Florida State Seminoles

[hedge]

I know what it was about, faggot...

[hedge]

[hedge]

[hedge]

[innocentbystander]

I know what it was about, faggot...

You do now. Not sure you knew even 10 minutes ago….

[DooKSucks]

My plan is to slaughter people in their beds

You're going to dutch oven them to death?

[innocentbystander]

It makes no sense, for example, that the market capitalization of Tesla is $825 billion while Toyota, which sold six times as many cars last year as Tesla, is $295 billion. Meanwhile, the housing market—the repository of personal wealth for many Americans—has remained hobbled by high prices and mortgage rates.

I think you need to contact Forbes because this makes no sense. If the price for durable good remains high, and no one wants to buy, that is not a hobbled market. It’s just super bad for the realty brokers and agents. The sellers don’t care because the price remains high or they won’t sell. And the buyers don’t care because they can just rent. Fuck the agents.

While The Great Rejection is not a real thing yet, it is an idea that consumers are warming to—spend less and save more—that could be with us for some time to come.

https://www.forbes.com/sites/gregpetro/ ... oils-over/

This is bad? He’ll no. This is good. People should spend less and save more. Absolutely. Buying everything all the time and is it any wonder why people think they are so poor? They think they are poor because of they are poor. If they spend less and save, that will make poor people, richer.

[hedge]

You're not very bright, are you?

[innocentbystander]

You're not very bright, are you?

I wasn’t attacking you hedge. I was attacking the ignorance of the writer at Forbes. If real estate is the repository of wealth for so many ordinary Americans how could it possibly be “hobbled” by high prices? The owners love it. And if you can’t afford to buy in just keep renting. Fuck everyone else.

And saving (not spending) makes people richer. There is a reason why the millionaire whores at Only Fans are broke and poor and resentful the minutes they become too old and no longer have any subscribers. No whore ever passed a Marshmallow test.

[aTm]

The repository of personal wealth for Americans is hobbled by...high prices?

[innocentbystander]

Exactly.

The writer wrote a bunch of irrational bullshit. And hedge took the time to copy-paste all that bullshit here for our consumption.

[hedge]

"People should spend less and save more."

Take this to the extreme. What if everyone only bought the bare necessities and saved the maximum amount possible, hoarding cash under the mattress or in a saving account. The economy would crash and nobody would save anything b/c they wouldn't have jobs. If the money quits churning, everybody is fucked...

[innocentbystander]

"People should spend less and save more."

Take this to the extreme. What if everyone only bought the bare necessities and saved the maximum amount possible, hoarding cash under the mattress or in a saving account. The economy would crash and nobody would save anything b/c they wouldn't have jobs. If the money quits churning, everybody is fucked...

Sure let’s take this to the extreme.

No one is putting cash in a can. No one other than criminals who can’t launder it. Everyone else puts whatever they can save in the bank. Or into the stock market. Or cryptocurrency. Or real estate. Or bonds. Or gold for goodness sake. All of these things are methods of saving because the money is not consumed.

If everyone and their brother put all their saved cash in the bank, interest rates would drop near to zero. Zero. Which is fucking GREAT because the entrepreneurs who have outstanding business ideas will be able to borrow that money to create their own businesses or maybe expand on what their hey already have. And small business is collectively the single largest employer there is. More jobs means wages go up and people start quitting and taking jobs elsewhere. Which further heats the economy.

Growing your economy by way of spending and consuming just inflates prices but never wages. That is why rent and real estate is so high. Everyone is building apartment buildings now and not houses or condos. That is because young people can not (and have never) saved a penny.

[hedge]

"The repository of personal wealth for Americans is hobbled by...high prices?"

I asked the person who posted the article, got a couple of replies:

1) High prices and high mortgage rates prevent folks from buying (especially existing homeowners who would usually trading up — the vast middle of the market between entry level homes and luxury properties that have a different market less influenced by mortgage rates). Lack of buyers limits or delays ability of existing homeowners to cash out the value accrued in their property.

2) It's an asset that has always had limited liquidity...and that is being greatly exaggerated now. Pricing is high indeed but increasingly there are fewer paths to finding buyers to fulfill those sales. It is a WEIRD housing market out there right now.

Builders are keeping prices elevated by doing HUGE rate buydowns which the builder pays for at closing. Thats the only way they can move inventory. But it fucks with comps somewhat fierce.

As an example, I reviewed a closing statement on a townhouse in Angier last week. Purchase price was $309,000 but the buyer used the builder's lender and the builder bought the rate down on a 30 year FHA note to 4.25% fixed. The builder paid nearly $32,000 to buy that rate. That means the true cash price of the home should be 277,000. Here's the kicker....builder won't sell it to you for a penny less than $309,000 even if you're paying cash. If you offered them 295k cash (which is a MUCH better net for them), they will turn it down because that comp ruins their ability to sell the next 150 in the neighborhood for $309k and higher. So they, like every other builder, will continue this shell game and slowly increase pricing while building their own comps for the marketplace.

However, homeowners can't compete with that because the bulk buydowns available to a builder with 300 lots arent there for individual sellers and the best they can buy the rate down to is a couple % higher than what the new construction offers.

It is a mess and it is getting worse.

[hedge]

"Which is fucking GREAT because the entrepreneurs who have outstanding business ideas will be able to borrow that money to create their own businesses or maybe expand on what their hey already have."

Why would they do that if nobody is buying what they're selling? Remember, essentials only, every other penny goes to savings. The economy would come to a standstill. You don't get to have it both ways, talking about severe austerity in terms of savings but then crowing about "outstanding business ideas" that nobody is going to buy the products of. No restaurants, no Netflix, no bars, no booze or cigarettes, no nothing, just basic food staples and a few items of clothing and everything else goes to savings. It's a recipe for disaster. But I suppose you in your infinite wisdom are now going to tell us exactly the level of spending that will be the absolute perfect level to balance savings and spending and keep the economy humming right along. Go ahead, IB. Thrill us with your acumen. Funny how somebody can be smart enough to figure out something like that and still be such a motherfucking idiot. But you did it...

[innocentbystander]

"Which is fucking GREAT because the entrepreneurs who have outstanding business ideas will be able to borrow that money to create their own businesses or maybe expand on what their hey already have."

Why would they do that if nobody is buying what they're selling? Remember, essentials only, every other penny goes to savings.

We had this economy, this EXACT economy. It was called, World War II. There were NO consumer goods to buy (none at all) from 1942 to 1945. Nothing. No cars were made for consumers. But we had jobs (a fuckload of jobs) and people had a place to live and enough to eat. But they were NOT even allowed to buy all that much to eat, they had to get ration coupons from the government in order to buy beef from the supermarket! That is no joke.

So, everyone saved. Everything. They all bought war bonds, shit loads of war bonds. All savings. And the result? Our economy finally escaped the Great Depression. It wasn't the New Deal that saved us, it was killing Krouts.

And no excessive consumer spending didn't kill the economy. Quite the opposite.

The economy would come to a standstill. You don't get to have it both ways, talking about severe austerity in terms of savings but then crowing about "outstanding business ideas" that nobody is going to buy the products of. No restaurants, no Netflix, no bars, no booze or cigarettes, no nothing, just basic food staples and a few items of clothing and everything else goes to savings. It's a recipe for disaster. But I suppose you in your infinite wisdom are now going to tell us exactly the level of spending that will be the absolute perfect level to balance savings and spending and keep the economy humming right along. Go ahead, IB. Thrill us with your acumen. Funny how somebody can be smart enough to figure out something like that and still be such a motherfucking idiot. But you did it...

We. Must. Do. Something. Something must be done about the federal debt. The only people who do not give a shit about our almost $37 trillion dollar federal debt are very old people (who know they had robbed their great grandchildren, but they are too old to be shamed), childless middle age adults, and the ignorant. Which one are you?

This federal debt (a debt that I did not personally create, and perhaps you didn't add to it either hedge, I don't know) you and I and everyone on this forum is responsible for it. We own it. This is ours. We have to pay it off even if we didn't create it. This is our own personal World War II. Only in this war, we are not sacrificing 400,000 of our own lives. Instead, 80,000,000 of us are called to sacrifice spending and ordered to pay about $100,000 (or more) in tariffs/value-added-taxes to the federal government. Or, we can choose NOT to pay to import anything (I am down with that) and let everyone else pay the damn tariffs. But the best thing we can do it save, not buy anything (no imports, NONE) no more immigrants, and take nothing from government in the form of entitlement. Do not add to a problem that someone else must answer for.

A tariff is the way Trump can really raise taxes on rich people without raising taxes on anyone else. You don't get a tax credit or even a tax deduction for a tariff. You just pay more. And more. That is the way it should be.

The economy will not scream to a halt. It doesn't work like that. The super expensive, non-essential things, they are the first to go and they are the last to recover. That is why they are the most expensive. That is why they are all likely to be tariffed, assuming they are imported.

[hedge]

Trump, the great uniter...

China, Japan, South Korea will jointly respond to US tariffs, Chinese state media says

https://zzlpolitics.com/threads/tariffs ... ost-140462

[Tree]

Hey guys. I just decided to believe everything the Chinese state media says because it fits my retarded small minded political views.

[hedge]

That's true, except insert Tik Tok for Chinese state media...

[hedge]

Oh and that was Reuters you jackass. Not that you know what that is...