2012 114 comments, latest 13 years ago
If competition could be restored to the home buying process, transaction costs could be greatly reduced which would connect more buyers and sellers with deals. This claim to 6% ...
by EconPete on 6 Jun 2012 114 comments, latest 13 years ago
If competition could be restored to the home buying process, transaction costs could be greatly reduced which would connect more buyers and sellers with deals. This claim to 6% ...
Anti-Capitalism “thinkers†enjoying Doritos while on an Apple computer.
by EconPete on 7 Jun 2012 22 comments, latest 13 years ago
Many hypocritical, anti-corporation, and anti-capitalism thinkers say businesses are greedy or are the root of all evil in society. Wow, how blatantly blind and ignorant they must be. If ...
by EconPete on 7 Jun 2012 22 comments, latest 13 years ago
Many hypocritical, anti-corporation, and anti-capitalism thinkers say businesses are greedy or are the root of all evil in society. Wow, how blatantly blind and ignorant they must be. If ...
by EconPete on 3 Jun 2012 20 comments, latest 13 years ago
Dotted line = price to income ratio Solid line = price to rent ratio Many people compare the United States' current economic difficulties with Japan's problems 15 years ago. ...
Banks are stupid for issuing fixed-rate mortgages when rates will increase.
by EconPete on 30 May 2012 12 comments, latest 13 years ago
When interest rates go up to 5.5% from 3.5% banks will be losing a full 2% on their fixed-rate investments. Why did banks ever issue long-term fixed-rate mortgages based ...
by EconPete on 30 May 2012 12 comments, latest 13 years ago
When interest rates go up to 5.5% from 3.5% banks will be losing a full 2% on their fixed-rate investments. Why did banks ever issue long-term fixed-rate mortgages based ...
Renters are wealthier than 95% of recent first time house owners.
by EconPete on 28 May 2012 17 comments, latest 13 years ago
These calculations are based on a Price/Annual Rent Ratio of about 20 or 21, which is about average for the country. Renter: 401k = $100,000 Cash = $50,000 Misc. ...
by EconPete on 28 May 2012 17 comments, latest 13 years ago
These calculations are based on a Price/Annual Rent Ratio of about 20 or 21, which is about average for the country. Renter: 401k = $100,000 Cash = $50,000 Misc. ...
The stock market and its training wheels.
by EconPete on 8 Mar 2012 21 comments, latest 13 years ago
The reason that the stock market has rebounded since 2008 is not for any authentic reasoning. It is because the government is taking on massive amounts of debt effectively ...
by EconPete on 8 Mar 2012 21 comments, latest 13 years ago
The reason that the stock market has rebounded since 2008 is not for any authentic reasoning. It is because the government is taking on massive amounts of debt effectively ...
Facebook Stocks are a Ponzi scheme. At least a home has real worth.
by EconPete on 22 May 2012 27 comments, latest 13 years ago
In order to fully understand what gives stocks value one needs follow the money. Take for instance the recently issued Facebook shares. The money comes from real people, their ...
by EconPete on 22 May 2012 27 comments, latest 13 years ago
In order to fully understand what gives stocks value one needs follow the money. Take for instance the recently issued Facebook shares. The money comes from real people, their ...
China’s disastrous affects on U.S. interest rates.
by EconPete on 19 Apr 2012 6 comments, latest 13 years ago
In a closed economy where investments and savings do not flow across boarders, interest rates respond to local market conditions. When the supply of savings gets low, interest rates ...
by EconPete on 19 Apr 2012 6 comments, latest 13 years ago
In a closed economy where investments and savings do not flow across boarders, interest rates respond to local market conditions. When the supply of savings gets low, interest rates ...
by EconPete on 17 May 2012 13 comments, latest 13 years ago
Does anybody actually think the current stock market is sustainable? Everyone knows that past performance does not indicate future stock performance. But, everyone also knows about the two previous ...
The maximum mortgage length should be 10 years!
by EconPete on 16 May 2012 52 comments, latest 13 years ago
I have recently seen new car dealers advertising: “No money down 0% financing for 72 months.†Are you serious? 6 years to pay for a car! People need to ...
by EconPete on 16 May 2012 52 comments, latest 13 years ago
I have recently seen new car dealers advertising: “No money down 0% financing for 72 months.†Are you serious? 6 years to pay for a car! People need to ...
Ben Bernanke’s $672,000 30 year mortgage and his son’s $400,000 student debt
by EconPete on 17 May 2012 2 comments, latest 13 years ago
http://www.zerohedge.com/news/ http://theeconomiccollapseblog Wow, I’m glad to see the United States’ Federal Reserve Chairman is a fiscal conservative. It is no wonder this fool is lowering interest rates. He couldn’t ...
by EconPete on 17 May 2012 2 comments, latest 13 years ago
http://www.zerohedge.com/news/ http://theeconomiccollapseblog Wow, I’m glad to see the United States’ Federal Reserve Chairman is a fiscal conservative. It is no wonder this fool is lowering interest rates. He couldn’t ...
by EconPete on 13 May 2012 5 comments, latest 13 years ago
With the advent of the retiring baby-boom generation, Social Security and Medicare taxes will unquestionably increase. The only question is, “How much will these forms of taxation increase and ...
Demographics on why housing will drop for 10 years!
by EconPete on 9 Mar 2012 26 comments, latest 13 years ago
Naturally when looking at the future value of the current stock of housing, population growth is a major variable in determining its worth. Another important factor is the median ...
by EconPete on 9 Mar 2012 26 comments, latest 13 years ago
Naturally when looking at the future value of the current stock of housing, population growth is a major variable in determining its worth. Another important factor is the median ...
How do you own a house when you rent it from the bank?
by EconPete on 8 May 2012 150 comments, latest 13 years ago
People are confused when they say “my house†when they make mortgage payments to the bank. The dweller doesn’t own the home until the lien from the bank is ...
by EconPete on 8 May 2012 150 comments, latest 13 years ago
People are confused when they say “my house†when they make mortgage payments to the bank. The dweller doesn’t own the home until the lien from the bank is ...
Why do home appraisers not use regression statistics to determine home values?
by EconPete on 6 May 2012 8 comments, latest 13 years ago
This would generally require appraisers to have brains, or at least have an interest in an accurate home appraisal. With today’s technology and a simple knowledge of a statistical ...
by EconPete on 6 May 2012 8 comments, latest 13 years ago
This would generally require appraisers to have brains, or at least have an interest in an accurate home appraisal. With today’s technology and a simple knowledge of a statistical ...
Evidence of the infamous shadow inventory
by EconPete on 1 May 2012 6 comments, latest 13 years ago
6 months ago I went to an open house that just so happened to be empty. Both myself and the person I went with thought the price was 30% ...
by EconPete on 1 May 2012 6 comments, latest 13 years ago
6 months ago I went to an open house that just so happened to be empty. Both myself and the person I went with thought the price was 30% ...
House prices have increased relative to median individual income
by EconPete on 26 Apr 2012 21 comments, latest 13 years ago
What I don't like about the household income statistic is that it masks the fact that real individual median income has been falling for some time now. The fact ...
by EconPete on 26 Apr 2012 21 comments, latest 13 years ago
What I don't like about the household income statistic is that it masks the fact that real individual median income has been falling for some time now. The fact ...
"Plunder and Blunder" by Dean Baker
by EconPete on 24 Apr 2012 Posted 13 years ago
This short read is probably the best explanation for why the housing market formed a bubble. The book was published in 2009 and covers into the 90's explaining how ...
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by EconPete on 24 Apr 2012 Posted 13 years ago
This short read is probably the best explanation for why the housing market formed a bubble. The book was published in 2009 and covers into the 90's explaining how ...
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