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Proud Christian Mom posted:Hey in case you're wondering why Democrats are about to get obliterated the Fed did another giant rate hike with the sole purpose of making sure people don't have savings No, they're raising rates because the democrats are too chicken poo poo to raise taxes on corporations and the wealthy. Bleeding people dry is just a bonus.
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Nov 2, 2022 20:44
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Raising rates should only help the low and middle classes. Cheap money can really only be taken advantage of by the rich and inflation is extremely corrosive to the spending power of those at the bottom. With a low rate its extremely difficult to get a safe return as well so it should help savers. Employment remains high as well.
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Nov 2, 2022 20:50
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AreWeDrunkYet posted:So they're saying it would be safer for US troops to withdraw from Saudi Arabia? Sure would be a shame, that might disappoint a broad group of people like *checks notes* energy company shareholders and the house of saud. Nothing to be done! Proud Christian Mom posted:Hey in case you're wondering why Democrats are about to get obliterated the Fed did another giant rate hike with the sole purpose of making sure people don't have savings Tell me what other fox news talking points you still internalize
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Nov 2, 2022 21:01
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Raising rates should be tied to raising taxes though, to actually be effective. So many of the people and corps sitting on excess cash can do so because their tax rates are so low, and all the money they own (most of it) has nowhere to go, so it's sloshing around the system looking for investments that aren't coming anymore, so they're dumping money into stock buybacks.
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Nov 2, 2022 21:04
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The financial loaning system is definitely going nuts with all these fed rate increases. About seven years ago, my 30-year mortgage was at 4.125% with my credit union. I refinanced to a 15-year in December at a 2.875% rate. 30-year mortgages are now 6.75% and 15-years are 6.375%. That's likely why we're seeing a whole low fewer vocal tech bros (blew all their VC on crypto, can't get more VC at these rates) and the housing market is hosed up (nobody can buy without cash and corporations have a lot of said cash). But yeah, the Kansas City Fed is like SAVINGS BAD FUN BAD MUST HURT REGULAR HUMANS and it ain't great https://twitter.com/schwarz/status/1587873284997218304?t=VawK4QrF_ZfY6zAyPkOrOw&s=19
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Nov 2, 2022 21:07
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Yes the paid spox going to Palm Beach is definitely saying "how it works" and not astroturfing the poo poo out of the "evil fed" narrative the handful of actual billionaires living in palm beach have been pushing for more than a few years.
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Nov 2, 2022 21:15
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Proud Christian Mom posted:Hey in case you're wondering why Democrats are about to get obliterated the Fed did another giant rate hike with the sole purpose of making sure people don't have savings lightpole posted:Is this sarcasm, economics doesn't work like this the phrasing of the post was bad but powell did explicitly talk about people's excess savings being a continuing cause to high inflation at the presser today (I watched the whole thing). his solution is to raise raise to lower economic growth and (EDIT) loosen the labor market (read: reduce job openings, increase unemployment claims, reduce wage growth) in order to combat inflation. that will have an adverse effect on people's excess savings. he will continue to hold rates high until, quite possibly, we go into a recession: also bad for savings. he will do all this to fight inflation, which again, he thinks is happening in part because people have money to spend. pmchem fucked around with this message at 21:22 on Nov 2, 2022 |
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Nov 2, 2022 21:16
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CRUSTY MINGE posted:Raising rates should be tied to raising taxes though, to actually be effective. So many of the people and corps sitting on excess cash can do so because their tax rates are so low, and all the money they own (most of it) has nowhere to go, so it's sloshing around the system looking for investments that aren't coming anymore, so they're dumping money into stock buybacks. The legislature is stuck on this, particularly after decades of Grover Norquist. Dems would need to actually come up with effective messaging so they can sell it in the face of relentless pounding from Fox News et al. Trying to inflate it away would only crush the bottom, the top has alternative assets (land, art, cars, businesses) that will help mitigate their pain. Dems are going to get hosed with the economic cycle, the results of Trumps tax cuts and low interest rates, as well as historical precedence.
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Nov 2, 2022 21:18
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pmchem posted:the phrasing of the post was bad but powell did explicitly talk about people's excess savings being a continuing cause to high inflation at the presser today (I watched the whole thing). his solution is to raise raise to lower economic growth and tighten the labor market (read: reduce job openings, increase unemployment claims, reduce wage growth) in order to combat inflation. that will have an adverse effect on people's excess savings. he will continue to hold rates high until, quite possibly, we go into a recession: also bad for savings. he will do all this to fight inflation, which again, he thinks is happening in part because people have money to spend. Yes, this is doctrine from a macro perspective and a good thing. A moderate drop in employment is much better than high levels of inflation. Its not "bleed the poor dry".
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Nov 2, 2022 21:22
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I'm just glad they waited so long to raise rates, nobody could have seen this coming
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Nov 2, 2022 21:23
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pmchem posted:the phrasing of the post was bad but powell did explicitly talk about people's excess savings being a continuing cause to high inflation at the presser today (I watched the whole thing). his solution is to raise raise to lower economic growth and (EDIT) loosen the labor market (read: reduce job openings, increase unemployment claims, reduce wage growth) in order to combat inflation. that will have an adverse effect on people's excess savings. he will continue to hold rates high until, quite possibly, we go into a recession: also bad for savings. he will do all this to fight inflation, which again, he thinks is happening in part because people have money to spend. I'm not trying to be mean or condescending, but what you've just described is like the exact reason why central banks raise interest rates to combat inflation. It's a doctrine that's as old as the concept of central banks and is taught to any student taking introductory macroeconomics. So it's not something new that Powell is experimenting with.
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Nov 2, 2022 21:51
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lightpole posted:Raising rates should only help the low and middle classes. Cheap money can really only be taken advantage of by the rich and inflation is extremely corrosive to the spending power of those at the bottom. With a low rate its extremely difficult to get a safe return as well so it should help savers. Employment remains high as well. The low and middle class's number one source of debt is mortgage and credit, both of which are substantially effected by low rates. lmao if you think averaging $600k houses at 15% is good for the low and middle classes.
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Nov 2, 2022 21:58
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ASAPI posted:Last night Best Korea was rotating missile stocks or something. 23 launches. https://twitter.com/MariahCarey/status/1587293603629617153
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Nov 2, 2022 21:58
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M_Gargantua posted:The low and middle class's number one source of debt is mortgage and credit, both of which are substantially effected by low rates. The overwhelming majority of American mortgage debt is fixed-rate, which isn't affected by rising interest rates. It affects the issuance of new mortgages, which naturally depresses the value of housing.
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Nov 2, 2022 22:00
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psydude posted:The overwhelming majority of American mortgage debt is fixed-rate, which isn't affected by rising interest rates. It affects the issuance of new mortgages, which naturally depresses the value of housing. I don't think housing prices are going to come down, but the economists who get to make all these decisions disagree with me. I have yet to see those economist be right about this but only time will tell.
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Nov 2, 2022 22:03
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Or maybe all the worlds best economists have been right but ignored by the politicians who make the decisions, either way same effect from my point of view.
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Nov 2, 2022 22:04
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M_Gargantua posted:I don't think housing prices are going to come down, but the economists who get to make all these decisions disagree with me. I have yet to see those economist be right about this but only time will tell. https://edition.cnn.com/2022/10/22/homes/us-home-prices-falling/index.html Home price growth has stopped nationally and, in some markets, prices are already declining. So like, I don't know what else to tell you.
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Nov 2, 2022 22:06
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M_Gargantua posted:The low and middle class's number one source of debt is mortgage and credit, both of which are substantially effected by low rates. What psydude said. The low can't afford a house anyways. Higher rates should push down the value of housing in proportion to the increase in rates (theoretically) which should move the money around but keep the overall spend the same. Again, the damage inflation will cause to these groups is much worse than the damage job losses or increased rates on loans. If you want to pretend standard economic doctrine doesn't apply, Venezuela and Turkey are your current examples, have fun.
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Nov 2, 2022 22:08
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psydude posted:I'm not trying to be mean or condescending, but what you've just described is like the exact reason why central banks raise interest rates to combat inflation. It's a doctrine that's as old as the concept of central banks and is taught to any student taking introductory macroeconomics. So it's not something new that Powell is experimenting with. I'm not trying to be mean or condescending, but my post was demonstrating understanding of that (and explaining it to others), not trying to make some grand political point or GOTCHA! post
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Nov 2, 2022 22:08
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I love her witch costume tho she should do a halloween song
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Nov 2, 2022 22:11
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pmchem posted:I'm not trying to be mean or condescending, but my post was demonstrating understanding of that (and explaining it to others), not trying to make some grand political point or GOTCHA! post OK, my bad. You typed it all in lower case so I was unsure about your intonation.
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Nov 2, 2022 22:11
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psydude posted:OK, my bad. You typed it all in lower case so I was unsure about your intonation. I'm a rebel that way sometimes against the SA capitalization mafia
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Nov 2, 2022 22:12
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lower case with poor to no punctuation is how this forum was intended to be posted on
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Nov 2, 2022 22:13
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The only acceptable punctuation are ????????s
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Nov 2, 2022 22:19
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https://www.youtube.com/watch?v=P6UhRO_tc9A
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Nov 2, 2022 22:43
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Milo and POTUS posted:I love her witch costume tho she should do a halloween song I agree. Soon Mariah's voice will spread over every holiday.
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Nov 2, 2022 22:59
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Soul Dentist posted:https://twitter.com/MailOnline/status/1587379371135979521?s=20&t=Qb404-Rez2rjvYfkmhScrw Last page but I have literally seen better suits of leather for sale at renaissance faires for a tenth of that sale price.
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Nov 2, 2022 23:00
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Wasabi the J posted:Yes the paid spox going to Palm Beach is definitely saying "how it works" and not astroturfing the poo poo out of the "evil fed" narrative the handful of actual billionaires living in palm beach have been pushing for more than a few years. Whats the upside of these rate hikes? psydude posted:https://edition.cnn.com/2022/10/22/homes/us-home-prices-falling/index.html While this is true we have also seen a major foray into the housing market by commercial interests who have the financial capital to refuse to sell homes until the market turns around. As such we may continue to see low inventory for sales with the added benefit of high interest rates on loans. The problem with the housing market are begging for a legislative solution - instead we have the central bank trying to fix a problem caused by malicious legislative policy. The path to where the fed wants to be cuts directly through Biden's reelection efforts and the financial security of the American middle class Grip it and rip it fucked around with this message at 23:06 on Nov 2, 2022 |
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Nov 2, 2022 23:01
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Blame Biden Jesus loving Christmas do you sleep every 3 years? The NY post and fox are all spinning up the outrage machine over a tweet giving Biden credit for loving with social security. That moves a consistent red base of old fucks to the polls and phones and retweets that are happening within the thread. This announcement from the KC Fed shooting it straight being someone who's literally taking checks from Palm Beach, right before election season. That palm beach crew, rip in piss Epstein, have packed the courts to try and control any blatant crimes the fed may be able to prosecute. They astroturf "police approved" candidates in small and mid level elections that just happen to be associated with white supremacy whoopsie. They then astroturf the complaints against said pariah. They bought all the small papers reporting on police corruption. they want to control more of the government to defund and destroy it because they are already rich and don't need the government stopping them from creating their own fiefdoms. Wasabi the J fucked around with this message at 23:17 on Nov 2, 2022 |
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Nov 2, 2022 23:08
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Soul Dentist posted:https://twitter.com/MailOnline/status/1587379371135979521?s=20&t=Qb404-Rez2rjvYfkmhScrw Why is disgraced Goonswarm CEO The Mittani at this party
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Nov 2, 2022 23:16
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Soul Dentist posted:https://twitter.com/MailOnline/status/1587379371135979521?s=20&t=Qb404-Rez2rjvYfkmhScrw Would Volunteer to help him figure out what those plates are rated to while he’s wearing them
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Nov 2, 2022 23:17
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capitalization is sincere and sincere is cringe
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Nov 2, 2022 23:17
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In case you think I'm making up the manufactured outrage angle just watch like the first 5 minutes of this to see how this adds up with robber baron billionaires and lovely outrage news proliferation. https://www.youtube.com/watch?v=4WfHXt1ZQhg
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Nov 2, 2022 23:23
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I'm truly flabbergasted at how long that video is E: Like you didn't even have time to watch it from the last time you posted a long rear end video Soul Dentist fucked around with this message at 23:43 on Nov 2, 2022 |
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Nov 2, 2022 23:39
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Soul Dentist posted:I'm truly flabbergasted at how long that video is
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Nov 2, 2022 23:40
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Soul Dentist posted:I'm truly flabbergasted at how long that video is You have never seen a full 1h episode of cody's showdy, aka the good Daily Show without Jon Stewart? You've been missing ou, all the kids like it
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Nov 2, 2022 23:47
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Our buddy Ka$h Patel, who 5thed to the Classified Documents Grand Jury, has a fun decision to make. He's got immunity now - so is it time to officially jettison the grift, or try to get cutesy and play grand jury games? https://twitter.com/WSJPolitics/status/1587942818370273284?t=OCwSzGC6zp9wvSgd95UKjQ&s=19 It's amazing he took the smart legal advice, because it's this guy we're talking about : https://twitter.com/PutainMenteuse/status/1587927367254937601?t=hKe3CpcpdDC-9RE3TCJ2OA&s=19
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Nov 3, 2022 00:06
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Soul Dentist posted:I'm truly flabbergasted at how long that video is Politics commentary YouTube is a really hosed up world where all the videos are three hours long
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Nov 3, 2022 00:09
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Soul Dentist posted:I'm truly flabbergasted at how long that video is I have notifications on for both creators, usually watch videos longer than 20 min after screening the transcript while watching on 1.5x, and for content like this, I do while cleaning or something, and I'm quarantined.
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Nov 3, 2022 00:11
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so NK is still launching missiles at JPN still.. gently caress goin on with that https://twitter.com/BNONews/status/1587943029599571968
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Nov 3, 2022 00:28
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