Posted on 01/26/2022 4:07:08 PM PST by blam
House prices will be so high that few will be able to pay the property tax.
No it won’t.
(Ultimately, many people, myself included, believe that there will be no way for us to escape a catastrophic end result: markets will crash, the dollar will collapse, or a combination of both.)
I expected such; have for decades.
A worldwide crash requiring all-electronic currency. In many ways we’re well on our way. Then one can only be approved to buy and sell with an economic Mark of the Beast.
Will that be right hand?
Or forehead?
Global Citizen Festival - 666 - “peace” in the Middle East
“House prices will be so high that few will be able to pay the property tax.”
Ridiculous.
It’s all falling into place
As it should
Indeed! Watching and waiting. Maranatha!!
Hyperventilation from someone who has managed to scare himself into thinking that we are on the precipice of “ a catastrophic end result: markets will crash, the dollar will collapse, or a combination of both.”
What has developed is something like what we lived through under Carter, which while extremely unpleasant isn’t “only a couple CPI percentage points away from the psychology of hyperinflation starting to set in”
Biden, or whoever is running this clown show, sowed the seeds of disaster by shutting down pipelines and fracking on day one, by increasing regulation of the economy and by jacking up the minimum wage. Every one of these was inflationary.
The next President needs to follow the example of both Reagan and Trump by slashing regulations, and by rewarding energy production. We are stuck with the permanent cost increase of the minimum wage.
The Fed will have to slam the brakes on credit expansion and if it needs to be as harsh as Volcker we will see double digit interest rates and god help the poor stock market...
Don’t spoil the story. Freepers love good fear porn.
.
“Don’t spoil the story. Freepers love good fear porn.”
You are right but I’ve watched people stop themselves from prospering all my adult life over this silly crap, it’s sad.
I blame the education/indoctrination system.
When you want to reverse the stimulus, how is the Fed supposed to unhand it out?
The Fed will have to slam the brakes on credit expansion
Yeah, they'd better shut down the bond purchases, like now. Buying $30 billion a month, with low unemployment and ridiculous inflation is Elizabeth Warren level stupidity.
Said what I wanted to say.
The reserve bank stimulus actions are a problem but likely warranted due to the absurd shutdown starting in March 2020 which we now know was completely unwarranted.
The REAL causes of the recently high inflation are due almost ENTIRELY to the illegitmate administration’s insane shutdown of significant sectors of the economy, the oil patch being the most important.
And don’t forget the real reason for home price inflation, mostly centered in red states: people fleeing the BLM riots.
Today the elderly attorney who sits atop the American banking system showed again why he should be relegated to being a small town ambulance chaser. He first precipitated a market “correction” by throwing a bomb back on January 5th. Then today, talking after the meeting minutes were released he managed to drive the market down 2 percentage points with his ill considered words. Because of these unprecedented moves he has managed to destroy hundreds of billions in value literally in days. If there is now to be a crash and a concomittant recession, it will be in no small part due to him.
Earlier he had said the inflation was transitory and that is mostly correct for the reasons we have stated: Biden did it. But Powell couldnt say that, too,political. And now he has bought the line that it’s all the Fed’s fault. So time to crash the market. And none of the financial press disagrees with that, because to a man, they all refuse to condemn the Thief In Chief.
But he’s the real problem. And now Powell because he’s groveling too.
At this point, Ben Bernanke comes off a lot better.
The system is broken. Prolly beyond repair.
Hadn’t seen you on a thread here in many a year. Glad to see you’re evidently OK.
Thanks. Still pop in occasionally.
“But he’s the real problem. And now Powell because he’s groveling too.
At this point, Ben Bernanke comes off a lot better.”
IMO Bernanke comes off better because he was heading the central bank when we were looking at a financial abyss type meltdown in 2008-2009. He had more leeway to patch things up.
Powell is in a different position in 2022, but I’m optimistic that he’s tough enough to get the job done.
His job is to bring sanity back to the real estate & equities markets, by incrementally raising interest rates so reasonable valuations can occur. If fiscal insanity continues, then market inefficiency will continue to be rewarded which doesn’t do squat for anybody.
We can’t just keep jamming funny money into real estate and the stock market without a horrible outcome. Cash & Bonds are also important markets, markets that shouldn’t be ignored in this orgy of speculative euphoria.
Furthermore, a monetary tightening should shore up the much maligned dollar. I say maligned because modern doomsday types are writing it off as a dinosaur, but they’re wrong in their hubris.
The dollar isn’t going away anytime soon, you can “bank on it” being around another 500 years, give or take 300.
✝️✝️✝️🙏🙏🙏🛐🛐🛐
Bankers were routinely HANGED for swindling the people in this country for many many years
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