Comments by "Jeffrey Marshall" (@jeffreymarshall4572) on "CNBC Television" channel.

  1. No way home prices hold up. Rate hikes and QT will bring them down hard.
    51
  2. You can’t shut down production of goods and services and replace it with money printing without creating massive inflation.
    36
  3. Munger is a genius and truly gets it. His uncensored un-woke brilliant mind will sorely be missed someday.
    34
  4. “I don’t even want the house I can’t afford” Let’s go Brandon!
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  5. What would home prices be if the free market determined interest rates? The Fed has completely distorted the market with their recent $3 trillion in mortgage purchases and artificially low interest rates. The trillions in stimulus even made it worse. Prices are going to crash soon.
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  6. Home prices are mainly determined by three factors: 1) interest rates 2) people’s savings 3) job/income stability These were all made very favorable during Covid. If one of these factors turns ugly, we’ll have a correction. If two or more go badly we’re gonna have a collapse. The Fed is determined to raise rates and there are no more stimmy checks coming.
    27
  7. This guy is spot on. Peter Schiff has been saying the same thing. Without Fed meddling, interest rates wouldn’t be negative in real terms.
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  8. Home prices are inversely proportional to mortgage rates, all other things being equal. But all other things AREN’T equal. They are WAY worse. Home prices gonna crater big time.
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  9. I would much rather have a $200k mortgage at 7% then a $500k mortgage at 3% for the same home. Let the crash begin!
    23
  10. Well of course Brandon ignores Musk and Tesla. You don’t get any more corrupt than Brandon and he takes his orders from the unions.
    21
  11. Huge day for the 1st Amendment!
    21
  12. The hasn’t even begun to unload its $9 trillion balance sheet.
    16
  13. 2.25% when inflation is still 8.5% is still highly accommodative and flawed. A normal functioning economy doesn’t run on negative real interest rates.
    15
  14. Fed totally screwed the pooch on this one. No way should they have been buying mortgages and kept Fed rates at zero for so long. Housing gonna go down for years.
    15
  15. Peaking inflation? That’s because the Fed is going to remove the fuel. Which is eventually going to be brutal for earnings.
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  16. Can you even imagine how high rates would be if the Fed had to unload their $9 trillion balance sheet?
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  17. Bigger difference between dot com and 2008 is we now have near record inflation and crippling debt. That’s going to hamstring help from monetary and fiscal policy to get us out of this mess.
    14
  18.  @FREEDOM_OR_DEATH_  Stimulus checks and other wasteful spending is what has made things unaffordable.
    14
  19. We wouldn’t need a debt ceiling if we could actually trust these sleeze bag elected officials to actually balance a freaking budget. Live within your means!! Oh and let’s go Brandon!
    14
  20. It’s scary to think there are people refinancing to get a 7% rate when rates haven’t been that high in decades. These must be the people looking to take out every dollar of equity from the housing bubble before it collapses. Then the people just leave the keys on the counter like 2008.
    13
  21. Yellen and Powell CREATED this nasty mess we’re in.
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  22. The guy was completely wrong about QT. QT will put UPWARD pressure on bond yields.
    13
  23. These ARMs are gonna be a trap. Homes are gonna drop 30-50% depending on area. You won’t be able to get out the ARM without bringing $100-200k to the table. And even if you had that dough, rates will be higher because the Fed will still be fighting inflation.
    12
  24. At 6% inflation, real interest rates are still negative. Until real rates are solidly in the positive category, inflation will stay high.
    12
  25. What was the average home price when rates were last at 7%? One can expect home prices will return to those levels in a year or two.
    12
  26. Slaying the inflation dragon means raising rates higher than inflation. And that will pop bubbles and cause a recession. The Fed should have normalized back in summer 2020 when they realized they were creating massive bubbles.
    11
  27. Some pain? If they Fed was serious about fighting inflation, real rates would be positive. And they would be aggressively dumping their $9 trillion balance sheet. The Fed won’t get anywhere close to 2% inflation without the economy hemorrhaging jobs. It’s gonna be A LOT of pain.
    11
  28. Libertarian
    11
  29. You really think there will be a bounce at 11k? A Fed continued tightening environment will push nasdaq even lower
    11
  30. Or, much more likely, we need a 40% reduction in house prices.
    11
  31. Bring it on. Its gonna be far worse than 2008. All it needs is for a few more dominoes to fall like foreclosures or job losses…
    11
  32. The Fed should have never bought $3 trillion in mortgage bonds and kept rates at 0% for so long. This housing crash is going to be way worse than 2008.
    10
  33. Fed (and deficit spending) intervention has distorted market risk to be artificially low. Markets are now being repriced for actual risk and fundamentals.
    10
  34. Figure it out? Inflation has been worse and worse for over a year and the Fed has done nothing but talk so far. Until real rates are positive again, the Fed hasn’t done enough.
    9
  35. Real interest rates are still NEGATIVE 5%. The Fed has a long way to go to stamp out inflation.
    9
  36. Just raise Fed rates to 10%+ and get this thing over with.
    9
  37.  @faywhite7886  It’s all interconnected. As rates rise, other opportunities will pencil out for investors. Less than 1 in 5 is bought with cash. And rents absolutely go down. In fact, there have been many times tracts of new rentals just get bulldozed because rents collapse. Happened to my brother in Carrollton, TX in the 1980s on some brand new apartment homes.
    8
  38. I agree. Problem is, when home prices start falling they could fall for a decade. It’s that much of a bubble.
    8
  39. Oh the irony. Without the racist Rooney Rule, dude doesn’t even get interviewed. Now he’s as toxic as Kaepernick. Maybe Nike will give him a cushy gig.
    8
  40. “Backstop” just another euphemism for bailout.
    8
  41. I don’t understand why refinancing isn’t down 99%? Highest rates since 2013. Seems most of these current “refis” are cash outs at higher interest rates than what they already have? Makes no sense.
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  42. Interest rates work as stop lights for economic excess and bubbles. The Fed has left stop lights green in all directions for way too long.
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  43. The Fed hasn’t done a thing yet save maybe turning the speed on money printer down to 9 from 10. Just their rhetoric has created incredible market volatility.
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  44. Key point in leverage and margin debt. When the market crashes it’s gonna be ugly.
    7
  45. I don’t see how stocks can be priced above pre-Covid levels. We are in way worse shape (debt, inflation, bubbles, war, interest rates hikes chopping future earnings, QE ending and turning into QT, etc.). Dow 20k seems appropriate under these conditions.
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  46. Tesla shareholders should be concerned that their stock is wildly overvalued.
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  47. We really haven’t had a recession in 15 years (GFC). Covid was just turning off the car a couple months. Massive government deficit spending, record low interest rates, and trillions in QE asset purchases have artificially buoyed the economy and bought us some time by kicking the can. Now we’re reversing those policies. Not only are we having a hard landing, it will likely be the hardest one we’ve ever had.
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  48. The Fed giveth, the Fed taketh away. But the credit markets will seize up. There’s no buyers for the Fed’s $9 trillion balance sheet of losing assets. It’s gonna be interesting to watch how that affects interest rates.
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  49. The only “benefit” of buying a home during this bubble was having a sub 3% interest rate. Sacrificing that to pull a few bucks out is insanity.
    7
  50. You’re right but here’s the kicker. If we would have dealt with it 50 years ago we wouldn’t be facing such a dire circumstance today. The fact that we’ve kicked the can down the road for 50 years is just going to made the collapse catastrophic.
    6
  51. Joe Kernen is one of the few good journalists left who isn’t pimping an agenda.
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  52. Every Econ class I ever took had the same evaluation metric: if the return on the endeavor can exceed the discount rate, it’s generally worth doing. Rising interest rates make a lot of businesses insolvent.
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  53. They should be bearish. Recession on the horizon. Future earnings need to be discounted due to inflation and corporate debt is going to get more expensive.
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  54. This is WAY worse than the 70s/early 80s because at least back then REAL rates were positive. Today, everyone’s savings are losing 7% per year.
    6
  55. Granny Yellen and the treasury won’t stop spending until something irreversible breaks. MMT was always gonna be suicidal.
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  56. As wealth evaporates and Fed tightens, companies are going to have trouble raising capital. Especially the ones that are hemorrhaging losses like Uber and Lyft.
    6
  57. Real rates need to be positive and we’re not even close.
    6
  58. “Don’t Fight the Fed” works both ways. If the Fed money printer, asset purchases, and ultra accommodation created this bubble, then reversing these policies will certainly pop it.
    6
  59. That’s still about 700 bps short of fighting inflation.
    6
  60. 2023 a good year for tech? We’ll see. I think we’re starting a multi year decline
    6
  61. Bull crap. Sell off assets and give haircuts accordingly.
    5
  62. As long as reserve ratio is still 0%, no deposits are safe.
    5
  63. If your business is capturing people’s disposable discretionary income like Netflix, Peloton, restaurants, etc I would be worried. Those food and energy costs have to be made up somewhere.
    5
  64. Controlling inflation is easy. Just do what Reagan-Volcker did to stop it. Although this would likely lead to other problems…
    5
  65. Hopefully Israel is able to vet any military age men before there are allowed to leave.
    5
  66. Supply chain BS. You don’t print $5 trillion and do $10 trillion in deficit stimmy packages without creating huge price hikes - if you can still get things at all.
    5
  67. Just once more in my lifetime, I would like to see a balanced US budget, $0 Fed balance sheet and free market interest rates. This economy is so beyond fake.
    5
  68. How is the Fed going to sell $9 trillion in losing assets that pay between 0.5% and 2.5% when inflation is 8.5%? There’s gonna have to be some massive asset mark downs and guess who gets stuck with that bill?
    5
  69.  @brianoleson4634  Yup. You can blame the Fed.
    5
  70. Dude seems like a total weasel. Only spoke in nebulous 40,000 foot sound bites.
    5
  71. Here we go…..
    5
  72. That just tells us how many zombie companies are out there only surviving on ultra accommodative fiscal and monetary policies.
    5
  73. Isn’t that low? I’m thinking $50 trillion or more. If we last that long.
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  74. He’s right about rates being a traffic signal for market exaggerations. What happens when traffic signals are manipulated to be “green” for all directions?
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  75. Zero chance of recession ha! 100% chance of recession.
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  76.  @scrantonrager  Hmm. That’s seems unwise sacrificing a sub 3% interest rate on the whole loan to now pay 5% plus to free up some dough.
    4
  77. Make banks do two things immediately: 1) reserve ratio 10%+ 2) mark down their overvalued assets
    4
  78. Two choices: wealth destruction or buying power destruction. The Fed will choose to help the wealthy so don’t expect them to follow through on their empty inflation rhetoric.
    4
  79. “Reservations” aren’t sales.
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  80. The Dems have gone the reconciliation route for everything else since Biden was elected, they better expect to go it alone on the debt ceiling as well.
    4
  81. These analysts are so out of touch of reality. 4775 S&P 500? No freaking way. Recession by fall. Gas is staying above $4 for years. Food prices aren’t going down if you can continue to get food at all. Stagflation is here. More like S&P 2500 by end of year.
    4
  82. Until real interest rates are positive we won’t know just how bad things really are.
    4
  83. Said every meteorologist to date.
    4
  84. An alphanumeric string of characters that takes supercomputers to validate transactions invented out of the ashes of the GFC. I can’t understand why anyone would buy it.
    4
  85. We were one of those households who cancelled in Q1. We had barely used the service for the last year. Completely bored with the repetitive content. Should have cancelled a year ago. Inflation and the upcoming recession are going to make people shed many discretionary monthly bills.
    4
  86. Ever since I bought my first iPhone 3s in 2010, the product has changed very little. Yet somehow Apple can lure people to spend between $700-$1500 every year for an upgrade with very little increase in utility.
    4
  87. No Cramer, the stock market isn’t the weakest part of the economy. It’s weak everywhere.
    4
  88. I can’t see how stocks can be priced higher than pre-pandemic. We now have $10T more US debt that needs to be serviced. We have $5T more of Fed asset purchases that need to be unwound. And now we have near record inflation.
    4
  89. We’ve been using more and more debt and spending to keep the economy afloat for 50 years (the end of Bretton-Woods). One of these times, more debt and money printing isn’t going to work. Even reserve currencies have a finite credit limit.
    4
  90. Apple’s products are becoming increasingly stale. Why do people buy a new phone every 1-2 years when it’s basically the same product? Maybe as times get tougher, people will replace their phones about the same as their TVs: every 5-10 years.
    4
  91. Finally deleted my account for good a year ago after they kept putting me in jail for nonsensical stuff.
    4
  92. Oh please. How can somewhere have long term optimism when there’s $30 trillion debt, $125T of unfunded promises and trillion dollar plus deficits for as far as we can see? The dollar is toast. The future is Weimar Germany or worse.
    4
  93.  @askmedov  A lot of budget commitments are indexed for inflation like Medicare and Social Security so deficits increases will offset any debt monetizing.
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  94. I worked in a Anazon warehouse for a year. It was kind of fun. But it would have totally sucked if it was a union shop. There was too many laggards who complained all the time as it was.
    4
  95. UP close to $2k per month? Just wait until the job losses pick up. This is going to be way worse than 2008.
    4
  96. I was thinking same. Our Walmart is notoriously under staffed.
    3
  97.  @JominC  How can they if inflation stays high?
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  98. The economy is so false. It’s only thriving due to money printing, 0% interest rates, and trillions in deficit spending. Any reversal of these policies will crush it and the Fed knows it.
    3
  99. The banking reserve ratio is still at a Covid emergency level of 0%, in other words, UNLIMITED leverage.
    3
  100. How much longer will apple be able to get people to pay $1,000 for an unnecessary phone upgrade? At some point people will realize they are buying something they don’t need.
    3
  101.  @HughJass-313  I agree. I just meant stock prices made a adjustment based upon today’s new but we’ll continue to go lower.
    3
  102. QT and interest normalization should put stocks at late 2019 prices at best case. But it’s gonna be much worse…
    3
  103. I wouldn’t touch banks until the Fed restores reserve ratios.
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  104. I think people assume rates will go lower again at some point but rates may stay elevated for decades.
    3
  105. He’s right about all the policies being horribly myopic. Hell is coming in 2023.
    3
  106.  @victorespino5650  Trump’s beef was Obama had 0% rates for his whole presidency and then the Fed raised them right after he was elected. Even so, inflation was low so there wasn’t as big of reason to raise.
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  107. $35 billion invested in EVs? Yikes
    3
  108. Sarah is a badass.
    3
  109. When producer inflation is 11%, retailers can only absorb so much. But higher prices lead to less consumption.
    3
  110. If Starbucks unionizes, I’ll never go there again. Their prices are already outrageous. If unionized, employees would naturally expect to get more in pay and benefits than they are paying in union dues. So expect prices to go up another 5-10% and worker hustle and productivity to decrease so you will be waiting longer for it too.
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  111. It’s gonna get a lot, lot worse. Like game over worse. We’ve finally run out of road for the can.
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  112. Where can you get a home under $400k?
    3
  113. Ever since Reagan and Volcker had the guts to cause a recession to stop high inflation in the early 80s, the Fed has been in the bubble making business by forcing mortgage and other rates lower and lower, from 15% in the early 80s to a record low of 2.5% this past summer. The big difference today is this is the first time since then real rates are negative - big time, across the board. For example, if the Fed gets out of the MBS buying business, and let’s the free market dictate rates, mortgage rates would be 9% or more. That’s why the Fed only TALKS about stopping inflation. Their policies created this Ponzi scheme, so and any reversal of those policies will cause the Ponzi scheme to collapse.
    3
  114.  @zomgoose  Got it! Yes, true that!
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  115.  @vic8189  Yes - for those lucky enough to still have a job.
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  116. No, not if prices were back to where they were the last time rates were 7%.
    3
  117. Fed uber accommodative policies created the bubbles and high inflation and product shortages/outages. Any reversal of policy will pop those same bubbles they created.
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  118. Putin’s fault. SMH
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  119. FF rate at 2% means 10 yr yield 3.5-4% which means mortgages 5%+ which means home prices crash big time.
    2
  120. Most rational people acknowledge the US has virtually no chance of paying down its debt. Default and/or watering down with inflation are the only two options. Therefore, when the US soon turns to private investors instead of the Fed to buy its debt, what interest rate would investors demand to account for this risk? 5%? 7% 10% 20%? Game over.
    2
  121.  @headspaceandtiming2114  I think we do. Problem is I think this fiscal and monetary Ponzi scheme is on its last legs. A Volcker solution would bring it all down faster. The Fed and reckless politicians are just hoping it doesn’t come down on their watch.
    2
  122. Money printer off by March combined with 3 rate hikes? 2022 gonna be interesting…
    2
  123. It’s $300,000,000,000.00 per year in extra interest cost for every 1% increase in rates. 4% would be $1.2T!
    2
  124. Well, it doesn’t exactly take a rocket scientist to see the market is heading lower big time.
    2
  125. There is only a hard, ugly landing. The corporate and personal bankruptcies will start hitting this summer.
    2
  126. My only surprise is why everyone didn’t see this coming. Fed action (and record deficit spending) created this bubble.
    2
  127. We have two choices: wealth destruction or buying power destruction. Of course, both choices are effectively the same net loss overall. Just the former hurts the rich the most and the latter hurts the poor the most.
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  128. Stock and housing will both be down 50% in 2 years.
    2
  129.  @neuropuritan_zealot8455  What does that even mean?
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  130. Dems are in power and have been running government without GOP input since Biden was elected. They can do debt limit alone as well. Dems wanted to be one party bullies, so they can figure out the debt ceiling as well.
    2
  131.  @huntermusk7613  For the average user, how much better is the iPhone 13 over the say, iPhone 6? Both do and perform essentially the same. Apps, good camera, good battery etc. The only really useful upgrade I’ve had was going from the 3s to the 3GS since the web interface sucked on the 3s otherwise the phones have been basically the same.
    2
  132. I highly, highly doubt Jeremy Siegel will ever see the Fed’s target rate of 2% ever reached again in his lifetime.
    2
  133.  @blackguytraveller7797  Financial statements are backward looking. That were only temporarily better off because of the trillions helicopter money and record low rates on their debt. That’s all changing. Inflation is a lagging indicator and that is going to crush future earnings.
    2
  134. And it will
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  135. One prices start falling, they will fall for the rest of the decade.
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  136. There is no soft landing. Fed policies and massive deficit spending created these bubbles. Any reversal will pop them.
    2
  137. What’s scary is real interest rates are still negative yet banks are already failing. Can you imagine the carnage if the Fed had the guts of someone like Paul Volcker?
    2
  138. Oil is only going down because the futures market has been pricing in a greater and greater chance of recession.
    2
  139.  @danielvalenzuela8814  Don’t forget the $2 trillion in student loans.
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  140. Until real rates are positive, the Fed is stimulating inflation, not curbing it. But what would 10% rates mean for stocks, housing, jobs and the economy?
    2
  141. Real rates are still negative. Until the Fed has rates solidly positive, the Fed should continue to raise rates. Of course that’s gonna cause a lot of pain but the alternative is even worse. If you want to avoid these disasters in the future, Interest rates should be determined by the free market, not Fed manipulation.
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  142. Sarah is a smoke show. Great dress today.
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  143. Is anyone surprised Yellen continues to lie about the facts? Grandma needs to go.
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  144. Firstly, he got tons of free publicity. Second, he exposed Twitter of bias, fraud and understated BOTS for virtually no cost to himself. The man is a genius. He’s always 3-4 moves ahead of the competition.
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  145. Agreed! But inflation is not going away that easy.
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  146. Wishful thinking. And even in the unlikely event rates go back down, home prices will be down 30-50% so you won’t be able to refinance unless you bring $100-$200k to the table.
    2
  147. No bad actors? What do you call $9 trillion in Fed QE money printing? What do you call record trillions in federal deficits? 0% federal funds for too long. Rise in exotic mortgages. Inflation at near all time highs. Putin. Mortgage rates up 70%z There are bad actors everywhere.
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  148. Thank you Elon for exposing the corruption and canceling of free speech at Twitter!
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  149. Where do they find these people? There’s a 100% chance there’s an imminent recession. And to blame supply chain and the Ukraine War is bunk. This is all from massive currency destruction due to reckless monetary and fiscal policies.
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  150. Inflation won’t subside until the Fed makes real rates positive. They don’t have the guts to do that.
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  151. The Fed has two choices and they are equally draconian. Crater the economy or let inflation run amok.
    2
  152.  @stephenjacks8196  Everything declines during a depression. But a collapse of the monetary fiat system is different. You will be happy you have gold and silver instead of a worthless fiat currency.
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  153. Why isn’t the Fed restoring the 10% reserve ratio? And why aren’t bank assets being priced appropriately?
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  154. That’s a lie. Banks reserve requirements are 0%. If the country loses faith in the US banking system, it won’t take very much of a run to bring down the whole thing.
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  155. Stop using misleading euphemisms like “backstop.” It was 100% a bailout.
    2
  156. @Numbered--Weighed--Divided As they should. In a non-Fed manipulated market real rates wouldn’t be negative
    2
  157. Unless you’re a monopoly, unions are are loser for everyone but the guy collecting the dues.
    2
  158.  @ryanpenman251  No! If Amazon unionizes then a non-union online seller like Walmart will destroy them. Just look what the non-union grocery stores like Winco did to the union grocery stores.
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  159. The only thing holding the US economy together is 0% interest rates and massive deficit spending. When/If that is forced to change, markets will crash.
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  160. Joe Kernen is one of the few reasonable and pragmatic people left in MSM.
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  161. The combination of Fed policy and wasteful stimulus spending over the last 14 years has dug us into an impossible situation with no good choices.
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  162. Well, the Fed knows inflation is real and running higher than they will ever admit. That’s because they freaking created it! $5 trillion of printed money out of thin air in 18 months will tend to do that!
    2
  163.  @gregmacklin9758  Blame that on the Fed too. Thanks to the Fed keeping rates too low, too long, investors were/are desperate for yield and rental income is greater than 1% bonds. But, if rates normalize, these home “investments” are going to crash big time and they will get burned on their principal.
    2
  164.  @dorbid  Nobody got trillion dollar tax breaks.
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  165. Who besides the Fed would loan a country like the US that has a record $30 trillion debt at 150% of GDP money at 2% when inflation is 6.8%?
    2
  166.  @fabbz94  And home prices were $35k for a nice 2,000 sq ft home. Hopefully we go back to those days
    2
  167. Idiot and corrupt democrats complain that the rich should pay their “fair share” yet they want to do a huge giveaway to the rich by repealing SALT caps.
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  168. This all seems so suspicious. China unleashes Covid which bankrupts the west and turns the people against Trump. Putin invades Ukraine. China denies it’s an invasion…makes you wonder what is coming next.
    1
  169.  @canicksmith6629  That seems counter intuitive. The way they can survive the crash is a very low mortgage. But to take a new mortgage that is 2 plus points higher and waste $5k on loan fees to get a little dough out seems reckless and could easily result in them losing their house altogether.
    1
  170.  @canicksmith6629  Then they should have never bought a house.
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  171.  @canicksmith6629  Seems we are doing the same thing in 2022.
    1
  172. Real rates are still negative and the Fed isn’t close to their promised 2% inflation target. Tomorrow’s inflation report is huge. It’s not like the Fed has any credibility left but if they abandon their inflation fight they will be a laughing stock.
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  173. It gives me endless glee that the left is afraid of the man who got filthy rich on green energy.
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  174. Anybody that’s taken a junior high level economics course knows that trillions of money printing with flat or reduced things to buy will produce high inflation 100% of the time. Yet idiots in the Biden administration are blaming greedy businesses and supply chains. Apparently they all flunked junior high economics.
    1
  175. Fed officials never believed the transitory narrative. But they tried and failed to talk consumers into believing inflation wasn’t real. That’s because they knew all along if they were forced to use their tools, it would cause a massive recession or worse. And they haven’t even started unloading their $9 trillion balance sheet…it’s gonna get ugly.
    1
  176.  @headspaceandtiming2114  And Carter got the Arabs and the Jews, enemies for thousands of years, to have peace talks. All Biden can do is show weakness and escalate the Ukraine War.
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  177. I must admit I’ve been wrong for years on Tesla. I still don’t see the future being EVs more than just maybe a 20% market share niche. No one I know will ever buy an EV. We’ll see.
    1
  178.  @johnmqueripel2367  We just love the sound and feel of ICE vehicles.
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  179.  @78katz  I know a ton of people. Just nobody I know is interested in an EV. One guy bought an e-bicycle tho. Maybe that’s the gateway drug to an EV?
    1
  180.  @jayc147  You can’t get much more green energy than an old school typewriter. 100% human powered, just watch your p’s and q’s. Maybe that’s the next step in evolution. Vehicles powered like they were in Flintstones.
    1
  181.  @johnwilson5743  Sad? Cheap fossil fuel energy is one of the things holding this country together. If the idiotic Biden Administration weren’t so hostile to the industry, gas would be even cheaper.
    1
  182. You made a typo. You meant “We” instead of “They.”
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  183. Terminal rate. Ha. 80s joke. What’s the difference between Seattle and San Francisco? Seattle has ferry terminals whereas SF has terminal ferries.
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  184. Just wait until the Fed unloads it’s $3 trillion in mortgage bonds. No way the free market can absorb that without rates skyrocketing even farther.
    1
  185.  @vitbing  Where households can only outspend their income for years, governments can do it for generations. I honestly don’t think we have long at the pace of today’s multi trillion annual deficits. We’ll see but it’s gonna be ugly once it finally happens.
    1
  186. This is a classic example where government always makes the problem worse. Price controls will just make a product unavailable AT ANY PRICE!!! This is all basic economics that idiot Pocahontas pretends not to comprehend.
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  187. @Noplaylists You never really own it. I’m sure you are still making regular property tax payments to the the government.
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  188. Fake news. Wholesale prices DIDN’T DECLINE as the headline implies. They still INCREASED nearly 10%!
    1
  189.  @hpgroup9519  Just the rate hikes alone are going to discount the hell out of future earnings and expose countless zombie companies. This is just getting started.
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  190. How does the wal-mart and target earnings fit Brandon’s “greedy price gouging companies” narrative
    1
  191. But this is the first time in 40 years that high inflation has been in the cards. And that’s more insidious than recessionary job losses or stock market collapse.
    1
  192. Joe is right. Food prices are extremely competitive. Pocahontas just pretends not to understand economics 101 for political gain.
    1
  193. The market is going to stay distorted and broken until we have positive real interest rates. The Fed needs to immediately raise rates to at least 9% and nip this in the bud.
    1
  194. Walmart just raised their minimum wages 15%. This rippled through to other low skilled jobs and everywhere up from there. Labor is the most expensive input costs for most businesses. Therefore, this will be passed on in higher and higher prices. We are in a wage-price death spiral.
    1
  195. What an idiot. So increasing the money supply by 1/3rd with no commensurate increase in things to buy creates mild inflation?
    1
  196.  @JominC  “Supply chain” issues are just symptoms of the money printing and deficit spending disease. Take away the money printer and free stuff punch bowl, supply chain issues will go away. The Fed has a long ways to go to do enough demand destruction to make up for the policies of the last couple years.
    1
  197. Agreed. No soft recession. Just a Fed induced recession unless they abandon trying to slow inflation.
    1
  198. Oh for Christ’s sake the Fed hasn’t done anything yet. Wait until the Fed starts unloading its balance sheet and has a couple 50 bps hikes under its belt before you claim the economist is holding up under Fed tightening.
    1
  199. The Fed is only just starting interest rate hikes. They haven’t even begun unloading its $9T balance sheet. We’re nowhere close to a bottom.
    1
  200. People are stupid. Those stimulus checks for doing nothing? Now they get to pay them back pay ten-fold in higher inflation costs. And, after that, millions will lose their jobs due to higher interest rates and Fed tightening. There is NO free lunch.
    1
  201. I had turn this idiot off the minute he said minimum wages should be higher. Someone who rose to a position this high at Amazon should at least have a basic understanding of economics.
    1
  202. The Fed created this mess with negative real interest rates. High inflation was the natural result. Now these artificial bubbles are going to be very painful to pop and unwind.
    1
  203. Fed credibility? Please. Mohammed, the Fed LIED about inflation because they very knew their policies CREATED it. Trillions in money printing supporting trillions in deficit spending. But you know all this.
    1
  204. …to ZERO! I’m with Buffet and Munger on crypto. No way it survives long term.
    1
  205. It’s much, much worse than 2008. And when the bubbles pop, the Fed won’t be in a position to save it.
    1
  206.  @alexanderharo4550  No, conditions are way worse today than they were in 2007.
    1
  207.  @llewodcm20  What is government? They are corrupt humans whose “solutions” are 10x worse than the problem they are claiming to fix. Covid was cover to fleece the taxpayers to bail out public pensions, schools, state and local governments and countless other things unrelated to the pandemic. And yes, the humans at the Fed artificially propped up housing via trillions in QE and record low interest rates.
    1
  208. The Fed owns $9 trillion of the same underwater assets that took down SVB.
    1
  209. So dumb. Gas and oil are some of the most competitive things we buy. You know what’s not competitive and gouges taxpayers? Unions and government! Biden’s core constituency.
    1
  210. When real rates are still hugely negative, Fed policy is accommodative and stimulative to high inflation. Then again, Volcker style Fed rates would bring their own set of problems. This is all setting up to be a debt crisis of biblical proportions. We’re screwed.
    1
  211. Unlike anyone in a Biden administration, Musk is an African American who got his job and success due to being qualified for it.
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  212. El-Erian is no dummy but he’s wrong. Unless he means no recession because it’s gonna be a depression. We are living in the biggest Ponzi scheme in US history.
    1
  213. There is no fundamental reason why homes should be higher in price today than pre-Covid. Millions more without jobs, thousands of businesses gone forever, trillions more debt, etc. This is purely a monetary and fiscal policy created bubble.
    1
  214.  @neuropuritan_zealot8455  I’m just saying under normal circumstances, banks and other lending institutions wouldn’t lend knowing they will be getting less money back than they lent (in real terms). That’s how badly the Fed has distorted free markets.
    1
  215.  John Baptist  Usually underwriting wants to look at tour liquid assets before they approve you
    1
  216. I wouldn’t touch banks until the Fed restores reserve ratios.
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  217. I’m 55. Let’s just keep the Ponzi scheme going another 25 years.
    1
  218.  @JC-qz8ox  You are the one who is misinformed and clueless. The Fed has only just begun tightening and unloading its massive balance sheet. Job losses are going to accelerate over the next few months. Higher interest rates are going to expose and bankrupt tens thousands of zombie companies. Without the Fed buying up mortgages, banks will be stuck with them which will cause stricter underwriting. And due to high inflation, once it crashes the Fed and government spending won’t be bailing the housing market out this time. Home prices will be down 50% in 3 years.
    1
  219.  @joakimdam9723  Not really. The housing market never fully corrected in the GFC. Interest rates were immediately forced to 0% and the Fed starting buying up mortgages by the trillions. These actions artificially stimulated the housing market and continued until just a couple months ago. Now, with the Fed fighting near record high inflation, they won’t be there to create a housing floor in prices - so the housing crash will get even uglier. The Fed is even calling for a housing price reset.
    1
  220.  @johnmininger7472  Rising rates and inflation eating up household budgets will cause millions of job losses. And those job losses will cause inventory to surge.
    1
  221.  @ronaldlindeman6136  The jobs are not even back to where Trump had them before we purposely shut down the economy. Going back to work after shutdowns is NOT job creation it’s just people going back to work. And guess what Fed normalization is going to do to jobs?
    1
  222.  @SuperCowboys16  Trump’s policies unleashed one of the greatest economies ever. It took the Biden Administration less than a year to put us into recession with near record high inflation.
    1
  223. That’s because more than 54% of degrees are useless. They need to make all those goofy study areas cash only. No more loans for gender studies.
    1
  224. He’s such a liar. If they are raiding the FDIC to make whole more than the $250k they are budgeted for, then that fund will need to be replenished via higher fees. Who does Biden think pays these fees?
    1
  225. Using the FDIC as a shell company to bail out bad actors is no different than 2008. It’s just the type of plan Enron would have unleashed. The taxpayers are ultimately responsible for the fiscal health of the FDIC so it’s no different than a direct bailout. Just a sleazier version of it.
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  226. I didn’t realize until these banks started failing that the Fed snuck in a change to the reserve ratio to 0% when Covid hit. Which they have yet to restore to 10% or higher. This is why it doesn’t take much of a bank run for these smaller banks to fail.
    1
  227.  @jeremyramey3221  The independents will blame the party in power.
    1
  228.  @johnnaylor1706  Most of that $7.8 trillion was bi-partisan Covid spending that the Democrats wanted to spend even more on.
    1
  229.  @incurab1e  Inflation will eventually force the masses to start making tough choices
    1
  230.  @incurab1e  I do think a new iPhone has lost its “wow” effect. 10 years ago, People used to notice the latest iPhone and features now no one cares since they are basically the same.
    1
  231.  @HappyLilJimmy  People only throw money down a rat hole for so long. The best apple can do now is come out with funky new colors that people just cover up with a case.
    1
  232. Maybe corrupt career government slugs like Yellen are doing fine, but most of rest of Americans are struggling.
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  233. Such a stupid statement. Everything normalizes over enough time.
    1
  234. Notwithstanding all the talk, all the Fed has done to date is turned down the speed on the money printer from 10 to 9. If the printer really does stop and rates rise, watch out below.
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  235. Stock prices love certainly. Plus, a 75 bps shows more Fed resolve to curb inflation.
    1
  236. Tesla does a brilliant job of creating the illusion of scarcity. However, I would like to see a poll of the % of people who EVER see themselves buying an EV. It’s just a niche vehicle for the virtue signaling snobs. Why you think they have to bribe people and invoke the DPA to help force this garbage on people?
    1
  237.  @chrisw9534  No thanks. After waiting an hour to charge the thing I would drive it over a cliff. I just bought a 2022 fully loaded Honda Civic for lees half the cost of a Tesla 3. I’m good for 20 years. ICE will be with us for decades upon decades.
    1
  238.  @blackguytraveller7797  They are/were only making money because the Fed and deficit spending dumped trillions upon trillions in helicopter money everywhere. Now we’re paying the price.
    1
  239.  @blackguytraveller7797  Of course some companies did better and shored up their balance sheets. There are always a few winners in an overall losing environment. 3 out of 4 are worse off, especially growth and tech and the ones who have yet to turn a profit.
    1
  240.  @justincadle7070  Agreed. The problem with Fed intervention is risk was vastly understated. Now these companies will be forced to raise money through actual markets that will evaluate and expect to be compensated for level of risk.
    1
  241.  @icecoldchilipreppers  Sure. Increased money supply without increased productivity will increase stocks nominally in the short term. But sooner or later, inflation expectations will crush the value of future expected earnings. The invisible hand will price accordingly.
    1
  242. Real rates aren’t even a positive number yet. The Fed needs to keep raising.
    1
  243. The Fed is lying about QT. They are way behind schedule and have actually added billions in mortgages. There aren’t buyers for these toxic losing assets.
    1
  244. The country SHOULD blame Biden and Democrats for being primarily responsible for inflation. It’s mainly due to their reckless spending and stimulus packages combined with their hostile policies regarding domestic fossil fuels.
    1
  245. I knew it! The Fed would not be able to unload its $9 trillion balance sheet without huge negative consequences. QE was a massive mistake.
    1
  246. More lies. Inflation is a lagging indicator, around 18 months delayed, and the Fed is still printing. The only way inflation slows by the end of the year is if we’re in a deep recession with tons of job losses.
    1
  247. There would be no supply side problems without shutdowns, 0% rates, flooding of money printing, and trillions in stimulus. That all needs to be reversed.
    1
  248. The Fed has lost all credibility since Paul Volcker. They’ve been in the business of keeping a massive scheme alive ever since.
    1
  249. Higher royalty means higher gas prices. These people are idiots. FJB
    1
  250. This is awesome news for free speech and to limit the nefarious agenda of the woke mob!
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  251. The Fed blew the housing bubble. It’s up to the Fed to pop it.
    1
  252.  @Lenny1337i  Oil is definitely pricing in a world economic slowdown. Biden emptying the SPR is bringing oil down prices a bit too.
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  253. Huge upgrade from granny “transitory” Yellen and the other Biden administration nut jobs that couldn’t run a lemonade stand.
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  254. Never forget Biden bailed out public employee pensions in the ARA and also college students loans. But nothing for all of us who have to rely on SS.
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  255. Which is exactly why this is a bailout. Taxpayers will be on the hook to backfill the FDIC.
    1
  256. These Biden fools don’t have a clue. The Fed isn’t and hasn’t fought inflation because it can’t without popping bubbles and causing a recession. The Fed is just praying that the recession happens BEFORE they are forced to cause it.
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  257. The Fed should have never been a straw man buyer of $3 trillion of US mortgages. And they kept rates at 0% for way too long. This created the biggest housing bubble in history. Get ready for a long ride down…
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  258. “The US has the potential to…” Way to hang your self out there Mohamed.
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  259. The Fed won’t admit there’s inflation because their ultra loose money printing accommodative policies CREATED It.
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  260. Democrats won’t be happy until dollars are worthless. That will just solidify their power.
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  261. Why is the government ignoring the 800 lb. gorilla? 0% reserve ratio and overvalued debt assets? Until these two things are fixed we won’t know the true extent of the banking problems.
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  262. The Fed money printer and the US debt situation is a much bigger Ponzi scheme than FTX. The only question is how much longer until it unravels?
    1
  263. Joe and Becky are awesome. Get that woke idiot liberal kid off the show.
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  264.  @chiveerum  That was the problem. They censored content to comply with an agenda just like Goebbles did. Now under Elon it stands to be free speech. That should make any American proud.
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  265. Under “normal” circumstances, homes are a money pit just like a car. Sure, they might hold their value, but they also require thousands of dollars each year in maintenance and upkeep. Plus, I expect Fed tightening to end the party on outrageous home price increases - and most likely will cause prices to fall significantly over the next few years.
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  266.  @TheWesterosiNinja  Yes, thanks to record deficit spending and money printing combined record low interest rates and accommodative policies, the prices for everything are going through the roof. But Fed policy reversals are going to crush demand.
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  267. The Fed created this housing bubble with 0% interest rates for too long and gobbling up trillions in mortgages. This was exacerbated by trillions in Covid spending. This is all going away. The last leg standing is jobs. Once those start going away, home price declines will accelerate.
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  268.  @TheSpartan3669  Who knows if it will cost him anything. He was hoarding Twitter shares in the high $20s, did he sell any the $50s? That would have made him billions. It’s gonna be an ugly trial. Twitter will be exposed by overcharging advertisers based on number of real accounts. Plus, he gets off on it. He lives like a pauper and has got more money than he can ever spend so if he pukes up a few billion to poke fun at how fraudulent and biased Twitter is, so be it. The dude stirs the pot. That’s a good thing.
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  269.  @theunbearablebull  I’m a definite bear but I still have my investments. Who knows how much longer this charade can last? It’s only held together by trillions in deficit spending.
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  270.  @theunbearablebull  I still think there’s gonna be a nasty black swan event in the near future that starts the unraveling on this whole debt fueled financial Ponzi scheme. My prediction is a bond auction will go poorly that will start the rolling defaults.
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  271. Young people “driven more by purpose than by money.” Maybe that’s why these damn idiots want the rest of us to bail them out of their student loan debt.
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  272.  @ComedyMisfitss  Wrong. Futures are just a projected estimate. CPI, on the other hand, is based on actual data. Besides, the bond market portends inflation is going to be high for quite some time - and the Fed isn’t close to being done tightening.
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  273. I don’t listen to anyone who sleeps with Chinese spies. Get this guy off CNBC
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  274. We’ve been in a recession since 1/1/22. Q2 will be contractionary.
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  275.  @pukes6273  Any reason to think trade will be better in Q2? The thing is tho, all that matters is real “inflation adjusted” GDP.
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  276.  @pukes6273  No, that’s not why I think we’re in a recession. Q2 will show demand destruction due inflation destroying disposable income.
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  277.  @adventuresinthebay8487  Not really. A solid state electronic device is much more reliable than a mechanical vehicle with all its parts that wear out. An iPhone is more similar to the PC of from the 80s-2000s. People bought them every year or two due to planned obsolescence even though you used them virtually the same.
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  278.  @yayger825  Like most other I cave to buying a new iPhone every year or two. But I always wonder why. Haha.
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  279.  @shdmd2118  Yes
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  280.  @tioswift3676  The 3s and 13 both have built-in phones, emails, texts, apps and cameras. Sure, the cpu speed is faster, the camera is higher resolution, and the apps are more plentiful and refined. If apple didn’t force obsolescence via non-support after a few years, there’s really not much reason to get a new one. It’s a unnecessary scam.
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  281.  @adventuresinthebay8487  Same reason. Just to get attention with the latest and greatest, even if the utility isn’t enhanced much.
    1
  282. Mortgage rates up 70% in just a couple months. Poised to go even higher. Fed ending buying MBS. Home Prices are all time highs. Inflation highest in 40 years or more than 100 years if calculated the same. Rise is exotic mortgages. Major war in Europe. What could possibly go wrong with home prices?
    1
  283.  @sociolocomtsac  Just read a couple articles that home prices already falling and we’re only a month into Fed normalization. Lots of mortgage industry people getting laid off. The dominoes are falling…
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  284. Pivot? All the Fed has done is turn the speed on the money printer from 10 to 9.
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  285. How can one argue that the stock market should be higher than pre-Covid? Public and private debt has exploded since then. Millions more out of the work force and may never return. Asset bubbles everywhere.
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  286. The only chance of corralling inflation IS a demand killing recession/depression.
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  287.  @Rob_G716  Will never happen. Not with Debt is this high and lenders will be able to name their price. Interest rates will likely be in double digits for decades.
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  288. Facebook has turned into woke censor nazi madness. Me and many others have canceled our accounts forever.
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  289. 100% chance of recession by 2023 and we’re likely already in it - especially if you look at real GDP.
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  290. I’m not buying that the Fed will ever end high accommodation. They are stalling, hoping a recession will crush demand to bail them out from popping bubbles.
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  291. Negative real interest rates have forced money to chase yield: stocks, housing and other risky assets. Any normalization of rates will cause an epic collapse. It needs to happen though.
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  292. Until EVs are 50% of all new vehicles sold, no one can pick a winner. They are still just a small niche vehicle compared to an ICE vehicle.
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  293. Sure, why not. If you are a super wealthy billionaire why not have 1-2% of your wealth in crypto and SPAC long shots “just in case” but fully expect to lose your entire investment.
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  294. That’s his point and why it’s a Ponzi scheme!
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  295.  @robertblue3795  No. QE is a relatively new phenomenon and pushes the Ponzi scheme to extreme levels. And ALL Ponzi Schemes end ugly
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  296.  @robertblue3795  And that will be our demise.
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  297. Home prices are all just an illusion by the Fed. If they dumped their $3 trillion dollar in mortgage bonds and let the free market determine mortgage interest rates, home prices would fall 50-80% depending on region. And that is before even mentioning how bad things would be if the US was forced to live within its means.
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  298. Before Obamacare and it’s expanded Medicaid most workers took whatever job they could get for the health benefits. Now they get even better insurance by not working. This was all predicted as a side effect of Obamacare. Add to that higher and higher food stamps, $3600 per child tax credits and many other programs, being unemployed is a good paying gig.
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  299.  @robertc801  That’s an excellent point and I agree. He seemed solid until he pivoted to bitcoin.
    1
  300. This economic mess is a long time coming. Things started to go off the rails after 9/11 started two wars and massively expanded government. After the GFC, the deficit spending went on overdrive. Worse, the Fed turned a straw man buyer by using its money printer to buy $9 trillion of debt instruments. This doesn’t end well.
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  301. Trade growth? We’re not gonna have adequate food in a few months.
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  302.  @mraso30  USA and Canada might be fine for now but not the rest of the world. Those lost exports from Russia and Ukraine are going to be missed. And the droughts in the US Southwest are wiping out farms.
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  303. I wonder what the per unit cost of these credits cost? That has to be built into the price of every ICE sold. Just one more unfair subsidy that benefits only the wealthy EV buyers.
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  304.  @whynotstartusingyourbrain8726  Stupid? It’s 100% true. Tax credits and fees ICE manufacturers have to pay to EV manufacturers are all costs that ICE buyers have to bear to subsidize EVs. If EVs were so great, they shouldn’t need all this welfare. It’s disgusting.
    1
  305.  @1flash3571  EV buyers have received billions in tax credits. And ICE car makers have to pay EV makers like Tesla billions in tax exchange credits. So the poor and middle class who can only afford an ICE are further subsidizing EVs. It’s a disgusting giveaway to the rich at the expense of the poor.
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  306. One year of Biden and democrats and we have an humiliating surrender in Afghanistan, war in Europe, 40 year high inflation, porous border, record high crime, and record deficits and debt.
    1
  307. 0% chance of a soft landing. This economy is addicted to cheap and easy loans. Jobs will be hemorrhaging in 3-6 months forcing the Fed to abandon using its tools to fight inflation.
    1
  308.  @Erikpdx  Well it’s true that government’s can get away with Ponzi’s schemes longer than your average crook, even for decades. The level of debt madness since 2008 has been insane. But it always ends the same. My guess is we’re getting closer to the end. We’ll see…
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  309. Why is the US wasting all this money to defend Ukraine’s borders from invaders when she can’t defend her own?
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  310. At least stocks and bonds provide regular cash flow. Bitcoin earns nothing.
    1
  311. Andrew Sorkin is such a d-bag.
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  312. Home prices will be 50-70% lower in 2 years
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  313. Big mistake. I predict after the niche buyers purchase their EVs, the market will mostly dry up and voters will demand ICE mandates be repealed.
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  314. Real interest rates are still negative. And the Fed has barely shed 8% of its massive balance sheet of overvalued debt assets. Yet things are already breaking. God help us if tomorrow’s CPI is bad.
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  315. That chick is not very smart. Textbook Econ 101 inflation is money printing without a commensurate increase in things to buy. And we’ve printed more money than ever in the last 2 years where productivity has fallen.
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  316. If your business is based upon discretionary monthly fees, be wary. Inflation is forcing some tough choices.
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  317. Doing both QT AND raising rates is even better. Higher rates will bring down the price of homes and other things due to demand destruction. The housing bubble needs to pop.
    1
  318. That’s funny. Nobody I know will ever consider buying an EV no matter how cheap they get.
    1
  319.  @Dank_Nuggetz  Exactly. Or there will be a better tech altogether like hydrogen or as yet to be revealed alternative.
    1
  320. Somebody should have asked the black guy about BLM donations going to buy the founder a mansion instead of helping black communities.
    1
  321.  @id10t98  Exactly! So what model is better for employees?
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  322.  @Zack-vi7is  The only way union workers can make more money is if they are a monopoly or more productive. And sadly, unions tend to reduce worker productivity since they reward longevity over productivity. If union shops are forced to compete with non union shops, they will always get crushed.
    1
  323.  @Zack-vi7is  That’s only because most union workers are public sector monopolies.
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  324.  @bgates1128  How do unions make companies/businesses more productive to justify higher wages and benefits?
    1
  325. This financial Ponzi scheme is unwinding fast. Gold and bitcoin are gonna start going nuts. People have clued in to what a scam our financial system is.
    1
  326.  clotshots9072  Not to mention the Fed acting as a straw man buyer of $9 trillion in mortgages and US debt.
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  327. Totally agree. Since 2008, we’ve added $20T in new debt (tripled it) and printed $9T.
    1
  328.  @jimbeam4111  Exactly! But the way they keep manipulating the data and changing the formula, who knows?
    1
  329. I’ll never touch an EV until it’s just as convenient as an ICE for the same price. It’s not even close.
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  330. Groceries are some of the most competitive things Americans buy with profits typically in the single digits.
    1
  331. Once government decided to bail out private sector companies and pick winners and losers, capitalism in the US died. All this ESG nonsense is just today’s version of extortion no different than a business paying for mafia “protection.”
    1
  332. Musk is right. Hell is coming. Excess Debt and money printing is going to cause a credit crisis of epic proportions.
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  333. Oh barf. First it’s transitory, now it’s peaked. So sick of these corrupt idiots lies..
    1
  334. I swear Jay Powell must have been a car salesman earlier in life selling “$1495 weather protection packages” with a straight face. I’ve never seen a bigger obvious liar.
    1
  335. Um, yes it is. Especially smaller companies or zombie companies.
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  336. The stock market is priced on future earnings estimates. If the stock market is weak, that just portends job losses and economic contraction are on the way.
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  337. Strong? How strong would the economy be if the government ran a balanced budget and normalized rates, and turned off the money printer?
    1
  338. 3200 is hardly worst case by fall. Too much instability. We’ll see how the dumping of the $9 trillion Fed balance sheet is going by then. Me thinks not too well.
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  339.  @nicopono1  Huh? They started raising rates right after trump took office. They were 2.5% plus before the taper tantrum. Now, we’re only 0.75%. We need rates higher than inflation.
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  340. It’s only challenging because the Fed screwed up royally. They should have begun to normalize rates and stopped QE in the summer of 2020.
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  341. Should we be worried? It seems every time the virus spikes in China, the rest of the world gets it a few months later.
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  342. And here’s the thing, if we measured inflation the same way we did in the 70s, we would already be higher than any of those double digit rates.
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  343.  @nT9HvWmDB5f8k2G  I trust Peter Schiff must more than a political hack article. He points out how the market basket has been manipulated over time to minimize the inflation figures. Why do you think the Fed flat out lied about for so long? Nobody wants to have to deal with inflation, because doing so will pop bubbles and cause a recession.
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  344.  @zomgoose  That just means it will take a smaller drop in prices before they leave the keys on the counter and walk away.
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  345.  @noonan395  When interest rates go to 7-8% they will be plentiful.
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  346.  @HardcoreGamer101508  No, but when interest rates rise to 7%, homes will be reduced in price from $500k to $200k.
    1
  347. What’s sad is why we need a debt limit in the first place. You would think we could trust our elected officials to balance a damn budget.
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  348. @Mark Miwords Is more like fascist democrats going after their former heroes like Musk for coming to his senses. Now saying Tesla doesn’t meet their ESG nazi agenda.
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  349. @Mark Miwords My honda gets 45 mpg and I ride a bike to work. Gas prices can go to $500/gallon as far as I am concerned you lefty lunatic.
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  350. @Mark Miwords Haha! Yep. Yeah, most of my cycling buddies are left wing nut jobs.
    1
  351. Now we have banks failing from the declining value of their long term yield assets. I wonder how much the $9 trillion of this garbage the Fed bought is now worth? Seems the financial collapse is coming quick.
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  352. Sure it will. Crush income and demand and supply problems go away too.
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  353. The Fed’s role is to keep the Ponzi scheme going. Instead of having healthy smaller recessions, the Fed has manufactured a much, much larger and more destructive one when it happens.
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  354.  @user-bj1rg6sm5n  We got lucky for a long time but when you play with fire you will eventually get burned. 0% rates for too long, $9 trillion in Fed straw man purchases of mortgages and US debt, and trillions in needless deficit spending packages unleashed inflation. We will likely never see 2% inflation again.
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  355.  @dorbid  Dude, everyone who has a job got a tax cut. Families got their child tax credits doubled and tax deductions were also doubled. The only people who got stiffed were the filthy rich limousine liberals who got their SALT capped.
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  356. Joe Kernen is the best!
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  357. The fact they you’re calling a “peak inflation” and “peak fear” means we aren’t even close to it.
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  358. It speaks volumes that the Fed still hasn’t moved to restore reserve ratios and force assets to be properly priced.
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  359. David is right. The recession is here now or will be much sooner than late 2023. This economy is just too fragile and manipulated to withstand a few more rate hikes without withering. Add to that the $9 trillion portfolio liquidation and the $hit will be hitting the fan by fall.
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  360. $3 trillion in Fed MBS buying is massive . We would have to liquidate the entire market cap of Apple, Tesla and Google to buy that many mortgages. And who is going to buy an asset with a huge negative real interest rate? The Fed is going to take a bath on all these 3% mortgages they bought.
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  361. A dirty face diaper not allowing carbon dioxide to properly exit your pie hole is more unhealthy than Covid risk.
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  362. He’s saying the market isn’t pricing how aggressive the Fed is gonna be. 5% federal funds rates would mean 8-10% mortgages. Goodbye housing and any leveraged business at that rate.
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  363. This market is complete fraud held together by record low manipulated interest rates, deficit spending and trillions in money printing. When rates rise zombie and over-leveraged companies are going to be exposed everywhere.
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  364. Exactly. There just aren’t enough non central bank buyers to absorb $3 trillion in mortgages without rates skyrocketing.
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  365. How can any reversal of the Fed actions that created the bubbles NOT pop the bubbles in a dramatic fashion?
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  366. Ayn Rand is spinning in her grave about these proposed wealth taxes. Reminds me of post revolution Dr. Zhivago.
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  367.  @treesnmoguls  True, but price and mortgage interest rate are the top two by far.
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  368. I’m not buying any of it. EVs are just a niche vehicle for the wealthy, woke assholes. Besides, many ICE vehicles are currently nearly impossible to get. I’ve been waiting over 2 months for my Toyota Camry Hybrid to be built.
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  369. The US economy is and has been addicted to near 0% interest rates for over a decade. Fed rate increases are going to crush it.
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  370. @San Diego Mortgage Defaults How you figure? 7% rates and record high prices are going to vastly limit the number of approved buyers. As as job losses accelerate, it will get even worse.
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  371. Investors have been rewarded for buying the dip for 2 years. If the Fed truly does follow through with turning off the money printer and raising rates, the only “bounces” are going to be dead cat ones.
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  372. Gordon is 100% right. EVs are a niche and soon voters will be demanding a repeal of anti-ICE mandates.
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  373. I don’t see avoiding a recession/depression is possible. Rate increases are going to start exposing a ton of zombie companies. Debt is getting expensive, Jobs losses are going to start exacerbating and ripple through the economy.
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  374. Shut up Jim. The Fed (along with congress) has screwed up royally. The Fed should have begun to normalize rates and stop QE in the summer of 2020. Instead they created massive inflation and bubbles that will be very painful once the Fed is finally forced to pop them. The only thing that will let the Fed off the hook is a massive recession/depression that happens before they actually do anything significant. That’s why they have been lying about it for so long.
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