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re: Lebanon It's ok though since an american RV
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May 2, 2021 04:13
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I used to ship baking ingredients to Lebanon but after the explosion we haven’t had any orders so yikes
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May 2, 2021 04:18
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well i donated to the Lebanese Food Bank. i used to do meals on wheels when i had the time but i cant even imagine what they're going through over there.
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May 2, 2021 04:35
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Radirot posted:is it safe to donate here? https://lebanesefoodbank.org according to reddit they're ok https://www.reddit.com/r/lebanon/comments/iaaksr/list_of_lebanese_ngos_that_are_verified_and_safe/ 
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May 2, 2021 04:36
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BigPaddy posted:Take that example and apply it to consumer credit. Can’t buy X outright? Well we can loan you the money at a % rate per annum so you end up paying more for the same item that someone who has the money to buy it with cash and oh we have made certain items that are almost a requirement aka cars, smart phones so expensive that only a fraction of the population can buy cash and everyone else has to get it on credit. Oh and if the rich want credit well we give it to them at 0% interest anyway lol. You're really overselling cash and underselling cheap credit here. Cheap credit is really one of the biggest financial advantages of not being poor. There's almost literally no reason to buy anything in cash when you can get 0% or extremely low APR financing. "Living within your means" is very much advice that only applies to poors, because it's exceptionally easy for someone who's even moderately wealthy to live beyond their means pretty much indefinitely as long as nothing goes too wrong. The only reason you're seeing so much cash in housing right now is that investors are using cash purchases to muscle regular buyers out of the market.
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May 2, 2021 04:44
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BigPaddy posted:Take that example and apply it to consumer credit. Can’t buy X outright? Well we can loan you the money at a % rate per annum so you end up paying more for the same item that someone who has the money to buy it with cash and oh we have made certain items that are almost a requirement aka cars, smart phones so expensive that only a fraction of the population can buy cash and everyone else has to get it on credit. Oh and if the rich want credit well we give it to them at 0% interest anyway lol. even if the rich dont get 0%, just being rich makes credit so much easier; if I make six figures a year, I can buy a $30k car outright, or I can finance two, plus a boat, and a second home.
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May 2, 2021 04:52
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Paradoxish posted:You're really overselling cash and underselling cheap credit here. if the game plan is it squeeze regular buyers out of the market then who do investors expect to buy their purchases later on?
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May 2, 2021 05:10
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Radirot posted:if the game plan is it squeeze regular buyers out of the market then who do investors expect to buy their purchases later on? a bagholder, who will eventually offload their mortgage to the government, who then hands it to a bank for like 25% of its value
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May 2, 2021 05:18
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Radirot posted:if the game plan is it squeeze regular buyers out of the market then who do investors expect to buy their purchases later on? They're using cash to muscle regular buyers out of the specific properties that they're purchasing. It's not a grand conspiracy by investors to destroy all regular home purchases, it's just people with a lot of capital using that money to "win." It's self-destructive over the long run, but that's literally never stopped capital before.
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May 2, 2021 05:21
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do you expect a lot of bagholders? i just picture these houses sitting vacant forever.
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May 2, 2021 05:23
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You can basically look at every other country to see that housing prices that are largely unaffordable for the average person are no real obstacle to housing prices continuing to go up forever. People need to live somewhere and eventually you just rent your properties out or start doing predatory poo poo like "rent to own" leases.
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May 2, 2021 05:30
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yeah if you rent out then its not like you're losing anything by holding poo poo indefinitely, like a bank with better interest rates. and speculation just needs you to think youre smart enough to not be the last one in and people are stupid
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May 2, 2021 05:33
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the tradeoff is if you can’t rent then you are stuck with an asset that is literally worse than worthless to you, since you can’t live in two houses. my rent is $1890 a month. we are moving in June to a much nicer place for not much more money, and our landlords are trying to rent this place out. so far they’ve cancelled literally half of the showings they had scheduled and the most recent one that did happen, they quoted the prospective tenant $1750. the building is half empty. get owned, slumlord fucks.
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May 2, 2021 05:36
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and remember that it would actually take pretty extreme measures to rapidly bring home prices back down people think of the GFC as some kind of housing apocalypse, but it actually led to more homes being purchased with cash and housing prices skyrocketing way higher than they were before the crisis
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May 2, 2021 05:37
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Paradoxish posted:You can basically look at every other country to see that housing prices that are largely unaffordable for the average person are no real obstacle to housing prices continuing to go up forever. People need to live somewhere and eventually you just rent your properties out or start doing predatory poo poo like "rent to own" leases. https://www.rightmove.co.uk/properties/89220424#/media?id=media11&ref=photoCollage
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May 2, 2021 05:56
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Radirot posted:if the game plan is it squeeze regular buyers out of the market then who do investors expect to buy their purchases later on? The game plan is to sell at a higher price if the bubble keeps growing, or just never sell to gently caress the non-rich. Eventually the capitalist dies and whoever inherits the house sells it for a low price because they won't have their egos hurt by admitting that they "lost" to the dirty "poor" person they sold the house to for cheap.
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May 2, 2021 08:36
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Radirot posted:i cant think of anything else to say but why? this cant be just because of the explosion right? Globally rising food prices and then an explosion that decimated your entire food import structure. I think unless there's enough aid to stem the tide, we might Syria 2: The Lebanese Question
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May 2, 2021 08:43
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UnknownTarget posted:Globally rising food prices and then an explosion that decimated your entire food import structure. I think unless there's enough aid to stem the tide, we might Syria 2: The Lebanese Question the only reason Syria is still a mess and the central government can't reestablish control is because the west keeps arming rebels so they can build a pipeline through Syria. Lebanon is not strategically important to anyone
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May 2, 2021 12:24
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May 2, 2021 12:34
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Rutibex posted:the only reason Syria is still a mess and the central government can't reestablish control is because the west keeps arming rebels so they can build a pipeline through Syria. if there is one thing i could magically will into happening like thanos, it would be eradicating all oil from the planet, would solve an absolute ton of geopolitical problems
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May 2, 2021 13:46
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May 2, 2021 13:52
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what is wrong with these euros, don’t they know you can just give people money
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May 2, 2021 13:59
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Twerk from Home posted:this time it is different, because they have both motive and means to make the stock market go up forever. Wasnt this true last time though?
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May 2, 2021 14:29
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Why are we worried about beer running out. I need more information on this.
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May 2, 2021 15:36
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Thoguh posted:Why are we worried about beer running out. I need more information on this. you drank it all last night. dont you remember?
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May 2, 2021 15:42
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Twerk from Home posted:what is wrong with these euros, don’t they know you can just give people money Literally no, people must be punished for their wanton profligacy  
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May 2, 2021 16:05
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Imagine I also posted a German and Austrian flag there if they were emotes
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May 2, 2021 16:05
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Freedom isn’t free
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May 2, 2021 16:41
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Rutibex posted:you drank it all last night. dont you remember? no and that's the point
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May 2, 2021 17:26
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Paradoxish posted:The only reason you're seeing so much cash in housing right now is that investors are using cash purchases to muscle regular buyers out of the market. No, this is definitely not the only reason. Tons of regular people, whose stock portfolios exploded in 2020 thanks to the Fed, are also using cash now to buy houses where previously they would have taken out a mortgage. There are also those who have sold their more expensive homes in other states and have moved to cheaper states thanks to WFH policies. I have friends here in Austin who say they keep getting outbid by tech people moving here from California, for example. That's not a new thing but it certainly accelerated because of the pandemic.
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May 2, 2021 17:41
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Radirot posted:do you expect a lot of bagholders? i just picture these houses sitting vacant forever. there is no downside to being a bagholder as long as you're a large enough institution that the fed will buy your bag at full price and toss it onto the fourteen trillion dollar pile the current economic experiment is MMT for the plutarchy only
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May 2, 2021 18:00
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the marginal buyer sets the price. don’t need a lot of them to spike prices.
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May 2, 2021 18:02
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these days a realtor might as well just be an auctioneer because all the listings are out below value on Friday and bids are in by Monday and that’s it
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May 2, 2021 18:24
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Shipon posted:if there is one thing i could magically will into happening like thanos, it would be eradicating all oil from the planet, would solve an absolute ton of geopolitical problems https://foreignpolicy.com/2020/01/09/fracking-oceanic-methane-hydrates-global-energy-landscape-bonanza/
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May 2, 2021 18:35
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Shipon posted:if there is one thing i could magically will into happening like thanos, it would be eradicating all oil from the planet, would solve an absolute ton of geopolitical problems i feel like that would cause some rippling supply chain issues that might be more troublesome than you'd think. Americans use every part of the oil
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May 2, 2021 18:43
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Rutibex posted:
Israel I'm sure is interested in them, and sometimes I don't know if they're our client state or we're theirs
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May 2, 2021 18:48
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Cup Runneth Over posted:i feel like that would cause some rippling supply chain issues that might be more troublesome than you'd think. Americans use every part of the oil  in one hand there's complete widespread environmental and ecological destruction, in the other there's some supply chain issues
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May 2, 2021 19:13
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HAIL eSATA-n posted:
OP specified geopolitical problems. If you're doing it to solve environmental and ecological problems, lol, thanos snap yourself 20-30 years into the past first and maybe it would make a difference.
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May 2, 2021 19:25
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https://twitter.com/shawarmacommie/status/1388907563975122945?s=21
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May 2, 2021 19:32
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Radirot posted:do you expect a lot of bagholders? i just picture these houses sitting vacant forever. youre not thinking big enough. you let people stay in the houses, but own everything they produce for the next few decades. anyone makes noise you send in the thumbheads with batons.
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May 2, 2021 19:59
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