Remember the good old Carter days of mortgages at 22% ?
Putting the hurt on the auto market as well, with inventory piling up at 100+ days. I know idiots who are paying over $1,500 a month on their car (an F-150 in one instance) loans. More than their mortgage. Oh well, it's their money.
Ummm, this was the intended result of raising rates.
Just went to contract to sell my house in NY. On the market for 15 days. Contract is for full asking price.
Everything Biden touches turns to stone? Not the term I would use, but it sure isn’t anything like a treasured substance. Bidenomics is a very facetious title for dressing up a financial calamity, none of which had to come into existence.
The basis of wealth is not stores of gold or other precious metals, it is the ability to convert energy into useful product. What used to be the cheapest form of energy, in terms of converting it to useful form, has been petroleum and natural gas. But some arcane “scientific” considerations have led to the heavy taxation and reduced extraction of these primary energy sources, and an overall strangulation of virtually all the economy. Potentially, the use of nuclear power to generate electricity could make the electricity so cheap that it need no longer be metered, just a simple flat charge for most users. But suspicions about nuclear energy still persist, even though virtually every objection has been overcome with newer designs of Small Modular Nuclear Reactors.
Central state “planners” of a managed economy just cannot get out of their own way. And Bidenomics is as much of a “planned economy” as the old “Five-Year Plans” so favored in the Soviet Union.
I would not even loan family money at 2 or 3%. Just silly.
Our economy has been wrecked. The ways to fix it are well known. When you spend too much you have to cut back. Way back. We have neither the will or the leadership to do it. This article from yesterday is just one of many examples of the tip of the iceberg in waste, fraud and abuse. The only way to stop things like this is to ruthlessly stop almost everything and build back to something responsible. Even if there were the will to be fiscally responsible there are not enough hours in the day to execute the process in a systematic way. The government needs a huge axe.
https://www.theepochtimes.com/us/north-carolina-facility-to-house-migrant-children-remains-empty-after-years-of-preparation-5660486?utm_source=Goodevening&src_src=Goodevening&utm_campaign=gv-2024-06-26&src_cmp=gv-2024-06-26&utm_medium=email&est=AAAAAAAAAAAAAAAAYvc5YRofh9bN6LcCu0VKCbd9x0wMJiVA28Z54A6ks2wLVg%2BwXnSooNWHaQ%3D%3D
Have other freepers seen what I have seen in my neck of the woods. There are no single homes being built. Only massive apartment complexes. My Parents live in Oregon and when I visit all I see are apartments being built. Every scrap of land now.
Obamatons.