Market Watch

[jyoutz]

Come on, man. By that definition, almost everyone would be illegal. The law didn't change until 1921 that would have any effect on immigration from Slovakia. Birthright citizenship applied because your ancestor was here legally. That is not the issue with anchor babies. Those are just a gross misinterpretation of the 14th Amendment. "And subject to the jurisdiction thereof" means that people who are still subjects of another nation (such as travelers, diplomats or illegal aliens) are excluded from birthright citizenship.

Seems like if people were sure of that interpretation, the SC would be the place to settle that. Yet no petitions have been requested.

 

[Torvy]

Regardless of the current rate, prices are at a new normal. This is the case in most of the first world countries. Covid and supply change disruptions and tariffs have changed prices everywhere. It’s not even valid to compare pre-pandemic prices to the changed world of today. Deflation isn’t going to occur for most things because current wage rates are baked into prices.

The pandemic was not the problem. The huge influx of M1 was the problem. Supply chain issue prices are very temporary. (Like what happens when a big storm disrupts shipping).

Deflation rarely happens because we left the gold standard. Only twice since then have we had a deflationary year. It has nothing to do with wages (other than in places with artificially high minimum wages, but even then, layoffs happen). Those two years had tiny drops in GDP. We will see another recession and potentially a small deflation again.

 

[Torvy]

Seems like if people were sure of that interpretation, the SC would be the place to settle that. Yet no petitions have been requested.

Soon

 

[jyoutz]

Soon

Then it will be settled

 

[jyoutz]

The pandemic was not the problem. The huge influx of M1 was the problem. Supply chain issue prices are very temporary. (Like what happens when a big storm disrupts shipping).

Deflation rarely happens because we left the gold standard. Only twice since then have we had a deflationary year. It has nothing to do with wages (other than in places with artificially high minimum wages, but even then, layoffs happen). Those two years had tiny drops in GDP. We will see another recession and potentially a small deflation again.

Of course we will see another recession. We have had them periodically since the inception of this country.

 

[CloverKnollFarms]

Only 60% of student loan borrowers made payments when bills restarted

Just 60% of student loan borrowers with bills due in October had made a payment by mid-November, new data by the U.S. Department of Education shows.

www.cnbc.com

 

[edgarrian]

From most everything I read about Indiana, its a fiscally responsible, well governed state thats generally attractive to industry and investment.

While at the state level that maybe true but at the local level it is not. The LEAP project has encountered a lot of push back. Basically the state acquired 5000 acres in order to have a shovel ready area to entice companies to come here. They won't need to acquire the land b/c the state already did. What's not to like about that. The fact is the state paid 72,000 per acre. YEs... thats a lot. Eli Lilly is currently the only company committed. They have started construction. Water is the big issue right now. The project is said to need 100 million gallons a day once completed. The water is suppose to come from lafayette but unsurprisingly there is a lot of people not wanting to do that who live in that area.

Indiana also has a lot of land being pursued by solar and wind companies. For the most part the people who live in the rural community do not want thousands of acres of solar nor wind. The state recently passed a bill that allows them to incentivize counties to pass less restrictive zoning laws for solar and wind projects. Basically a pay to play system. This was implemented after several counties pass restrictive ordinances b/c people dont want that **** in the backyard. Our county was set to get wind turbines until it awoken a beast within. Citizens were not happy. I did an FOIA on the commissioners and nothing is as it was being told. However they did pass zoning that was able to keep them out. Funny when we asked the state representatives if there was anything they could do help us b/c at the time it was not looking good. They said "oh thats a local matter, we dont get involved in local matters". That is until it goes the wrong way and they pass a bill to incentivize counties.

for the most part its well governed but could be better. I dont think 73k an acre is a wise move financially. I feel like the LEAP project is a good idea however the land should have been acquired for less as in market pricing

 

[edgarrian]

Rates were the highest in 80-82 because of your buddy Jimmy C‘s fiscal policies.
Same as ’22-‘24 because of the “Big Guy’s” fiscal policies in ‘21-‘22.

I think you can understand that interest rates are a lagging indicator or high inflation from a few years previous, right?

High inflation ‘78-’80 = high interest in ‘80-‘82?
High inflation ‘21-‘22 = high interest in ‘22-‘24?

See the pattern?

Unfortunately trump was president in 2020. The country was shut down and handouts were given. This helped set the stage for inflation

 

[Hay Dude]

Unfortunately ***** was president in 2020. The country was shut down and handouts were given. This helped set the stage for inflation

Pandemics are not super common-I think we give that a pass.

 

[edgarrian]

Pandemics are not super common-I think we give that a pass.

well i did not support the shutting down nor did i support the hand outs. I knew it would lead to inflation and it did. I dont give B!D3N a pass on that and I dont give Tru^^p a pass.

 

[Hay Dude]

IMO, in the beginning we were in uncharted waters and a lot was wasted on research, vaccines, ventilators, etc.
That racked up a lot of debt with lots of gov’t waste. I cut the waste in the ‘19-‘20 years a little slack.
By the time the next administration took office and threatened us with the “winter of death” (which never happened) they had a lot more knowledge.

 

[edgarrian]

IMO, in the beginning we were in uncharted waters and a lot was wasted on research, vaccines, ventilators, etc.
That racked up a lot of debt with lots of gov’t waste. I cut the waste in the ‘19-‘20 years a little slack.
By the time the next administration took office and threatened us with the “winter of death” (which never happened) they had a lot more knowledge.

A little common sense goes along way. Proper reporting and truthful facts help aid in awareness. None of that happened in 2020 or the following years. A virus is a virus. You can't stop it. IN 2020 we allowed big pharma to create a vaccine in what 8 months. In exchange they were basically promised all the profits in the world without any worry of blow back. Frankly we couldn't have screwed up any worst in 2020 than what we did. The following years were just the icing on the cake.

 

[ultrarunner]

Go west young man…

It does seem everyday a Bay Area SF company is announcing layoffs and vacating space…

Also we are getting vastly more resumes than we have in years for medical openings.

My first mortgage arrived 13.5 turned out to be a blessing as I got a free ride as rates dropped and property value increased.

One thing I never fully understood during the foreclosure crisis 2009-12 is I realize anyone breathing was able to get a loan and many with no down payment but these loans all had PMI tacked on so in the event of default the lenders are protected… so what happened?

Two things Im seeing now are higher rate if auto and credit cards in arrears and government is again offering down payment and first time homebuyer assistance… I thought that was to be no more?

 

[ultrarunner]

Are you suggesting that Reagan/Bush in the 1980s caused high rates? My son and his wife closed on a house last week in Baton Rouge. 4.5% fixed rate mortgage, 30 years.

What was the buy down… the very best traditional mortgages last week were in the high 6 percent without a buy down or seller assistance .

 

[jyoutz]

What was the buy down… the very best traditional mortgages last week were in the high 6 percent without a buy down or seller assistance .

IDK, I just heard the rate. Probably a point. But it was locked over a month ago.

 

[jyoutz]

It does seem everyday a Bay Area SF company is announcing layoffs and vacating space…

Also we are getting vastly more resumes than we have in years for medical openings.

My first mortgage arrived 13.5 turned out to be a blessing as I got a free ride as rates dropped and property value increased.

One thing I never fully understood during the foreclosure crisis 2009-12 is I realize anyone breathing was able to get a loan and many with no down payment but these loans all had PMI tacked on so in the event of default the lenders are protected… so what happened?

Two things Im seeing now are higher rate if auto and credit cards in arrears and government is again offering down payment and first time homebuyer assistance… I thought that was to be no more?

I think a lot of SF Bay Area people are leaving. We have friends who moved near us last summer from the Bay Area and they are still working for Bay Area companies teleworking. For $350K they bought a decent newer house; something they could never do in the Bay Area.

 

[ultrarunner]

I think a lot of SF Bay Area people are leaving. We have friends who moved near us last summer from the Bay Area and they are still working for Bay Area companies teleworking. For $350K they bought a decent newer house; something they could never do in the Bay Area.

There are entire websites dedicated to Leaving the Bay Area.

It use to be retirees would leave for the foothills but just about all of my retired friends either relocated or have been looking outside California...

 

[Hay Dude]

Maybe they are tired of the homeless people attacking them, the poop on the sidewalks, or the retail stores closing?

 

[jyoutz]

There are entire websites dedicated to Leaving the Bay Area.

It use to be retirees would leave for the foothills but just about all of my retired friends either relocated or have been looking outside California...

I imagine that it’s awful tempting to leave if you can sell your home for $1.5M, then go elsewhere and buy a nice place for $300-400K, and bank the remainder.

 

[ultrarunner]

Heard today that half of the US homeless population reside in California... maybe it's the weather?

Maybe they are tired of the homeless people attacking them, the poop on the sidewalks, or the retail stores closing?