All Bets Are Off

[NKBJ]

Except essentials.

Desperate Money Printing Leads to Depression – Dr. Marc Faber | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com (Saturday Night Post) Legendary investor, economist and market forecaster Dr. Marc Faber thinks central banks (CB) are not going to cut back the money printing. Just the opposite. He predicts CBs are going to print even more money at a faster pace to hold the...

usawatchdog.com

 

[Magyars]

Inflation...too many dollars chasing too little product.

 

[jwamplerusa]

These idiots would be well served to read a little bit about the history of hyperinflation.

As I wrote to my Congress critters, hyperinflation almost always results in governmental collapse and regime change. I suggested they review the historical record of hyperinflation and stop making bad decisions. They were unlikely to be spared in any of the most likely scenarios.

Hyperinflation has been probably my most deeply held economic fear since the mid-eighties. Once hyperinflation event starts, hardly anyone that cannot escape with their cash before the value of that nation's Fiat currency implodes survives unscathed.

What's worse, is most governments trying to sustain themselves, begin demanding payment of property taxes at the inflated Fiat currency value resulting in massive numbers of tax foreclosures.

So in theory even if you own your own home, you still end up homeless.

The current " human infrastructure " BS is very likely to result in a high to hyperinflation event. I don't think any of us want to live it!

If you have even a vague memory of the Jimmy Carter years, this one could make that look like a very good economy.

 

[Tombs]

As I wrote to my Congress critters, hyperinflation almost always results in governmental collapse and regime change. I suggested they review the historical record of hyperinflation and stop making bad decisions. They were unlikely to be spared in any of the most likely scenarios.

Hah, they'll pass the buck down the chain to make the little people eat each other while they enjoy their lobbying billions on a private island far far away long before things get iffy.

They don't care, never have cared, and are in it to grow their wealth and make people they dislike suffer. That is their only lot in life.

 

[rooster]

Unpopular opinion:

Until the housing shortage is solved inflation doesn’t matter. Boomers bought houses cheap because of plentiful supply.

supply won’t go up until blue collar wages rise compared to white collar jobs.

tldr: money printer go brrr and it doesn’t matter

 

[Leo]

Inflation...too many dollars chasing too little product.

I would think it is too many dollars rewarded for too little productivity. Maybe both.

 

[KLB]

Unpopular opinion:

Until the housing shortage is solved inflation doesn’t matter. Boomers bought houses cheap because of plentiful supply.

supply won’t go up until blue collar wages rise compared to white collar jobs.

tldr: money printer go brrr and it doesn’t matter

Doesn't matter? History disagrees with you

 

[Leo]

Unpopular opinion:

Until the housing shortage is solved inflation doesn’t matter. Boomers bought houses cheap because of plentiful supply.

supply won’t go up until blue collar wages rise compared to white collar jobs.

tldr: money printer go brrr and it doesn’t matter

I fully believe we have PLENTY of housing, it just isn't usable. I used to use the term "many" but I have changed it to "every"

Every City in America has vast amounts of housing that was quality built, brick and stone that is completely useless because people in government have chosen to buy votes and subsidize crime. We always hear that the neighborhoods are in disrepair due to "white flight" which is implied as racism. That is a lie from the pit of hell. The productive people were DRIVEN out by criminals. I don't care what color you paint the faces. No one leaves behind properties that were a lifetime of hard work and businesses that are successful for poor opinions. They leave to preserve their lives.

I can take you through a dozen communities in a singe afternoon where multiple thousands of homes that were better built than you can buy today, that set empty. I can show you multistory apartment building that were at one time large, upscale apartments that are empty. These were all fruits of someones hard work brought to waste by the government. Neighborhoods that were once well kept and safe for any and all are vacant except for criminal activity. And the government keeps printing money.

We don't have a housing shortage, we have a shortage of morals in the government. The immoral government knowingly traps vast amounts of people into welfare slavery to buy votes to keep themselves in power.

People will work and live decently if that is that is required.

 

[Leo]

Unpopular opinion:

Until the housing shortage is solved inflation doesn’t matter. Boomers bought houses cheap because of plentiful supply.

supply won’t go up until blue collar wages rise compared to white collar jobs.

tldr: money printer go brrr and it doesn’t matter

I bought this house in 2012, and paid the same as any one else.

It has nothing to do with "boomer" Someone has sold age discrimination to use as an excuse. The fact is that there are more young, post boomer, millionaires right now than there were total millionaires in 1965. I have already posted, maybe a year or two ago, the average full time wage in the 60's, vs the price of a starter home. The average full time wage today vs the price of a starter home is really not out of line. I am sure the bubble of the last year is different but this bubble is already leaking. Yes a barista at starbucks cannot buy a new, upscale McMansion these days, but neither could a barista buy a home like that in the past.

My first home was a small pre fab slab job in a neighborhood of small pre fab slab homes. Almost all my friends started the same way, even the lucky ones that had parents put them through college.. We drove old cars to afford the mortgage. I'll bet almost every similar aged man on this site started that way. Some still live in their first homes. I don't know why later generations think we all started out in a big house with new cars like on the "Leave it to Beaver" or "Brady bunch" show.

I do note that the tax burden is higher on the working man than ever before, but that is across the board.

I am not trying to beat you up Rooster, if anything, I am trying to encourage you with some differing views. I know times are tough, and I am rooting for you to overcome the problems and succeed.

 

[phylodog]

I don't know why later generations think we all started out in a big house with new cars like on the "Leave it to Beaver" or "Brady bunch" show.

They’ve been educated/indoctrinated/trained to think that way. It’s just another socialist propaganda campaign to convince the younger generations that our capitalist ways are corrupt and they don’t stand a chance. The millennials have no idea what poverty actually is.

Not being able to buy the newest iPhone or latest model of your favorite car is not poverty.

Not being able to buy your forever home at 30 years old is not poverty.

Millenials were raised in a time of unprecedented ease of living and the “good times” are all they know. The fact that most are unaware of how things were 30 years ago is being used to convince them that the older generations (who played by the same rules) are keeping them down, preventing them from succeeding and hogging all of the wealth. Just another angle to create division.

I’m not blaming millennials. It isn’t their fault. While they were enjoying an easier upbringing than generations before them their parents (like myself) were too busy working and enjoying it to consider the possibility that it wouldn’t last forever and therefore prepare our kids for the possibility that things could change. We were asleep at the wheel while they were taught how unfair our current systems are.

Again, the vast majority of the blame lies with the Gen X parents (myself included) and it’s pretty much too late. How many 16 year old kids have purchased their own vehicles in the past 15 years compared to 30 years ago? How many parents spent every waking second of their free time making their world revolve around their kids (travel sports as one big example)? Life sure as hell wasn’t like that when I was a kid. We have raised a generation who does not understand that the world neither stops nor revolves around them and their needs/feelings. We allowed pro athletes, actors and entertainers to become the role models and convinced the kids that working a 9-5 is for chumps. We failed to teach them responsibility and accountability and now it is not only biting then in the ass but us as well.

 

[NKBJ]

Kids...
This reminds me of the balding barber that asked me three times if I really wanted him to cut all my hair off and my father pouring us each a whiskey when I walked into the house.