Posts: 903
Threads: 269
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I never thought I would say this, but I support bernie.... on this at least.
Bezos space company is an utter failure but yet there is legislation making its way through the senate to give him $10 billion to help cover his losses and get him back in the space race with Musk, even though Bezos has yet to even put a rocket into orbit.
bi-partisanship I can get behind. Urge your senator to support Bernies bill to block billionaire bezos bilking.
https://www.foxbusiness.com/politics/haw...over-china
Why isn't Chuck Foreman in the Hall of Fame?
i forgot to include... bezos net worth since covid... up $86 billion, I think he already got his covid relief....
He's got to make up for the $8.5B he spent to buy MGM in the SAME WEEK.
Jimmy you must be one of those Rich-ists. All you can see is the color of their money.
Quote: @StickyBun said:
Pffft, you call that a bailout?
https://www.forbes.com/sites/mikecollins...fa7bd32d83
I said back in 07 that bailing out wall street and the banks was a disastrous approach to fixing the financial woes.. we should have let them crumble, we all would have taken the hits on our investments, but the system would have recovered and the black magic financial practitioners that created the collapse would be out on their asses. all that bail out did was kick that proverbial can down the road and will make the next collapse even more catastrophic.
We are set up now for one of the worst collapses on record IMO... and this time we wont even have paper to print more funny money on to try and buy wall street out of it. fucking crooks.
Quote: @JimmyinSD said:
@ StickyBun said:
Pffft, you call that a bailout?
https://www.forbes.com/sites/mikecollins...fa7bd32d83
I said back in 07 that bailing out wall street and the banks was a disastrous approach to fixing the financial woes.. we should have let them crumble, we all would have taken the hits on our investments, but the system would have recovered and the black magic financial practitioners that created the collapse would be out on their asses. all that bail out did was kick that proverbial can down the road and will make the next collapse even more catastrophic.
We are set up now for one of the worst collapses on record IMO... and this time we wont even have paper to print more funny money on to try and buy wall street out of it. fucking crooks.
What makes you think we wont have enough paper to print our way out of anything? Trump and pals and now Biden and friends printed the ever loving shit out of currency to pad the pockets of the bankers during the pandemic.
I mean really, whats a few trillion between friends?
When is the collapse coming and why?
Quote: @AGRforever said:
@ JimmyinSD said:
@ StickyBun said:
Pffft, you call that a bailout?
https://www.forbes.com/sites/mikecollins...fa7bd32d83
I said back in 07 that bailing out wall street and the banks was a disastrous approach to fixing the financial woes.. we should have let them crumble, we all would have taken the hits on our investments, but the system would have recovered and the black magic financial practitioners that created the collapse would be out on their asses. all that bail out did was kick that proverbial can down the road and will make the next collapse even more catastrophic.
We are set up now for one of the worst collapses on record IMO... and this time we wont even have paper to print more funny money on to try and buy wall street out of it. fucking crooks.
What makes you think we wont have enough paper to print our way out of anything? Trump and pals and now Biden and friends printed the ever loving shit out of currency to pad the pockets of the bankers during the pandemic.
I mean really, whats a few trillion between friends?
paper is going to be worth more than the money they want to print.
Not sure why the whataboutism. Seems not bailing out Bezos should be universally acceptable.
Quote: @Skodin said:
When is the collapse coming and why?
I dont have a crystal ball, but it doesnt take an advanced degree in finance to see that there is going to have to be a large correction coming, inflation is taking off, the govt is printing money like it doesnt have consequences, and lending institutions are handing it out unchecked to finance land/homes and other goods at values significantly higher than the market should/would bear in a normal economic climate. I dont know when but I think the next one will make 07 feel like a punch in the arm from your little sister, and I dont think its going to be very far off, the timing I suppose will really depend on when something changes to trigger the collapse.
What happens when somebody realizes all these homes getting built right now with materials that are 200-300% higher than they should be, couple that with the inflation hitting other essentials and people building and buying these over priced homes wont be able to make the payments, and we have a shit ton of homes on the market because banks are suddenly forced to start foreclosing again, those over priced homes will crash in value and people wont be able to sell them. I dont see a real rosy outlook for the next 10 years.
Quote: @JimmyinSD said:
@ Skodin said:
When is the collapse coming and why?
I dont have a crystal ball, but it doesnt take an advanced degree in finance to see that there is going to have to be a large correction coming, inflation is taking off, the govt is printing money like it doesnt have consequences, and lending institutions are handing it out unchecked to finance land/homes and other goods at values significantly higher than the market should/would bear in a normal economic climate. I dont know when but I think the next one will make 07 feel like a punch in the arm from your little sister, and I dont think its going to be very far off, the timing I suppose will really depend on when something changes to trigger the collapse.
What happens when somebody realizes all these homes getting built right now with materials that are 200-300% higher than they should be, couple that with the inflation hitting other essentials and people building and buying these over priced homes wont be able to make the payments, and we have a shit ton of homes on the market because banks are suddenly forced to start foreclosing again, those over priced homes will crash in value and people wont be able to sell them. I dont see a real rosy outlook for the next 10 years.
I don't see a lot of what you are saying happening....at all. They've been forecasting for the last 15 years for inflation to go up. It will, it has too....but they'll keep it a low raise. And we are not in a housing bubble: inventory has never been lower in the real estate market. And people are paying cash for a lot of homes that appraise at higher values, this is how its happening. And people are sitting on cash and when inflations starts to go up, that cash will be worth less so the investing will start, which will include the real estate markets. Banks still have the same rigid restrictions for home loans they've had the last 10+ years. As we pull out of COVID, I expect the economy to get VERY rosy.
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