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Old 09-18-2022, 09:33 AM   #16
lamboguy
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what i have learned in life is that rich people are going to eat the same steak no matter how good or how bad the economy is. the guy in the middle of the scene will always struggle no matter which way the economy blows.

this raising the rates like Powell is doing will have some very serious repercussions for years and years.

Trump put this guy in charge. if he had raised rates in 2019 like he was supposed to do, we would not have this mess. but the only caveat is Trump would have got rid of him had he done this before the election.

now it looks like Powell is playing catch-up ball and is going to keep raising rates to over 10% and we will be in a long-lasting depression.
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Old 09-18-2022, 10:31 AM   #17
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These guys gotta stop stealing my Schtick

https://www.newsmax.com/us/housing-m...17/id/1087924/

It’s just over the horizon

At least this time it won't be crashing my business, like in 2008. More so in SoCal than anything else people living it up on home equity fueled the limousine transportation industry my products went to. I no longer sell my own products, but make products and parts of products others sell. Most of it is hobby related, but either high end or hobbies that are part of people's lives.
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Old 09-18-2022, 01:55 PM   #18
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what i have learned in life is that rich people are going to eat the same steak no matter how good or how bad the economy is. the guy in the middle of the scene will always struggle no matter which way the economy blows.

this raising the rates like Powell is doing will have some very serious repercussions for years and years.

Trump put this guy in charge. if he had raised rates in 2019 like he was supposed to do, we would not have this mess. but the only caveat is Trump would have got rid of him had he done this before the election.

now it looks like Powell is playing catch-up ball and is going to keep raising rates to over 10% and we will be in a long-lasting depression.



If Powell does not raise rate wouldn't that have serious repercussions as well? Is there a right answer?
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Old 09-18-2022, 03:12 PM   #19
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If Powell does not raise rate wouldn't that have serious repercussions as well? Is there a right answer?
Nope.

It’s what happens when the government prints money for years and hands it out to anybody who asks………

I don’t know how it could have been avoided, it’s not like we could go back and read about the economy crashing in the mid 70’s

Remember those 16% interest rates on homes?

Biden is the peanut man all over again
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Old 09-18-2022, 03:17 PM   #20
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Free money for too long.

12 years of kicking the can.

Interesting since the economy on the whole is still humming along just fine... this could have been implemented a bunch of times if not for politics.
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Old 11-01-2022, 02:24 AM   #21
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Another rate increase this coming week.

Mortgage apps down to the lowest in 20 years.

7.07 rates being quoted locally.

Bad credit? 8.4 %

After next week? Who knows……

reductions in prices are swinging big time. I’m waiting for the bottom to maybe speculate a little. But it would have to be a GREAT deal.
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Old 11-01-2022, 08:48 AM   #22
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Another rate increase this coming week.

Mortgage apps down to the lowest in 20 years.

7.07 rates being quoted locally.

Bad credit? 8.4 %

After next week? Who knows……

....
.....l.
Exactly what the democrats wanted. Print gobs of money, cause inflation, then darn we have to raise rates to combat inflation, mortgages go through the roof, then darn people can't sell their house anymore and move to a red state. Darn!
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Old 11-01-2022, 08:54 AM   #23
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Free money for too long.

12 years of kicking the can.

Interesting since the economy on the whole is still humming along just fine... this could have been implemented a bunch of times if not for politics.
So Trump didn't print enough money?
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Old 11-01-2022, 10:17 AM   #24
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The democrats want to cause inflation. It's a hidden policy with MMT. They want to inflate out of some of their debts and obligations.

Take a defined benefit pension.

I worked at Citibank for a few years. I have a very small pension. If I started collecting it this year it would $600 per month. That amount does not change like Social Security just because there's inflation. It's going to remain at $600. Long term, it will become easier and easier for Citibank to pay me my pension and my pension will be worth less and less in purchasing power. For example, years back $600 could cover my maintenance bill. Now it's nowhere near enough.

Now think about all the blue city and state union jobs. Then the Federal jobs with pensions. Most of those people are going to get their money, but the value will be inflated away and easier for cities, states, and the Fed government to pay. They are basically stealing people's pensions through the back door of inflation. They'll blame greedy corporations, Russia, Covid and all other sorts of other lies when it's their own spending and money printing.
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Old 11-01-2022, 11:18 AM   #25
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I have a similar story with my wife's nj state teacher's pension. NJ state pensions were rated the most junk-bond like of any state. For years the state withheld money from the teacher's pay but didn't put it in the pension piggy bank. You may think that illegal but as long as the pension is "funded," they can legally do that. You know "here's a dollar, the pension is funded." By the way, the retired teachers did have inflation adjustment which they completely ignored. Never got one penny added over the years.

Fortunately, the checks kept coming but it was going to hit the fan. The state said they were something like 30 or 40 billion in the hole. Biden did bail them out and the pension is now on solid footing. Although neither my wife or I voted for him, despite knowing the pension might be in trouble. It sets a bad precedent for states not to have a balanced budget.

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Old 11-01-2022, 11:22 AM   #26
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Originally Posted by JustRalph View Post
Another rate increase this coming week.

Mortgage apps down to the lowest in 20 years.

7.07 rates being quoted locally.

Bad credit? 8.4 %

After next week? Who knows……

reductions in prices are swinging big time. I’m waiting for the bottom to maybe speculate a little. But it would have to be a GREAT deal.
You will own nothing and be happy.

https://communityimpact.com/houston/...cross-houston/

"Large investment firms are converting single-family homes to rentals and building communities to rent in the Houston metro area to help meet rising rental demand, while the housing shortage is driving more people into renting, real estate experts said."
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Old 02-27-2023, 11:17 AM   #27
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Been about 6 months since I started this thread.

I think the bottom is still a year away

https://www.washingtonexaminer.com/p...ns-lowest-1995
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Old 02-27-2023, 11:27 AM   #28
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It's amazing how bad economic news is trumpeted from the rooftops when Republicans like GWB and DJT are in office...yet somehow doesn't seem to get the same kind of panicked response from our friends in the media when Democrats are running the show.

All they do is downplay the current piss-poor economic conditions...things are always somehow IMPROVING...or they are doing a GREAT JOB handling whatever it is they can blame the prior administration for...

Under GWB and DJT, the world is always coming to an end any minute now.

But under Biden, things are going just great...just ask mostpost....lol
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Old 02-27-2023, 12:15 PM   #29
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It's amazing how bad economic news is trumpeted from the rooftops when Republicans like GWB and DJT are in office...yet somehow doesn't seem to get the same kind of panicked response from our friends in the media when Democrats are running the show.

All they do is downplay the current piss-poor economic conditions...things are always somehow IMPROVING...or they are doing a GREAT JOB handling whatever it is they can blame the prior administration for...

Under GWB and DJT, the world is always coming to an end any minute now.

But under Biden, things are going just great...just ask mostpost....lol

He is a 31 percenter or whatever the number think the Biden administration is doing a good job. I wonder if they are blinded by TDS, lie through their teeth to protect their kind, or they have allowed to be brainwashed by the mostly liberal media. How can someone look at Joe Biden and say he doesn't have dementia while also saying Kamala Harris is fit for the job?


As we that aren't brainwashed know the media as a whole moves further to the left every year. I wonder where and when it started? Unfortunately 1/2 the population takes in all the misinformation or believes the false narratives they sell.


A recent good example is all the flack Woody is getting for his monologue on SNL. The end result actually happened.
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Old 02-27-2023, 04:45 PM   #30
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Bush took the blame for the 2008 housing crash even though Repubs were screaming for over a year before for hearings on mortgage fraud etc. It was posted here many times. Barney Frank screaming the housing market was strong. Dems calling Repubs liars and chicken littles.

Nobody saying a word now about Biden……..
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