Inflation

jamiche

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I like that you abandoned your first terrible point.

the USSR doesn’t exist. So that supports my point that they disintegrated. How is that moving the goalposts?

prevent what? The USSR could just eliminate their debt. We are going to war with a nuclear superpower? No. There is a cost to just writing off your debt. Nobody is trading with you or lending you money or credit. That’s what happened to the soviets. And also Because communism does not work. It violates the laws of economics. It will always fail. You can google the calculation problem if you don’t understand why.

I didn’t require anything. The collapse of the $ and US debt will bankrupt the entire US financial system, Japan, Europe, it will precipitate a global financial collapse. The ruble is not as important globally as the dollar. The point is that military power doesn’t mean we can do what we want without consequences. As USSR proves.
You predicted the imminent collapse of our economy and economic system due to inflation and debt in 2009. I think we need a new Board Economist. You continue to be the Board Moron.
 
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Section2

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You predicted the imminent collapse of our economy and economic system due to inflation and debt in 2009. I think we need a new Board Economist. You continue to be the Board Moron.
The really fun thing is that when it happens, you’ll all pretend like you saw it coming, and you’ll blame the right. 100% lock solid guaranteed prediction.
 

balds

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Aside from trying to score political points, I can't fathom how anyone doesn't smell that things are amiss.

The Mortgage load has simply shifted to consumer load. Personal debt is insane. Add dead student debt, rent and mortgage bans coming off, Joe stopping the $300/mo. payments.

And then you get to the stock market, when the fed is forced to stop pumping, as they alluded to the other day.....

Add a President intent on pouring gasoline on this fire.

I hope I'm proven wrong.
 

Wally

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The really fun thing is that when it happens, you’ll all pretend like you saw it coming, and you’ll blame the right. 100% lock solid guaranteed prediction.
The housing crash was because the market didn't have guardrails. The result is boom and bust which we have been seeing and I expect to continue.
 

Section2

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The housing crash was because the market didn't have guardrails. The result is boom and bust which we have been seeing and I expect to continue.
No guardrails!!! Just a few of the most regulated industries.
wallys answer is always more government. But those guardrails are controlled by the rich!
 


Wally

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The Mortgage load has simply shifted to consumer load. Personal debt is insane.

Its the American dream sold to everyone by a bunch of vultures. You have to appear rich and successful and outdo your friends/neighbors.

We drive 6-7 year old cars, have a crusty house but everything is paid off, zero debt.
 

Wally

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No guardrails!!! Just a few of the most regulated industries.
wallys answer is always more government. But those guardrails are controlled by the rich!
So the mortgage crisis wasn't caused by bad actors doing things they shouldn't?

Yea let's make sure stealing is legal. Deuces way...
 

Spoofin

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Its the American dream sold to everyone by a bunch of vultures. You have to appear rich and successful and outdo your friends/neighbors.

We drive 6-7 year old cars, have a crusty house but everything is paid off, zero debt.
People striving for more will produce better outcomes than teaching everyone they are victims that deserve handouts.
 





jamiche

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The really fun thing is that when it happens, you’ll all pretend like you saw it coming, and you’ll blame the right. 100% lock solid guaranteed prediction.
The really fun thing is that you predicted runaway inflation and the demise of our economy and economic system in 2009.
 

Wally

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People striving for more will produce better outcomes than teaching everyone they are victims that deserve handouts.
Lol, yea that's what caused the the 2008 crash...
 

Section2

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The really fun thing is that you predicted runaway inflation and the demise of our economy and economic system in 2009.
It’s like predicting a heroin addict is going to die unless they get sober. What month!!? Haven’t died yet! Good luck with that.
 



Section2

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So the mortgage crisis wasn't caused by bad actors doing things they shouldn't?

Yea let's make sure stealing is legal. Deuces way...
It was 100% caused by bad government. One of the most highly regulated sectors of the economy. But muh guardrails!
 

Angry

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It was 100% caused by bad government. One of the most highly regulated sectors of the economy. But muh guardrails!
Government forcing lenders to give loans to people who couldn’t possibly afford them. Many Dems don’t care about the ramifications of their policies as long as it seems good to voters who don’t read the fine print.
 

Wally

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It was 100% caused by bad government. One of the most highly regulated sectors of the economy. But muh guardrails!
Oh yea I see the right wing nutjobs want to blame the government. They just want to be able to predatory lend.

Show me where the government pushed interest only and variable rate loans?
 

jamiche

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It’s like predicting a heroin addict is going to die unless they get sober. What month!!? Haven’t died yet! Good luck with that.
The better analogy is predicting that sometime in the next trillion years or so the sun will burn itself out, melvin. What year exactly!!? Good luck with that.
 


TRF Guy

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Random Gopher Fan

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The really fun thing is that when it happens, you’ll all pretend like you saw it coming, and you’ll blame the right. 100% lock solid guaranteed prediction.
Lmao. You’re just like the guy at work that warned everyone of hyperinflation in 2009. No one listens to that guy anymore.
 

Section2

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Oh yea I see the right wing nutjobs want to blame the government. They just want to be able to predatory lend.

Show me where the government pushed interest only and variable rate loans?
There’s no such thing as “predatory” lending.
 

Section2

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The Federal Reserve insists that the current price inflation is "transitory." Every sign points in the opposite direction, however, and we need to understand the economic and political implications of what is about to begin - an era of high inflation.
The federal reserve, like all government institutions today, tells us what they think we need to hear in order to behave a certain way. That’s what Fauci and the CDC do, that’s what the president does, and that’s what the Fed does. If you don’t implicitly understand that, your name is probably Wally.
 


Section2

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Oh yea I see the right wing nutjobs want to blame the government. They just want to be able to predatory lend.

Show me where the government pushed interest only and variable rate loans?
I’d like to lend you money to buy a house. I’ll put up all the money for the purchase of the home. You can pay me a very low variable rate so you can afford the home. If the price of the home goes up, you keep all the equity appreciation.
“predatory”
 

Wally

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The federal reserve, like all government institutions today, tells us what they think we need to hear in order to behave a certain way. That’s what Fauci and the CDC do, that’s what the president does, and that’s what the Fed does. If you don’t implicitly understand that, your name is probably Wally.
No shit Sherlock...
🤷🏼‍♂️🤷🏼‍♂️🤷🏼‍♂️🤣🤣🤣
 

Wally

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I’d like to lend you money to buy a house. I’ll put up all the money for the purchase of the home. You can pay me a very low variable rate so you can afford the home. If the price of the home goes up, you keep all the equity appreciation.
“predatory”
I wouldn't borrow to you at less than 30% interest...🤪🤪🤪
 

Bob_Loblaw

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Its the American dream sold to everyone by a bunch of vultures. You have to appear rich and successful and outdo your friends/neighbors.

We drive 6-7 year old cars, have a crusty house but everything is paid off, zero debt.
Ask yourself how those people were able to get the loans that they could never pay back? The answer is - - - the same "guardrails" which you speak of.
 

Bob_Loblaw

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Just like its not murder if you deserve it....
Well, I mean, it's not murder if someone is defending themselves or for a variety of other reasons. So yeah, that's true.
 

FormerFatOL

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There’s no such thing as “predatory” lending.

I'll quibble with you on that. Before the 2007 housing crash, there was no short supply of incestuous relationships between mortgage lenders, real estate agents and real estate appraisers. The agent and lender would find people with marginal credit and limited options and inflate a house's price, then they'd have a real estate appraiser in their pocket to inflate an appraisal. Then boom. Overpriced house, underwater mortgage, and massive credit risk. The mortgage gets sold off to some CDO. When the market goes bust, the homeowner is on the street, the CDO explodes, then the the U.S. government backstops it, paid for by you and me.

The mortgage lender, agent and appraiser got their money with no downside. True, no-one forced the homebuyer to do the deal, but that's still predatory lending in my mind.
 

Wally

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Ask yourself how those people were able to get the loans that they could never pay back? The answer is - - - the same "guardrails" which you speak of.
Its because the banks didn't give a shit because they packaged and resold the loans.

I am by no means saying the government isn't partially at fault. In this country the government and industry are like a hand and glove, you can't really seperate the two because industry has its hands all over government and there is a revolving door between industry and the parts of the government that regulates said industry.

That doesn't mean there is no place for regulation. I want accountability.


Lots of people took out loans and rented the houses out while not paying the loans, is that governments fault?
 




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