Conversation

Notices

1. Embed this notice
   Griffith (griffith@5dollah.click)'s status on Wednesday, 13-Nov-2024 09:34:29 JST Griffith
   What explains this
   • Chinese man ? #nobot repeated this.
   • Embed this notice
     Wrath (eiswald@poa.st)'s status on Wednesday, 13-Nov-2024 09:34:28 JST Wrath

     in reply to
     @Griffith Around the 70s and 80s boomers converted the real estate market from a depreciating commodities market to a financialized asset marker. This act caused the 2008 crash and it will cause another one that, like 08, no one will see coming until it's already happens.
     
     The financialization of ALL sectors have the market by the boomers and their kick handlers has empire destroying consequences. 50 years is a drop in the pot, we've lived this nightmare our whole lives but it wasn't always like this. This country is already dead, people just haven't realized it yet.
     
     Now we have catastrophically overvalued land and home prices stacked on top of the devaluation of the dollar and stagnant wages.
     Chinese man ? #nobot likes this.
     Chinese man ? #nobot repeated this.
   • Embed this notice
     Chinese man ? #nobot (iamal_pharius@poa.st)'s status on Wednesday, 13-Nov-2024 09:36:02 JST Chinese man ? #nobot

     in reply to

     • Wrath
     @Eiswald @Griffith Jeff bezos checking out billions in amazon shares to pay 20% capital gains tax. Bullish
   • Embed this notice
     :windmill_of_friendship: Moose :confederateflag: :sonnenrad: (anonmoose90@poa.st)'s status on Wednesday, 13-Nov-2024 09:42:03 JST :windmill_of_friendship: Moose :confederateflag: :sonnenrad:

     in reply to

     • Wrath
     @Eiswald @Griffith Yes and don't forget the addition of complex financial instruments like derivatives, when at the peak of the 08 crash there was a total derivitave notional dollar value(add up all the pieces of paper and puts and calls and options etc) of around $700 TRILLION, and obviously there isn't that much money in existence...
     Chinese man ? #nobot likes this.
   • Embed this notice
     Chinese man ? #nobot (iamal_pharius@poa.st)'s status on Wednesday, 13-Nov-2024 09:42:47 JST Chinese man ? #nobot

     in reply to

     • Wrath
     • :windmill_of_friendship: Moose :confederateflag: :sonnenrad:
     @anonmoose90 @Eiswald @Griffith Need my pres to start loan forgiveness
   • Embed this notice
     Bread up, Bro (sickburnbro@poa.st)'s status on Wednesday, 13-Nov-2024 09:51:42 JST Bread up, Bro

     in reply to

     • Wrath
     @Eiswald @Griffith well, first to begin with: inflation is not a singular thing. The classic example is gold/dollar. But more broadly shadowstats shows that what makes up the inflation basket and how it is calculated has changed.
     
     Regarding house ownership in the past: en.wikipedia.org/wiki/Penny_auction_(foreclosure)
     
     Penny auctions during the great depression come to mind.
     
     richmondfed.org/publications/research/econ_focus/2023/q1_economic_history
     
     But in the past you needed a much larger downpayment to get a loan, which helped keep a downward pressure on home prices.