Youtube comments of Jeffrey Marshall (@jeffreymarshall4572).

  1. Our rent has gone up 10-15%/year but our wages have only gone up 2-3%/year. Something has gotta give.
    3600
  2. Hiring based solely on race and gender is NO less bigoted than firing solely based on race and gender.
    905
  3. We’ve been AVERAGING nearly $2 trillion annual deficits since 2008. This is debt Ponzi scheme madness!
    757
  4. Dang, I wish America had leaders as strong as those that lead Israel.
    485
  5. What a train wreck. Harris is the best “worst” example of the Peter Principle in the history of humanity.
    428
  6. So sick of Brandon’s lies. Bragging about “deficit reduction” that only happened due to phase out of one-time Covid largesse and the failure of his BBB boondoggle.
    414
  7. It’s funny how the people who complain that walls and fences don’t work hide behind walls and fences.
    319
  8. Dan, you have a true gift. I never before seen somebody complain about how messed up and corrupt the world is while SIMULTANEOUSLY marveling and appreciating the gifts of nature. Bravo!
    276
  9. Congrats on the 200k! Oh the Fed knows exactly how bad it is. They helped create our current conditions. And the Fed also knows the “cure” to high inflation is going to be a painful recession and bubbles popping. And yes this is going to be much worse than 2008.
    252
  10. Israel should have never changed their doctrine of never negotiating with terrorists.
    250
  11. Why isn’t anyone talking about how this all ends (US debt big picture)? We all know our elected officials have no plans on ever balancing the budget. So what eventually happens? How many years do we have left until there’s either hyperinflation or some sort of biblical default? I just don’t see how this continues much longer without a Sri Lanka moment.
    226
  12. Now everyone knows why Brexit happened.
    222
  13. You would think a company of cartoons, fantasies, and oversized cute animals would stay out of the gender abnormality realm. People don’t consume Disney products and theme parks to get stressed out about people unsure of their gender, they come to Disney to get away from that woke nonsense. Well, at least they used to. Good luck with the changes, Disney.
    206
  14. Wow, I didn’t realize since I get a paycheck everything I buy is free. What a freaking idiot Brandon is. And on that note “Let’s go Brandon!”
    196
  15. Not gonna happen the way it did in post WW2. After WW2, the USA had a virtual global monopoly of world industrial output for several decades. That made it much easier to grow our way out of the problem. That’s just not where the country is today. Sure, high inflation will be part of the current formula just it will be stagflation. Ugly times ahead.
    184
  16. Hearing City of Portland and Port of Portland officials playing hot potato with who actually has jurisdiction over the land is disgusting. All the leaders of those organizations need to be fired.
    176
  17. I never knew Justine was so pragmatic, honest and downright brilliant. Good for her!
    154
  18. I bet if Musk would have personally hired the current Twitter employees, almost none would have been hired in the first placeZ
    136
  19. If the LGBT gang was more like Caitlyn, they would sure be a lot easier to support. Caitlyn is a sadly a rare gem in the LGBT mafia.
    132
  20. Where are these 60,000 people a month even going? Already on the west coast we have only a million homeless and housing prices are out of control.
    130
  21. Totally agree Nick. You forgot to add $3 trillion in mortgage bond purchasing by the Fed. Insane bubble.
    121
  22. Compare and contrast President Trump with Brandon. President Trump can have an intelligent unscripted interview with very tough questions. Brandon gets whisked away be the Easter Bunny for risk of answering a single constituent question.
    119
  23. Why are US taxpayers paying $7500 bribes to people whom will buy EVs? And that’s on top of State and local incentives!
    112
  24. Biden is 100% to blame.
    110
  25. The fact that so many Palestinians around the world support Hamas violence is scary.
    106
  26. The real question about student loans should be why college doesn’t seem to pay off anymore. Better education, better skills should be rewarded with better lifetime earnings. But people take loans to get degrees in gender studies and so much other worthless crap where there are no jobs. The system shouldn’t allow loans for useless degrees.
    105
  27. Israel is such a close and dear ally they are effectively the USA’s 51st State. For Tlaib to be trashing them is despicable - especially when she was completely silent about the Hamas barbarism.
    101
  28. 100% chance of recession this year. These people are like energetic cheerleaders when their team is down 28-0 and their star QB just broke his ankle.
    96
  29. Nice scenery as usual Dan! The $hit is hitting the fan. The fact that Bank of England raised rates again while the ECB is sitting on their hands gives you a little window on why Brexit was necessary.
    90
  30. This was a no brainer. Did anybody really believe getting trillions in “stimulus” money directly from the money printer would turn out any differently? And it’s gonna get a lot worse.
    88
  31. Correct on 2008. Instead of fixing the underlying problems, we doubled down and bought our way out of that recession with stimulus, 0% rates and QE. The same thing with Covid. Now the bill is coming due.
    85
  32. I’m not even Jewish or Israeli but JC inspires such strength and confidence.
    85
  33. If some people didn’t do some thing, maybe Boebert wouldn’t be as concerned about Omar having a backpack.
    83
  34. Nothing is going to make people hate their homes more than realizing they owe more than it’s worth. That’s just around the corner.
    81
  35. We are so screwed. Our politicians will never, ever see times “good enough” to pay down debt.
    80
  36. How does the OMB director not know the debt number? It was everywhere in the news when we passed $30 trillion several weeks ago. Now we’re over $30.1 trillion. She needs to explain why she thinks it’s only $22.3 trillion. Is she excluding the US debt held on the Fed’s balance sheet? Explain the delta you unqualified woke appointee.
    79
  37. When you pick an administration based upon woke check boxes over competency, this is the end result.
    74
  38. Worse, all those local governments and their underwater pensions will spend and commit every dime of those higher tax collections. When home prices inevitably collapse over the next 3 years, those municipalities will be bankrupt unless they can keep the assessments the same. We are setting the stage for a depression 1000x worse than the 1930s depression.
    74
  39. Think of the hundreds of millions spent each year trying to “fix” the problem, yet the problem only grows. That should tell folks a lot about who is running things.
    72
  40. Nearly every time I see a person leaving the driver’s seat of a vehicle that has permanent disability plates in California, the person has no visible disability. Just go park near the handicapped spots at Costco right before they open. All those folks with disability plates head for the doors: no wheelchairs, no canes, no eye patches, no limp, no missing limbs, nothing. Mostly just your typical overweight American. Heading to WALK around in a giant warehouse. It’s disgusting.
    71
  41. Threads is a great movie that depicts how depressing it would be to survive a nuclear apocalypse.
    69
  42. I think Elon has made his point about how corrupt and biased Twitter is. He should abandon his purchase and let the stock collapse.
    67
  43. The Fed should have stopped buying mortgages and treasuries 6 months ago. They are completely distorting the market and creating epic bubbles.
    66
  44. The fact that the Fed hasn’t immediately restored 10% reserve requirements speaks volumes.
    66
  45. Doocy: “how do higher taxes reduce inflation?” Jean-Pierre: “because climate change, racism and equity”
    66
  46.  @slickdiggler1197  Yeah, ugh. All price controls do is make the product unavailable AT ANY PRICE! But why would we expect a US President understand basic economics?
    64
  47. The ceasefire window ended October 6th.
    64
  48. High inflation is bad but not being able to get things at any price is way worse.
    63
  49. Did people really think getting paid stimulus checks, bonus unemployment, PPP and countless other ways to do nothing would be without serious negative consequences? Let’s say you got $5k in stimulus checks and other Covid bailout funds. I guarantee you will pay 10x that amount back in inflation and other nefarious ways.
    62
  50. Pretty telling that we’re more outraged by 200,000 uninvited storming across Ukraines border when 15,000,000 uninvited stormed across ours.
    62
  51. The Fed is tightening, rates are skyrocketing, inflation is raging. It’s not gonna take a very hard push to start the dominoes falling. Netflix is just the beginning…
    61
  52. Maybe we can thank the crazies who chased and filmed Sinema in the bathroom? Don’t cave to bullies!
    61
  53. I’m still confident that when this finally shakes out and homeowners start capitulating, this will be far worse than 2008. The Fed is eyeballs deep and losing fighting inflation, they won’t be able to backstop home prices this time.
    60
  54. This was really good. But also really depressing. It’s scary to think of the pain coming our way after decades of debt, deficits and currency devaluations.
    59
  55. Hiring some based on their race and gender only is no different than firing someone on their race and gender only.
    57
  56. The Fed is only at 0.75% when inflation is 8.3%. Rates are going A LOT higher. And who is going to buy those $3 trillion in mortgage bonds?
    57
  57. What an idiot. Just because I have the revenue to pay for something doesn’t make it free. SMDH Let’s Go Brandon!!
    56
  58. In the last 40 years, taxes have been $32,000,000,000,000.00 short of spending. Let that sink in and what it means for the future.
    54
  59. I’m glad the great Peter Schiff is getting some quality airtime on the nation’s top rated show.
    53
  60. “Let’s go Brandon!” conjures up the same American spirit and courage that the tragic and inspirational “Let’s Roll!” conjured up in 2001. Push back against government tyranny and overreach! Let’s go Brandon!
    52
  61. Seattle and San Francisco are two of the most naturally beautiful cities in the world. Both ruined by liberal policies and politicians.
    52
  62. No way home prices hold up. Rate hikes and QT will bring them down hard.
    51
  63. We’ve been on a money printing and record deficit spending binge. The way to fix the supply chain issues is to suck all that accommodation back out of the economy. Fed needs to unload its $9 trillion balance sheet. Congress needs to pay off their $30 trillion in debt. I guarantee you there would no longer be supply of inflation issues.
    51
  64. There are many economic analyses that say without QE and massive deficit spending to prop up the false economy over the last decade or so, we would still be in the GFC Great Recession. That just tells me when the artificial support finally loses its ability to kick real problems down the road, the collapse will be biblical.
    51
  65. Why isn’t the Fed immediately restoring the 10% reserve ratio and forcing banks to properly value their assets? Their inaction tells me banks are in worse shape than they are letting on.
    50
  66. 38% anticipated increase in medical costs? That’s insane. Where’s the money going to come from? And we’re already bankrupt.
    50
  67. When interest rates aren’t manipulated, they act as stop lights to inflation, asset bubbles and market excesses.
    50
  68. Foreclosures are probably 6-12 months down the road. 1. Eviction/foreclosure moratoriums end 2. Fed stops buying MBS 3. Houses hit market. 4. House prices start falling 5. Falling prices eventually wipe out equity 6. Foreclosures begin 7. Interest rates rise 8. Home prices drop further 9. More and more people choose to abandon their homes
    49
  69. Every time you fill your tank for $80 instead of $40 that amounts to one less $40 trip to Target, Walmart, Bath and Body Works or Sephora. And high gas prices are supposed to stay high for years.
    47
  70. Don’t forget, student loan payments are scheduled to resume in a few weeks. That’s gonna suck a lot of disposable income out of the system. That being said, I bet many still won’t pay their loans in the hope there’s more forgiveness.
    47
  71. Is anyone surprised The Fed has only had one tiny hike to 0.25% and hasn’t even begun to unload their balance sheet and the wheels are already falling off?
    46
  72. I can’t get enough of Jonathan Conricus. Dude is a rock of integrity, eloquence and confidence. I wish the USA had guys like him!
    45
  73. Nick is right and you are wrong. For the last dozen or so years, artificially low rates and trillions in mortgage bond purchasing created the biggest housing bubble in history. If the Fed truly does follow through in fighting inflation, home prices will be down at least 30-50% in 2 years.
    45
  74. Remember folks, anything you buy that you have the money for is “free.” Let’s go Brandon!
    45
  75. How did they take out a tank?
    44
  76. If the free market was in play, no way banks would make loans for less than inflation. That suggests 10% mortgages and car loans. The Fed interfered greatly by buying up mortgages and adding tons of liquidity. That’s now going away…
    44
  77. I’m really worried this crash will be far worse than the 2007-2012 crash. The Fed is currently fighting inflation and will be trying to unload its $9 trillion balance sheet. Plus the Federal budget debt and deficit is more than unsustainable. This crash might have to fix itself.
    44
  78. We need a balanced budget amendment. Make them do their jobs and prioritize.
    44
  79. This was genghis khan level medieval brutality.
    43
  80. In all the wars in world history, how many times have enemy tanks escorted their opponents civilians to safety?
    43
  81. Once prices start to fall, it’s gonna quickly turn into a housing rout as folks race to cash out their equity before it’s gone.
    42
  82. While the ports and truckers are in complete gridlock, Brandon’s transportation secretary is on leave playing family time with his husband. That speaks volumes of the commitment of this administration.
    42
  83. The 2008 recession was never allowed to run its course. Instead, the country embarked on an unsustainable $2 trillion/year deficit spending campaign ever since. DOGE is turning down that faucet. This is gonna be a doozy recession/depression.
    41
  84. The US doesn’t make much anymore. But the good news is we print a lot of money to make up for it. What could possibly go wrong?
    41
  85. When somebody as a smart as Dimon says he scared as hell about the unknowns of QT, we all should be worried.
    41
  86. I remember one time telling a woman “guys don’t care about your expensive bag/purse,” and was immediately corrected with a “we don’t do it for the guys, we do it as a status symbol against other women.” Boy I got put in my place.
    40
  87. Rates need to be higher than inflation to curb inflation. Let’s see if the Fed has the guts to do it.
    40
  88. A Christmas without silly plastic meaningless gifts from China would be one of the best ever! Just look how happy Whoville was after Grinch took all the material crap!
    40
  89. I just don’t see how home prices don’t collapse. The bubble was created by trillions in stimulus, trillions in money printing, record low interest rates and trillions in Fed mortgage purchases. If they Fed gets out of the way and normalizes policies, home prices are going to crater. We’re only one rate hike into a series of a half dozen or so, let’s see how long before the cracks are obvious…
    40
  90. Biden: “How we gonna reduce pressure on inflation?” Um, balance a budget you fool!
    40
  91. Dan, great stuff as always. Love how you flip back and forth between “the world is collapsing” and “ain’t the earth beautiful?”
    39
  92. Inflation is 9.1%. Interest rates need to go much much higher.
    39
  93. We live in an era of zero personal accountability. If people don’t think they have to pay their student loans, why would they think they would get foreclosed if they don’t pay their mortgage? When the job losses hemorrhage and economy contracts, these people will demand foreclosure moratoriums.
    39
  94. Home prices are completely messed up due to Fed manipulation. Real interest rates shouldn’t be negative as they are today. In a normal functioning economy, interest rates work as stop lights to keep asset bubbles in check. But artificially low interest rates have forced investors to look elsewhere for yield - like HOUSING! Bring real interest rates back to a positive number and watch investors shed housing.
    39
  95. People are crazy. These are the same kind of people that demanded cops be defunded.
    39
  96. “2 weeks to flatten the curve” “The Fed targets 2% inflation” Sigh.
    38
  97. We shouldn’t need a debt ceiling. We should be able to trust the government will regularly balance a budget.
    38
  98. For decades, oil changes were $20-$30. Now they won’t even advertise the price. They only tell you the “discount.” The discount might be $15 but the oil change is now $69.95. I suspect more people are stretching the miles between oil changes.
    38
  99.  @thetruthchannel349  Well, then who is going to deal with Biden? He picked his VP and his Supreme Court nominee based on their race and gender. He told us this under no uncertain terms.
    38
  100. So if prices just return to pre-Covid madness levels, that measly 16% down payment equity goes to what, a 30% underwater liability? This is going to be catastrophic.
    38
  101. This is all coming to a country near you. When it happens in the bigger countries, the IMF won’t be able to help.
    37
  102. Housing bubbles usually end with exotic mortgages. The rise of 40 year and ARMs are huge red flags. Even so, on a $400k mortgage, the price went up $500/mo going from 3% to 5%. A 40 year mortgage only knocks off $200 of that $500. The collapse is near…
    37
  103. Starting this month, the Fed is going to start to unload its $9 trillion in US debt and mortgage bonds. I’m curious how that’s going to affect rates but I’m certain it won’t be good for home prices.
    36
  104. A lot of people paid full sticker or sticker plus for cars in the last few years. Gonna get ugly.
    36
  105. Somebody just told me banks are now approving loans with mortgage payments up to 50% of gross income. Once the job losses happen, these folks are all gonna be overextended and 2008 all over again.
    36
  106. You can’t shut down production of goods and services and replace it with money printing without creating massive inflation.
    36
  107. So when home prices go down 50% in the next couple of years, Drake will be upside down by $20 million on that one property alone?
    35
  108. When they passed the first trillions in “stimulus” package back in Spring 2020, I knew this was going to blow prices on everything through the roof. So I bought a brand new Honda in April 2020 for $5500 under MSRP. Now, even after a year and a half of use, that car is worth more than MSRP. Although I should have bought a few houses in April 2020 as well.
    35
  109. 10 year yields are skyrocketing. At 2.4% now which suggests mortgages gonna be above 4.5%+. I predict these rates are going to start to kill a lot of housing deals. If sellers need to sell, they are going to have to start lowering the prices. We’ll see…
    35
  110. The housing crash is going to be far worse than 2008.
    35
  111. Tablet magazine reports that many of the women executed at the festival were raped “next to their friends’ bodies, dead bodies” before being killed. Some of those who survived were kidnapped and seen “paraded through the city’s streets” in Gaza by their captors, “blood gushing from between their legs,” Tablet reported.
    34
  112. This video is exhibit A for Brexit. And it’s obvious the UK still ended up with far too many of these Muslim extremists.
    34
  113. $30 trillion in debt, and $125 trillion in unfunded promises with only about 100 million taxpayers to service this debt. The only thing keeping this Ponzi scheme afloat is reserve currency status that allows unlimited debt and unfettered use of the money printer.
    34
  114. Munger is a genius and truly gets it. His uncensored un-woke brilliant mind will sorely be missed someday.
    34
  115. Interesting. I don’t recall there being many fights between German nationals and Jews after seeing Schindler’s List.
    34
  116. “I don’t even want the house I can’t afford” Let’s go Brandon!
    32
  117. 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.
    32
  118.  @thetruthchannel349  Not on hiring. The laws should apply both ways.
    32
  119. The “problem” could be solved overnight. Mandatory homeless relocation to Quonset hut style housing with strict rules, goals and smart treatment. Of course the homeless and their advocates would complain like stuck pigs but they are welcome to go whenever they can provide housing for themselves.
    32
  120. Crap, Jill, why not just call them “bean eaters.”
    31
  121. I think the reason there are so many retail vacancies in the wealthy areas you generally go to is because the economics just doesn’t pencil out. I think there was a time where many of the wealthy areas retail jobs where held by kids of the locals. Today, There’s no kids to speak of in those areas. Too expensive to raise a family there. And no one could possibly afford rent in those areas on retail wages. So they must raise wages and try to hire from far away. Why would anyone commute for an hour to a $15/hour job? So they get few workers. And the prices they charge to cover higher labor costs scare customers away. So they close. It’s a terrible death spiral.
    30
  122. Nick is spot on and he has solid data and his analyses are sound. The housing market has lots of momentum and there’s ton of variables for and against home prices. One of the biggest is interest rates, and they are going up. Plus, the Fed has stopped buying MBS, putting even more pressure for the private sector to fill that void.
    30
  123. The Fed owns $3 trillion in mortgages that they’ve just started unloading. The Fed could care less if these loans go toxic. The same can’t be said for banks and other mortgage lenders. Expect rates to rise significantly and additional underwriting scrutiny. This is just getting started.
    30
  124. Homeless, high crime and high prices could be said about the entire west coast. Portland is on track to break their all time record for homicides. Seattle is bad too. Other cities in the west like Boise, SLC and Austin are clearly in bubble territory.
    30
  125. Until EVs are just as convenient and cheap as ICE vehicles, they will never work for the masses. I suspect at some point voters will demand a reversal of the 100% EV mandates, allowing new ICE vehicles be made.
    29
  126. Almost every variable I can think of is negative for home price. Higher Rates, end of money printing, slowing economy, end of stimulus, reducing deficit spending, and so many more and very negative for home prices.
    29
  127. There’s really only three end game scenarios and two of the options will never happen: 1) significant austerity and 2) general default. That leaves 3) hyperinflation since we have a money printer of last resort. This is gonna be far, far worse than the Great Depression.
    29
  128. My wife manages a JoAnn fabrics in Oregon. Corporate made her fire a really good 15 year employee for following a thief outside and telling them to pay for the merchandise they just walked out the door with.
    29
  129. Q: Why would banks make mortgages losing 4% a year on the deal (Mortgage rates at 3% where inflation is 7%)? A: Normally they wouldn’t but the Fed has been buying $40 billion per month off their books for two years (so the banks only do it for the fees the loans generate). That’s all ending in a few months. Expect rates to skyrocket. Elon Musk is right. A recession is coming soon. And, combined with all the other madness, it could easily be the worst one we’ve ever had in our history.
    28
  130. And maybe people should be limited to own 2 homes maximum. Also limit or exclude foreigners from buying US homes.
    28
  131. If Kenosha officials actually tried to defend their city and let law enforcement and first responders do their jobs, then Kyle and others wouldn’t have been in their stead.
    28
  132. If the Fed truly does what they are saying by drastically raising interest rates and unloading their balance sheet I expect home prices will be 50% lower in 2 years.
    27
  133. We have perfect storm scenario of a housing $hit show coming. 1. Foreclosures spiking 2. Fed unloading their trillions in mortgages 3. Job losses accelerating 4. Rates rising 5. Debt at record highs 6. Student loan payment resumption 7. High Inflation is going to hamstring Fed assistance/bailout 8. US gov’t record debt
    27
  134. This should come as no surprise. Inflation is squeezing consumers discretionary income. Luxury extras like Netflix and Peloton will be the first to go. What’s next? Restaurants? Cable? It’s only just starting.
    27
  135. Inflation and product outages are a lagging indicator. The Fed (and massive deficit spending) bought us artificial prosperity and asset wealth (stocks, housing, etc.) with their money printing to buy assets. Now that inflation is here, they are trapped. Take back that wealth by reversing policies or let inflation and product outages get worse and worse.
    27
  136. 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
  137. 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.
    27
  138. The US has tacked on about $20T in added debt just since the great financial crisis in 2008. $20T is the equivalent of 20,000 billionaires created by saddling future/younger taxpayers with that additional debt.
    27
  139. If we wanted to see just how insidious this giant Ponzi Scheme, just make the Feds balance the budget. Not every year, just one year. The whole thing would unravel…
    26
  140. Schiff speaks such common sense. Why doesn’t 99% of America see the obvious? Are we really that gullible as a Nation?
    26
  141. The government needs to learn to live within its means.
    26
  142. “I want to help those who help themselves.” This is a great JFK-type “Ask not..” statement by Joe Manchin. Love that guy.
    26
  143. Love how VDH deliberately pronounces Kackles name wrong. Funny stuff.
    26
  144. Remember student loan debt includes room, board and spending money. So “forgiving” student loans means we paid all their living expenses and beer money for half a decade as well. Horrible policy.
    25
  145. 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.
    25
  146. $31 trillion debt times 3.3% 10 year treasury yield = >$1 trillion per year in debt service. So the first $1 trillion the government receives in tax revenue goes to pay for past sins. As debt and rates continue to explode, it won’t take long before every tax dollar goes to pay for past sins. Our future is screwed…
    25
  147. Dan: The Fed Ponzi Scheme gonna bring on a epic collap….hey look, aren’t those turtles adorable!
    25
  148. Once home prices start falling, they will keep falling for a decade in most areas.
    25
  149. You make a good point about the current “rewarding deadbeats” mentality in the US. I honestly think some of these people who are paying too much for houses think they will “bailed out” when the market crashes.
    25
  150. More like the Fed needs to be indicted.
    24
  151. How can you not expect home prices drop 50% or more? If the Fed is truly committed to 2% inflation that’s going to take many more rate hikes. It took about 2 months to go from 3% to 5.5% so I don’t see 10% mortgages out of the question. Besides, the whole system is interconnected and built on a house of cards. Once one area of the economy flounders, it will be a ripple effect. Homes are usually last to start falling and last to hit rock bottom.
    23
  152. 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
  153. We’ve been in a recession since 1/1/2022. That will be confirmed in a few weeks.
    23
  154. Funny you mentioned the shoe shine boy story. Wife and I were having dinner a couple days ago and the waiter was talking up crypto and all I could think of was the Joe Kennedy quote.
    22
  155. I’ve been saying since the GFC that our next recession will be our last recession. As in lights out, game over.
    22
  156. I see no difference between terminating a child in the womb versus terminating a child in the crib.
    22
  157. Peter Schiff is right. Most of the trillions and trillions in debt and money printing is still locked up in financial assets and housing. Once those funds are unlocked and start chasing everyday items like fuel, food, etc., hyperinflation is guaranteed.
    22
  158. Without the money printing and massive deficit spending since the GFC we would still be in the GFC. All we’ve done is made the next financial crisis much much worse.
    22
  159. Dissenting viewpoints is healthy, but Tlaib’s anti-Semitic and anti-American ally rhetoric is disgusting to say the least. Especially after all the scuttlebut about some of President Trump’s comments.
    22
  160. The Fed should normalized rates and stopped buying MBS back in summer 2020. But instead they accumulated $3 trillion in MBS and kept rates at 0% almost 2 years too long. This has created the biggest housing bubble in history.
    22
  161.  @MHFIN  Obviously, it’s impossible to predict human behavior and home ownership is certainly in a frenzy currently. However, home ownership could easily go from being a coveted asset to a burden. I think home and other asset prices have been propped up by Fed mistakes and all the stimulus spending. The Fed should have stopped buying mortgages and begun to normalize rates in the Summer 2020, once they realized the massive bubble they were creating. We’re now only 0.25% into a series of Fed rate hikes, with 6 or 7 more coming. Student loan payments are resuming next month and inflation is killing folks disposable income. It won’t take many homeowners wanting to cash in their equity before prices start collapsing. I think once home prices start to fall, it could quickly turn into a panic driven rout. Greed is keeping things in tact at the moment…
    22
  162. Peter Schiff gets it. He preaches time tested Austrian Economics principles. This is the economics I learned in college in the 80s. Buy physical precious metals and ammo.
    22
  163. I am hoping and praying Ukrainian snipers and fighters are continuing to backfill into the city. Turn this into Stalingrad.
    22
  164. No more money printing, rate hikes, no more stimulus checks, public and private debt at record highs, moratoriums ending, $90 oil, student loan payments resuming, people buried in record home and car loans, economy slowing…
    22
  165. You speak the truth. If some are unsubscribing your excellent data and content, then they are scared of the truth. I suspect these are realtors, mortgage brokers and others who have a financial interest that the bubble continues to expand.
    22
  166. The only thing keeping the market afloat is panic buying and high inflation. That panic buying is about to pivot to panic selling. And the Fed is only one rate hike into 7 or 8 total hikes over the next year or two. When mortgage rates are 6-7%, middle income earners won’t be approved at current prices. Fewer qualified buyers = lower home prices.
    22
  167. I see Nancy made a photo op trip to Ukraine. I wonder how many times she’s visited all the homeless camps a few blocks from her gated mansion?
    21
  168. 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
  169. Any reasonable minded non corrupt economist would tell you deficit spending will cause inflation.
    21
  170. We’re running out of road for the can. Once banks can’t dump their mortgage loans onto the Fed, game over.
    21
  171. That is to be expected when you pick your team by how many “woke” boxes they check over competency.
    21
  172. Dan is so good, he makes Armageddon seem ok. He needs a side gig at watch tower.
    21
  173. Some economic analyses have shown that without deficit spending and QE, we would still be in the Great Recession. So, in essence, things are just as bad now as the Great Recession, only worse cause we’ve added $20 trillion onto the Uncle Sam credit card, and $9 trillion in money printing. We can’t pay the debt and the money printing is causing high inflation. We got 3 years max before this all blows up.
    21
  174. Huge day for the 1st Amendment!
    21
  175. We need to start seeing some charts with countries with the lowest public debt per capita. The US has been robbing trillions of wealth from future years for a long time now. The future is here and the taxes necessary to pay for it will devastating.
    21
  176. The Fed can either choose jobs and high inflation OR high jobless and lower inflation. Or more likely they split the difference = stagflation.
    21
  177. Cute seals! At least they don’t have to worry about inflation and the impending economic collapse.
    21
  178. The US was only able to water down the post WW2 high debt to GDP due to a virtual world monopoly on industrial output for a couple decades which caused unprecedented GDP growth. The US is NOT on that same productive perch today. We’re screwed.
    20
  179. That 1-seater death trap on California highways? Not a chance.
    20
  180. 10 year yield at a 3 year high and rising fast. That means 4-4.5% mortgages. That means home and stock prices gonna start crumbling. That means job losses. Buckle up!
    20
  181. The supply chain issues are just a natural consequence of giving people money for not producing anything. There is no free lunch. Decades high inflation and product shortages are the price of that “stimulus.”
    20
  182. Can you even imagine how bad the economy would be without $2 trillion/year in annual deficits in a post pandemic full employment environment?
    20
  183. Between high inflation, dollar devaluation, and shipping delays, expect US trading partners to start raising prices even more to compensate. And that’s not the worst thing, sooner or later they will stop accepting dollars altogether.
    20
  184. The Fed has two choices: save the wealthy or save the poor and middle class. Which group do you think they will choose to help? Hint: the Fed is still printing money and still has the rates they control at 0%.
    19
  185. If you want to know how bad things really are, allow interest rates to be market based, run a balanced budget and force the Fed to liquidate its balance sheet.
    19
  186. Never underestimate how long those in charge can keep this Ponzi Scheme going.
    19
  187. Friendly warning for those who may be tempted to claim they didn’t get a stimulus check but did: it will delay your refund and the IRS has an easy way to confirm you received them.
    19
  188. Jonathan Conricus is top shelf.
    19
  189. The fact that Brandon is getting help from word salad cackles shows you how much respect the Saudis have for him.
    19
  190. Higher interest rates are already doing the trick. They’ve nearly doubled in a few months. Just give it a little time. But yeah, job losses will make it even worse.
    19
  191. Those people are on food stamps so they don’t care. Frequently I see food stamp recipients buying bottled water only to dump out the water in the parking lot so they can turn in the empty bottles for the deposit cash.
    18
  192. We’re screwed. It was Fed monetary policy and Government fiscal policies that created this mess. Now we have $30 trillion we can’t possibly pay back and negative real interest rates. We are looking at imminent catastrophic pain whether we deal with these issues actively or passively.
    18
  193. Why pay for high end retail when you can just join a gang of thugs and take what you want?
    18
  194. Covid is over. Why aren’t we back to pre-Covid spending levels?
    18
  195. Solid analysis as always Nick. In economics jargon it’s known as “opportunity cost.” Why accept a 4% return on a risky housing asset when the “risk free” rate is almost that much and poised to go much higher? Can you imagine if the Fed had the guts to do what Volcker did to stop inflation?
    18
  196. The Fed acting as the straw man buyer of last resort of US debt is what distorted rates that caused the mess we’re in. God help us if/when the Fed starts QE again as that will lead to hyperinflation.
    18
  197. Wow Dan such beautiful places. I’m in Oregon and whenever I visit California I mostly seem homeless and filth. Glad to know there are some pockets of commerce and decadence left!
    18
  198. Since the country won’t ever get its financial house in order the dollar is toast. So continue to expect inflation, product outages/shortage, and other stores of wealth to increase in value.
    18
  199. As disgusted as I am about another bailout, I think I know why the government did it: the banking system is in much worse shape than they will admit. If all the people with over $250k in deposits were to really worry they could lose their funds, this could cause mass withdrawals and reallocation of financial assets. That’s exactly why SVB is the canary in the coal mine and that bird’s life had to be saved at all costs. Real interest are still negative and the Fed balance sheet has only gone from $9 trillion to $8.3 trillion - and things are already breaking. This should be very scary to anyone paying attention.
    18
  200. “Good hotels, you know, the ones that are not a degenerate festival…” “So Captain Speedo joins his romantic AirBnB guests in the jacuzzi” - Dan on a roll in February 2022 Epik funny stuff
    18
  201. Deficit spending and Fed money printing works till it doesn’t. And when it doesn’t, God help us.
    18
  202. With the Fed ending buying up mortgages and treasuries this Spring, rates are guaranteed to rise for everything - including mortgages. And that’s before the Fed starts raising rates. I wouldn’t be surprised if homes were 50% cheaper by 2023.
    17
  203. They are so consistently incompetent you might think it’s on purpose.
    17
  204. Lived in ORegon all my life and avoid portland like the plague. Totally disgusting now. Used to be a nice city,
    17
  205. Exactly! Not just the stock market but the whole US economy. We’ve been AVERAGING $2 trillion annual deficits since 2008. That GFC never ended, we just masked it over with massive deficit spending.
    17
  206. When this war is over, I’m gonna go to Odessa, Lviv, Kiev, and Mariupol and hug and congratulate every Ukrainian I see.
    17
  207. Keeping rates artificially at record lows, and for far too long, combined with $3 trillion in Fed mortgage purchases fueled the current home bubble. Reversing these policies, as they started to do in spring 2022, will naturally pop it. This is going to be far worse than 2008 because this time the Fed can’t reverse course because its hands are tied fighting inflation.
    17
  208. Build Back Better implies you have to trash everything first. Brandon is well on his way on that part at least.
    17
  209. The hasn’t even begun to unload its $9 trillion balance sheet.
    16
  210. People have been conditioned to buy the dips for the last 2 years. They are in for a rude awakening.
    16
  211. We are so toast as a country.
    16
  212. It’s gonna take time. Rates have only been up a few months. Layoffs just beginning. Fed just starting unloading mortgages…
    16
  213. We’re projected to have over $50T of debt by just the end of the decade. $50T x 5% = $2.5T/year in interest alone. And that doesn’t even address the $200T shortfall in Soc Sec and Medicare. This doesn’t end well.
    16
  214. Hi Dan! Great video as always! Not to be a stickler but mortgage interest rates are up 70% or 2+ points, not 2%.
    16
  215. @UCFYEkhdpXgHKxKwXJKIqIDQ After having a desk job for decades with bullshit fake office politics, I found “lifting boxes” to be highly gratifying!
    16
  216. 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
  217. When coworkers started announcing their preferred pronouns on their email signature, I knew it was time to retire.
    15
  218. If the Fed cared about inflation they would consistently keep real interest rates positive. What other time(s) in history have real interest rates been negative for this long?
    15
  219. The Fed should have turned off the money printer a year ago. And we should already be 1-2 rate hikes into normalization. Fed slow play is just going to make the market collapse much much more painful and devastating.
    15
  220. So far, the Fed has done nothing but talk. They’ve turned the speed on the money printer from 10 to 9. No changes in rates yet.
    15
  221. Hey Nick, you have any data on bankruptcies? I bet those are going to start ticking up soon.
    15
  222. Absolutely negative rates were/are a complete failure. The whole point of market based interest rates (and rates higher than inflation) is to work as stop lights to keep asset bubbles from forming. It is going to be immensely painful to unwind all these bubbles.
    15
  223. 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
  224. The Fed slow playing rate increases is unfair to current folks buying who are taking out a loan to get a house. Just immediately raise mortgage rates to 11% and get the price corrections over with so people don’t get upside down and burned.
    15
  225. Peaking inflation? That’s because the Fed is going to remove the fuel. Which is eventually going to be brutal for earnings.
    15
  226. Nick, isn’t the Fed supposed to crank up their selling of MBS and treasuries this month?
    15
  227. The scary thing is the housing market hasn’t been “normalized” since the 90s. Post 9/11 ultra accommodative policy, they tried to normalize in the mid-2000s by allowing rates to rise and that largely helped create the GFC. They tried to raise rates and end QE in about 2018 and the same result started to occur so they reversed course. Then Covid and even more accommodative policy. The Fed is out of ammunition and has blown a stock and housing bubble of biblical proportions.
    15
  228. The problem with home price declines is once they start declining it will take years and years for them to bottom out. If rates are at 4.3% now, what will they be after 7 more planned increases over the next 2 years?
    15
  229. I’ve never been so proud of a Democrat since JFK. Bravo the real Joe.
    15
  230. This was all predicted in the “Captain Pike” episode of Star Trek.
    15
  231. I get so annoyed with our politicians and government officials continuing to lie to us about inflation. Anybody who has taken a High School economics class knows the prices are determined by the intersection of supply and demand. Any external “shocks” to that equilibrium will cause prices to change. Over the last several years, we’ve had supply shocks from shutdowns causing prices to rise. Plus, we’ve have demand shocks from trillions of money printing and deficit spending also causing prices to rise. This is all pretty simple basics economics yet Biden and his administration continue to lie to us.
    15
  232. Sure, it sucks for some to have a kid you don’t want, but is killing it the right answer?
    14
  233. Can you even imagine how high rates would be if the Fed had to unload their $9 trillion balance sheet?
    14
  234. Only one end game to this madness: hyperinflation. And it’s closer than most realize.
    14
  235. There are three main factors that determine home prices: mortgage interest rates, stable jobs/incomes, and people’s savings. These were all artificially made ultra favorable during Covid and are now going away. It’s a House of cards (pun intended).
    14
  236. I don’t understand why 100% of the seniors on social security and Medicare, those on disability payments, those on pensions, those on annuities don’t 100% demand and vote for candidates to balance the budget and pay down the debt. All their checks are going to start bouncing real soon…
    14
  237. I totally believe this. We’re mostly renters in concentrated housing with very limited parking and little room for dedicated EV charging stations. Obviously, EVs just don’t work in these situations.
    14
  238. The biggest worry few are talking about is the Saudis possibly ending the US dollar as the petroleum currency. That would be a catastrophic change that would ultimately result in a significant reduction in American’s quality of life.
    14
  239. So prescient our last President was. And just think how much it’s changed in just 10 months? We have 38 more months of this train wreck administration!
    14
  240. 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
  241.  @FREEDOM_OR_DEATH_  Stimulus checks and other wasteful spending is what has made things unaffordable.
    14
  242. 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
  243. Who knows, but I just don’t see the Fed having the guts to completely turn off the money printer let alone raise interest rates. The Fed hedged their bet saying if any metric went sideways, they would reverse course. Well, of course there’s gonna be negative consequences of ending a $120 billion/month straw man buyer of treasuries and mortgages.
    14
  244. Peter Schiff is one of the few economics minds who gets it and speaks the truth.
    13
  245. What’s sad is in the US, stopping fossil fuel energy production is more important than harming Russia’s war machine.
    13
  246. That looks miserable even with good weather.
    13
  247. Take the money out, get jugged by thugs. Leave the money in, get jugged by inflation that far exceeds interest. Either way, the money is gone.
    13
  248. 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
  249. Yellen and Powell CREATED this nasty mess we’re in.
    13
  250. Since the USA has a money printer, it will never default per se. Hyperinflation will occur instead. And it’s not that far away if we don’t get our budget mess in order.
    13
  251.  @dogpoofairy2517  Sure Trump had a lot of turnover but that was because he had super high expectations and wanted not only the best and brightest, but the hardest workers as well.
    13
  252. The guy was completely wrong about QT. QT will put UPWARD pressure on bond yields.
    13
  253. Of course sales in nominal dollars will be higher. Real inflation as historically measured is 10-15%. So on a real basis, sales are down.
    13
  254. Nick, you are 100% spot on. The positive thing is how few understand this basic fact.
    13
  255. Mortgage rates gonna be 5.5% in a couple days. That’s early 2000s rates.
    13
  256. I wonder if there will ever be a year in my lifetime where US debt doesn’t increase?
    13
  257. Elect a weak and inept US President, this is a pretty predictable result.
    13
  258.  @alexaber9786  It’s a much different world today where nobody takes responsibility for anything. Liberal cities burned for six months because some idiot cop botched an arrest. There weren’t mass school shootings once a year back then. People were poor and desperate but that vast majority were law abiding and just looking for work. Today we look the other way when mass lootings and house squatting take place. So no, I don’t expect people to be orderly this time around when their wealth disappears and they have little food or water. Government spending projects won’t help because too much government spending created the mess we’re in today.
    13
  259. Ditto. Many of us are just like that.
    13
  260. I love that VDH never pronounces her name correctly. It’s gotta be on purpose.
    13
  261. @Kevin Schmidt …Fed taper, mortgage foreclosure moratorium ending, stimulus ending, bonus unemployment ending, Covid bonus and hazard pay ending…we could go on all day ;-)
    13
  262. Inflation won’t subside until we enter a nasty recession.
    12
  263. Monetary and fiscal policies temporarily “bought” our way out of the troughs of the last housing crash. Monetary: record low interest rates, and $9 trillion in Fed purchases of mortgages and US debt Fiscal: $15-$20 trillion in added US debt This is not sustainable! And many of these tools will be unavailable during the next crash.
    12
  264. Car sales are only bad because there are very few cars to buy. There’s usually 4 million in dealer lots, today it’s less than 1 million.
    12
  265. US deficits and debt is gonna eventually be a huge drag on the market. Probably sooner rather than later.
    12
  266. There better be clawbacks from all the banking executives who sold stock in the last few weeks.
    12
  267. 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
  268. Dude still has thousands of homes to unload. Of course he’s gonna say the housing market is on solid footing. Watch what they do, not what they say.
    12
  269. Biden: “Putin’s Baby Formula Embargo!”
    12
  270. Even if the Feds kick in $12k per vehicle, Rivian’s valuation is insane.
    12
  271. At 6% inflation, real interest rates are still negative. Until real rates are solidly in the positive category, inflation will stay high.
    12
  272. 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
  273. It’s gonna happen with 100% certainty.
    12
  274. 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
  275. 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
  276. It wasn’t that long ago that the front 1/3rd of Best Buy was their massive displays of DVDs and CDs. Now they just have big TVs sitting on the floor in those areas.
    11
  277. Libertarian
    11
  278. Peter said he preferred cutting spending.
    11
  279.  @ljacobs357  They weren’t liberal when they were well run.
    11
  280. On the news, US consumer debt just reached a new record at $15.6 trillion. Like you said, at some level of debt the shit hits the fan. 7 rate hikes in 2022 might help start the waves of bankruptcies.
    11
  281. This recession is going to be way worse than 2008. This time we have triple the debt, and inflation is near record highs. Because of that, congress and the Fed have little ammo to buy us out of recession this time.
    11
  282. The employees are not doing a thing about shoplifting because they will get fired if they do. It presents more of a financial risk to the companies to encounter the shoplifter.
    11
  283. You really think there will be a bounce at 11k? A Fed continued tightening environment will push nasdaq even lower
    11
  284. I haven’t heard much lately about what’s going on with the rent and foreclosure moratoriums ending? Are those units hitting the market?
    11
  285. I do think hyperinflation is eventually coming but it’s still a few years away.
    11
  286. Insurance is pretty simple. Premiums = claims plus expenses. Problem is some places have lots of claims and fraud.
    11
  287. We’ve spent the last dozen or so years printing trillions of dollars and accumulating massive amounts of public debt to buy and pull forward artificial prosperity. The bill is coming due.
    11
  288.  @tomroe7715  No doubt bussing them to purple cities to turn them blue.
    11
  289. I feel bad for those pounce when prices are down 20%. Because prices are going to eventually be down 50-70%.
    11
  290. He doesn’t seem very skilled to the reasonably intelligent. Failure of his $3 trillion BBB boondoggle and lapse of trillions of one-time Covid trillions: “See, I’m a deficit hawk” Sigh.
    11
  291. We haven’t seen any real “pain” yet. There will be a time in the not too distant future where shelves will be empty across the board.
    11
  292. It’s equally repulsive and despicable hiring someone solely on their race/gender than firing someone solely on their race/gender.
    11
  293. Or, much more likely, we need a 40% reduction in house prices.
    11
  294. 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
  295. Massive deficit spending is the only thing keeping the economy going. Problem is, there is a mathematical ceiling that’s much more important than an administrative ceiling.
    11
  296. Did anybody really think that Fed printing $9 trillion and the government paying people not to work would turn out any different?
    10
  297. One of the things I hate the most about Wars is they set the stage for even more Wars.
    10
  298. I agree 100%. I wouldn’t touch a home for anything more than what the home was worth in 2019.
    10
  299.  @haihengh  So is that the answer? We just pray the hyperinflation or default doesn’t happen while we’re alive? Thanks a scary thought to ponder but I think you’re right. Even corrupt officials like Powell and Yellen admit our deficits are unsustainable but they won’t actually say what that means and how this plays out or about how much time we have left. It would seem to me there are mathematical feasibility limits to how high debt can get before things implode.
    10
  300.  @mariesbudgets8814  Where does it end? If you think you deserve social security, then why not Medicare too? Do you want national security too? How about national parks? The problem is we’re broke and already spent all our future prosperity so we cannot afford any of it. I hope those stimulus checks were worth it. People are going to regret not electing politicians committed to balancing the budget.
    10
  301. It took 5 years for prices to bottom out 2007-2012, and they only recovered due to massive support from congress and the Fed. It might even be longer this time before prices finally bottom out.
    10
  302. As much as I want to feel sorry for these people I just can’t. Its like feeling sorry for all the Germans who lived next to the death camps.
    10
  303. 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
  304. Why do I know Mr. Schiff tells the truth? Why? Because he tells the same story EVERY time! This is all basic stuff as predicted by basic mathematical principles and tried and tested Austrian economics.
    10
  305. Fed (and deficit spending) intervention has distorted market risk to be artificially low. Markets are now being repriced for actual risk and fundamentals.
    10
  306. Can you even imagine what would happen to asset prices if the Fed unloaded its $9 trillion balance sheet onto the free market? Rates would go through the roof!
    10
  307. I wish every time a politician wanted to spend money, he had to say what he is cutting or taxing to pay for it. There would be a lot less support if that were the case. Instead, we’re just mortgaging our future.
    10
  308. The more I think about it, the more I think this crash is going to be much, much worse than 2008.
    10
  309. Funny. Yeah I like Scott but his intro is a little long.
    10
  310. Cackles barking at Israel to reduce civilian casualties is pathetic. Maybe she should volunteer to go door to door in Gaza asking if there are any Hamas there?
    10
  311. Easy solution. Mandatory relocation to a military barracks type camp with strict rules and goals. Most homeless will hate the rules and sobriety but thats the point. Freedom isn’t free. There’s more than enough money spent on the problem now to fund a big enough camp to house all of Portland area’s homeless.
    10
  312. You want more of something, throw money at it. That’s Econ 101. They need to starve the beast that is homelessness as a life choice. Sure, some need help. Let’s get them help but we also need to stop incentivizing homeless for all the others.
    10
  313. This is insanity. At some point this escalatory game of chicken will likely lead to the use of nukes. The world had a good run.
    10
  314. A huge factor driving the US economy since the GFC has been money printing and massive debt fueled stimulus programs. These are both unsustainable and have now led to out of control inflation. When the money printer stops in a couple months, rates will rise even faster. Higher rates will cause a recession and millions will lose their jobs and then their homes. With the US debt credit cards maxed out and the Fed forced to curb inflation, there won’t be massive money printing and stimulus to bail us out this time. Greed will turn into fear as people’s home equity first vanishes, then quickly their homes aren’t worth what they owe. I don’t expect home prices to bottom out for a decade or more.
    10
  315. Fishy? Refinancing demand has cratered
    10
  316. We need at least 700 basis points increase to get real rates positive.
    10
  317. It’s not their body. It’s a separate, living, thriving human being with its own DNA. The child is just renting the uterus for 40 weeks.
    10
  318. God help us. It was stimulus checks and too much deficit spending that created all this mess to begin with.
    10
  319. $31 trillion debt times 3.3% 10 year treasury yield = >$1 trillion per year in debt service. So the first $1 trillion the government receives in tax revenue goes to pay for past sins. As debt and rates continue to explode, it won’t take long before every tax dollar goes to pay for past sins.
    9
  320. The Fed readily admitted all along they didn’t really know what would be the end result of QE since it was unprecedented. All they knew is they were pulling forward future demand. What could possibly go wrong?
    9
  321. I’m old. Will be 55 next month. When I was about 7 years old there were lots of commercials warning us about the imminent running out of fossil fuels. Fifty years later, fossil fuels are basically the same price as then.
    9
  322. Just like realtors, there are good and bad used car dealers too. But, in the end, they don’t sell, they don’t make money. That is their primary motivation. Never forget that.
    9
  323. Beggars can’t be choosers. You get mandatory barrack type housing with strict rules.
    9
  324. 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
  325. The US has replaced manufacturing with money printing and debt. Once our trading partners stop accepting fake dollars in exchange for their goods, game over.
    9
  326. So I just read refinances are down 64%. I posed the question why it isn’t 99%? Turns out people are sacrificing their sub 3% mortgage to pull some money out of their house. Insanity.
    9
  327. Real estate appraising seems flawed and only backward looking. Recent comps doesn’t reflect 5% mortgage rates and a slowing economy.
    9
  328. Let’s say you took an adjustable rate on a $800,000 loan. Think about what happens when that million dollar home is worth $500,000 in a few years. The homeowner would have to come up with $300,000+ cash to refinance the ARM. But they can’t. They will leave the keys on the counter and leave. This is gonna be worse than 2008.
    9
  329. BS. We have 5 years of real estate hell coming our way. Higher rates, higher taxes, recession, less government stimulus, ending of mortgage payment moratoriums and Fed mortgage security purchasing. It’s gonna be a rout of epic proportions.
    9
  330. Decriminalize crime, crime thrives. Who could have predicted?
    9
  331. Here’s the sad truth and reality. A big portion of US GDP has been from QE and deficit spending. QE is ending, deficit spending is unsustainable. So a biblical crash is unavoidable.
    9
  332. The Fed and Executive branch have boxed us into an impossible corner. Fighting inflation by stopping the money printer, raising rates, and cutting spending will start a depression that will make that 1930s look like a hiccup.
    9
  333. It was barely a year ago when they increased the limit another $2.5T yet zero effort was made to curtail spending or increase revenue to stay under the cap. Insanity.
    9
  334. I don’t think I agree with you on selling “stuff.” Most things are going to be a better hedge against inflation than losing 10-15% value per year that cash gives. Keep all the things that can be traded later. Prices are going up and up on everything we buy - assuming we can get them at all. Just my take.
    9
  335.  @eckankar7756  I’m all for letting them go but not at the expense of turning your city into a filthy shit hole of feces, trash, urine and needles. Three options: drug treatment, jail or very strict concentrated housing centers that cost very little to the taxpayers. Curfews, drug-free, work search and hygiene requirements. We need to make being unhoused a very uncomfortable existence to motivate these people.
    9
  336. Real interest rates are still NEGATIVE 5%. The Fed has a long way to go to stamp out inflation.
    9
  337. “You wake up, you hear the bums” Sounds just like every liberal city in America.
    9
  338. I remember the first day of economics class I asked the professor after class about gas ever running out. He laughed and said “gas will never, ever run out, it will just get so expensive, alternatives will become viable.” Let’s hope government doesn’t interfere. I would rather pay $50/gallon for gas than not be able to get it at all.
    9
  339. Only 3 end game scenarios: Austerity, default or hyperinflation. Voters and politicians won’t allow austerity or default - so the only end game is hyperinflation. We might have a few months or we might have a few years but it’s coming. P
    9
  340. Hard to believe this group of lunatics finds murdering your child sacred.
    9
  341. Why hasn’t the Fed restored the banking reserve ratio they suspended due to Covid? That speaks volumes as to banks health.
    9
  342. Last year, hell, the Fed should have stopped QE and begun to normalize rates in the summer of 2020. And the stimulus packages should have ended there as well.
    9
  343. What does the tattoo look like if the oversized women lose a bunch of weight? Which reminds me of a classic joke where a woman freaked out before having sex with a man cause his thingy said “AIDS.” He said, oh just give me a few minutes and it will say “ADIDAS” I work there and love their products.
    9
  344. Israel tax rates better be super high. No reason for US taxpayers to subsidize their security
    9
  345. For reference, that’s about the same increase in US debt. Funny how that works, isn’t it?
    9
  346. 0.9% growth? Can you imagine the recession/depression when the $2.2T/year in deficit spending is curtailed?
    9
  347. Just raise Fed rates to 10%+ and get this thing over with.
    9
  348. I suspect high crime (soft on crime)/high homeless areas will also be more adversely affected in the next crash.
    8
  349.  @IAllegedly  Although big screen TVs aren’t much use in a homeless encampment. :)
    8
  350. These are the people we’re gonna need to keep the Soc Sec Ponzi Scheme going.
    8
  351. The last crash took 5 years to bottom out and the Fed was the pulling out all the stops using extraordinary tools like QE and lowering rates to 0%. Now, with rates still at 0% and the Fed now pivoting to fighting inflation, the Fed can’t help so this downturn may take decades before it completely bottoms out.
    8
  352. Actually the Fed did too much (initially). They should have normalized rates after the hard lockdowns in the summer of 2020 and never should have interfered in the mortgage market by gobbling to $3 trillion in mortgages. All this, combined with record deficit spending and work from home, spurred home prices to record highs. Now the Fed has a big problem on its hands trying to unwind the bubbles they blew. People are scared to sell for now. But anyone leveraged in multiple properties is going to get crushed.
    8
  353. Why hasn’t the Fed moved to immediately restore 10% reserve requirements and force banks to properly value their assets?
    8
  354.  @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
  355. Target and Walmart sell mostly Chinese junk or immediate consumables/disposables like food and toiletries that serve the poor and lower middle classes. These people are hurting the most right now due to inflation.
    8
  356. Be thankful. If those birds were humans, they would have just beat you up, possibly killed you, and taken all your money and bird seed.
    8
  357. I still am surprised remote work doesn’t adversely impact innovation and productivity. Peter Schiff recently said productivity gains were just measured as the lowest in history. That doesn’t surprise me. Offices and close gathering of minds evolved for a reason. And that was to create a think tank environment for great ideas. I just don’t think that can be replicated by Zoom. As an example, would Jobs, Wonziak et al. been able to invent the Apple computer using Zoom to communicate as opposed to all being in a cramped garage sharing ideas? No way! Sooner or later the smart companies are going to realize we need to physically get together again.
    8
  358. I sure wish Oregon had a good Senator like Marsha Blackburn. Ours are completely worthless.
    8
  359. Love Jim Jordan. He needs to get the speaker gig.
    8
  360. Adding 30% to the 1 and 8 Americans that can’t afford to feed themselves (allegedly). Adding dental, optical, nursing and free AC units to seniors. Free paid leave, feee college, free child care free pre-K, and more. We’re is there money coming from? We already have $30 trillion in debt and $100 trillion in unfunded promises! This can’t end well.
    8
  361. In the 1980s, my brother invested in some new apartment complexes in Carrollton, TX. Then a crash happened and they were all bulldozed over.
    8
  362. I’m really enjoying seeing Israel getting some vengeance. Although I really think this is gonna expand to be the biggest war of our lifetimes. Let’s hope we all don’t nuke the earth out of existence.
    8
  363. The Fed, the CDC and the executive branch manipulated markets far, far more than Zillow. Do you realize the Fed is buying $40 billion per month in mortgages? And their near zero interest rate policies have blown a giant bubble.
    8
  364. I agree. Problem is, when home prices start falling they could fall for a decade. It’s that much of a bubble.
    8
  365. Sadly, If the US had a president half as good as JFK today, there would be no war in Ukraine. Can you even imagine JFK sending Jackie to Berlin to do that famous speech?
    8
  366. Interest rates work as stop lights in a normal functioning economy. The Fed has kept them artificially low for decades, essentially meaning they’ve been green in all directions. The crash is going to be epic.
    8
  367. 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
  368. “Backstop” just another euphemism for bailout.
    8
  369. It’s been said by some economists that without stimulus, QE, and massive deficit spending we would still be in the 2008 crisis. If this is true, we’ve done nothing but make a much more massive bubble. A cataclysmic collapse is inevitable.
    8
  370. Crypto is a huge threat to government control. And that will ultimately become its undoing.
    8
  371. What tools does the Fed even have to minimize the next downtown? We’re at 0% and the world is already suffering high inflation due to runaway QE.
    8
  372. God I miss that man. When the US had real leadership
    8
  373. Brandon is such a dbag. He’s just doing what Barry told him to do.
    8
  374. Most US debt instruments are now paying close to 3%. This is triple what they were paying a year ago. Insolvency is on its way
    8
  375. People aren’t gonna be happy to cobble together $100,000 for their 20% on a $500k house only to find that $100k disappear in 3 years.
    8
  376. He has to. That’s all he has left. The public employees, the radical minorities, the woke mob, and the LGBT mafia. That’s his core constituency.
    8
  377. As a rule of thumb, if you can work remotely you really aren’t necessary to the business.
    8
  378. Many people think they will have time to save their dollars and assets. When we reach the end of our rope, poof! No stop loss, no nothing. It will all be gone in minutes. It could be any day at this point.
    8
  379. There’s really only two directions for home prices at this point and it’s all determined by Fed action or inaction. Sadly, either decision will be calamitous.
    8
  380. 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.
    7
  381. But they sure do have a lot of guns, ammo, RPGs, rockets, tunnels and other weapons of war. It’s all about priorities.
    7
  382. I am so envious of Israel’s Mark Regev and Jonathan Conricus and so many others I’ve seen speak on these matter. Just wow. If the Biden administration even had one person with this sort of competence, America wouldn’t have near the problems it does.
    7
  383. If you want to know why housing is so high, think about the 200,000 or so crossing the border illegally each and every month,
    7
  384. Here’s the difference between now and 2008: instead of banks ready to go under due to BILLIONS in toxic loans, this time it’s the Fed with TRILLIONS in toxic loans.
    7
  385. Buffet is a complete weasel trying to say monetizing the debt isn’t just as draconian as a default.
    7
  386.  @renee55  ALL bailouts are bad. Businesses and individuals need to pay their damn bills. Otherwise, the whole system collapses.
    7
  387. Don’t forget all the joy Robin Williams exuded as well. The external expression of “joy” is part of the disease.
    7
  388. Because this time is different, right? Without record low rates, QE and massive deficit spending, home prices would still be at 2012 lows.
    7
  389. Mortgages at 4.5%, tightening just beginning, war in Ukraine keeps raging, unlimited black swans on the horizon. Trade with caution.
    7
  390. 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.
    7
  391. The “free lunch” economy has been over for decades. We’ve been robbing from the future. We’re just running out of future to rob from.
    7
  392. I have to admit I wouldn’t miss the gas leaf blowers. Those are noisy AF.
    7
  393. Totally agree with your analysis. Record low interest rates, low taxes, Fed money printing and massive US deficits are most of the fuel keeping the economy alive. This just isn’t sustainable and there will be a day or days of reckoning soon. US Covid response poured over $10 trillion in debt robbed from the future into the 2020-2021 economy. That support is not only ending, it will have to be serviced.
    7
  394.  @pocolayne8749  They are ALL reckless spenders. The mindless masses aren’t interested in voting for fiscal balanced budgets. But of course when the collapse happens, they will be the first to point fingers away from themselves at how this could possibly happen.
    7
  395. Tell the people who lose their jobs to the corporate tax hikes it costs ZERO.
    7
  396. Once real estate prices start to fall, they will fall for a decade. Sure there will be some plateaus on the way down but don’t buy in the next few years. Wait for a 70% pull back in prices.
    7
  397.  @dragani2330  War is different than terrorism.
    7
  398. I’ve always admired Condi Rice. She’s truly one of the great intellectuals.
    7
  399. Homeowners insurance rates gonna skyrocket even more. Stop living in deserts, flood and hurricane areas of the country for Christ sake.
    7
  400. Under historical circumstances, there would have been 2-3 recessions since the GFC. But, instead, we’ve money printed and deficit spent our way around these natural cleansing processes. Because of this mismanagement, we’ve set the table for the worst depression in history.
    7
  401. 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.
    7
  402. Key point in leverage and margin debt. When the market crashes it’s gonna be ugly.
    7
  403. 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.
    7
  404. Home wealth collapse will bring down stocks and eliminate jobs right along with it.
    7
  405. I’m in the Salem, OR area and homes that were 330k in 2018 are 550-600k today . I thought they were way overpriced at $330k. Finally starting to see regular price declines but it has a long way to go.
    7
  406. Are those tens of thousand of homeless tents and RV home taxes going up 30% as well?
    7
  407. Premature Babies continue to survive outside the womb earlier and earlier. This makes the whole “first trimester” argument nonsense.
    7
  408. It’s not even relevant until Fed controlled rates are above inflation.
    7
  409.  @alinatamashevich3354  Bad analogy. If the roller coaster crashes you get hurt even when strapped in your seat. Sometimes the only way to survive is to jump out safely before it does crash.
    7
  410. Tesla shareholders should be concerned that their stock is wildly overvalued.
    7
  411. Yellin, Powell and company have been saying for nearly a year that they have the tools to fight inflation if need be. Meanwhile, we’re still on full ZIRP accommodation with the money printer still printing $100 billion per month.
    7
  412. Fun fact: $2 trillion annual budget deficits are the equivalent of 20 MILLION $100,000/year jobs that wouldn’t exist otherwise. This debt Ponzi scheme is the only thing keeping a Great Depression at bay.
    7
  413. 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.
    7
  414. Interest rates are the stoplights of the economy. The Fed made those rates artificially way too low and for way too long. Under normal free market circumstances, loans won’t be made for negative real interest rates. The Fed (and deficit spending) made this mess and there’s no way out without a massive recession and wealth destruction.
    7
  415. Economic instability is due to government policy and intervention. We need to get back to sound economic free market principles.
    7
  416. 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.
    7
  417. Stocks back down 1,000 pts today. Rates are also skyrocketing today. Mortgage rates gonna be pushing 6%. And the Fed hasn’t even begun to unload its $9T of crappy assets.
    7
  418. 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
  419. In my best Jim Mora voice: “Rate hikes? RATE HIKES? We’re just trying to turn down the money printer”
    7
  420. Don’t forget how desirable homes became during lockdowns. Now that (hopefully) lockdowns and the pandemic are receding, many folks may quickly discover than home ownership is a pain in the ass if you want to not be tied down and travel a lot. Keeping that home maintained consumes a ton of your free time. What was once coveted could easily be viewed as a burden.
    7
  421. I feel bad that corporate and the store managers are pushing their retail staff into pushy salespersons. Businesses are just panicking. Pushing employees to sell more is one way to justify wage increases.
    7
  422.  @romanjaimes4948  Yesterday’s KKK is today’s BLM and Antifa
    7
  423. I refuse to shop at a business that has EV charging stations.
    7
  424.  @bigkahunaburger5185  Some things may be better but many things are way worse. To get us out of the GFC, the Fed was in a position (due to low inflation) to take interest rates to 0% and start buying trillions in mortgages. They can’t do they now. Plus, the nation had 1/3 the debt we have today. It’s been said that if not for the massive deficit spending, 0% and trillions in mortgage purchasing by the Fed we would still be in the GFC. So this upcoming crash will have to fix itself without massive government intervention like 2008.
    7
  425. Rental assistance is a complete scam. Renters should have to explain the hardship in detail. Anybody who lost jobs only lost them for a month and if even it was longer they could get extra unemployment. There was NO reason for an eviction moratorium and rental assistance but to reward deadbeats!
    7
  426. So glad you are quoting Peter Schiff Dan. He gets it.
    7
  427. People have a biggest car loans ever, biggest home loans ever and now the cost of debt is rising rapidly. What could possibly go wrong?
    7
  428. New Car salesman prolly all quitting to. Cars aren’t available and pre-sold before they even arrive.
    7
  429. If the owner isn’t paying, why should the renter?
    7
  430. If you want to know just how bad of shape America is, just force the government to live within its means and not issue any additional debt. Like Jason says, force them to make budget decisions.
    7
  431. That would have to be revenue neutral. I just don’t see how $12,000 per year in property tax revenue can be offset by “slightly” higher sales taxes.
    7
  432. Stop buying Starbucks. Stop drinking. We could go on all day.
    6
  433. Always loved the look and off road capabilities. But the combination of rough ride and 15 mpg with $6/gallon gas might start to hurt.
    6
  434. 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
  435. …and inability to buy what you need at any price.
    6
  436.  @haroldcruz8550  The poor and middle classes were completely wiped out via post WW1 Weimar inflation. Guess who was running the German financial system then? History might not exactly repeat but it does rhyme.
    6
  437. Joe Kernen is one of the few good journalists left who isn’t pimping an agenda.
    6
  438. The whole housing racket is a scam. Appraisals should reflect the fact that mortgage costs are 70% higher than a few months ago. But no, they only look at the rear view mirror instead of the windshield.
    6
  439. Exactly! And now she’s moving on to a red, cleaner, Tigard neighborhood.
    6
  440. Normally, I would be concerned those aid trucks crossing at Rafah would contain war materiel. However, the IDF was brilliant to seal of the northern half of Gaza where most of Hamas’ fighting strength resides. So, even if weapons are on those trucks, they will unlikely reach northern Gaza.
    6
  441. The huge spike in rates has just been over the last couple months. We really don’t have any data points yet. But we will soon. And it’s get gonna start getting ugly. This adds $500 per month extra on a $400k mortgage - and it’s still rising. That is not insignificant.
    6
  442. My Oregon retirement pension has a COLA cap around 1.5% per year. It also has a $100 Billion unfunded liabilities. Every year inflation exceeds 1.5% I get a pension cut in real terms.
    6
  443. Here’s an interesting thought: smart phones didn’t exist in the last housing crash.
    6
  444.  @drinny26  Meh. Let’s go Brandon is epic funny!
    6
  445. @Scooby Doo Huh? Even if the US gov’t spent $0 on anything else, they still have to spend about $500B a year on debt service. That leaves income about $3.5T. But without federal spending, tax income would be a lot lower. Maybe $2-$3 trillion year. So a $30.5T debt would take well over 10 years to pay off IF THE US GOV’T DIDN’T SPEND A DIME! Do you even realize how calamitous it would be for the government spending $0 is? No services, no parks, no healthcare, people’s pensions and Soc security would get slashed 90% etc etc.
    6
  446.  @CMBUBAK  Yeah, there’s some truth to that. 1971 was the year there was nothing backing the US dollar. That’s when the debt really exploded. When US debt passed $1 trillion in the early 80s, Reagan said $1 trillion was a stack of $1000 bills 67 miles high. Now it’s 30.5 x 67 miles high. That’s a lot of $1000 bills to be in debt.
    6
  447. If all the life essentials we buy like food, gas, cars, and housing are up 15-50%, how can inflation be believed at 8.5%?
    6
  448. 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.
    6
  449. 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.
    6
  450. What war cost 280,000 lives? Vietnam was more like 58,000.
    6
  451. Where is that prison guard from Shawshank Redemption to knock some sense into SBF when you need him?
    6
  452. Nutty professors like this are a dime a dozen these days.
    6
  453. Nope. Nor would there be a costly war in Europe, let alone funding it.
    6
  454. I wanted to blow a gasket yesterday watching Pocahontas grilling J-Pow about inflation and trying to blame it on “greedy corporations.” The nerve. The Fed, Brandon, and the legislative reckless spenders are what caused 99% of the inflation problem and shortages!!! Grrr
    6
  455. The Fed bought $3 trillion in mortgages paying 2.5% and $6 trillion in US paying 1.5%. How can they unload this without losing a ton of money?
    6
  456. I hope Doocy asks that question in the next press conference.
    6
  457. Simple solution. #1 you can’t be homeless #2 if you find yourself homeless you have 48 hours to check into a homeless processing placement center. Voluntarily or involuntarily.
    6
  458. Even if you could believe the 5.2% inflation, with only 4% growth, that means the economy is shrinking 1.2%.
    6
  459. I’ve been accustomed to waking up to learning of impulsive black on black violence. Just never expected it from the Oscars.
    6
  460. 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
  461. He’s weak and our enemies do not fear him.
    6
  462. Our whole economy is money printing and debt.
    6
  463. 10 year treasuries highest in 3 years today. This shit gonna start blowing up.
    6
  464. How can the US be in better financial shape with 5 million more unemployed and $10 trillion more debt than just 2 years ago? Everything is irrational.
    6
  465.  @RealLifeFinance  For the most part, Banks aren’t holding these money losing mortgages, the Fed is (taxpayers). In normal free market lending scenarios, no lender would loan below the rate of inflation - especially on a risky asset like a house. The Fed should have never bought $3 trillion in mortgage bonds and left Fed rates at 0% for so long. This created an untenable mess that is going to cause great pain.
    6
  466.  @genX_gamers  The Fed is currently sucking that liquidity out of the system. They are rapidly shrinking their balance sheet.
    6
  467. Sadly, when fighting subhuman animals, you are forced to abandon typical rules of war.
    6
  468. Somebody who is watching their home equity decrease by thousands every month during this decline that is going to take years. Or somebody who is upside down on their mortgage. Plus, Wall Street will cash out, people will need to relocate and so many other reasons. Greedy Over leveraged investor landlords will also get exposed. Once panic sets in, it’s gonna turn into a rout.
    6
  469. Interest rates and mortgage rates are now at pre-Covid levels. Home and equity prices are inversely proportional to rates. So that means prices for both should be at 2019 levels, all other things equal. But things are NOT equal. We have WAY more debt. We have way more inflation. And now we also have global instability with a possible war in Eastern Europe.
    6
  470. What’s scary is the banks failing in 2023 are failing without high unemployment and customer loan defaults like 2008.
    6
  471. No bank would loan to buy a house at 2.5% when inflation is 5% without the Fed immediately taking these loans off their books via MBS purchasing. Once the MBS purchases dry up, expect mortgage rates to climb and home prices to fall.
    6
  472. “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury.” Alexander Tytler, 18th century
    6
  473. Why would a bank loan at 3-4% for 30 years on an asset in a massive bubble when inflation is 7-15% with no signs of easing? Oh, and the Fed is getting out of buying MBS in a couple months.
    6
  474. Could be. But that income wouldn’t have been reported as W2 wages, it would be a 1099 retirement withdrawal. My guess is it was all the Covid bonus pay and other hazard pay differentials many employees were receiving.
    6
  475. Granny Yellen and the treasury won’t stop spending until something irreversible breaks. MMT was always gonna be suicidal.
    6
  476. 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
  477. Real rates need to be positive and we’re not even close.
    6
  478. “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
  479. I don’t think the 2008 recession ever ended. We just bought ourselves a little time with multi trillion annual deficits, QE and 0% interest rates.
    6
  480. The only reason opioid addiction only takes the young(ish) is because no older person’s heart and body can survive the negative consequences of the drug.
    6
  481.  @pefo1674  I’m against capital punishment too but at least did something to deserve to be punished. That unborn child didn’t noting wrong except be conceived by a selfish mom.
    6
  482.  @dennisduran8500  Ha! Good catch, thanks. The Fed could NOT care less. Treasury AKA taxpayers are on the hook for whatever they lose on those assets.
    6
  483. That seems like a lot of cash until you realize the federal government is adding debt at a rate of $1 trillion every 100 days
    6
  484. That’s still about 700 bps short of fighting inflation.
    6
  485. The US has added over $30 trillion in debt since 1989. That’s more than the market cap of the current list combined. I’d like to know where stocks would be if we had run balanced budgets.
    6
  486. MySpace
    6
  487. These people live on a Mediterranean beach that has nice weather all year. Imagine the lives they could have it they focused on just making the best of it.
    6
  488. So sad that the folks running the economy couldn’t pass a classical economics 101 course.
    6
  489. I sure hope the Fed unloads their $3 trillion in mortgages off their books. This will cause rates to spike even more.
    6
  490. 2023 a good year for tech? We’ll see. I think we’re starting a multi year decline
    6
  491. The world is at war. Our borders should be secured.
    6
  492. The Fed is only at 1.5-1.75%. I wish the Fed would just rip the band aid off and raise the Fed Funds rate above inflation immediately. That would cause an immediate housing price “reset” of around 50% reduction in home values. Instead, we’re gonna suffer through a slow burn that’s gonna last a few years before prices bottom out - and likely have a painful recession.
    6
  493. I sold my Honda for $5k more than I paid for it after two years and buying it new. It was also completely trashed in a car wreck. Sadly, I’m almost regretting it because dealers all want sticker plus for new vehicles. I’m not paying it. Looks like I’ll be riding my bike for a year or two.
    6
  494. Your grandpa is a wise man. We’ve been robbing from the future for two generations. The Fed has pulled out all the stops to try to keep this financial Ponzi scheme alive as long as possible.
    6
  495. When home prices start falling, they will fall for the better part of a decade. They are that inflated. Good luck to those who buy at the first drop.
    6
  496. Bull crap. Sell off assets and give haircuts accordingly.
    5
  497. The end of QE, rent and mortgage moratoriums, and higher rates should help do the trick. But it’s gonna be ugly.
    5
  498.  @mattcolver1  We all die with nothing.
    5
  499. As long as reserve ratio is still 0%, no deposits are safe.
    5
  500. I blame the greedy auto unions for Detroit’s downfall.
    5
  501. A credit crunch/debt bust is near.
    5
  502. You really think cutting social security and Medicare/Medicaid is gonna be allowed? People will revolt.
    5
  503. Correction? It’s gonna be an ugly crash. 50% lower in 2 years.
    5
  504.  @LA70S  I agree. Regular recessions are healthy when allowed to play out without government interference. But the Fed and congress have been manipulating the system so much lately that we’re screwed.
    5
  505. 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
  506. Every poor person that can only afford an ICE is subsidizing a snobby rich person buying an EV. That’s today’s out of touch democrats in a nutshell.
    5
  507. Controlling inflation is easy. Just do what Reagan-Volcker did to stop it. Although this would likely lead to other problems…
    5
  508. I don’t think we have near that long. Something big is gonna break within the next few years.
    5
  509. $75,000 is a lot for a truck (and it is) but I just paid close to $30,000 for a Honda Civic. The dollar is that weak and the car market is that messed up.
    5
  510. @ If we had something backing the US dollar, the government couldn’t get away with these huge deficits. It’s NO surprise debts started exploding after 1971.
    5
  511. The large companies you mentioned make money. How about the thousands of zombie companies that lose money and only survive because of rock bottom interest rates?
    5
  512.  @mth469  Agreed. No more bailouts for anyone.
    5
  513. Hopefully Israel is able to vet any military age men before there are allowed to leave.
    5
  514. Great stuff as always Nick!
    5
  515. I used to watch his videos but he then went kind of nutty at some point a few months ago.
    5
  516. Dan, go put a $20 on black 13 on the roulette table. I’m good for it man.
    5
  517. This doesn’t end well. And when things do start to sour, it will collapse quickly. Think Weimar Germany only worse since the US dollar is so intertwined with the world economy.
    5
  518. Easy fix. You can’t be homeless. Forced mandatory shelters or treatment with strict goals and rules.
    5
  519. 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
  520. Portland was pretty nice 20 years ago but now it’s LA without the nice weather.
    5
  521. I just sold my Honda for $5000 more than I paid for it new after driving it for 2 years. I’ll get another new one when they start selling for well under sticker price again. My Dad always warned me that I would get a whipping if he ever found out I paid list price for anything.
    5
  522. The Fed has just begun to unload $9 trillion in US debt and mortgages. How the markets react to this massive straw-man buyer going away will be very telling to where we are headed. If the credit markets start to go haywire we’ll know how much serious trouble we’re in. Most people acknowledge the US has no chance of paying its debt in full. So why would non central bank credit markets loan it more money without demanding much higher rates?
    5
  523.  @jesse_-  Yes.
    5
  524. Is was Jewish land before Palestine
    5
  525. This is all happening in the USA too, mainly due to woke and DEI policies putting people is positions they aren’t qualified for.
    5
  526.  @tomeichenberg9648  Great answer, insight and reasonable predictions but do you really think this can continue another 10 years? It seems a lot of bad news in converging fast (record debt, hunger, drought, war etc).
    5
  527.  @Kevinw4040  I don’t think they can get there through taxation alone. They can maybe buy a little time through wealth confiscation as suggested by Sanders and Warren but that doesn’t end well either.
    5
  528. When will blacks start obeying laws and police commands?
    5
  529. This is the world Democrats dream of.
    5
  530. A million dollars sounds like a lot until you realize a loaf of bread costs a trillion. That’s where we’re headed.
    5
  531. Unless they control the entire sector labor market (e.g., 100% of the coffee shops), unions don’t work, and will only serve to harm both the business and the employees. The union will score a bunch of dues, however.
    5
  532. Hitler’s Kangaroo Court
    5
  533. What happened to the tri-met job?
    5
  534. 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
  535. Corporate greed is impossible in a laissez-faire free market. It’s government intervention, overspending and money printing that’s causing all these messes.
    5
  536. So you’re pimping and profiting on a product you wouldn’t touch yourself. That’s just a little sleazy don’t you think?
    5
  537. Hi Dan! I think today’s title is the least negative it’s ever been!
    5
  538. 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
  539. Lots of working class people are going to lose their jobs when corporate tax rates go from 21% to 26.5%.
    5
  540. Think about all the people putting $100,000 down on a $500,000 home that will be worth $350,000 in 3 years.
    5
  541. If people really cared about their social security they would have voted for candidates that promised a balanced budget decades ago. Voters are as guilty as anymore. Everyone wants free stuff but no one wants to pay for it. And that will be the end of social security.
    5
  542. What do you think high inflation does? It makes you go broke without even spending money.
    5
  543. Stocks are down so far today. I don’t think we’re close to a bottom as the Fed hasn’t done much yet. The credit markets should be interesting to watch when the Fed starts unloading its balance sheet next month.
    5
  544. There is absolutely no reason the Fed should have been buying mortgages for the last 18 months, let alone forcing interest rates to record lows. This has created a bubble that will end much worse than 2008.
    5
  545. So? There’s lots of volunteers from around the world fighting for Ukraine.
    5
  546. Beacon Hill was a dump when I lived there in the early 90s. But then again my large 2BR was $325/month and the freeway access was excellent.
    5
  547.  @brianoleson4634  Yup. You can blame the Fed.
    5
  548. Good morning Dan!
    5
  549. And that will trigger hyperinflation.
    5
  550. Amazing seeing people get excited over murder.
    5
  551. The Fed could stop inflation in its tracks in 10 minutes. Auction off their $9 trillion balance sheet and let the free market determine interest rates. Do it!
    5
  552. Hey Nick - I just did some research on how the Fed QT is progressing. Turns out the Fed has actually ADDED billions more in mortgages so far. That should be very worrisome for home prices. The Fed apparently doesn’t think banks can absorb even a small amount of of the $3 trillion mortgages the Fed recently bought. Gonna get ugly…
    5
  553.  @lauriegriffin1835  Have you ever heard of a guy named Paul Volcker? Look him up.
    5
  554. So should The Fed
    5
  555. Exactly! Free market interest rates act as stop lights in a normal functioning economy. The Fed has distorted these rates creating massive bubbles and inflation.
    5
  556. Dude seems like a total weasel. Only spoke in nebulous 40,000 foot sound bites.
    5
  557. Actually, Tasmania and Tanzania get mixed up more.
    5
  558. I suppose it’s safe to say his deposit wasn’t returned. Why is it a safe bed it was rented by a member of the 13%?
    5
  559. Poverty and appreciation are certainly excellent data points. Although I still believe the the largest variables are monetary, fiscal and regulatory policies: Monetary: example: record low interest rates, money printing and dollar devaluation Fiscal: example. Record deficit spending, stimulus checks, tax cuts Regulatory: example: Eviction and foreclosure moratoriums These items are what has blown this massive housing bubble and if/when they end house prices will collapse.
    5
  560. Either that or a nuclear holocaust destroying civilization. Luckily Kruschev blinked in 1962. Do we really want to test if Putin will also blink in the face of the west continuing to escalate the conflict by using its best weapons?
    5
  561. It makes me unbelievably happy that the left is afraid of the man who got filthy rich on green energy.
    5
  562. Here we go…..
    5
  563. How can you really be “ready” when there’s not going to be enough food and water and ultra violence everywhere?
    5
  564. Fuel up 70%, homes and rent up 30%, food up 20%, cars up 30%. So why isn’t overall inflation up at lot more than 5%? Suspicious
    5
  565. When housing prices fall, they will fall for a decade
    5
  566. Our choices are only hyperinflation and product outages OR massive loss of wealth by the wealthy. If the Fed was concerned about hyperinflation and product outages they would have stopped the money printer and normalized interest rates a year and a half ago.
    5
  567. The weakest, most poorly managed economies like Turkey, Greece, Portugal will fail first but this will eventually take down the largest economies.
    5
  568. How rich do you have to be to have $72,000 in state and local taxes? To Buy an $80,000 EV? Democrats, the party of the rich snobs. Gross.
    5
  569. That just tells us how many zombie companies are out there only surviving on ultra accommodative fiscal and monetary policies.
    5
  570. Isn’t that low? I’m thinking $50 trillion or more. If we last that long.
    5
  571. The mortgage loan officers are already losing their jobs. Realtors won’t be far behind.
    5
  572. I worked in an Amazon warehouse for over a year in Oregon as an entry level associate. It was overly micromanaged but overall a good work experience. (And I came from working decades in cushy government jobs). You were free to take bathroom breaks as needed. When Covid hit they changed their policy on taking your phones into the secured work areas. Apparently this was only a regional change of policy?
    5
  573. In todays era of negative real interest rates, banks usefulness is at an all time low. The Fed has turned banking upside down. It’s making banks close locations like crazy and also desperately look for ways to replace lost revenue.
    5
  574. Great stuff as usual Dan. Spot on! Although you were more agitated and paid less attention to beautiful nature today. Don’t forget to maintain that balance!
    5
  575.  @danwohlslagel1277  Yep. That’s the big lie about 2008. Just like college students not wanting to pay their college loans, homeowners will not want to pay their mortgages when they get upside down.
    5
  576. The Fed has devolved into just doing whatever it takes to extend the Ponzi scheme a little longer.
    5
  577. I got a degree in economics in the late 1980s and all my professors were grounded in Austrian economics principles and sounded just like Peter Schiff. Today most are liberal MMT nut jobs like Paul Krugman.
    5
  578.  @nickbryant6970  Maybe. But millennial parents paid $200k @ 8% interest where houses are $600k @ 3% interest today. Debt is debt and if rates ever go up again you will never be able to get rid of that house. I’ll take low prices and high interest rates over high prices and low interest rates any day.
    5
  579. Why would houses be higher in price today than pre-Covid when there were 5 million more employed and $10 trillion less public debt? Answer: they shouldn’t!!! It’s all a manufactured mania and scam!
    5
  580. Why would you believe in a currency that uses a money printer to buy its own debt with reckless abandon?
    5
  581. It’s hard for me to believe productivity and innovation is equivalent in remote work environments. Think tank anyone? If Jobs and Wozniak were collaborating remotely instead of in that cramped garage, Apple would never have happened.
    5
  582. Peter is correct. And yes, people have been talking about this since the US abandoned any sort of backing for their currency in 1971. $34T debt, $200T in unfunded promises and $2T/year in additional red ink. Debt is finite and it will most certainly collapse into violence, chaos and financial ruin. I would say we’re much closer to the end than the beginning. My prediction is the trigger will be some sort of credit market shock that begets rolling defaults.
    5
  583. 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?
    5
  584. Suck it Mitch. Even before we saw the video footage any reasonable person knew the accusations against the 1/6 protesters were highly embellished for political purposes. Those charged should all be dropped.
    5
  585. Zero chance of recession ha! 100% chance of recession.
    5
  586. I don’t disagree with your assessment but puts are expensive. And every day there isn’t a crash you lose money. I’ve been expecting a crash for years but it seems they seem to always find ways to keep the Ponzi Scheme going. Good luck!
    4
  587. Our founding fathers warned us to not take on debt and if absolutely necessary, we pay it back immediately. They knew excess debt would be the end of the Republic.
    4
  588.  @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
  589. Make banks do two things immediately: 1) reserve ratio 10%+ 2) mark down their overvalued assets
    4
  590.  @MultiAnne36  Some will no doubt. If you own just one home that you love and the payment is affordable yes. But many investors and others that are over leveraged could get in trouble when houses start to fall. All it takes is a liquidity crunch. And with the Fed unloading its balance sheet that could easily happen.
    4
  591. Without massive money printing and deficit spending over the last dozen years, we would still be in the Great Recession. We’re running out of road to kick the can…
    4
  592. 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
  593. @ Money printing causes inflation
    4
  594. Spoken like someone who works in the housing business.
    4
  595. Agreed. Sooner or later debt will force governments to live on a budget.
    4
  596. It seems the end game could be modeled. In my opinion, debt is finite and there’s a point where everything starts to break. When is that?
    4
  597. “Reservations” aren’t sales.
    4
  598. What’s so interesting about Will Smith's violence is Chris Rock does a comedy bit about black on black impulsive violence. "Why do 20 years to life cause someone smudged your Puma?" Oh, the irony…
    4
  599. There’s a ton of zombie companies that only survive via cheap low interest loans. Those loans have dried up.
    4
  600. US 10 year yields at 1.92%. This is going to help pop the housing bubble.
    4
  601. I hear often from people every time one of these videos comes out that once prices drop, say 10%, they are buying in. Problem is prices may dump 50% and take years and years to fully bottom out.
    4
  602.  @888ssss  Alone…
    4
  603. 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
  604. Here’s the scary reality of the current housing market. After accumulating $3 trillion in mortgage bonds, the Fed had stopped buying them and plan to sell. That’s why the banks are being so picky now. They are on the hook for these loans now, not the Fed who had been buying them off their books.
    4
  605. 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
  606. Probably one of the only reasons US tech still leads the world. Silicon Valley is a hotbed of the world’s brightest tech minds, which for whatever reason tend to be make. Very few women means fewer HR nightmares working with a bunch of awkward nerds.
    4
  607. Just Russians being Russians.
    4
  608. The US is currently at the “dependence” stage of the cycle…soon to collapse and revert back into bondage and dictatorship. “Democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.” Alexander Fraser Tytler, 1787
    4
  609. Does it even matter? The landlord has the option to do what they want when the lease is up.
    4
  610. 10-year up another 20 bps today and the Fed hasn’t even begun QT. Home prices gonna get rocked.
    4
  611. GDP is misleading unless it’s “real” GDP adjusted for inflation.
    4
  612. It’s all so corrupt, and LB is awesome. But energy is fungible, and the only way to avoid filling Russia’s coffers is to achieve energy independence. Let’s implement an all of the above policy. Open the pipelines, drill in ANWAR and everywhere else. Let’s go Brandon!
    4
  613. Sad this was a self inflicted wound/bubble. Why in the heck did the Fed buy mortgage bonds and hold rates at 0% so long? They should have begun to normalize operations in summer 2000 once they realized they were creating a massive bubble. But no, they kept rates at 0% and kept buying mortgage bonds for almost 2 more years.
    4
  614. That SS money taken from your check is immediately spent on current SS recipients. Can you say Ponzi scheme?
    4
  615.  @tomeichenberg9648  Good stuff. I found it ironic that Sri Lanka collapsed under the weight of $51 billion debt. The US has given Ukraine more than that to fight its proxy war against Russia.
    4
  616.  @HARDL3FT  Not wishful. It’s just what the numbers suggest. It’s never pretty when the Fed normalizes and it’s way, way worse this time. The Fed didn’t have $9 trillion of mortgages and treasuries on their books in 2008. This is going to be way, way worse than 2008.
    4
  617. Products? It’s called cooking the books.
    4
  618. Do you have a link to what he said to do to avoid heart disease? Or could you share what changes you made?
    4
  619. Until real interest rates are positive we won’t know just how bad things really are.
    4
  620. Said every meteorologist to date.
    4
  621. 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
  622. I’m looking forward to the greedy “Potters” of the world getting wiped out.
    4
  623. And protect Elon too
    4
  624. Apparently there was recently a deja vu Executive meeting at Zillow that was ominously similar to the one in Margin Call when they realized their pricing model was broken.
    4
  625. It does seem rather suspicious that we’re only one rate hike into normalization. Lots of talk, just little action.
    4
  626. “Boy scout” is just a euphemism for “Hamas Youth”
    4
  627. Shellyne is a prime example why paying for college is a waste of time and money for the vast majority of degrees.
    4
  628. 100% correlated. Wealth is wealth. And huge job losses will accompany the stock market crash. No job, no house.
    4
  629. It’s absolutely insane banks are still under “Covid emergency” 0% reserve ratio requirements. And now the Fed just printed $300B in QE almost overnight (inflationary). And the bankruptcies and defaults are just beginning. Just think when the layoffs accelerate and all the defaults overwhelm the system?
    4
  630. The only way governments can ever hope to afford their massive debts is to monetize them (water them down). And that is exactly what central banks are doing. How much will people put up with?
    4
  631.  @nineofhearts6020  You come on. How can someone pimp and profit from something they think is way overpriced sleep at night? It’s that selfish attitude that is turning this country to shit. People used to have morals and ethics.
    4
  632.  @RepublicConstitution  Once so far.
    4
  633. 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
  634. I mostly blame the Fed. There’s record money in the economy and investors are desperate for yield. Rental income (and associated fees) still beats the 3% bond yields. That’s why the Fed needs to make interest 10% plus. That will crush the values.
    4
  635. Why would Powell want the job? Odds are there’s gonna be a huge crash in his next term if he stays.
    4
  636. 8% on $30 trillion is $2.4 trillion per year. That’s scary. And that $30 trillion continues to increase every year. Insolvency.
    4
  637.  @humanoid1948  Exactly! The reason the crash happened in 2008 is because people got buried underwater on their mortgages. Even “good” borrowers. Prices go down and people will start jumping ship and a collapse will occur. Remember it took about 5 YEARS to get the bottom from 07-08. It will be worse this time cause we’re starting from a place of bottom possible interest rates.
    4
  638. 1776-1982: $1 Trillion in total accumulated debt Oct-Dec 2023: $1 Trillion in added debt. Frankly, this debt Ponzi Scheme is what is keeping the economy afloat. But it is finite. When does it implode?
    4
  639. The good news is $15 gas might make silly EVs viable.
    4
  640. 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
  641. One thing worse than hyperinflation is not being able to get things you need at any price.
    4
  642. You’re right about it all being a Ponzi Mark. The only question is when the whole thing unravels.
    4
  643. No Cramer, the stock market isn’t the weakest part of the economy. It’s weak everywhere.
    4
  644. Top Shelf!
    4
  645.  @allan3364  I don’t agree. At some point, both the people rapidly losing home equity and those upside down will selling and look to get out. This will flood supply. As we saw in 2008, people don’t like owing $100k more than the house is worth. Better to just leave the keys on the counter and move (and living in it for free during the foreclosure process).
    4
  646. Anybody ever notice that HR departments didn’t exist prior to women entering the workforce?
    4
  647.  @geraldcroft9020  It absolutely will kill housing. Higher rates are cancelling countless deals. And ARMs have nearly doubled recently. All very ominous signs.
    4
  648. Don’t worry, your home will be valued back in the low $300s in a couple years.
    4
  649. At this moment the market has recovered much of its early session losses. People have been conditioned to expect the Fed will always bail out the market but sooner or later, these bounces will only be dead cat ones.
    4
  650. 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
  651. Alexander Tytler in 1787 said America will fail when the voters realize they can vote themselves “free” shit. Very prescient.
    4
  652. No cars, trucks, or even auto parts were allowed to be made from February 1942 through October 1945. We didn’t have the issues then as bad as post-Covid US. But we were a different country then and lived within our means.
    4
  653. We’ll just have to get used to a lot less.
    4
  654. Awesome, so being a snobby virtue signaling Tesla driver means clearing an carbon consuming old growth forest. The hypocrisy has no bounds.
    4
  655. My brother in law invested in a whole track of homes in Carrollton, TX in the 1980s before the market collapsed. When the market collapsed, they just bulldozed all those homes. That’s gonna happen again soon.
    4
  656. @dicky johnson Believe me I’m not a fan on the Fed or record deficit spending either. That’s what ultimately allowed this massive housing bubble to form. Although the Fed was able to use its money printer, loan rates and other accounting gimmicks to keep the party going a couple extra decades. Now that inflation has been unleashed, they’re stuck and we’re all gonna suffer mightily.
    4
  657.  @hoapres  We already don’t service the debt since we pay the interest on the debt by issuing even more debt. Plus, most of they debt accumulated during Covid was bought by the Fed money printer.
    4
  658. They were replaying the clip from the debates yesterday. It was amazing how much more lucid he seemed back then (just 3 years ago). He’s definitely slipping big time.
    4
  659. The Fed is screwed. They have to choose which mandate they want to help: employment or inflation. They raise rates enough to stop high inflation and asset bubbles collapse job losses will hemorrhage so all they do is talk. Sooner or later though, higher and higher inflation will cause its own train wreck.
    4
  660. 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
  661.  @davidlafleche1142  Rand Paul is one decent elected official who cares about deficits, debt, borders and staying out of costly foreign wars. If there were more like minded officials in DC we wouldn’t have most of the problems we have today.
    4
  662. 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
  663. I don’t necessarily disagree with this video’s conclusion that the lesser of the two evils is for the Fed to continue printing money. At least that will be their default preference. However, at some level of inflation, the pitchforks will come out demanding that it be stopped. That could force the Fed’s hand.
    4
  664. If the Fed flip flops the bubble and the pain will just be that much worse.
    4
  665. Great stuff Mark!
    4
  666. Regarding the younger workers, I don’t think it’s a generational thing. It’s just a function of economic conditions. When I was in high school in the early 1980s, we were jealous of those that were lucky enough to land jobs at McDonald’s or the local grocery store - at $2.50 an hour. Today, we bail out dead beat college students when jobs are plentiful. The upcoming economic catastrophe will change people’s work and personal accountability ethic once again.
    4
  667. That’s certainly part of the problem.
    4
  668.  @michaelhill8441  No they weren’t getting balanced. Wasn’t even close. And the QE money printer and 0% Fed rates were on during Obama’s entire term. Give me one democrat candidate today who is committed balancing the budget?
    4
  669.  @YousefBenIsreal  The price of homes is determined by the tiny amount of homes for sale at any given time. But soon, there m will be significant job losses, there will be emergency sales, there will be relocations. There will be people who get overextended due to costs of essentials. And the Fed has admitted they want to “reset” the housing market.
    4
  670. Finally deleted my account for good a year ago after they kept putting me in jail for nonsensical stuff.
    4
  671. More importantly, how to vote for politicians than can balance a budget as well. Because when the government debt collapse happens, it won’t matter how good her fiscal house is in order. Her savings will become worthless like everyone else.
    4
  672. Not combined with record high prices it isn’t.
    4
  673. Excellent points. Sadly, few people are aware of these facts. Even though $5 trillion wasted in Middle East wars was an incredible amount of money, just think that we’ve wasted another $6 trillion and counting on Covid lockdowns.
    4
  674. 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
  675.  @joy4118  Why do we keep electing them?
    4
  676. We’re already well past the tipping point. No way we’ll see a balanced budget again. Just deficit spending and money printing until hyperinflation causes the whole currency and economic system to collapse.
    4
  677.  @askmedov  A lot of budget commitments are indexed for inflation like Medicare and Social Security so deficits increases will offset any debt monetizing.
    4
  678.  @bigkahunaburger5185  No doubt they can and they will once again. We live in a land of no consequences. In the short term anyway. But that’s why we have high inflation and supply chain issues. They are playing with fire. Just there’s only so far they can go until inflation turns into hyperinflation and the dollar becomes worthless. The rest of the world is getting more and more disgusted with how the US abuses its currency and world reserve status. The efforts to undo that will be stronger. The debt is getting precariously close to being unserviceable, especially if the Fed gets out of the debt buying business.
    4
  679. Monetary and fiscal stimulus created bubble. And remember folks, it might take the rest of the 2020s before we bottom out.
    4
  680. Reagan in 1981 when the US was poised to accumulate its first trillion in debt: ‘I've been trying to think of a way to illustrate how big it really is,' Reagan said. 'The best I could come up with is to say that a stack of $1,000 bills in your hand only 4 inches high would make you a millionaire. A trillion dollars would be a stack of $1,000 bills 67 miles high.' $31 trillion later as we now continue to amass another 67 mile high debt stack of $1,000 bills each and every year.
    4
  681. 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
  682. Hyperinflation or default is in our near future. At that point, the Soc Sec check will either bounce or be worthless
    4
  683. I loved Tulsi even when she was playing for the wrong team. So smart, insightful and pragmatic.
    4
  684. That scenario would unleash hyperinflation.
    4
  685. Duh. The Fed created the bubble. Taking away the Fed punch bowl will pop it.
    4
  686. UP close to $2k per month? Just wait until the job losses pick up. This is going to be way worse than 2008.
    4
  687.  @toeachitsown2050  Would you be thrilled with 2011 prices? Or worse? The price contraction could take years, even decades, to bottom out. It all depends on how long the straw man Fed can keep the party going. And they are under tremendous pressure to cut off the booze.
    4
  688. Pretty ironic when the average American can’t absorb a $400 expense.
    4
  689. Absolutely. Just like 2008, many people even with good credit will abandon their homes once it’s worth far less than they owe.
    4
  690.  @nbonasoro  Prices only “came back” post 2008 due to fiscal and monetary manipulation. With high inflation, the Fed won’t be able to subsidize mortgages this time.
    4
  691. The stock market is priced in NOMINAL dollars.
    3
  692.  @gemineyeintuition6626  It’s called the “Not your money” syndrome. We people are just given food money they tend to waste it. Not all, but sadly many do. I’ve seen plenty of food stamp recipients buy bottled water just to dump out the water to get the deposit back.
    3
  693. Japan beat Russia
    3
  694. Fed manipulation of artificial interest rates and QE straw man purchasing (of US debt and mortgages), combined with $2 trillion/year in federal red ink spending has bought this Ponzi scheme time. But how much longer? All we’ve done is made the ultimate crash that much more painful.
    3
  695.  @FrontUW  Agreed but we’re so far upside down at this point we can’t get there with just cutting those areas
    3
  696.  @ELBarbarro  In many markets, home prices dropped more than 50%. And this is a much bigger bubble than 2008.
    3
  697.  @stevestults1111  I don’t know. Tell me…
    3
  698. The US is currently at the “dependence” stage of the cycle…soon to collapse and revert back into bondage and dictatorship. “Democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.” Alexander Fraser Tytler, 1787
    3
  699. Oil has only gone down due to recession expectations.
    3
  700.  @jc4evur661  That’s a huge budget item for millions of Americans. They get forced to resume payments, that’s less “disposable” income for other purchases - like housing. In any event, it will slow the economy.
    3
  701. Morning!
    3
  702. You make some good points but are incorrect about social security calculations.
    3
  703.  @raymonddeflaviis2306  Let’s go Brandon goes far beyond a nascar race. Student bodies across the nation are chanting in unison. On social media it’s everywhere! Let’s go Brandon = William Wallace’s FREEDOM!!!!!! USA USA USA
    3
  704. So Kim Potter just got two years in the pokey for using the wrong weapon on a criminal resisting arrest trying to flee in a vehicle. Are we going to start holding other professions to the same standard like when doctors make surgical mistakes, or drivers hitting the gas instead of the brake? No wonder cops are just avoiding encounters or quitting altogether and crime is spiking.
    3
  705. People think they are rich on paper due to soaring home values. I feel bad for all those folks that take the bait and pour that money back into their homes for remodels and such. Interest rate hikes are going to squash that temporary equity.
    3
  706. The world under Brandon rewards dead beats.
    3
  707. Prices are vastly understated in so many ways. Inflation is based on retail prices. Discounts are smaller and sales are fewer so more folks are paying full price. MSRP of a vehicle might have only gone up 3% 2021 versus 2020 but now you pay $5,000 OVER MSRP. 18 months ago you paid $5,000 UNDER MSRP. And this applies to so much more.
    3
  708. Terminator and Godfather take umbrage to every sequel being worse.
    3
  709. Mortgage Rates are now 5%. Something has gotta give.
    3
  710. The big difference between 2007 and today is today we have triple the amount of debt and are currently running massive multi trillion (non-recessionary) annual deficits.
    3
  711. Exactly. If you want to know how bad things really are, force the Feds to balance the budget and actually make budget choices.
    3
  712. I was thinking same. Our Walmart is notoriously under staffed.
    3
  713. Schiff is 100% correct. It’s just a matter of when.
    3
  714. The Fed isn’t anywhere near to getting inflation to 2%. So I expect higher rates and continued reduction in the Fed balance sheet. Add to that accelerating layoffs and US debt at record highs, I expect this housing collapse to be even worse than 2008. One of the things keeping prices elevated and supply low is I honestly think people are expecting to be bailed out when housing crashes. At a minimum, being able to remain in their homes without paying their rent or mortgages for a couple years like before. We’ll see…
    3
  715.  @JominC  How can they if inflation stays high?
    3
  716. When I took my first economics class in the 1980s I asked my professor what’s gonna happen when oil runs dry. He laughed and said oil NEVER run dry, it will just get so expensive that oil substitutes will become viable. Most people don’t understand this basic economics fact.
    3
  717. We’re barely a month into Fed normalization and mortgage rates are up 70%. No more Fed mortgage bond purchases. Rise in exotic mortgages and ARMs. Layoffs in mortgage biz. Signs of a recession. And today I was reading that more and more sellers are being forced to reduce prices. Crash is starting NOW!
    3
  718. Harley-Davidson is setting up a separate stock for its EV motorcycle business. EV HD’s? What a joke. The whole point of owning a HD is to hear the iconic roar of its V Twin ICE. Can you imagine rolling into Sturgis with an EV HD? They will laugh you out of town.
    3
  719. The only thing keeping GDP barely alive (nominally) is government deficit spending. And now that we’re running out of things to buy, inflation is quickly making that lever useless.
    3
  720. Mortgage rates are up 70% in a month and a half. No way this doesn’t impact home prices. We’re going to start seeing more and more deals fall through. Then take Fed MBS buying liquidity away and this could turn into a rout fast. I bet by June there will be serious price cuts.
    3
  721. The only way real wages can increase is from worker productivity. If productivity is down, wages will always go down in real (after inflation) terms.
    3
  722. The USA has been averaging nearly $2 trillion annual deficits since 2008. Hyperinflation is our future.
    3
  723. 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
  724. Stinkin’ Blinken is rapidly shrinkin’
    3
  725. Highest mortgage rates since 2011. What were home prices in 2011?
    3
  726. The banking reserve ratio is still at a Covid emergency level of 0%, in other words, UNLIMITED leverage.
    3
  727. We sold out America demanding lower and lower prices at the expense of US auto parts manufacturers, so most of those jobs and plants went overseas. Now we are paying the price. It takes decades to re-domesticate manufacturing, assuming the US even desires to do so.
    3
  728.  @77HeIsLove_woot  Could be. For them, the sooner the epic financial collapse happens, the better. They will have time to carve out an existence in a post apocalyptic world.
    3
  729. Covid gave Democrat run areas an excuse to empty their jails and prisons. This is the natural result. Meanwhile, the nutty harmless dude in the Viking hat at the capital riot gets 3.5 years.
    3
  730. Obama’s hyperbolic outrage and hatred of cops single handedly got all those Dallas cops murdered.
    3
  731. Gotta give them credit, it seems everything that has been done to keep the US economy afloat since 1971 (end of Bretton-Woods) has worked fabulously for 50 years. 50 years! 50 years with virtually no industrial production and consistency shipping jobs overseas. Yet the US has kept afloat through debt and money printing. But how much longer?
    3
  732. Gold Rolex watches are an inflation hedge.
    3
  733. Broken record here but the economy is held together on life support with multi trillion annual deficits. That’s just plain unsustainable without some serious side effects.
    3
  734. Obviously another person who got her job based upon woke check boxes.
    3
  735. Biden’s year one “top ten” list: 1. Humiliating and disastrous retreat from Afghanistan 2. Inflation at 40 year high 3. Debt and deficits at record highs 4. Millions of illegals streaming across our southern border unchecked 5. War in Europe 6. $100 per barrel oil 7. Asset bubbles starting to pop 8. US has lost its “carry a big stick” deterrent edge 9. Homeless at record levels 10. Crime and murders setting records in many cities
    3
  736. Why do the crazies on the left hate science? Gender is determined by your 23rd pair of chromosomes. Human life begins at conception. Anybody that has taken a HS biology class knows this.
    3
  737. Fed mandate is 2% inflation. It’s been running triple this and more for over 6 months. If the Fed was going to raise rates they would have done so long ago.
    3
  738.  @eckankar7756  Those houses they couldn’t afford in 2008 are twice as expensive today.
    3
  739. Negative real interest rates are irrational and wouldn’t happen without central bank manipulation. Even after all the rate hikes, real rates are still barely positive and below historical real rates. My point is don’t expect rates to go down.
    3
  740. Peter Schiff, one of the most brilliant economists, and Buffet and Munger, two of most successful investors of the last 50 years, all say crypto is worth $0. We’re now more than half way there from the highs…
    3
  741. 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
  742. Dead cat bounce
    3
  743.  @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
  744. And people wonder why students want to get their money back on their useless educations.
    3
  745. I realize they have guns but how do thousands of people allow themselves to be plucked off at a time from a much smaller group without fighting back?
    3
  746. You have to pay to park that shit somewhere. Otherwise, you will just be a nuisance squatting in a neighborhood you don’t belong,
    3
  747. My only surprise is how we’ve been able to keep this Ponzi Scheme going for so long. The Ronald Regan statue conjured up how disgusted President Reagan was with the US reaching the depressing milestone of total accumulated $1 trillion in total debt early in his Presidency. “One trillion is a stack of $1000 bills 67 miles high.” Fast forward to today and we’re adding debt in 150 mile high stacks of $1000 bills every year. Even Madoff famously said his Ponzi scheme wasn’t anywhere close to the one the US government is running.
    3
  748. With so much vacant retail, why aren’t we hearing more about commercial bankruptcies?
    3
  749. The thing Schiff missed over the years is that fiscal and monetary overreach could go on for so long. The 2008 recession never ended. Ever since we’ve never been able to normalize interest rates and only ended QE a short while. We just backfilled the delta with trillions of new spending and QE. 70% of all US debt and 90% of all QE has occurred since 2008. Debt and money printing do have serious consequences eventually. Sadly, Schiff will be proven right.
    3
  750. All the Covid “relief” like eviction and student loan moratoriums was nothing but a big scam. People only lost their jobs a few months and made more on unemployment. Ever since, there’s been more jobs than people willing to work. No reason for these programs other than to benefit deadbeats.
    3
  751.  @pindot787  How do I see them?
    3
  752. QT and interest normalization should put stocks at late 2019 prices at best case. But it’s gonna be much worse…
    3
  753.  @jsnow6925  He clearly stated he wouldn’t touch real estate. How could anyone with just a tiny bit of ethics, not only encourage someone to buy, but profit from it? It’s that selfish mindset that created 2008.
    3
  754.  @sarahbrown5073  Agreed. That’s why they lied about it for a year and even though they now acknowledge it, they’ve done virtually nothing. Can you even imagine what a 10% Federal Funds rate would do to the markets and US debt service?
    3
  755. I had to wait a few months for my pension to kick in so I was letting my credit cards creep up. I always paid at least the minimum. But, my credit dropped SIGNIFICANTLY due to my balances increasing. From 740 to 600. Ouch! They are paid off now. Hopefully it goes back to 740 soon.
    3
  756. I wouldn’t touch banks until the Fed restores reserve ratios.
    3
  757. The US has deficit spent trillions, mostly new debt bought with the Fed money printer. The Fed now owns $3 trillion in mortgages and $6 trillion is US debt. This is gonna be ugly to unload.
    3
  758. It will happen sooner this time. The Fed is going to do 50 bps hikes the next couple months at least. That, combined with QT, will make it much worse. In fact, mortgage rates are already as high as they were during the GFC.
    3
  759. I bet in some Wall Street executive team board rooms there’s a conversation going on soon with some fancy CEO saying “be first, be smarter, or cheat” to save their company from a high leverage collapse in home prices. They’ve cheated long enough, thought they were smarter, but now they must clandestinely SELL to avoid getting crushed.
    3
  760. When you swipe a credit card for gas, the card “pre-authorizes” $100 since it doesn’t know before hand how much the fuel will cost. This isn’t rationing. This is just making sure the customer has the credit available.
    3
  761. I think people assume rates will go lower again at some point but rates may stay elevated for decades.
    3
  762. Hi Dan
    3
  763.  @dianadaughterofthemosthigh2610  Sadly, it’s gonna happen.
    3
  764. SVB can’t be that unique by holding overvalued long term bonds. I suspect any other significant bank run will be expose most any other institution. And I didn’t realize we were living in a time of 0% reserve requirements. That’s scary. The Fed still owns $8.3 trillion in these same assets. They haven’t even unloaded 10% of their holdings and things are already starting to break.
    3
  765.  @konflict1231  Sheree could be right. Target told me if I don’t start using my credit card again they are going to cancel it. That’s a not so subtle way of asking why you aren’t shopping there.
    3
  766. The planet has an entropic bias. Just look at the ubiquitous homeless camps, record world debt, opportunists robbing people and retail, bully countries invading weaker neighbors, etc etc.
    3
  767. Exactly. Lower interest rates = higher leverage and potential for huge losses.
    3
  768. Like Buffet indicated, WW2 deficit “Keynesian” spending bought us time. However, it was the poet WW2 US virtual world monopoly that watered down this debt for the next couple decades. However, Keynesian-style deficits started again in the 1970s up until today. I don’t foresee a two decade US monopoly this time.
    3
  769. He’s right about all the policies being horribly myopic. Hell is coming in 2023.
    3
  770. The Fed openly stated they want to “reset” the market. Home prices will be down 50% in 1-2 years.
    3
  771.  @panoscorfu1974  So they are paid volunteers. But they are there on their own volition. Unlike the Russian conscripts being asked to get in steel caskets.
    3
  772. Because he was only financing $50,000.
    3
  773.  @mph5896  Sure. 5.5% is a great rate at 2002 prices.
    3
  774. What bank or credit union would possibly loan double the MSRP on a vehicle? Once supplies get a little caught up, these will start going for MSRP or less. Then you are immediately $50k upside down on the vehicle. I predict in a couple years there’s going to be a whole bunch of Broncos “totaled” under questionable circumstances - and the GAP insurance companies gonna go broke.
    3
  775. We’re way overdue for a 50%+ drop in home prices. The problem is the housing market is highly, highly manipulated. Hell, the Fed is still sitting on $7 trillion in US debt and mortgages. Plus, Covid myopia has many homeowners staying put in sub 3% mortgages. Add to that bad fiscal policy in our continued multi trillion annual deficits and that keeps inflation high. It will likely be job losses that trigger the housing collapse.
    3
  776. The news today about people cancelling Netflix should be no surprise. The increased cost for food and energy needs to come from somewhere.
    3
  777. You should have watched the Scotty Kilmer videos on BMW. He said avoid but if you buy one, only lease, because the repair costs are insane.
    3
  778. They left doesn’t care about the law and self defense. They just can’t stand it when regular folks stand up to thugs. They had already neutered the cops so Kyle and others were heroes to fill that void.
    3
  779. Zombie companies are going to get exposed everywhere.
    3
  780.  @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.
    3
  781. Why do we not know the leaker(s) name?
    3
  782. Can’t wait. Got a Costco supply of popcorn.
    3
  783.  @jsedge2473  I agree. It’s weird to look back on the 1930s Great Depression and see people so orderly waiting in soup lines or what not. Little riots and violence. No government handouts and social welfare. People either worked or died. Today, half the country burns down because a cop botches an arrest. People have gone insane. And you’re right, it is closer than we think. It’s amazing how many think debt and deficits don’t matter but they do. Hyperinflation could easily happen. Russia, China and India could use their leverage and demand a different world currency. We’re closer to nuclear war than ever and yet we continue to escalate a proxy war against an enemy that’s saying “stay out or I will nuke!”
    3
  784. $35 billion invested in EVs? Yikes
    3
  785. Spot on
    3
  786. Sarah is a badass.
    3
  787. Only two guaranteed liars in the world. 1) the dude who says who never masturbated 2) the dude that said he quit
    3
  788. I looked up why the odd shape of the OK panhandle exists. Turns out it belonged to TX, but they had to give it up because slavery was outlawed at that latitude.
    3
  789. Let’s go Detlef!! Detlef Schrempf was one of my favorite NBA players!
    3
  790. Fed overreach and a half dozen unnecessary stimulus packages are the coup de gras to the US economy. US debt had tripled and the Fed has printed $9 trillion to distort interest rates and housing all since 2008. We’re tostado.
    3
  791. Those Minneapolis cops were sacrificed to placate the black and woke mobs. Disgusting.
    3
  792. We’re in much worse shape than 2007. Double the sovereign debt. Government, businesses and individuals leveraged more than ever. And inflation raging.
    3
  793. Which town?
    3
  794.  @Kevinw4040  Exactly. Rates need to be higher than inflation. I think the Fed should have started to normalize after the hard lockdowns ended in May 2020.
    3
  795. When producer inflation is 11%, retailers can only absorb so much. But higher prices lead to less consumption.
    3
  796. Spot on. But the voters and politicians will never approve this course of action
    3
  797. 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.
    3
  798. If this ever turns out to be an all out war, I pick Russia. Their historical willingness to accept suffering and persevere is hard to ignore.
    3
  799. Meh. I would much rather have a $200,000 mortgage at 8% than a $500,000 mortgage at 3%.
    3
  800. Hey Nick, what’s the latest on the Fed trying to unload its $3 trillion in sub 3% mortgages? At a market rate of 7.4%, they must be significantly writing down this portfolio.
    3
  801. Just wait until we can’t raid the SPR anymore.
    3
  802.  @Whatsagooner  Well, most of the payment goes to interest and taxes. And worse, houses are likely gonna be down 50% in a couple years.
    3
  803. Nick, you are spot on and have an excellent understanding of finance and economics. The ugliness hasn’t even begun yet.
    3
  804.  @jesse_-  We’ll see. Home prices are sticky, but once they start falling there could be a ton of shadow inventory hitting the market. It could turn into a rout quick - especially if the Fed continues to raise rates and unloads mortgage bonds.
    3
  805. 1776 - 1982: $1 trillion in accumulated debt 2024: $1 trillion in added debt every 100 days
    3
  806. Good stuff as always Max! 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
  807. Until we get back to 2019 prices or below, we won’t even consider buying. It’s way out of whack. Way worse than 2008.
    3
  808.  @michaelhill8441  Um, no. You can’t sign what’s not sent to you. Thank God for Gingrich. But also kudos to slick Willy for signing it. We need to get back to those bipartisan balanced budget days. I just don’t see it happening.
    3
  809. Just look at any chart that compares mortgage rates compared to home prices over the last 25 years. Lower and lower mortgage rates have fueled the housing boom. Everytime the Fed tries to normalize rates, home prices crash.
    3
  810. When I saw what we were doing to deal with Covid (lockdowns and trillions of deficit spending), I knew this would be the final straw on this Ponzi scheme economy. We’re just dead man walking now.
    3
  811.  @YousefBenIsreal  We’ll see. The Fed has a long road of rate hikes ahead to bring down inflation. They have $3 trillion in mortgages to unload. Household budgets are being destroyed by inflation exceeding raises. Student loan payments likely to resume soon. Layoffs starting to become more common. Government debt at unsustainable levels where just 10% interest would wipe out all tax receipts. As Jamie Dimon said, there is an economy hurricane barreling down on us.
    3
  812. 100% a Ponzi scheme. Using a money printer to buy your debt fits the definition pretty well. Inflation, then hyperinflation then complete monetary collapse.
    3
  813. It’s gonna get a lot, lot worse. Like game over worse. We’ve finally run out of road for the can.
    3
  814. Aussies have these freaks too?
    3
  815. Where can you get a home under $400k?
    3
  816. I didn’t like Leland on Fox either. He annoyingly interrupts his guest.
    3
  817.  @esteban1487  My point is the last time we had 5.25% rates, home prices were 50%+ cheaper and that’s where they are going soon…watch.
    3
  818. 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
  819. Morning Max!
    3
  820. This is the way it is in Oregon. Homeless camps everywhere that resemble small plane crashes.
    3
  821. I can only deal with the Taco Bell drive through once a month. The thought of going there a few times a week sounds miserable. And who just gets a single taco?
    3
  822. No, and they also didn’t forget 1980 $28,000 homes.
    3
  823. Two choices : pop all the asset bubbles and put us in a recession or let inflation continue to get worse. Both are effectively the same, just different winners and losers.
    3
  824. Just wait until UT starts taking their full allocation.
    3
  825. It’s not his fault. Pete and Chasten heard the words “Toxic Train” and made a b-line for “Steam DC.”
    3
  826. Trillions upon trillions of deficit spending and stimulus.
    3
  827.  @zomgoose  Got it! Yes, true that!
    3
  828. Defund the police, open the border, biological males in women’s sports, and now support for terrorists. Are Democrats EVER on the right side of history?
    3
  829.  @edbop  You think there’s $9 trillion in demand for government debt assets than pay less than 3% when inflation is 8.3%?
    3
  830.  @danielosullivan7940  Have we really even tried? Biden should be brokering for peace, not picking sides and funding and escalating a war.
    3
  831. Average car loans are nearly $50k. Ironically, that is more than the average home loan the last time inflation was this high.
    3
  832. You know there’s real problems coming soon when Peter Schiff starts getting mainstream airtime.
    3
  833. In all fairness, the Fed has done a pretty good job of kicking the can down the road. They “bought” us out of the GFC with QE and record low rates. They doubled down on that reckless policy during Covid. Combine that with multi-trillion dollar deficits every year on top of $30 trillion already accumulated and the collapse is going to be biblical.
    3
  834. If Q2 shows another contraction in GDP the recession started 1/1/22.
    3
  835. I see lots of AC units. Mariupol must get nice in the summer?
    3
  836. True but only after they have no equity left. They will try to sell first until they have no equity left. But once the panic starts, most equity will dry up quick. This is eventually going to be worse than 2008.
    3
  837. When you redirect water flow from its natural habitat, there are always nasty unforeseen consequences. Just look up the history of the Aral and Salton Seas.
    3
  838. Brandon says all those out of work car mechanics can just learn to code.
    3
  839. @Kevin Schmidt I agree. I think it could start to snowball downward quick.
    3
  840.  @toeachitsown2050  Right, I don’t disagree. I’m just saying it’s so manipulated now that prices could easily drop 30%, 50% 80% before they bottom out. But you’re correct, as long as when you pull the trigger the numbers are affordable to you and you plan to stay for decades, then the value of the home doesn’t matter as much.
    3
  841.  @vic8189  Yes - for those lucky enough to still have a job.
    3
  842. No, not if prices were back to where they were the last time rates were 7%.
    3
  843. 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.
    3
  844. When the average American can’t afford a $500 emergency expense, how can people afford that much more each and every month? And that doesn’t include everything else that’s skyrocketed.
    3
  845. Not if Barry Hussein has anything to do with it.
    3
  846. Using a central bank money printer to buy mortgages and government debt should be illegal.
    3
  847. …and smokes
    3
  848. Putin’s fault. SMH
    3
  849. Dan, do you have to get permission to explore those beautiful places or can anyone check it out?
    3
  850. He is so spot on. The left used to represent fun and being a free-spirit. Now they are bunch of oppressive control freaks that want to cancel and ban free speech and everything else.
    3
  851. How about instead of funding and escalating a proxy war we have no business being involved in, we instead use those funds to shore up Medicare and social security?
    3
  852.  @CV-nn7jj  Maybe slightly if the tax assessment goes down.
    3
  853. People are either too dumb or naive to understand that the national debt belongs to and will eventually be paid by the citizens in one way or another. The only way to try to avoid this guaranteed financial ruin is to get to a stable country with relatively low debt. Everyone else will have such high taxes and low services life will be miserable to say the least.
    3
  854. I agree - but they will get bailed out like the student loan deadbeats.
    3
  855. Home prices will be down 50% in 2 years. Some markets even more.
    2
  856.  @spg5658  The money will be drying up. There’s a massive debt bubble and the Fed is tightening. You must work in the housing industry. In my market in Oregon, at current interest rates renting is about half the price of buying. And that’s before all the other expenses and repairs that home ownership brings. The only argument I can see for home ownership at these prices and rates is you might be able to squat for free in your home for awhile because there’s going to be a mountain of foreclosures to process in a year or two.
    2
  857. You see being too humble Dan. They are all good episodes!
    2
  858. Finland beat the USSR
    2
  859.  @janharnagel1352  Agree 100%. I’m not happy about Russia’s aggression but the US has no business funding and escalating the war.
    2
  860. Excellent video. Almost all the Fed’s nearly $10 trillion balance sheet has been created since the GFC. This massive asset purchaser has kept markets artificially afloat.
    2
  861.  @mayor399999999999999  You’re exactly right. Fed and congressional housing support and manipulation has been the same as taking trillions from the poor and giving it to the wealthier homeowners.
    2
  862. One of the reasons Peter Schiff is so credible is he is consistent. Using a money printer to buy trillions in debt can never end well. Inflation is the natural result. Next is hyperinflation, then a total collapse of the dollar.
    2
  863. FF rate at 2% means 10 yr yield 3.5-4% which means mortgages 5%+ which means home prices crash big time.
    2
  864.  @BrisLS1  I suppose anything is possible. But the Fed is already admitting high inflation just as ruinous as high unemployment. People on fixed income will demand it. They have no choice but to fight it. And that means popping bubbles and crashing the economy. The economy is probably already hemorrhaging housing jobs, many other sectors to follow shortly.
    2
  865. Of course the Fed knew all along inflation wasn’t transitory. It is their monetary policies that created it!
    2
  866. 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
  867.  @Artsal1984  Well it is ridiculously overpriced. Covid policy turned the market on its head. But like everything the housing market is complicated and manipulated with competing variables.
    2
  868. Mandatory vaccines, green mandates, forced business shutdowns, open borders, massive expansion of the welfare state. It’s almost like they are destroying the country on purpose.
    2
  869. The stock market is up because inflation is way up. Anything denominated in dollars is going to be pricey right now. It doesn’t mean these things are worth more, it just means the dollar is garbage.
    2
  870. I agree. Why would anyone buy a risky asset that pays only 2.5% whey inflation is 8.5%? I bet the Fed doesn’t get very far unloading that crap before rates skyrocket and the debt markets start to go haywire.
    2
  871. Big 3 reasons for housing market crash in next 6-12 months: 1. Mortgage foreclosure moratorium ending 2. Ending $40B/mo in MBS purchasing 3. Interest rate rising. It’s gonna be brutal!
    2
  872. I live in the area too and think Oregonians are gonna be in for a very rude awakening once the job losses accelerate and government stimulus programs start drying up. Not to mention, portland isn’t nearly as desirable as it used to be.
    2
  873. Here’s something scary to think about. Home prices started to fall in 2006. But they didn’t bottom out until 2012. When prices start to fall they will likely fall for years on end trapping many homeowners who don’t have paid off mortgages.
    2
  874. Don’t cancel the pro-Palestinian rallies. We need to be able to identify and track these terrorists.
    2
  875. We’ve been robbing from the future to manufacture artificial prosperity for decades. An imminent black swan is a guarantee.
    2
  876. The only “multiculturalism” that succeeds is multiculturalism of indigenous Northern Europeans and far eastern Asians.
    2
  877.  @jaredrice4612  It’s an estimate. Tightening will cause higher rates and will lead to home cost increases and a recession. A recession will cause millions in job losses. Job losses will cause a spike in foreclosures. It’s gonna get ugly real soon.
    2
  878.  @dct1238  No, that’s not why. It’s pandemic shortages holding up production. And dealers are now making a killing selling for over MSRP since there are so few cars.
    2
  879. I remember when our Safeway had a fallout shelter.
    2
  880. Thomas Jefferson expressed his worries to James Madison that debt imperiled the possibility of self-government: if one generation’s “debts & incumbrances” can be charged to a later generation, “then the earth would belong to the dead & not the living generation.”
    2
  881. I suspect these Hamas/Palestinian supporters/protesters in the US are less than 1% of Americans. They are just the unemployed losers who have time for this nonsense.
    2
  882. I guess when you just abandon for dead your wounded your VA saves a lot of money in future years. So there’s that.
    2
  883.  @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
  884.  @rickg.5171  I agree. But even if Latino support drops, it will still be a majority for Dems overall. Hopefully they will see that open borders hurt everyone but the people exploiting them.
    2
  885. That will never happen. Just too much debt to service. I highly doubt the Fed will even get to 5%.
    2
  886. I’m 54 and my whole life we’ve been repairing roads and bridges and building plenty of new ones. “Infrastructure” is just cover for boondoggle spending.
    2
  887. I agree with your assessment 100%.
    2
  888. Money printer off by March combined with 3 rate hikes? 2022 gonna be interesting…
    2
  889. The US has been AVERAGING nearly $2 trillion annual deficits since the 2008 recession began. That’s what has kept recessions at bay ever since (and that’s not a good thing).
    2
  890. I love MTG and the USA!
    2
  891. How can idiots like Biden and Pelosi pretend to be Catholics? Catholic religious doctrine calls abortion murder and an ultimate sin.
    2
  892. @ Judens!
    2
  893. @ More than likely we’ll pay it back. Just in deeply devalued US dollars.
    2
  894. Wrong answer. That’s the problem. Money printing leads to dollar devaluation. That leads to a loaf of bread costing your whole $1500 SS checks. Look up what happened to the Weimar Republic when they used money printing to meet government expenses.
    2
  895.  @fixitright9709  Not really. Germany was forced to pay huge debts for WWI. This was a huge drain on resources so they started fiat devaluation to make up the difference. No different that what’s going on in the US today. If we don’t get our budget deficit fixed, our currency will do the same thing.
    2
  896.  @fixitright9709  Agree 100%
    2
  897. Using the FDIC as a underfunded shell company to bail out SVB is NO different than a direct bailout.
    2
  898. 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
  899. Here’s a fun fact: the USA is currently running $3 trillion annual deducts. That’s the equivalent of 30 MILLION JOBS that only exist due to added debt!!! So add those to the 7 million…we are all so hosed.
    2
  900. For the older folks, Dollar Tree should now change their name to “Ten Bit Tree.” Ten bits sounds like a much rounder number than $1.25.
    2
  901. We think things are rough now not being able to get a car due to chip shortages. Wait till next year when there’s no food due to Ukrainian grain shortages.
    2
  902. Good lesson. Don’t ever be a landlord in a liberal city.
    2
  903. Hard to follow rules when your opponents are medieval savages who know no such rules.
    2
  904. The sooner the better. But austerity will be very painful for many people. I just don’t see voters or politicians allowing the necessary cuts.
    2
  905. But isn’t a 50% increase followed by a 5% decrease still a massive 45% increase in just a short time? But yeah, I don’t see the Fed getting very far in unloading their $9 trillion balance sheet before the wheels fall off.
    2
  906. Well, it doesn’t exactly take a rocket scientist to see the market is heading lower big time.
    2
  907. People who decide to sell don’t always buy another home. Many decide to sit on the sidelines and rent a few years watching the crash play out.
    2
  908. Those above ground branches at the base of that $17M tree are wicked looking.
    2
  909. This is all in the democrats plans. “Necessary evil” to force us out of our care.
    2
  910. There is only a hard, ugly landing. The corporate and personal bankruptcies will start hitting this summer.
    2
  911. The Fed has two choices. Fight inflation and crush wealth OR ignore it and create Venezuela style inflation and product shortages. They take their marching orders from the uber-wealthy but the common folks will be the ones who go full on Mussolini on US leadership when there's inadequate food.
    2
  912. Tina Tinto! Say her name!
    2
  913. Well of course they used Covid funding for CRT. Most Covid funding were to support liberal causes like schools, state and local government public unions, and public union pension bailouts. It should have been criminal.
    2
  914. …for now anyway.
    2
  915. Agree on every point but the start button. It’s nice just leaving the key fob in my pocket.
    2
  916. Between the Holodomor and making 10% of Ukraine permanently uninhabitable, haven’t the Russians hurt the Ukrainian people enough?
    2
  917. It’s been unsustainable since we went off Bretton-Woods. It’s just nobody realized this Ponzi scheme could last this long.
    2
  918. I don’t know why anyone would stay in that garbage dump of portland metro. Toxic politicians, homeless, trash, graffiti and drugs everywhere. Sad cause portland has natural beauty but ruined by liberals.
    2
  919. No, people taking equity out of their homes don’t have anything to do with the bubble. The bubble is from record low interest rates, Fed mortgage bond purchasing, and massive deficit spending.
    2
  920. They will be paying big money to get rid of them.
    2
  921. There’s an easy way to avoid these shenanigans. Just live at or under your income.
    2
  922. Trump’s corporate tax cuts unleashed record employment levels and prosperity. Dems want to reverse that.
    2
  923. I just don’t understand how unduplicated alpha numeric codes with no underlying intrinsic value can be worth trillions. Yes inflation, government spending and debt are out of control but this is Dutch black tulips on steroids.
    2
  924.  @gizmo7365  I’ll have to read that. To me, crypto just seems like a hedge against out of control spending and central bank madness. If countries had their fiscal shit in order, crypto would have no value. But I do believe fiat currency collapse is inevitable at this point. We are well past the tipping point of insanity.
    2
  925.  @gizmo7365  Ahhh. Newspapers and personal checks. And record stores, album art. Friday nights at blockbuster. Cashing your paycheck into $1 bills. Being forced to go dancing to get dates instead of fake online stuff.To be young and liberated again…
    2
  926. Of the irony. DEI is just a Trojan horse for a conservative hiring ban.
    2
  927. Mortgage rates up 70% and poised to go higher. No more buying MBS. Rise in exotic mortgages. Home prices at record highs. Recession on the horizon. What could go wrong?
    2
  928. Corrupt officials like Yellin admit debt is a problem but they try to justify it cause rates are low. We should be using the savings from low rates to pay down the debt not as justification to add more debt!!!! No household or business would operate that way - especially if you had to constantly re-issue debts. Pure idiocy!
    2
  929. Why isn’t the Fed restoring reserve ratio requirements that were reduced to 0% to deal with Covid?
    2
  930. Nancy and the rest of these corrupt democrats are most interested in starting WW3 than helping the homeless in their own neighborhoods.
    2
  931. We blamed racism and cops for US blacks crimes so I guess it makes sense why some people want to make excuses and blame Israel for Palestinian terrorist crimes. The world has gone completely upside down.
    2
  932. Good stuff as always Mark. Inflation is NOT transitory and will get worse just I’m still not sold on BTC mainly due to potential government crackdown and their need for control.
    2
  933. 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.
    2
  934. The more devalued the dollar, the higher the stock market valued in dollars will be. That’s how. So it’s a rich v poor issue. And so far, the Fed has always chosen to help the rich. Let’s see if they actually follow through with their rates hikes and QT…but I just don’t see them getting very far before the wheels fall off.
    2
  935. I knew there was a good reason I couldn’t stand Dave Ramsey.
    2
  936. Mike Rowe and Tim Allen give me hope that there’s still strong men in America.
    2
  937.  @joek2293  It’s starting to crack. 100k in high paid tech jobs is a lot. And there’s a ripple effect. Walmart just raised their minimum wage over 10%. This will ripple through as higher inflation - meaning the Fed is going to be raising rates and dumping mortgages for some time. After racking up $10 trillion or so new debt to deal with civic and bail out the GFC, there’s not a lot of runway left to spend our way out of the next crisis.
    2
  938.  @joek2293  Good points
    2
  939. My only surprise is why everyone didn’t see this coming. Fed action (and record deficit spending) created this bubble.
    2
  940. Shelter should be mandatory. We can’t have people living on the streets. Why is this so hard?
    2
  941. That take makes a lot of sense. Just keep cooking the books and lying to us until the whole house of cards collapses. Transitory inflation, Putin’s price hike, supply side, debt doesn’t matter, trade deficits don’t matter, global warming, and so many other lies to keep the blame away from where it really belongs.
    2
  942.  @JaydogRules-q6w  1) artificially low interest rates, and for way too long 2) government stimulus even worse than post 9/11 3) ARMs 4) Greed 5) QE on steroids with Fed buying $3T of mortgages 6) investments in traditionally struggling neighborhoods (aka community reinvestment act in 2005). 7) Economy artificially buoyed by unsustainable trillions upon trillions of deficit spending 8) people and businesses over-leveraged 9) “normalization” of interest rates There are many more. Those are just off the top of my head.
    2
  943. Why is Qatar harboring Hamas terrorist leaders? Do they really want to get dragged into this conflict?
    2
  944. Sometimes it’s better to pay off the lease before you immediately sell it.
    2
  945. 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.
    2
  946. In Salem, Oregon our smaller gas stations are turning into medical marijuana dispensaries. Most people are getting gas at the mega gas stations like Costco, Fred Meyer, and Safeway.
    2
  947. Agreed!
    2
  948. “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” Alexander Tytler in 1787 That is the current state of the USA to a T.
    2
  949.  @rtqii  Hubris is the number one reason superpowers get their a$$es handed to them.
    2
  950. Stock and housing will both be down 50% in 2 years.
    2
  951. If there was a world underwriter, would they even approve a loan to the US given that that accumulate debt each and every year?
    2
  952. We’re playing with fire. At some level of debt, the whole house of cards collapses. It could happen any day.
    2
  953. I still think we are wrong to solely blame teaser rates, liar loans, etc as the cause for the 2008 housing crash. Ultimately, the sharp reduction in prices is what caused the crash. Many folks just abandoned their homes once they found out their were upside down tens of thousands of dollars. That’s going to happen again.
    2
  954. @Senior Housing Analyst Isn’t that what I said? Grossly inflated prices = sharp reduction in prices. And that causes a ripple effect where folks start abandoning their homes.
    2
  955. @Senior Housing Analyst Right but grossly inflated prices just need a pin prick to start the free fall. And there are pins floating around everywhere now. Fed policy, inflation, economy, Covid, change of tastes, taxes, jobs, so much more.
    2
  956. The Biden administration is only pushing for a pause because they are worried about the 2024 election.
    2
  957. When prices start dropping that could trigger a rush to cash out, and that could easily turn into a rout. Even bigger home prices drops than 2008. And, due to continued high inflation, the Fed and the US is more restrained in how much they can help.
    2
  958. He’s proved his point how biased and corrupt Twitter is. Cut the cord and let Twitter stock collapse.
    2
  959. That outlet mall looks new.
    2
  960. Nick is a wizard at disseminating and analyzing relevant data.
    2
  961. Biden is such an idiot. How in the hell could raising a businesses costs (taxes) result in lower prices? A: it wouldn’t.
    2
  962. I think the markets are drunk with Fed support creating market floors which caused the recent rally. I think this war is going to go on awhile and create major market disruption problems.
    2
  963. Syria, Iraq, Afghanistan, they are all pretty pointless.
    2
  964. Charles Payne should be voice of black America, not BLM or corrupt fools like Obama and Maxine Watters.
    2
  965. Either the Fed does nothing and lets the dollar become worthless or they use their tools to stop high inflation and pop all the bubbles they created and collapse the economy. Those are the two choices at this point.
    2
  966. If the 2023s turn out to be a huge hit, the value of that body style could make a significant drop in value.
    2
  967.  @UntamedMotors  Toyota and Honda have been widely using Turbos with great reliability and success. Plus, a turbo will greatly improve fuel economy. The biggest risk to the current body style is if the 2023s have a “wow” effect with extra curbside appeal and tech and ride improvement comforts. We’ll see…
    2
  968. I was raised Catholic and if I remember one thing it’s that killing and abortions were the ultimate sin and evil beyond comprehension. The fact that Biden and Pelosi both are pro-abortion yet claim to be Catholic is the ultimate in hypocrisy.
    2
  969. Our current economy has been kept artificially high over the last couple decades via massive unsustainable deficits.
    2
  970. What’s the % black in all Ten of those cities?
    2
  971.  @neuropuritan_zealot8455  What does that even mean?
    2
  972. Have you paid attention to the bond market the last couple months?
    2
  973. And the Americas are Indian lands. But obviously that ain’t changing. Neither is Israel.
    2
  974. Biden is on record as saying the less white America is the better.
    2
  975.  @crp9985  Not really, most loans WERE sold to the Fed and they just stopped buying them.
    2
  976. The only organizations that are “price gouging” are the government agencies and quasi governmental organizations like universities and the medical establishment. They are monopolies!!!
    2
  977.  @k8aitch78  I get it. You are I are like minded. Sorry if I came across insensitive or harsh.
    2
  978. I agree. Just I’m not even sure we have 12-18 months left before this all blows up on us. It’s gonna be ugly.
    2
  979. What a dbag this guy is.
    2
  980. I wish someone would be honest about how this plays out. There will be no balanced budget. The debt and debt/GDP will continue to increase. What’s the end game?
    2
  981. The $2 trillion in annual red ink the country is running is the equivalent of 20 million $100,000 year jobs. Can you imagine what would happen if the country had to live within its means?
    2
  982. 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
  983.  @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
  984. The Fed completely F’d up the housing market. They never should have kept rates at 0% for 2 years or bought $3 trillion in mortgages. Now supply is stagnant because nobody wants to give up their sub 3% mortgages. When prices start falling faster, I suspect will want to cash out.
    2
  985.  @thomasnovia9828  Oops! Good catch. Passed.
    2
  986. I highly, highly doubt Jeremy Siegel will ever see the Fed’s target rate of 2% ever reached again in his lifetime.
    2
  987.  @JohnSmith-mo4yh  There are pros and cons to both. I mainly buy silver because it’s cheaper. But I think it would be wise to own both. Plus anything else to help you survive like ammo, farmable land and seeds that are storable. Sad we have to ponder these things isn’t it?
    2
  988. When Peter Schiff gets airtime, the collapse is no longer able to be ignored.
    2
  989.  @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
  990. Covid was such a ruinous scam. I bet if we did nothing, no shutdowns, nothing. Just let people make their own decisions on their health that not many more people would have died. But guess what? Covid was used as cover to give state and local governments trillions. Schools hundreds of billions. Public pensions dozens of billions. Student loan forbearance and cancellations. Pump billions into democrat run organizations. Rent relief. Etc etc etc. Like Rahm said, “don’t ever let a crisis go to waste.” Hell, state workers are STILL working from home.
    2
  991. Yellen Sunday afternoon: “There will be no bank bailouts!” (Yellen gets call reminding her how many rich Democrat donors have accounts at SVB) Yellen Sunday night: “All uninsured bank customers will be made whole at taxpayer expense!”
    2
  992. And it will
    2
  993. Br continuing to raise the stakes in the Ukraine War, Americans should be scared.
    2
  994. You’re right only that it’s going to be a several decade problem. We’ve been living way above our means fueled by the money printer and massive deficit spending since 2008. Now it’s time to pay.
    2
  995.  @squidtrader7973  I don’t know. There are decrepit vehicles parked either illegally or as a nuisance everywhere on the west coast. There’s even a semi cab who parks on my street who runs his generator all night because he’s probably sleeping in it.
    2
  996.  @stevethomas5209  It’s pretty dry in that part of Oregon most of the year. Cabbage hill gets some nasty storms that close I84 frequently in the winter. Before I84 was built my dad has the only 24 hour service station on the main road through town. Hal’s Hamburgers has great burgers and shakes. I wish I could think of the restaurant/bar you are referring to. That area has a relatively positive historical relationship with the native Americans keeping those positive spirits alive! Thanks for the story!
    2
  997.  @Dc-oe8qe  No. Times were pretty harsh back then and they had to unload the property super cheap. Sad.
    2
  998.  @stevethomas5209  You too! I can’t thank you enough for the work you do! I looked up WCP on US 160. 11,000 feet! Yikes! Now I want to drive it. In a car in the summer tho. Take care! Jeffrey
    2
  999. So embarrassing to be an American during this administration.
    2
  1000. The economy and earnings are addicted to unsustainable multi-trillion dollar federal budget deficits. The hangover is gonna be painful and long.
    2
  1001. One prices start falling, they will fall for the rest of the decade.
    2
  1002.  @29outlaw  Most won’t sell. But it doesn’t take very many to panic sell to try to save their equity to cause a big drop off in prices. Don’t forget, home prices are determined by just a tiny amount of homes being for sale at any given time. If the number of homes for sale just ticks up just a little bit, it could quickly cause a rout.
    2
  1003. When did cackles earn a military degree with a focus on acceptable civilian casualties of war?
    2
  1004. Student loan pause is such a scam. And so were rent and mortgage moratoriums. Most people made MORE money during the pandemic even if they lost their jobs. If these people can’t pay their loan obligations at 3.6% unemployment, how exactly are they going to pay when the bubbles pop and we enter the imminent recession?
    2
  1005.  @TheUmbrex  Huh?
    2
  1006. There is no soft landing. Fed policies and massive deficit spending created these bubbles. Any reversal will pop them.
    2
  1007. Sure, but using the money printer to bail out our fiscal woes is the quasi equivalent of default. That’s obviously what we’re gonna do though. Actionable Austerity or default won’t happen as our politicians are way too sleazy for that.
    2
  1008. Dan, I’m glad you are polite to the homeless. They need help and they aren’t getting it. Giving them help would mean giving up many of their freedoms, however. That’s a fair cost for those that can’t care for themselves.
    2
  1009. Larry Kudlow pointed out something interesting this morning. He said whenever oil spikes in price, Russia’s coffers fill up to feed its war machine… >Oil spiked in 2008: Putin took Georgia >Oil spiked in 2014: Putin took the Crimea >Oil spiked in 2022 (thanks to Brandon’s anti-fossil fuel agenda): Putin invades Ukraine
    2
  1010. 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.
    2
  1011. The quickest way to close an Apple store is to unionize it.
    2
  1012. 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
  1013. That first nuclear town is pretty bad too. Drove through there last summer. Boise seems like California now with all its crazy drivers.
    2
  1014. Covid monetary and fiscal policy sped up the impending world economic collapse by decades. It’s gonna get a lot worse at a quicker and quicker pace.
    2
  1015.  @jgg204  True but QE is a post Great Financial Crisis construct. And its $8.5 trillion balance sheet is unprecedented to anything else done in history.
    2
  1016. Do you want that used, depreciated motor home parked out front of where you live? That is becoming an ugly issue in more and more neighborhoods.
    2
  1017. Insurrection! Give these people 20 year prison terms!
    2
  1018. I wouldn’t buy any of these homes at 50% off.
    2
  1019. It’s been a good run. 51 year old Ponzi Scheme since the US went off Bretton-Woods. We “successfully” robbed $30.1T from younger Americans and promised another $125T in benefits that haven’t been funded. $155T. That’s the equivalent of making 155 million US households millionaires by sticking younger Americans with the tab. Our founding fathers warned us about this.
    2
  1020. I think part of the reason people are just resigning is many people have fat savings accounts (extra unemployment, Covid bonuses and shift differentials, overtime). Plus, programs like Obamacare make it much easier to be unemployed. In addition to that, I suspect people are losing confidence in the system. The debt, the corrosive politics, the homeless and filth everywhere. People are just ready to pull their chips off the table and chill and watch the fireworks from the sidelines for awhile. Might as well have fun during the collapse.
    2
  1021. Oil is only going down because the futures market has been pricing in a greater and greater chance of recession.
    2
  1022. Granholm (and Biden) are such idiots. It’s their hostilities toward fossil fuels that created this mess.
    2
  1023.  @danielvalenzuela8814  Don’t forget the $2 trillion in student loans.
    2
  1024. They sure have nice cars for such an impoverished country.
    2
  1025. The US is in the midst of the biggest Ponzi Scheme in world history. Our founding fathers warned us debt would be the end of the republic.
    2
  1026. Where does the Biden administration find such incompetent zero added value officials like this? Hiring and putting people into important jobs based solely upon race and gender is despicable!
    2
  1027. The US Federal government has been averaging trillion dollar plus annual deficits since the great financial crisis. That Ponzi scheme is the only thing keeping the economy from completely crashing. Debt is finite so who knows how much longer we have. The French Revolution happened when debt payments were about 50% of revenue. The US is getting close
    2
  1028. I’ve heard many stories of folks just hoarding the money they would normally use to pay rent.
    2
  1029. Art Laffer is awesome.
    2
  1030. Once home prices start falling, they will continue to fall for the rest of the decade.
    2
  1031. Q: Who is buying the US debt? A: The Fed money printer. Q: Will the US get its fiscal house in order anytime soon? A: nope Expect more and more money printing and higher and higher inflation. Maybe even hyperinflation.
    2
  1032.  @cherrygarciafan  What is wrong with you? Where do you think the Fed got the money for its $9 trillion balance sheet in treasuries and mortgage purchases? They created it out of thin air!! Go take an Econ class and educate yourself.
    2
  1033.  @Useless_Knowledge07  As Reagan surmised after the US hit $1 trillion in total debt in 1982: “$1 trillion is a stack of $1,000 bills 67 miles high”
    2
  1034. 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
  1035. 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.
    2
  1036. So sick of the Brandon regimes lies. Dude was bragging yesterday about his deficit reduction, and that only happened due to phase out of trillions in one time Covid funding and the failure of his $3T BBB boondoggle. And inflation isn’t due to Ukraine war and supply shocks. It’s due to record deficit spending and money printing.
    2
  1037. It would have been pretty easy to estimate a SVB assets mark to market adjustment. This haircut should have been applied to all SVB deposits over $250k. Bailing out the wealthiest Americans in the Silicon Valley was the ultimate FU to working class and ordinary Americans. People should be protesting this injustice en masse.
    2
  1038.  @poncedeoly469  There several Covid “stimulus” packages from $1-3 trillion each. They were funded with debt and money printing. And you’re right, we also spend way too much on defense.
    2
  1039. @RC-fi4ix That’s the definition of government debt. There’s $32 trillion that was overspent without any associated revenue tied to it. That $32 trillion will need to come from future taxation with no associated benefit for those paying.
    2
  1040. I bet 50% of PPP loans were padded, inflated or otherwise fraudulent in some way. Interesting that originally 90% of the funds had to go to pay your employees but they reduced that to 50%. Wealthy doctors, law firms and so many other businesses that didn’t need the money applied and received billions.
    2
  1041.  @newmankidman5763  Ah ha! I see your point. I should have changed the the first use of the word “hired” with “interviewed.” Thank you!
    2
  1042. There is no greater person to appreciate what America was founded upon than someone like Ayn Rand that was forced into poverty because the State nationalized the family business under communism.
    2
  1043. Sarah is a smoke show. Great dress today.
    2
  1044. Isn’t this the crazy woman who gave Hilary the debate questions?
    2
  1045.  @shawnanderson7858  Home, utility and insurance prices are even worse.
    2
  1046. The gays hijacked and piggybacked the BLM movement in America. But gays joining forces with a radical Muslim group? That’s funny.
    2
  1047. Are Biden and others even trying diplomacy? Tucker is right.
    2
  1048.  @jeepstergal12  True, I think the road for the can kicking has come to an end.
    2
  1049. Nick, I think you are scaring a bunch of realtors and others in the home biz. They are starting to post YT videos disputing your solid analyses.
    2
  1050. Is anyone surprised Yellen continues to lie about the facts? Grandma needs to go.
    2
  1051. Peter is the best. He should be running financial matters for this country.
    2
  1052. That lady is a complete idiot. And this video is nonsense.
    2
  1053. The taxpayers BETTER NOT be on the hook to pay for those idiots who let their insurance lapse.
    2
  1054. If people want to see just a small window of what’s coming, just have the government run a balanced budget for a couple years. The economy is being propped up by a debt Ponzi Scheme. I don’t it can continue for even 5 more years before some serious problems start to occur.
    2
  1055. Nobody is “complaining” about 5%. They are complaining that houses aren’t (yet) priced for 5%. That will happen soon…
    2
  1056. 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.
    2
  1057. God is great, beer is good, and people are crazy. No truer words have ever been sung.
    2
  1058. Portland is scum. Burn it all down.
    2
  1059. The whole housing bubble since the GFC has been QE Fed buying of mortgages and treasuries and other government intervention like foreclosure moratoriums and other fiscal support. Once this support goes away and rates normalize, house prices will crash.
    2
  1060. How does Israel not drop Nukes on Iranian targets after this?
    2
  1061. EVs are garbage and not the future of propulsion. They will never get beyond a niche for the wealthy and the greenie weirdos.
    2
  1062. I don’t care that much about humans but we gotta have different places on the earth where American Bison can run free. That is worth saving.
    2
  1063. The economy (and asset prices) are kept on life support with our unsustainable multi trillion budget deficits. Once that ends, game over.
    2
  1064. When you elect senile corrupt Brandon that campaigns from the basement who subsequently nominates a leadership team based upon woke checkboxes, this is the expected end result.
    2
  1065.  @panoscorfu1974  China, India, Turkey and other countries stand to get discounted fossil fuels and other benefits if they stay neutral. And Africa? Please, they have too many other problems to worry about. NATO has always been a defensive only organization. I wish Russia would recognize this. But I can also understand why Russia is not too keen on western customs, especially recent ones. If the US had a strong leader, he could have sat Putin and Zekenskyy down before the war and helped broker a deal to avoid war. Now we’re only a miscalculation away from full on nuclear catastrophe. We’ve already guaranteed a food catastrophe.
    2
  1066. We’re screwed. Using the tools available to fix inflation would cause a severe recession or worse.
    2
  1067. The Fed didn’t used to be so risk averse and incompetent. Recessions are a normal part of the business cycle and clean out the zombie companies are other poison in the system. But now the Fed is on perpetual money printing and accommodative policy delaying recessions boxing themselves in the corner that they won’t stop inflation because they can’t. The next recession is gonna be a doozy.
    2
  1068. No war, no crisis, no pandemic, full employment, record stock market, and yet the US still needs $2 trillion annual deficits to keep the economy on life support.
    2
  1069. The left hasn’t been this triggered since they killed Lincoln for taking away their slaves.
    2
  1070. I won’t buy an EV until it’s just a convenient as an ICE. Long range, 2-3 minutes to fully charge, charging stations as ubiquitous as gas stations are now and so on. Yes there are some other benefits to EV but that’s what common folks will want. I see Tesla as just a snobbish, elitist, virtue signaling niche vehicle that will struggle to appeal to the masses.
    2
  1071. JC is top shelf!
    2
  1072. Cool!
    2
  1073. Agreed! But inflation is not going away that easy.
    2
  1074. Housing will be 50% lower in 2 years.
    2
  1075. There are TWO genders as scientifically determined at birth by your 23rd pair of chromosomes. But feel free to play dress up time and mutilate your genitals all you want.
    2
  1076. And they about to spend billions more bailing out deadbeat college loan takers.
    2
  1077. In all fairness, the Fed created the bubbles so it’s only natural that Fed policy reversals will tank everything. It’s gonna be UGLY
    2
  1078. 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
  1079. 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.
    2
  1080. All so predicable. Shut down economy and send people trillions. At some point panic will set in. It’s going to get a lot worse.
    2
  1081. Thank you Elon for exposing the corruption and canceling of free speech at Twitter!
    2
  1082. Why stop the war when Brandon gets a 10% tribute for everything sent to Ukraine? This game of escalatory chicken won’t end well.
    2
  1083. Northern Europe should know better than let Muslims in their countries. Just mini versions of 10/7.
    2
  1084. There’s lots of reasons to expect this housing crash to be far worse than 2008. Prices are much higher, US debt is much higher and the Fed fighting inflation by raising rates and unloading debt assets (treasuries and mortgages) will all put significant downward pressure of home and other asset prices. If the job losses start to accelerate, it could easily turn into a rout.
    2
  1085. A lot of damn nice and newer cars for a place that’s supposedly poverty stricken.
    2
  1086. It would never happen but I would like to see the debt ceiling raised to say, $30 trillion then force the government to manage to that number, knowing it will never be raised again.
    2
  1087. Guy is clueless.
    2
  1088. Exactly. At some point of equity loss, people will start panicking and try to cash out what’s left.
    2
  1089.  @RealLifeFinance  You need to take a class on how the Fed and banking work. It’s all a racket based upon the rates the Fed provides the banks capital to loan. And besides, the only rate that matters is the REAL rate, the rate less inflation. Nobody (without Fed intervention) would loan at 6% when inflation is 7%.
    2
  1090.  @njerseydavid  It’s not just about the payment. In the coming months/years, many people aren’t going to like watching their equity slowly disappear since they are counting on those funds to help fund their retirement. So they will put the home on the market earlier than they planned to try to salvage those funds. Just watch. Seller momentum is going to slowly increase until it’s a rout.
    2
  1091.  @MrSupernova111  No!!! The loan is just generally amortized 30 years BUT the average life expectancy for the loan to stay in force is 7-10 years. That’s why the 10 year bond yield follows most closely to mortgage loan rates and inflation expectations are based upon that same time frame. This is all data and information that is readily available.
    2
  1092. Peter is riding the bologna pony.
    2
  1093.  @geraldcroft9020  The problem is home prices didn’t bottom out until 2012. I bet they drop for more than 5 years this go around once the bleeding starts…but yeah, good call being somewhere there isn’t such a bubble like SLC or Boise.
    2
  1094. Go Ducks!
    2
  1095. In 3 more years the country will be so far gone it won’t be able to be saved, even by Trump. Sad.
    2
  1096. We need real rates to be positive. That means at least 9% Fed Funds rate.
    2
  1097. Boomers racked up more than $30 trillion in public debt and voted themselves pensions, medical care, and social security that’s underfunded by another $100 trillion. Yeah, I would say boomers screwed over younger generations big time.
    2
  1098. If a person can’t even decide what gender they want to be that suggests other decision making concerns at the workplace.
    2
  1099. Biden’s lies and stupidity make my head explode. He just blamed high gas prices on greedy oil companies. Gas is one of the most free market competitive things we buy. You know what’s NOT competitive? Unions and Government workers! Biden’s core constituency.
    2
  1100. 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.
    2
  1101. The Olympics used to conjure up national pride. Think of the 1980 US hockey and the national pride that created. Thanks to woke movement, and US athletes disparaging the flag and anthem, whatever national pride it created is gone. If there was any interest, it was interest in seeing woke entitled activist disrespectful US athletes lose. Sad.
    2
  1102. The ARMs are a trap. Once they start adjusting upwards, home prices will be much lower, making it impossible to avoid getting priced out of your own home. People always say “this time is different” but all the same ominous signs of the last crash exist again.
    2
  1103. In just one year Biden and the Dems have got us a humiliating surrender from Afghanistan, bloody war in Europe, 40 year high inflation, record high gas prices, millions of illegals storming across border, record crime and murders, and record deficits and debt. Oh, and Russia is threatening nuclear holocaust. But on the flip side, Trump isn’t throwing hecklers out of his rallies - so it all evens out.
    2
  1104. This level of incompetence and malfeasance can only exist is boosted government bureaucracies since there are little to no consequences.
    2
  1105.  @jameshughes131  Economics 101: too many dollars chasing too few goods to buy. During Covid, the Fed ballooned its balance sheet from $4 trillion to $9 trillion with money created out of thin air. Add to that another $8 trillion in added US debt during Covid and you will have very high inflation 100% if the time.
    2
  1106. Welcome to woke America. Top government officials chosen for diversity checkboxes and not talent and ability. Government picks which businesses will fail, which will succeed. They prioritize grant funding for businesses based on skin color and gender and other ridiculous check boxes. Forced centralized mandates based on power hungry bureaucrats greed and lust for power. And wait till the unemployment ends, the rent and eviction moratoriums end, and the dollar and asset bubbles collapse. Anybody on a fixed dollar denominated retirement will be wiped out. All will lose all their wealth and financial security.
    2
  1107. Inflation won’t subside until the Fed makes real rates positive. They don’t have the guts to do that.
    2
  1108. I think that explains why so few have put their homes on the market. People must be thinking it’s gonna get so ugly it will take a super long time to process all the foreclosures and evictions.
    2
  1109. My prediction for home prices is take what home prices were the last time mortgage rates were 7% and then adjust for compounded inflation. So, as an example, if home a home was priced at $150k in 1995, adjust that price for inflation. So using the BLS CPI inflation calculator, a $150k home from 1995 should be worth about $296k today. This is gonna get ugly.
    2
  1110. Why would lenders lend with only 1% skin in the game? Did they learn NOTHING from 2008?
    2
  1111. The Fed has two choices and they are equally draconian. Crater the economy or let inflation run amok.
    2
  1112. So make the Fed Funds rate NEGATIVE 0.25%?
    2
  1113. I bet it takes 5-7 years of home price reductions before prices level off. They will collapse 50-75% by 2028.
    2
  1114. Heat? 1 in 4 cannot afford to FEED themselves!
    2
  1115. Ya think? The Fed should have backed off once the realized stocks and housing were going nuts in the summer of 2020. Two years too late to normalize and stop the money printer. This is now going to be an extremely painful normalization.
    2
  1116. Why am I not surprised that the Brandon administration needs a Josef Goebbles/KGB government agency to tell us how to think and what we can say. FJB!
    2
  1117.  @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.
    2
  1118. The Fed never had control. QE and 0% interest rates just allowed the Ponzi scheme to go on a few more years. Now that they’ve let the inflation genie out of the bottle….
    2
  1119.  @thedadyouneverhadchannel3544  America = democratic republic. And it certainly meets the criteria where voters can vote for largesse for themselves at the expense of future voters. $30 trillion plus $125 trillion more in unfunded promises.
    2
  1120. Pretty scary when the only thing that’s happened is the money printer speed has been turned from 10 to 9. It’s scheduled to go to 0 in a couple months combined with rate hikes…
    2
  1121. The absolute best American is someone who lived under tyranny abroad. And they are the most astute and recognizing when similar tyranny arises here.
    2
  1122. Why isn’t the Fed restoring the 10% reserve ratio? And why aren’t bank assets being priced appropriately?
    2
  1123. Diana Olick on CNBC just now said mortgage rates are now 5.75% and that, combined with price increases, have increased payments by close to $2,000/month in just one year.
    2
  1124. 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.
    2
  1125. Because SS is broke. That money is gone.
    2
  1126. The dominoes are falling…
    2
  1127. The only thing that has kept this debt Ponzi scheme economy afloat since 2008 are the $1 trillion plus average annual deficits ever since, combined with the Fed ballooning their balance sheet of US debt and mortgages to $8 trillion. I don’t think people realize just how massive $1 trillion annual deficits are (eg, that’s the equivalent of 10 million $100k/year jobs). This has artificially and unsustainably kept the unemployment rate several percentage points lower than it would have been otherwise. A hard “depression 2.0” landing is a 100% certainty.
    2
  1128. 1. Fed printed trillions out of thin air 2. Government sent trillions in checks to businesses and individuals for not working 3. Productivity was massively curbed So lots more money chasing less stuff to buy. What could possibly go wrong?
    2
  1129. Pretty scary when Russia says butt out or we will blow up the entire first world. Of course, prior Cold War rules of engagement imply anything goes up to use of actual organized US military fighting Russia directly.
    2
  1130. So Mom was cut off, then a “road rage incident” then her car was shot through the trunk. What exactly transpired during the “road rage” and how did Mom’s vehicle get back in front? Not victim shaming, as this is 100% the fault of the shooter, just want to know if mom did any provocative actions that we all could learn to avoid.
    2
  1131. Thanks Max. This may sound extreme but I see the Fed’s role as propaganda ministers. Their job is to spin the data to allow them to keep the Ponzi scheme going. When Bernanke was asked how he didn’t see the housing crash. He admitted he saw it coming all along but could never convey it.
    2
  1132. Dem run organizations always rot from corruption and hypocrisy.
    2
  1133. Stop using misleading euphemisms like “backstop.” It was 100% a bailout.
    2
  1134. Paul Tudor Jones was talking this morning about inflation not being transitory and the trillions in “dry powder” sitting in people’s savings accounts. Just wait till people start to see their savings erode rapidly due to inflation. They are going to unleash those dollars before they degrade further and inflation and shortages are going to get much, much worse.
    2
  1135. The US has been addicted to $2 trillion annual deficits since 2008. The hangover is gonna be a doozy.
    2
  1136. @Numbered--Weighed--Divided As they should. In a non-Fed manipulated market real rates wouldn’t be negative
    2
  1137. Unless you are the Fed, the housing market is too big to corner. Zillow was free to overpay, just like anyone else.
    2
  1138.  @righteousone1  Meh. Sounds like the market saw right through their excessive markups and they are rightfully suffering. I’m no fan of Zillow but the major manipulations are from the Fed and government policies like eviction bans.
    2
  1139. There was a once in a 100 years pandemic that allowed vehicles to be sold for full sticker+ combined with trillions upon trillions of Covid and stimulus spending. If I walk through my neighborhood nearly every driveway has a new full size truck or SUV. But now car loan rates are 8%. This would be the absolute worst time to raise labor costs.
    2
  1140. I saw a YouTube recently that said Hemet is one of the WORST cities in CA.
    2
  1141. So I finally figured out why the homeless problem will NEVER be fixed with more affordable housing and more and more money thrown at the problem. This is because the vast majority of homeless that we see in tent encampments have chosen being homeless over being housed with rules and sobriety. They’ve stolen from mom repeatedly, trashed their friends place, and burned coworkers. Now they are on their own. Yes, there are a few that truly could get back on their feet with some assistance. Those are the ones we should be helping first. The rest need some kind of forced housing with very strict rules.
    2
  1142. Tablet magazine reports that many of the women executed at the festival were raped “next to their friends’ bodies, dead bodies” before being killed. Some of those who survived were kidnapped and seen “paraded through the city’s streets” in Gaza by their captors, “blood gushing from between their legs,” Tablet reported.
    2
  1143. The $9 trillion on the Fed’s balance sheet are dog shit assets. They all pay deeply negative real returns. Who is going to buy this debt unless rates go up significantly? There’s gonna be a credit crunch and housing crash of biblical proportions.
    2
  1144. Hard to believe Hamas has any rockets left. At least Israel knows the locations to pulverize.
    2
  1145. We are living in the largest Ponzi Scheme in the history of humankind. The only thing keeping it going is larger and larger deficits, and more and more trillions in “stimulus.” I just don’t see it lasting much longer. There’s either gonna be a credit collapse or the dollar is going to become worthless.
    2
  1146. The market is losing a drunken sailor buyer (aka Fed) that’s bought $5 trillion in treasuries and mortgage securities since Covid. And $10 trillion since the GFC. You just can’t replace a buyer like that.
    2
  1147. What’s prices start falling they will continue to fall for a decade. People who buy in 2024 will regret catching a falling knife.
    2
  1148. I think what mayor Pete meant to say is he’s glad to have a transportation secretary that can ride the bologna pony.
    2
  1149. I’m sure all these tunnel data points and their coordinates are all being put in models back in Israel.
    2
  1150. Between the holodomor and making 10% of Ukraine permanently uninhabitable, haven’t the Russians done enough damage?
    2
  1151. What is stopping all banks - even those that aren’t in trouble - from trading their underwater (overvalued) bonds for money from this fund? Seems like a money machine that will quickly go broke. And don’t forget the Fed owns $8.3 trillion in these underwater assets.
    2
  1152. @ We’ve AVERAGED $2 trillion annual deficits since 2008. Those go away and we’re in a deep dark recession. $2 trillion is the financial equivalent of 20 million $100,000/year jobs. You mind looking up what the unemployment rate would be if we lost 20 million jobs?
    2
  1153.  @bamahama707  Your “contributions” are gone. They were paid to beneficiaries while you worked. If current workers vote to end the programs, your payments will cease.
    2
  1154. The US is currently at the “dependence” stage of the cycle…soon to collapse and revert back into bondage and dictatorship. “Democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.” Alexander Fraser Tytler, 1787
    2
  1155. Unless you’re a monopoly, unions are are loser for everyone but the guy collecting the dues.
    2
  1156.  @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.
    2
  1157.  @marcocarlson1693  Yeah, me either. I see its main value as a hedge if/when the dollar collapses. But I also don’t see government allowing it as a viable replacement to fiat currency either.
    2
  1158. Never not an awesome slogan to live by!
    2
  1159. …his corruption
    2
  1160.  @AnonYmous-wf1oz  Debt still went up. And Newt Gingrich and GOP congress built that budget, not Clinton.
    2
  1161. I thought Manchin was sane and concerned and debt and deficits but clearly he’s just another reckless spending democrat intent on bankrupting the country.
    2
  1162.  @realestatemindset  Yep. And we’re only one month into rate normalization. Just wait until the Fed tries to unload their $3 trillion in mortgage bonds.
    2
  1163.  @toddsmith293  I agree. Only in 2008 our debt was about $10 trillion and less than a trillion QE.
    2
  1164. Fed mistakes, combined with trillions upon trillions of Covid and other spending have created the biggest housing bubble in history. The Fed should never had held rates artificially low for so long. Nor should they have bought $3 trillion of mortgages. Now there is a ton of inventory locked up in sub 3% mortgages - but those will slowly leak onto the market for various reasons. And with student loans resuming and government stimulus drying up, the economy is going to go negative and job losses will start to accelerate.
    2
  1165. South Dakota and Utah definitely strong conservative states. Low tax, low regulation, high personal accountability, pro business environment. That’s a winning formula.
    2
  1166.  @AlexYounger  Not only is it 100% true, the safest states are the whitest states. Science and data hurts, doesn’t it? Let’s go Brandon!
    2
  1167.  @victorianmelody46  Sad. But does any of that justify murdering a child?
    2
  1168.  @stbhansen  Nobody said that. But Russia does have the leverage to eliminate the western world if provoked too much. Why not send them a bone or two?
    2
  1169.  @EpicCrust  Most everyone and everything in the northern hemisphere gets annihilated once the nukes starting getting unleashed. I think we’re foolishly underestimating Russia’s abilities and nuclear capabilities.
    2
  1170. 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.
    2
  1171.  @johnfurr6060  Yep. We’re gonna be paying dearly for Covid government response for decades to come.
    2
  1172. No surprise the gay mafia, the Palestinian terrorists, and BLM are all on the same team.
    2
  1173. I just don’t see any other endgame for the US other than hyperinflation. And it’s gonna come sooner rather than later.
    2
  1174. Price momentum in residential housing massively overshoots in both directions. Now that home prices are finally dropping, one might expect they continue to drop for many more years. Don’t forget in the last downturn, prices started dropping in 2006 and didn’t bottom out until 2012 - and even then it required 0% rates, QE, and countless other stimulative housing programs to turn back prices back positive. Those tools might not be available this time. Get the popcorn…
    2
  1175. Something to ponder: ever since the US surpassed $1 trillion in accumulated DEBT in 1982, the US has averaged nearly $1 trillion in DEFICITS each and every year since.
    2
  1176. Wrong. Fixed rate homeowners will be hurt too since the value of their home will drop significantly by higher rates.
    2
  1177.  @-mm-4434  Higher rates and Fed exiting buying mortgages hurts in a lot of ways: 1. Your net wealth decreases 2. You will be less likely to have equity to pull out, and refinancing is out of the question since you would lose your low fixed rate 3. If you have to sell for whatever reason, you will have to take less 4. Prices could fall for years, even a decade or more before they recover 5. The Fed and the government have been using all their tools to artificially prop up housing prices. This is going away. Bottom line, if you love your house and your payment and plan on staying there for decades, you may be fine until you sell - possibly at a loss.
    2
  1178. Joe Kernen is one of the few reasonable and pragmatic people left in MSM.
    2
  1179. 1 million illegals have invaded this country since Biden was elected. I wonder if they have housing?
    2
  1180. The Fed knew all along inflation wasn’t transitory because it was their trillions in money printing and 0% interest rates that created it.
    2
  1181. My usual 6 beers and bottle plus of wine per day is far more than 14 units per week. No wonder I have so many health issues.
    2
  1182.  @laza6141  Type 2 diabetes, obesity, high blood pressure, fatty liver
    2
  1183.  @jimwjohnq.public  Agreed
    2
  1184. Thanks for the 1MDB story. I can only imagine there’s dozens of not hundreds of similar financial frauds and schemes going on right now. BLM, Biden, Clinton, PPP loans, etc etc etc.
    2
  1185. Anyone who took a junior high economics class knows that if you print trillions, cut production, overstimulate the economy with zero rates - that massive inflation will happen 100% of the time. Yet the Fed, a place laden with PhD economists, who mostly created this mess, lied and continue to lie about it for 2 years and counting. They think we’re stupid. And so does Brandon.
    2
  1186. Smart women everywhere must be so insulted that a racist dingbat like Harris is our nation’s first female VP
    2
  1187. The projected 6.7% assumes no recession/depression.
    2
  1188. “When I look at space, I think fweedum”
    2
  1189. All roads lead to hyperinflation.
    2
  1190. And now that the Fed isn’t buying treasuries, who will buy 3% treasuries when inflation is at least 8.5%?
    2
  1191. If only he was carrying he would have been more than justified taking her out.
    2
  1192. My brother in-law invested in some brand new apartments in Carrollton, TX a few decades ago. Right before they were to start renting them, the market went to trash and they ended up just bulldozing all those brand new apartments. Sounds like we have a repeat coming our way.
    2
  1193. Savage
    2
  1194. 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.
    2
  1195. 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
  1196.  @clandestine5959  That’s what we need again. Get government and the Fed out of the way and it will happen.
    2
  1197.  @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
  1198. $320B to bailout deadbeat college students = even more inflation
    2
  1199. Isn’t about paying the minimum payment on your Visa Larry, it’s that all your Visa’s credit limits are maxed out.
    2
  1200. Calling abortion “reproductive rights” is like calling the holocaust the “final solution.” It’s murder no matter the euphemisms.
    2
  1201. Housing is in far worse shape than 2008. With the Fed exiting the mortgage bond buying business, the private sector will need to fill the void. Inflation is going to void their ability to keep prices afloat.
    2
  1202. Merry Christmas Max!
    2
  1203. It’s like $300 per week to rent a Tesla 3 to drive for Uber. That’s $1200/month. Not to mention the pain in the ass of charging the thing twice a day.
    2
  1204. $30 trillion in debt. $100 trillion plus in unfunded obligations. To offset this means to wipe the wealth of 130 million millionaires. Are there even 130 million millionaires in this country?
    2
  1205.  @CinderellaCoach  I still think there must have been a coupon or discount or use of a gift card. They do that so people don’t try to return it for more than they paid or try to get a full return in cash when it was partially paid in a gift card.
    2
  1206. The only thing keeping housing from collapsing is high inflation. Every other variable portends prices gonna fall precipitously.
    2
  1207. So Oregon just got their share of the $1.2T “fix the roads and bridges” infrastructure pkg. Just read what they are using it for: Improving sidewalks for wheel chairs (based on a lawsuit the State lost), bike lanes, “ubiquitous” EV chargers and PAINTING the Fremont bridge. So all those unpaved roads, potholes, and bridges ready to fail be damned. This is EXACTLY why I hate liberals and progressives running the west coast.
    2
  1208.  @danielosullivan7940  That’s insanity. If you want to this where this “bitterly ends,” watch the movie Threads.
    2
  1209.  EduardoOliveira-1933  At least he looks alive. Unlike the dead zombie Brandon.
    2
  1210.  @danielosullivan7940  That’s insanity to continue to provoke a nuclear power like Russia and risk nuclear catastrophe. Let the people of the Donbas and Crimea vote for either independence or be part of either country. This is a stupid and unnecessary escalation of war.
    2
  1211. No war, no pandemic, no emergency, low unemployment. Yet the Biden administration ran $1.1 trillion in red ink in the last six months. We should be running a surplus!!!
    2
  1212. Burning man for the Uber rich
    2
  1213. Agreed. The crash of the early 80s was probably the last time there wasn’t massive government interference. And that’s why the recession did its job.
    2
  1214. Since the GFC the economy has been artificially and temporarily propped up by record deficit spending, record Fed money printing, and record low interest rates. Now inflation is bringing that Ponzi scheme down.
    2
  1215. The problem with “free” healthcare for all is it isn’t free. Resources are finite. Any dollar spent on healthcare is a dollar less than can be spent somewhere else. As the old saying goes, “if you think healthcare is bad today, just wait until it’s free.”
    2
  1216.  @stardust164  Um no. Biden made it clear it was going to pick a black woman for the Supreme Court. And he also said he was going to pick a woman of color as VP. He’s also on record as saying the less white America is the better.
    2
  1217. History will soon show us that Covid lockdowns and wasteful Covid spending and central bank money printing was the last straw and tipping point for world economic collapse. It’s happening folks. And it’s gonna get worse before it gets a lot worse.
    2
  1218.  @dorbid  Nobody got trillion dollar tax breaks.
    2
  1219. Living in the US, I have become numb to waking up every day to hearing on the news the usual rundown of impulsive unnecessary black on black violence. The only difference is this was the Oscars.
    2
  1220. People who broke into this country illegally harassing and invading the privacy of a sitting US Senator to vote for an agenda for a country they don’t even have legal residence in. And little to no outrage from Biden and the rest of the corrupt left.
    2
  1221. Three endgame scenarios: A) austerity B) default C) money printer (hyperinflation) The answer will be C. Warranty.
    2
  1222. The Fed CREATED the inflation problem.
    2
  1223. Sounds like the whole company was build on fraud, lies and fake accounts. No reason to sue Musk for exposing that fact.
    2
  1224. The US (and most of the world) economies have been held up on life support by trillions of added debt each year. The US has AVERAGED $2 trillion annual deficits since 2008. Once that debt Ponzi scheme is forced to end, game over.
    2
  1225. West Bank Palestinians electing “Hamas” just shows there are so civilian Palestinians. There are ALL radical terrorists.
    2
  1226. It was Dyatlov.
    2
  1227. 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
  1228.  @tellmemoreplease9231  His military spending broke the USSR and ended the Cold War. Democrats would NOT allow him to restore our military without commensurate increases in domestic garbage spending. That’s why deficits increased in the 80s.
    2
  1229.  @vitalsigns6403  I tend to agree. That’s also why the Fed lied about inflation for so long. They don’t want to be blamed for the recession. And Biden is meeting with Powell today, probably to tell him to back off and not crash the markets.
    2
  1230.  @bluenwhite2009  Home prices have been artificially propped up for decades with lower and lower rates and Fed and government manipulation. The Fed is also going to try to unload $3 trillion in mortgage that has been artificially propping up the market.
    2
  1231.  @bluenwhite2009  I hope they unwind QE and don’t ever do it again. Having a $9 trillion straw man buyer distorted markets on a biblical.
    2
  1232. What’s the difference between wasting $100k on an overpriced vehicle or $100k on an overpriced education? The Biden administration needs to pause car payments and pay off every car loan! SMDH
    2
  1233. The problem with aid is ANYTHING of value can be traded for Anything else of value.
    2
  1234. Auto manufacturers saw record profits due to Covid lockdowns and incredible stimulus. That’s now over. This would be the absolute WORST time to increase labor input costs.
    2
  1235. Of course a nice single family home with a big garage, gourmet kitchen and fenced back yard is more desirable than renting. Renting can mean a crappy 500 sq ft studio, which just isn’t possible for a family. That being said, I think your data is relevant and very telling. Thanks Nick!
    2
  1236. How did you get a 2.5% rate in 2019?
    2
  1237.  @toeachitsown2050  That’s the right attitude. If you have a stable, consistent and permanent income to cover your bills you should be ok.
    2
  1238.  @mauriz8120  They will eventually taper. But remember all taper amounts to is turning the speed down on the money printer a tiny bit. They will still be causing inflation flooding the markets with printed money. The real issue will be if they ever try to unload their balance sheet. That’s when the shit will really hit the fan.
    2
  1239.  @jwigley3835  It wasn’t the exotic loans that caused the crash, it was unsustainable high prices supported by low interest rates. And when home prices started falling, it created a snowball effect of lower and lower prices. And that’s what will happen this time. Once the Fed takes its foot off the gas, it’s game over for stocks and home prices.
    2
  1240.  @jwigley3835  Yeah people are stupid. They shouldn’t have taken variable loans and bank underwriting should have denied them. And people shouldn’t be taking college loans to get degrees that won’t support paying those back either. We need to teach personal accountability in this country again.
    2
  1241.  @fabbz94  And home prices were $35k for a nice 2,000 sq ft home. Hopefully we go back to those days
    2
  1242. Looting only lasts a few hours before everything of value is gone.
    2
  1243. So the current score is Israel 2200, Palestinians 1300. I wonder what the final score will be?
    2
  1244. Most people are terrible at math and don’t realize how bad things really are. To pay for the US’ $30 trillion in debt would require wiping out 30 million millionaires. And that doesn’t even begin to deal with the $125 trillion in unfunded promises - mostly Medicare and Social Security.
    2
  1245.  @williamlyons3947  Not yet. But that money has to come from somewhere. Either debt or not spending it elsewhere. Either way does not bode well for the economy.
    2
  1246. Thanks to the Fed, investors are desperate for yield. Homes buying/home renting is a place where they feel they can beat the 2% “risk free” rate. Hopefully, now that rates are rising and the Fed is out of the mortgage security buying business, housing will turn into a poor place for investors.
    2
  1247. Not even the experts know just how ugly this is gonna get. Just ending and liquidating a straw man buyer of $3 trillion in mortgages (ie the Fed) is going to be devastating. Add that to rate hikes and looming recession/depression.
    2
  1248. Why is this happening? Is this just because Biden and Harris are useless? There needs to be some diplomacy.
    2
  1249. When you give people jobs based on who they choose to sleep with this is the natural result.
    2
  1250. The US has been AVERAGING nearly $2 trillion annual deficits silver 2008. Plus the Fed is sitting on $7 trillion QE. That’s been the main fuel for this bull market.
    2
  1251.  @pilot41186  True. Just some lies are more laughable and easy to prove than others.
    2
  1252. I remember being a teen in the 80s and thinking how ridiculous and unbelievable it was that dancing was outlawed in a oppressive religious town (Footloose). The left has leveraged wokeism, cancel culture, Covid controls etc etc to be 1000x more oppressive than John Lithgow’s dancing ban.
    2
  1253. The only way crypto overtakes government run fiat currencies is if central banks create their own. And if society collapses, no one is going to have supercomputers to validate crypto transactions. Either way, all current cryptos are going to zero.
    2
  1254. 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.
    2
  1255. The ONLY thing keeping the economy on life support is the unsustainable adding of $1 trillion in added debt every 100 days.
    2
  1256. Even with all the recent rate hikes, REAL interest rate are still NEGATIVE. That’s just not rational.
    2
  1257.  @economicprepper9605  Yup. People don’t want jobs because by the time they get paid, it will buy way less.
    2
  1258.  @adas1988  100%. The current situation is untenable and just wastes millions of dollars. People are currently living and dying in filth and crime. In the huts, People are free to leave anytime if they have a plan to shelter and care for themselves.
    2
  1259. This idiot doesn’t comprehend even basic economics.
    2
  1260. Huh? That’s just a regular key ring on that flask. It would take maybe 5 seconds to get that key off the flask. What am I missing?
    2
  1261. 10 year yield up another 14 basis points this morning, causing a new multi-year high in mortgage interest rates. The cracks are getting bigger…
    2
  1262. Just give us a good reason to change the leadership in Iran. Bring back secular freedoms and uncover those beautiful Persian women.
    2
  1263. The US has replaced manufacturing with money printing and debt. Once our trading partners stop accepting fake dollars in exchange for their goods, game over.
    2
  1264. “It came from CHYNA!” - DJ Trump
    2
  1265. Iran needing a leadership change has become inevitable.
    2
  1266. Mr. “For God’s Sake” supports the killing of 63 million babies and counting.
    2
  1267.  @jolting  Yep. As the saying goes, if you’re not one of the ones to lose your job in a recession, you tend to be better.
    2
  1268. Gross. TMI.
    2
  1269. Human rights? Name me a war where there wasn’t civilian casualties? Hamas BLOCKED civilians from being able to evacuate!! Hamas’ brutal attacks on innocent civilians is what caused this retaliation!
    1
  1270. 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
  1271. Some version of blockchain tech will survive but all the current cryptos will go to $0. There is no intrinsic value and there is NO WAY central governments will allow their monetary systems to be replaced.
    1
  1272.  @spg5658  People can’t buy what they can’t afford. Interest rate hikes are costing $500 more for a typical new purchase. Add inflation on gas and food and households are adding $1000/month plus. Households are going to shed expenses, not add to them. And once investors realize the market is going down, they are going to unload their properties causing a rout. Watch and see…
    1
  1273.  @KaleHello  This is a classic end to any “tulip mania” FOMO insanity. One day everyone wants a Tickle Me Elmo doll. A few days later people ask themselves what was the big deal. The Fed created a ton of momentum by reducing rates to record lows and buying up $3 trillion in mortgage bonds. That has all recently went away. Home prices are like an aircraft carrier. It just takes a little time to turn around such a beast.
    1
  1274. Love Schiff. On SS, he’s just bringing it up because that’s how deep of a hole we are in. We’re running $3 trillion annual deficits just to keep this Ponzi scheme going.
    1
  1275. More people need to understand the meaning of the word fungible. It does no good to ban Russian energy when there are other players in the market that will. Energy is the same thing. Unless you are the lower cost energy input, you are not yet viable.
    1
  1276. Wait until people get their Q2 401k statements and realize their retirement just shrunk by 30%.
    1
  1277. Worst president by far to go along with the worst administration in history.
    1
  1278. This debt Ponzi scheme continues until the bond market says uncle and/or our trading partners demand to be paid in something other than US dollars.
    1
  1279.  @barryrammer7906  If Trump was still President, Russia would never have invaded.
    1
  1280.  @DeltaLou  Good point. Avoid liberal cities like the plague. Next recession they will turn into even bigger homeless and trash shit holes
    1
  1281. I rooted for Ukraine the first 6 months or so. Not anymore. Their constant begging the west for more and more money and their best tech and equipment is going to cause a nuclear holocaust. Not to mention the tens of billions of US taxpayer dollars wasted could house all the homeless.
    1
  1282.  @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
  1283.  @canicksmith6629  Then they should have never bought a house.
    1
  1284.  @canicksmith6629  Seems we are doing the same thing in 2022.
    1
  1285. Is anybody surprised the homeless problem has only massively grown once governments started throwing billions at the problem?
    1
  1286. I always thought one of the more horrific ways to die is inside a tank. I suspect some tank crew don’t die immediately but are mortally wounded by shrapnel and other nastiness. Whose job is it to check for survivors or retrieve the body (parts) from the burned out tank hull?
    1
  1287.  @alka7145  Makes sense. There must be cases where the anti-tank impact was devastating but not immediately incinerate the crew and they die in horrible agony for several minutes? I know it was just a movie but no one can forget the US soldier climbing out of the tank on fire and shooting himself in Fury.
    1
  1288. The Fed is a bunch of high paid liars. Who with any common sense could not expect high inflation in the following scenario: 1. Record Fed money printing 2. 0% interest 3. Record Government spending and stimulus checks 4. Economic shut downs So record money printing and spending with less stuff to buy due to shutdowns would only cause transitory inflation? These people aren’t that stupid.
    1
  1289. Joe Manchin didn’t leave the Democrats, the Democrats left him. Manchin’s rhetoric sounds an awful lot like JFKs “Ask not what your country can do for you, ask what you can do for your country.” Today’s Democrats are just a bunch of thieves raiding the cupboards bare under the guise of race equity.
    1
  1290. It’s an election year. Don’t believe anything - and expect important information to be hidden as well!
    1
  1291.  @crisbot666  Nick’s real life observations are a refreshing counter analysis to the rigged system on the other side. I wish there were a lot more Nick’s in the US screaming about this.
    1
  1292. This sounds like the Colorado in the US. Only worse. More evidence that the next wars will be about food and water.
    1
  1293. The primary buyer of US debt of late is the Fed money printer. That “QE” bought us some time but is now resulting in higher and higher inflation. Since it’s quite obvious to most people that the US has zero chance of paying it back, who is going to continue to loan money to the US government? Considering the high risk of default, the US is going to need to offer higher and higher interest rates which, ironically, will force the default to happen. We’re screwed.
    1
  1294. It’s sad to see Marsha running absolute circles around this incompetent old lady. What an embarrassment for this country.
    1
  1295. Barf. Enough of stupid woke quotas. This person won’t judge blindly. She’ll judge with with huge favoritism to BLM, LGBT, pro-abortion and all the other radical left issues.
    1
  1296. Jesus fuck why can’t they just outlaw being homeless? 3 choices: drug treatment, jail or very humble accommodations with very strict policies. This isn’t that hard.
    1
  1297. Slick Willie promised Ukraine if they gave up their nukes, their sovereignty would be protected. I guess that what just another Democrat lie.
    1
  1298. Oh please. That SF housing segment included both the SF peninsula AND east bay. That’s just the name of that entire region for this housing analysis. I realize that is a little confusing.
    1
  1299. 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.
    1
  1300. We’re playing with fire. Sooner or later there’s gonna be an incident between Russia and a NATO country…
    1
  1301. The Biden Administration would rather crush America’s fossil fuel industry than removing funding for Putin’s war machine. Way to go, Brandon.
    1
  1302.  @wadej769  No way the Fed is as stupid as the act. The stock, jobs, and housing markets were stabilized by June 2020 and started their meteoric rise. Yet they kept pouring fuel onto the fire until a month ago. No one is possibly that stupid.
    1
  1303. I wish the Fed would stop pussy footing around and just make an immediate change to make interest rates slightly greater than inflation. This will fix all the greedy and gluttonous behavior in housing overnight…
    1
  1304. 1000x? That seems like a bit of an embellishment.
    1
  1305.  @Hary1470  It’s not the “oil companies.” It’s the Biden Administration’s anti fossil fuel policies restricting supplies. That’s the stated goal: “transformational pain.”
    1
  1306. Biden is such a weak leader. Why are we just giving Palestinians $100 million? We should at least be getting out hostages back for that money.
    1
  1307. So the inflation and supply shortages we’re feeling today were caused by Covid shutdowns. Just wait until the food shortages from the Ukraine war. I heard they’ve lost 70% of next year’s crop and they are considered a major world “breadbasket.”
    1
  1308. How cops and border agents can continue trying to do these jobs is beyond me.
    1
  1309. Hi Max!
    1
  1310. Don’t worry, the Let’s go Brandon administration is telling us inflation and product outages are a problem for the elites only.
    1
  1311. This is gonna get a lot worse. The layoffs are just beginning. The Fed says they are committed to bringing down inflation and have a LONG way to go. Fed inflation fighting tools cause unemployment to rise dramatically. Higher rates will also expose all the zombie companies. Home prices are going to fall for years.
    1
  1312. I just don’t see how decentralized currency, with zero intrinsic value, that takes computers to confirm transactions are valid, survives a fiat collapse. It is highly doubtful that whoever takes over after the post fiat crash revolutions will anoint crypto owners as the new wealthiest citizens. Ain’t gonna happen.
    1
  1313. The pope is the disgraceful idiot. What would the Vatican do if tens of thousands of people overran their walls and demanded to be cared for?
    1
  1314. I wonder what Nixon would say about the biased social media censors?
    1
  1315. The Fed has two choices: Venezuela like inflation and product shortages/outages or massive wealth evaporation. They take their orders from the wealthy but it’s the common folks that own guns and will go full on Mussolini on them if there’s no food to buy. Tough spot.
    1
  1316.  @thedarkdefender7780  Yes it does. Palestinians cheering on terrorists after their chopped off babies heads proves it.
    1
  1317. Not likely. As the primary driver fit the next depression is too much default and some sort of default.
    1
  1318. This bill does precious little for the poorest and those most impacted by inflation. How does an $8,000 credit for a new HVAC system help a poor renter? Paid for be hassling people about taxes. What a complete scam and lie.
    1
  1319. Complete scum. One thing about Americans is we hate cheaters.
    1
  1320. Sandi Cortez is a national embarrassment.
    1
  1321. Joe’s masters are the radical blacks and the gay mafia pulling the strings.
    1
  1322. The USSR reached its zenith in the early 80s before Reagan bankrupted them and Chernobyl exposed their corruption and flawed system. Since then, most of former USSR states broke free. The Baltics declared independence. East Germany collapsed, Poland collapsed, Hungary collapsed, Czechoslovakia collapsed, the Finns became more friendly to the west. And so many more. The Russian bear is now backed into a corner. History suggests Russia has good reason not to trust the west and therefore desire a little buffer room. I don’t think Putin ever had any intention of messing with any NATO countries or any of the former “Stans” that were part of the USSR. In any event, has any reasonable level of diplomacy been tried? Russia has said red lines are now crossed and has threatened repeatedly of using nukes if the west overly interferes in what they view as brethren civil war. What does the west now do if Putin raises the stakes to match better western tanks by using limited capability Nukes to destroy them? This reeks of the movie Threads playing out in real life. Scary so few see it that way. I’m just not comfortable that Putin will eventually blink like Kruschev did in 1962.
    1
  1323.  @davidyoung3693  Meh. We already have too much fascism in the west. I think we’re playing with fire. Putin has held back some of his best planes and equipment - and nukes. And what does Putin’s KGB experience have to do with it? He sees Russia as vulnerable after collapses of all their republics and satellite nations and has drawn a red line at Ukraine and them joining NATO. I don’t think it’s worth nuclear holocaust to weaken Putin.
    1
  1324. It gives me endless glee that the left is afraid of the man who got filthy rich on green energy.
    1
  1325. Krugman is a complete idiot. His bastardized version of economics isn’t just wrong, it has ruined the social science. Biden and his administration are idiots too.
    1
  1326. The Fed owns $8.3 trillion of the undervalued assets that took down SVB. Just wait until the taxpayers have to bail the Fed out.
    1
  1327.  @undefined69695  They sure do. I guess that explains why boomer kids don’t want to pay their student loans.
    1
  1328. Love Schiff. On SS, he’s just bringing it up because that’s how deep of a hole we are in. We’re running $3 trillion annual deficits just to keep this Ponzi scheme going.
    1
  1329.  @sharonhiatt3859  Gambling addiction is insidious. I fight it constantly but can commiserate it can be fun. Good luck with your mom.
    1
  1330. The Fed ain’t as stupid as they pretend to be. Trillions in money printing with curbed productivity leads to high inflation 100% of the time. They knew this is what would happen all along. And it’s gonna get a lot worse.
    1
  1331. I think the $9 trillion in QE money printing to buy US debt, lower US interest rates, and prop up housing with be the Trojan Horse than destroys the dollar. I just don’t see how the Fed can unload it’s balance sheet without creating major disruptions. It won’t be long until there are no buyers of US debt at any price.
    1
  1332. $33 Trillion in debt and tacking on another $2 trillion per year in red ink. Unsustainable. A $2 trillion deficit is equivalent to 20 million $100,000/year jobs that wouldn’t exist otherwise. A complete false economy only held together by more and more unpayable debt. The upcoming housing crash is the least of our problems.
    1
  1333. If Biden was 1/10th of a man he needs to be he would have met with Putin and Zelenskyy before the war and forced them to hammer out a deal or he would beat the crap out of both of them. But instead all we have is a feeble old man who just says “cmon man” or spews inflammatory rhetoric against Putin like “war criminal” or “backed against the wall. This serves no purpose other than escalating the tension and pissing off an already unstable man.
    1
  1334. We were just a Disneyland and downtown Disney last week! Super spendy. First tickets. Then $20 extra pet ticket per day for genie plus (fast pass). Then on some rides like Radiator Springs and Rise of the Resistance you pay an extra $20 per person per ride “bribe” to shorten the wait a bit. $12 beers at the round bar at Downtown Disney!
    1
  1335. 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
  1336. Not surprised cackles supports abortion (aka genocide of African American babies)
    1
  1337. 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
  1338. It’s no coincidence that Putin waited to invade until Trump was gone. Sad.
    1
  1339. The Fed is stuck. Do nothing and watch higher and higher inflation cause civil unrest or aggressively fight inflation and make wealth vanish by the trillions.
    1
  1340. ANAB
    1
  1341. We should have taken the debt seriously decades ago. Sure, hyperinflation is the end game but it’s just as bad as default.
    1
  1342.  @TeresaJeanna  The Fed gobbled up $3 trillion in mortgages since the GFC and Covid. Now they are poised to sell these off their books. Going get ugly if they actually follow through.
    1
  1343.  @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.
    1
  1344. One year anniversary report card on Biden and the Dems in full control of both houses of Gov: 1. Humiliating and disastrous retreat from Afghanistan 2. Inflation at 40 year high 3. Debt and deficits at record highs 4. Millions of illegals streaming across our southern border unchecked 5. War in Europe 6. $100 per barrel oil 7. Asset bubbles starting to pop 8. US has lost its “carry a big stick” edge 9. Homeless at record levels 10. Crime and murders setting records in many cities I would say that’s pretty much an “F”
    1
  1345. 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
  1346.  @johnmqueripel2367  We just love the sound and feel of ICE vehicles.
    1
  1347.  @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
  1348.  @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
  1349.  @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
  1350. Restrictive monetary policy is only because of Biden’s ruinous fiscal policy. But ultimately the Fed will abandon the inflation fight and reduce rates back to 0% and print trillions again with the end result being Weimar Republic hyperinflation.
    1
  1351. How do their know what targets to hit? And if theyhave that sort of intel why didn’t they see the invasion coming?
    1
  1352. Sad but no matter how bad, they will have the support of LGBT, the blacks, the public employees, and a majority of Latinos. Sadly, that’s 40%.
    1
  1353. He’s right. People think Trump was unprofessional and mean but the reality is he was being brutally and falsely attacked and was just defending himself.
    1
  1354. People like to say the 2008 crash was due to subprime loans, reckless banks, etc etc. No!!! These things were just what was exposed AFTER the crash as probable catalysts. The cause of the crash was falling prices. Without falling prices, there is no crash. The Fed has been blowing this housing bubble for over a dozen years. Once prices start falling, the crash is going to be huge. The Fed and fiscal policy have few bullets left to stop it.
    1
  1355. In the 18th century, Alexander Tytler said this why all democracies fail 100% of the time. Sooner or later, the voters realize they can just vote for more and more “free” stuff from the government.
    1
  1356. You made a typo. You meant “We” instead of “They.”
    1
  1357. I see the EV buyers market finite and will be saturated soon. Most regular folks like the speed and convenience of the gas station network and unlimited vehicle range.
    1
  1358. The pro-Palestinians are always maniacal about the destruction of Israel. Everyone knows this. The rest of the protesters are from the liberal disease. They are incessantly desirous to be activists and seek out "oppressed" in this world - no matter how ridiculous or backwards the cause. Mindless group think on steroids.
    1
  1359. A recession is guaranteed. The Fed and massive deficit spending can only hope to keep the Ponzi Scheme going a little longer.
    1
  1360. Remember, in the Biden Administration’s sick and twisted world, if you raise the money to pay for something it’s actually free.
    1
  1361. Until the Fed makes real rates positive, it is STOKING inflation, not slowing it.
    1
  1362. I went to look at BBBY stock and it’s already down 18% in after hours trading.
    1
  1363. I see plenty of looting opportunities in Ukraine but no looting. As an American, it’s nice to see a country with civic pride.
    1
  1364. I think we’re setting the stage for the mother of all debt crises. Mortgage rates are up 67% in just over a month. And now the Fed is going to unload its $9 trillion of crappy assets…
    1
  1365. Unions ruin everything they touch. Need to end the longshoreman Union and let the free market get this shit unloaded.
    1
  1366. Why in the hell did the Fed buy $3 trillion in mortgage bonds and hold rates at 0% beyond early summer 2020? Not the mention the trillions in unnecessary Covid packages.
    1
  1367. Socialized losses are NOT capitalism.
    1
  1368. QE is a experiment of the past decade. QE is essentially the creation of a straw man buyer with an unlimited printing press. This has greatly distorted interest rates and all markets. Who can possibly compete against a pretend person who owns $8.5 trillion and continues to buy $120 billion/month? This will be impossible to unwind.
    1
  1369. We gotta stop funding these nut jobs who are brainwashing the children with their hogwash.
    1
  1370. $500 per month is “just a little bit more?” Are you nuts?
    1
  1371. There must be a lot of monopolies in tech. A company couldn’t spend 80% of its budget on political activism and survive in a competitive marketplace.
    1
  1372. @ You are spot on! Why are so few admitting this? Trump needs to let a cleansing recession occur, but he won’t. (Like Reagan-Volcker). The populace would revolt after being coddled with bailouts and “stimulus” for so long.
    1
  1373. Trump would have never invaded Afghanistan. But Bin Laden would have got a cruise missile in his arse just like Soleimani. What a waste.
    1
  1374. Terminal rate. Ha. 80s joke. What’s the difference between Seattle and San Francisco? Seattle has ferry terminals whereas SF has terminal ferries.
    1
  1375. @ Democrats want unfettered spending and tax increases. Republicans want tax cuts and spending cuts. They seem to only agree on tax cuts and unfettered spending which is suicide.
    1
  1376. 10 years yields are skyrocketing. Mortgage rates might be over 5% in just a few weeks. Get the popcorn…
    1
  1377.  @stefang2014  I don’t disagree. The problem is going to be affordability. And yes, mortgage rates need to be closer to 10% to account for inflation. It’s just that’s gonna kill prices.
    1
  1378. We could easily fix the homeless problem overnight. But it would require homeless give up some freedoms.
    1
  1379. Lollipop theory: it’s much easier to not give people something than giving it to them and then taking it away. Democrats know this. There is nothing more permanent than a temporary government program.
    1
  1380. A lot of rental applications are going to show living with mom and dad” for the last couple years rental history. That should be a clue to rental owners to deny that application.
    1
  1381. I think debt to GDP is much higher (worse) than what it appears because GDP is massively overstated due to massive deficit spending itself. If the US ever balanced its budget, GDP would drop precipitously.
    1
  1382. I worked for the State of Oregon, the USFS and a local county. All similarly ran. Here’s the catch though: most of the time they can get away with it because there are frequently no measurable deliverables. Just government babble 99.99% of the time.
    1
  1383. Fed has Dual mandate: full employment and stable (2% inflation) prices. We’re still 50% higher on the inflation side (still close to 3%).
    1
  1384. 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
  1385. Homeless to public officials serve the same purpose as dogs to homeless. They are just a prop to get more money out of people.
    1
  1386. Biggest liberal shit holes with most restrictive Covid policies losing population to most conservative red states that are pro business and less restrictive. Shocking.
    1
  1387. The real scandal is did he have a woman in the car with him?
    1
  1388.  @2256jimmy  Or we could have just lived within our means..
    1
  1389. So these Democrats who proclaim supply-side (incentivize the producers) policies didn’t and don’t work yet they supported recent demand-side (giving consumers checks) policies. But now they blame high inflation on supply-side problems? Oh the irony.
    1
  1390.  @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
  1391. 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.
    1
  1392. Why hasn’t the leaker(s) been found yet?
    1
  1393. We just gave $2.5 trillion in stimulus to schools, state and local governments and bailed out their pensions under the guise of “Covid.” And an additional trillion plus for “infrastructure.” How can these corrupt entities be hurting for dough already?
    1
  1394. The scary thing about an ARM today is the world is in record debt. In other words, much higher risk of default. Iv central banks ever lose the ability to artificially lower market loan rates, rates may only continue to go higher and higher…gonna get ugly folks.
    1
  1395. “Get that brown greaser away from me”
    1
  1396. The government is desperate for revenue. Taxing unrealized gains and taxing personal wealth are going to become more commonplace. Not even mentioning how insidious the inflation tax is.
    1
  1397. Student debt forgiveness is one of the unfair and regressive things a government can do. People should be asking why a college education doesn’t pay off? Is it all the useless degree programs?
    1
  1398. Biden can’t even keep a bicycle upright. God help us if we ever need real leadership.
    1
  1399. Only 62% think it’s a bank bailout? Are 38% of people really that stupid?
    1
  1400. When you have people like Pete Buttagieg accept a key job in the administration only to adopt some kid so he can take paternity leave.
    1
  1401. @Noplaylists You never really own it. I’m sure you are still making regular property tax payments to the the government.
    1
  1402. It’s one thing to not get computer chips but to not have enough food would be catastrophic.
    1
  1403. All bass cares about is getting her hands on federal taxpayer funds.
    1
  1404. The problem with Bernanke and Fed officials is they will never tell the truth while they are at the Fed. So who really knows what the Fed knows.
    1
  1405. This is tulip mania nonsense. These people are all going to be upside down by hundreds of thousands of dollars in a couple years. The Fed should have NEVER purchased mortgage bonds and kept rates at 0% for so long.
    1
  1406. Fake news. Wholesale prices DIDN’T DECLINE as the headline implies. They still INCREASED nearly 10%!
    1
  1407.  @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.
    1
  1408. Those hostages are as dead as the 1972 Israeli Olympians. Sadly, you just can’t negotiate with terrorists and award their appalling behavior.
    1
  1409. Oregon has one of highest per capita education budgets in the US yet their idiot Governor just made it possible to graduate without acceptable skills in reading and math. That’s the definition of FAIL!
    1
  1410. Good grief, everyone is looking for handouts. If farmers input costs are rising, they need to pass it on in higher prices for their products. That’s how this all works.
    1
  1411. Having a straw man buyer of $9 trillion of mortgages and US debt was insanity and will be nearly impossible to unwind.
    1
  1412. Europe never learns. Always choosing war over diplomacy. I’m just tired of the USA funding it.
    1
  1413. How does the wal-mart and target earnings fit Brandon’s “greedy price gouging companies” narrative
    1
  1414. Isn’t it ironic that masters of disinformation like Obama’s “you can keep your doctor” and Biden’s “Putin’s price hike” want to censor others. These two race baiting scumbags do nothing but spew disinformation!
    1
  1415. Something big is gonna break soon. The voters and the politicians will never allow the level of austerity and tax increases necessary to fix the problem.
    1
  1416.  @mrs.seaturtle66allen78  Inflation is a form of austerity. And that’s the most likely end game scenario.
    1
  1417. Both. And deficit spending as well.
    1
  1418. As a conservative, hard to believe I find a Kennedy’s viewpoints refreshing and pragmatic. Just shows you how far radical left the mainstream Democrats have gone.
    1
  1419. So Brandon is depleting the SPR to lower gas prices and invoking the DPA to force companies to make EV inputs. These are both emergency war times measures. But Brandon is recklessly employing them to help his and other Dems poll numbers.
    1
  1420. Phase out of $8 trillion of “Covid”nonsensical spending is somehow a budget cut to the Biden Administration.
    1
  1421. Sure, there’s a glut of Chinese crap no one wants at Walmart and Target. But when is the oversupply in cars and houses happening?
    1
  1422. Much much worse than 2008. Why? Record high inflation. The Fed can’t bail us out like 2008.
    1
  1423. People who broke into this country illegally harassing and invading the privacy of a sitting US Senator imploring her to vote for an agenda for a country they don’t even have legal residence in. And little to no outrage from Biden and the rest of the corrupt left.
    1
  1424. So by taking in all the world rejects, will they become more like us them or will we become more like them? If you look at US high immigration areas, it appears to be the later. Get ready for 3rd World status America. Let’s go Brandon!
    1
  1425. On a positive note, George Floyd hasn’t committed a felony in nearly 2 years.
    1
  1426. The androgynous freaks need to lighten up.
    1
  1427. The Fed has printed $8 trillion out of thin air since the GFC, and most of that in the last 18 months. Although they used the $8 trillion to buy financial assets like treasuries and housing bonds ballooning their prices, it was only an amount of time before until all that fake equity leaked to everything else we buy. It’s gonna get a lot worse.
    1
  1428. I honestly don’t think inflation will EVER go down. Just increase faster and faster. The Fed will raise rates until they collapse the economy and then they will immediately go back to 0% and turn the money printer back on.
    1
  1429. Real estate is inversely correlated to interest rates. Just look at any chart. Worse, the Fed further manipulated and artificially enhanced the mortgage market by buying $3 trillion in mortgage bonds. If the Fed isn’t forced to abandon tightening, home prices are going to crash big time.
    1
  1430. Good lord. The dude who is so senile he tries to shake hands with ghosts wants to run the free world another 7 years? There will be no country left after 3 more years let alone 7.
    1
  1431. 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
  1432. Cmon man. I mean they both start with “Sw” - you can’t really expect Brandon to know the difference do you?
    1
  1433. Biden, aka Carter 2.0, just doesn’t want to tell the truth like Carter did in the 1970s saying the country is in “malaise.” The recession is here and it’s gonna get a lot worse.
    1
  1434. There’s a million homeless creating a public health crisis sleeping on sidewalks and other areas in the US. Meanwhile, we cater to millions of Biden illegals to set them up with jobs and housing, displacing even more Americans. Disgusting.
    1
  1435. Well of course they are looking for someone to blame with deep pockets. That want to get paid for their loss.
    1
  1436. The Federal Reserve must be a depressing and oxymoronic place to work. A place filled with PhD economists that spends its time spinning data to tell us fundamental economic principles no longer apply.
    1
  1437. War is a genocidal act.
    1
  1438. It’s all a Ponzi scheme. Social Security, pensions, etc.
    1
  1439. Cops botch a few arrests and “all cops are bastards” and every liberal city in America burns. Meanwhile, blacks being blacks and you must retract any racial details.
    1
  1440. Yikes
    1
  1441. Can these political leaders just chill for a couple hours and watch the movie “Threads”?
    1
  1442. Hard assets like gold are an inflation hedge. When the fiat currency crashes, you trade your gold for the next currency.
    1
  1443. I miss Sarah. She would be a great President.
    1
  1444. I seriously believe a do nothing policy to Covid would not have led to more deaths. We mortgaged and ruined our future for nothing.
    1
  1445. Well, the pandemic and all the fake support is now over.
    1
  1446. Typical leftist hypocrisy. Liberals want to champion womens’ causes while simultaneously blurring the lines for how you define a woman.
    1
  1447. The fact that congress has groups segregated by race tells you all you need to know: black caucus, Latino caucus, etc. Completely racist.
    1
  1448. And to think Saturday Night Live on MSM had several humorous sketches about androgyny. Well, it’s still funny today.
    1
  1449. Nobody should be surprised by these government failures.
    1
  1450. I am mostly supportive of Ukraine but when the leftist weirdos of daytime TV started asking for a no-fly zone and the teacher’s union president starts waving the Ukrainian flag, I become very uneasy that this is all somehow a trap with a nefarious hidden agenda…
    1
  1451. Several of the most scenic drives in the world are near Cody. In addition to the East Entrance to Yellowstone, you can take either the Beartooth Highway or Chief Joseph Scenic Byway to enter via the NW entrance. Breathtaking.
    1
  1452. Appraising is such a scam. The value of homes is more based on monetary, fiscal and regulatory policy than anything tangible about the house. No way in real terms can houses be more valuable today versus pre Covid.
    1
  1453. This is how empires based on debt eventually collapse. The debt tipping point was over a decade ago, so now it’s just a matter of seeing how long the debt Ponzi Scheme can keep going. That’s why no presidential candidates even run on a platform of a balanced budget anymore.
    1
  1454. I graduated near the top of my class at the University of Washington with a degree in Economics in the 1980s. The version of Austrian Economics taught back then was very close to Rand’s views.
    1
  1455.  @johnnynick3621  As the saying goes, capitalism is the worst form of government. Except for all the others.
    1
  1456. “It’s not my job” That pretty much sums the whole Biden Administration.
    1
  1457. Just shows you what fascist Nazis liberals are. Always wanting suppress free speech. Well, unless it’s teaching gender abnormalities to K-3 kids. Then its an outrage.
    1
  1458. Joe is right. Food prices are extremely competitive. Pocahontas just pretends not to understand economics 101 for political gain.
    1
  1459. Can you imagine any of the US feckless leadership leading this bravely? I guarantee you Brandon and chuckles would be cowered in hiding somewhere.
    1
  1460. I wonder how many people are buying homes at the peak of the bubble now with the smallest down because they know it takes a couple years to get foreclosed? And if there’s a ton of foreclosures maybe the government will bail them out so they can stay even longer? It seems we keep rewarding bad behavior…student loans, renters, looters, etc etc
    1
  1461. High Crime, war in Europe, high inflation and asset bubbles poised to pop. Just wait till it all crashes.
    1
  1462. 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
  1463. 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
  1464. You think we hate government now? Wait till treasury hires 87,000 IRS agents to extract another $400,000,000,000 from taxpayers.
    1
  1465. Interesting how some of America’s best Republicans were once Democrats: Ronald Reagan, Donald Trump, Tulsi Gabbard and Elon Musk to name a few.
    1
  1466. @Billy Cole II Yep. And he also doubled the child tax credit.
    1
  1467.  @gizmo7365  I’m an Econ major too. The big difference is governments dictate what is legal tender and could ban crypto if that power and control is ever threatened. And gold does have intrinsic value and has maintained its value for thousands of years.
    1
  1468.  @gizmo7365  Agreed. One of the reasons I don’t own bitcoin or any other crypto is I don’t think I would want to live in a world where crypto took over. I suspect it would be violent and ugly. I guess if you were a crypto billionaire you could have your own safe archipelago somewhere to live on though.
    1
  1469.  @petebusch9069  The data is pretty ominous. And it’s not like the Fed isn’t telling us what they are doing. The economy and housing market have been artificially buoyed the last few decades by massive deficit spending and lower and lower mortgage rates. The only way I see home prices not crashing is if the Fed completely abandons fighting inflation, returns Fed rates to 0%, and starts running the money printer at full speed again. I just don’t see that happening because that will bring even worse problems.
    1
  1470. As much as I agree in some ways and many people deserve it, there is nary a human as ugly as one that has been separated from his financial security. Hyperinflation in Weimar German unleashed Adolf Hitler and people looking for scapegoats. I don’t expect this next collapse to turn out any better.
    1
  1471. Aren’t there still property owners of record for most of those derelict homes that are responsible for the property taxes and upkeep?
    1
  1472. Huh? America wouldn’t have become the superpower it became without those two 20th century world wars.
    1
  1473. What an idiot. So increasing the money supply by 1/3rd with no commensurate increase in things to buy creates mild inflation?
    1
  1474. Um, no. The oil industry is one of the most competitive industries on earth.
    1
  1475. Watching the dingbat bury herself is entertaining.
    1
  1476. Hyperinflation is the only end game. And it’s happening soon.
    1
  1477. History has proven time and again that empires collapse when debt payments approach 40% of income. $32 trillion debt at 5% and we are nearly there. And both rates and debt are still rapidly rising. The end is closer than we think. The irony is this guest referred to US debt as “risk free.” I would say at this level of debt it’s highly risky. Although default is unlikely, massive dollar devaluation is almost guaranteed.
    1
  1478.  @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
  1479. Some economists are idiots.
    1
  1480. Just wait till the Ukraine export harvest isn’t available next year.
    1
  1481. Agreed. No soft recession. Just a Fed induced recession unless they abandon trying to slow inflation.
    1
  1482. You can either be a welfare state OR lax immigration but never both. - M. Friedman
    1
  1483. One newspaper? Now many communities don’t have any.
    1
  1484. 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
  1485. I just don’t see this Ukraine War ending well. Ukraine won’t surrender until the Russians get super nasty. Like Nagasaki/Hiroshima nasty. And the rest of the world stand idly by if that happens…
    1
  1486. The feminists and progressives have come full circle. Now they attack a woman for defending women.
    1
  1487. OMG that is hilarious!
    1
  1488. 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
  1489. Don’t forget Tesla getting kicked out of the ESG. This is how the left operates.
    1
  1490. This is the way Washington DC is gonna look in a few years.
    1
  1491. Social Security is a classic Ponzi/pyramid scheme. There is no kitty or account that’s holding your lifetime contributions. Those dollars are long gone. Like all pyramid schemes, the first “beneficiaries” got the greatest returns. The scheme depends on getting new suckers signed up to pay current beneficiaries. Once enough younger workers realize they won’t get much in return, they will demand to opt out and that will dry up all the payments all the retirees were getting. Gonna be ugly when that happens but no one should be surprised.
    1
  1492. Although I understand Finland’s decision, I don’t think it’s a good idea. Why are are we provoking Russia and risking a much wider war and nuclear annihilation? We should be having serious peace talks with Russia. Give them a way out of this war with dignity. Sadly, that will never happen when the world continues to fund and escalate this war and further isolate and provoke Russia.
    1
  1493.  @VICSWEB1  Bubbles always end this way. They become the frothiest at the very end.
    1
  1494.  @VICSWEB1  Those are all entities designed to make their investors money. Once they smell a downturn they will be the first to liquidate their housing portfolios.
    1
  1495. Burry is right. Central banks and many world governments have “socialized” all the world’s money problems for the last 14 years or so. This has resulted in unpayable amounts of government debts. There’s only so much longer this Ponzi scheme can continue.
    1
  1496. Super easy to solve. Mandatory shelters and treatment/mental centers placements with strict rules and goals. Anything else is just wasting everyone’s money and time.
    1
  1497.  @carlgharis7948  How so? I guarantee you if shelters were mandatory and has strict rules and goals about 50% of the homeless would go away immediately. The rest would get help.
    1
  1498. The George Floyd riots has made a lot of paranoid people extra trigger happy. I suspect this is only gonna get worse.
    1
  1499. People like to say the housing crash of 08 was caused by banks, liar loans, exotic mortgages, CRA, etc etc. Those were just some of the underlying issues that were only exposed when prices fell. And why did prices fall? They fell because the Fed began to normalize rates. And that is exactly why they will fall hard this time. With inflation at 5.4% it’s hard to imagine mortgages will stay 3%.
    1
  1500. 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
  1501. She’s really pretty. Stunning actually. What’s her ethnicity I wonder?
    1
  1502. 80 million USA babies sacrificed since Roe.
    1
  1503. Insanity. Now Putin will retaliate in kind. When does this end? At least a nuclear winter might counteract global warming.
    1
  1504. Vote for zero accountability snowflake liberals, win crappy prizes.
    1
  1505. Well, you live way dirtier than roaches and ants.
    1
  1506. History will show Government forced lockdowns and other Covid restrictions will be the end of America.
    1
  1507. Yep, Elon is an prime example of an successful African American who didn’t get his position due to his skin color. That’s progress compared to the Biden Administration.
    1
  1508. Nah. It’s not easy to bankrupt a bank. This was just pure incompetence with a little fraud and malfeasance mixed in for good measure.
    1
  1509. Could the “dude” pimping these things be any gayer?
    1
  1510. If the Federal government wasn’t getting away with tacking on $2 trillion of year of new debt, unemployment would be several points higher. This is all a smoke in mirrors Ponzi Scheme that will soon collapse.
    1
  1511. I agree but it won’t just be the irresponsible that get wiped out. Dollars will become even more worthless, meaning pensions and social security will be worthless. Wealth will evaporate en masse. The super wealthy and the politicians will be fine but the rest of us will be wiped out.
    1
  1512. Makes me wonder, who are all the idiots buried in mortgages going to blame this time?
    1
  1513. Bailing out millionaires while social security is broke and will be insolvent soon. Tells you all you need to know about democrats.
    1
  1514. They could take ALL the money from the rich and it wouldn’t even come close.
    1
  1515. I’m sure Russia will be ready to turn those tanks into scrap metal once they get close to the Ukraine border. This is madness.
    1
  1516. This whole gigantic Ponzi Scheme only continues until governments cannot continue to raise their credit limits. At some unknown level of debt, the credit markets are going to start going haywire.
    1
  1517. Yellin and Fed officials have repeatedly said that if inflation proves to be non-transitory they have the tools to stop it. Well, inflation isn’t transitory but the Fed is still printing $100 billion per month.
    1
  1518. They why do they need all the tax and transfer credits and still cost 50% more than ICE vehicles?
    1
  1519. 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
  1520. 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
  1521.  @joek2293  Let me explain. Walmart is the largest US employer. And their wages impact other low skilled wages. And for Walmart and most other businesses, labor is the number one input cost. And when input costs increase, output costs increase accordingly unless they can be offset by productivity gains. So those will all be passed on in higher prices. And those higher prices ripple through everything else we buy.
    1
  1522. 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
  1523. 85% of Americans admit this war doesn’t happen under Trump’s presidential watch.
    1
  1524. Science proves gender is determined by the shapes of the 23rd pair of chromosomes. Why does the crazy left hate science?
    1
  1525. Thanks Nick! Excellent information. Remind me again what the mortgage rate fallacy is you mentioned at the end?
    1
  1526. Every dollar the US government spends either has to be directly taxed (taken) from someone and/or paid for with inflation (devalued currency). Few people truly understand this.
    1
  1527. Is anybody surprised?
    1
  1528. …to ZERO! I’m with Buffet and Munger on crypto. No way it survives long term.
    1
  1529. Perhaps the Virginia election is an indication folks are getting their fill of inept liberal leadership. Although I don’t see OR turning red for a long time. Hard to imagine, but I guess it has to get a lot worse.
    1
  1530.  @quewalabear8575  Energy independence, low inflation, full employment, no wars, no embarrassing surrenders, Covid vaccine in record time, lower taxes, higher child tax credits, lower burdensome regulations, low mortgage rates, greater retirement returns etc etc etc. You mean those things under the Trump Administration?
    1
  1531.  @michaelb4859  Look it up.
    1
  1532. Gold has been a stable source of value for 5,000 years. Crypto was made out of thin air post GFC mainly in response to irresponsible governments. When the shit really does hit the fan, gold is the answer, and crypto will go back to just being a unique alpha-numeric character sting aka worthless.
    1
  1533. Elon’s ambition and relationship with his parents, especially his father, reminds of Kritzinger’s Warning to the Nazis about the Final Solution: when hatred loses its object of hate.
    1
  1534. Nice to see miss world salad get focused when it comes to supporting murdering babies.
    1
  1535. Those anti-capitalist fools are just lucky there wasn’t a medical emergency trying to get through as they would be rightfully charged with murder.
    1
  1536. We learned absolutely NOTHING from the 2008 bubble except doubling down on the exact same things that caused it. This one is gonna be way, way worse.
    1
  1537. History proves that when the world’s preeminent empire reaches about 40% of their income in debt payments, they suffer an ugly collapse. It won’t take much more added debt and/or interest rate increases for the US to be at 40% debt to income payments.
    1
  1538. Shut the government down to keep those idiots from screwing things up even worse.
    1
  1539. As Paul Tudor Jones said, “all roads lead to inflation.” And that will eventually become hyperinflation and economic collapse.
    1
  1540. I would love to see these hypocrites stuck in the mud for weeks and be forced into cannibalism.
    1
  1541. 63 million souls lost since Roe and Biden is concerned about a possible botched abortion harming the mom?
    1
  1542. The Fed is going to cause a massive recession. There is no other way to slow inflation.
    1
  1543. It’s much, much worse than 2008. And when the bubbles pop, the Fed won’t be in a position to save it.
    1
  1544.  @alexanderharo4550  No, conditions are way worse today than they were in 2007.
    1
  1545.  @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
  1546. Why are we funding and escalating a war in Ukraine? We have no business intervening. We need to demand peace talks.
    1
  1547. I wish more people would aggressively push back against woke nonsense and all the ways the left and their crazies like Whoopi are dividing us.
    1
  1548. George, that’s a very interesting take that you blame reckless fiscal policy on what is creating the crime and homeless problems. It’s akin to don’t feed the bears. I asked my mother if homeless was worse during the Great Depression. She said it was nothing like how bad it is today. Just hobos traveling through towns looking for work. Once again, any government solution to a problem just makes problems worse. (Soft on crime, give homeless tents and food, make excuses for them, etc etc etc).
    1
  1549. I want that t-shirt! Wooooooooo!!!
    1
  1550. Turkey is a predominantly Muslim nation so of course they will side with Palestinian terrorists.
    1
  1551. Note that none of the Presidential candidates even run of a balanced budget platform anymore. They know it’s all just a Ponzi scheme that a balanced budget would expose.
    1
  1552. End the Fed. It’s a total corrupt scam. $8.4 trillion of assets on their balance sheet all purchased with printed money, and almost all since 2008. They’ve blown the biggest bubbles in market history.
    1
  1553. $2 million isn’t much if it only buys a loaf of bread.
    1
  1554. The Fed owns $9 trillion of the same underwater assets that took down SVB.
    1
  1555. All these dudes competing as women begs the question, why are we still segregating sports by gender? Just let the best athlete win.
    1
  1556. “We pay for them.” Maxine Waters
    1
  1557. Why should being on military deployment not require you to pay your bills? I’m ultra pro-military but personal accountability is personal accountability. Our military folks should set the bar on good behavior. If they are on military deployment they are still getting a pay check.
    1
  1558.  @susie2366  Yeah that happens. Still, the car payment should be one of the first bills paid. I’m sure there are resources available to military families that are having trouble making their vehicle payments. And I bet that in 99% of these cases, they didn’t even bother to call Wells Fargo. Military families are heroes. But they should also be of high moral character. If we forgive them for money mismanagement and not paying for things they agreed to, it sends a bad signal.
    1
  1559. Islam is truly an evil religion.
    1
  1560. And now it’s (30 x 67) miles high.
    1
  1561. I’d like to hear what Elon has to say about record government debt and how he anticipates it plays out. I just don’t foresee governments getting their budgets in order before it’s too late.
    1
  1562.  @jasonaris5316  Banks and financial firms acted poorly for sure but there’s a lot of blame to go around. When the government was forcing banks to make loans they wouldn’t have otherwise via CRA, I blame the government. Because of QE, this time instead of banks like Lehman holding a bunch of overpriced dog shit assets, it’s the Fed and its $9 trillion balance sheet.
    1
  1563. Is anyone surprised that Biden’s “press secretary” who got the job solely based on her color, gender and sexual orientation can’t string together a coherent sentence?
    1
  1564. Great video. Yeah, sadly, the US is running the biggest Ponzi scheme the world will ever witness.
    1
  1565. 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
  1566. So they are taking on more debt at much higher rates? This is gonna be worse than 2008.
    1
  1567. Democrats haven’t been this triggered since they murdered Lincoln for taking away their slaves.
    1
  1568. The Fed and other government officials know we are living in the biggest Ponzi scheme in human history. That’s why they can’t let a recession happen that has the potential to expose just what a house of cards this all is.
    1
  1569. On the news today, they were saying a bunch of NYC garbage men made close to $300,000 in 2020 with all the available overtime due to Covid. Of course that means their pensions will be spiked accordingly. Good thing Biden’s stimulus package bailed out public pensions.
    1
  1570. This whole debt Ponzi scheme starts at the top. If the USA (and other nations) ever have to end multi trillion deficits and live within their means, the whole house of cards comes down big time.
    1
  1571. The housing market has been a fraud for decades. Let the free market decide interest rates, get the Fed out of the mortgage purchase business, and force the Feds to balance a budget. If so, houses will be 20 cents on the dollar of today’s prices.
    1
  1572. I follow the Moskva, down to Gorky park, listening to the Winds of Change…
    1
  1573. How does one best survive the upcoming biblical collapse? Fiat currency will be worthless, there will be ultra-violence and starvation everywhere. Wouldn’t it be better if we were the lucky ones who were dead or killed early by the post-apocalyptic madness?
    1
  1574. Those weren’t, by a far margin, the best Soviet tanks with the best Soviet tank teams. Those were outdated Soviet tanks with undertrained and scared Iraqi tank teams. Let’s see how well US and German tanks fare with inexperienced Ukrainian crews fighting the Russians best tanks and tank teams.
    1
  1575. Mortgage rates are up 67% in little over a month. And now they Fed is looking to unload its $9 trillion balance sheet? There’s gonna be a massive credit crunch.
    1
  1576. The more I learn about Elon, the more I like him. He’s spot on about how corrupt and biased these giant social media companies are. It’s not an open forum. They censor content based upon an agenda - which is currently the woke agenda.
    1
  1577. This border tsar idiot blames “climate change” for the millions of illegals storming across the southern border.
    1
  1578. So in response to the Great Financial Crisis, since then… >…the US more than doubled its debt that it already had no chance of paying back. >the Fed turned itself into a straw man buyer of $9 trillion of mortgages and treasuries. We are so, so much more levered and worse off than in 2008.
    1
  1579.  @chambersofmadness3730  So? Lands switch hands all the time. Nobody has the high road to claim it’s theirs
    1
  1580. Seeing all those big gulps of cold beer made my mouth water and I could taste it.
    1
  1581. Biden, Most corrupt president in US history.
    1
  1582. The whole point of a HD is that special roar of its iconic ICE. An EV HD is an oxymoron that will fail miserably.
    1
  1583.  @craiglisstjoe5561  I get your point but now they’ve created a bubble bigger than 2008 that is going to destroy millions of households and lives once it pops. This is a perfect example of government “solutions” to any given problem is to make it 1000x worse.
    1
  1584. 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
  1585. We should never have leaders so incredible old and feeble like Biden and Yellen that will be dead before their horrible decisions bring down the country. To make better decisions, they need to be be alive to be subject their citizens vengeance.
    1
  1586. I admit I would never have imagined we could keep this Ponzi scheme going at $32,000,000,000,000.00. But how much longer can this really go on without serious consequences?
    1
  1587. We’ve been robbing from the future for decades, but especially since 9/11. Sooner or later, the future becomes the present.
    1
  1588. Well of course Democrats want to keep the Roe holocaust going: 63 million lives and counting. As Janet Yellen explained, killing babies is good for the economy.
    1
  1589. Vlad the Impaler never thought he would be outdone.
    1
  1590.  @unknownalias5538  Sure they did. But mostly price increase were just lessened by manufacturers seeking lower and lower cost inputs across the globe.
    1
  1591.  @unknownalias5538  That’s GM and unions for you, and why GM makes so many vehicles aboard now.
    1
  1592.  @unknownalias5538  It’s funny you mentioned Honda Civic. I just bought one and it was close to $30k. It’s a nice car but still…
    1
  1593.  @unknownalias5538  It’s an EX sedan. Actually I paid $27.8 ($1500 over sticker) for the morning mist silver blue metallic,
    1
  1594. Unlike anyone in a Biden administration, Musk is an African American who got his job and success due to being qualified for it.
    1
  1595. Israel has cut off food but it looks like there’s plenty of dead bodies to eat!
    1
  1596.  @mariesbudgets8814  I agree it sucks but the problem with Soc Sec is it was originally set up just like a Ponzi Scheme. The first recipients paid very little into the scheme but got the most out (per dollar invested). Now we’re facing more money going out than back in and there’s nothing but an IOU to pay out the difference. And all the money we put in is gone. It was paid to older retirees. So it only continues as long as new younger participants are willing to play a losing game. Classic Ponzi scheme collapse.
    1
  1597. But, ironically, the debt still increased every year under Clinton as well. Go figure?
    1
  1598. When you put together a cabinet of gays and coloreds, this is the expected result.
    1
  1599. There’s a dead cop with a missing face somewhere
    1
  1600. Fed balance sheet expansion (QE) drives inflation higher and higher. Worse, the $9 trillion in Fed assets (mortgages and treasuries) all pay below current market rates. So the Fed is going to lose hundreds of billions of dollars shedding this garbage off their books. And when the Fed loses money they must be made whole by the taxpayers.
    1
  1601. The Fed has completely lied about mortgage QT. They were supposed to have unloaded tens of billions of mortgages but instead they have added even more. I don’t think there’s enough non central bank buyers out there for these toxic money losing assets.
    1
  1602. Illegal immigration plays a huge role in housing shortages and their exorbitant costs. Plus all the lower end wages are suppressed.
    1
  1603. That makes a ton of sense. Now we have cities the size of Spokane, WA wiped off the map.
    1
  1604. I used to like Bill Nye. He was so funny as speed walker superhero on Almost Live. But now he’s just a pompous liberal hack prick.
    1
  1605. It’s worse this time as the economy only remains of life support with continued unsustainable multi trillion annual deficits. $2 trillion annual deficits are the equivalent of 20 million $100,000 jobs. 20% unemployment is our near future.
    1
  1606. The Fed had already hedged by saying full employment is their ultimate goal. So if they turn down the money printer and the economy starts to shrink they will reverse course. So they are committed to high inflation, dollar destruction, and product shortages and outages.
    1
  1607.  @Jake-fe4uf  Ugh. What’s the point of even having an inflation metric if it doesn’t reflect the cost of the things we actually need to survive? The world we live in is totally rigged.
    1
  1608. That generation greatly benefitted from the post WW2 industrial monopoly the US enjoyed. Plus they got the largesse from three social security Ponzi scheme and the benefit of all the US deficit spending. The US is going to suffer for generations to come because of it.
    1
  1609.  @dragani2330  I see your point. Hamas acts on 10/7 including the taking of hostages were acts of terrorism. But you’re right, Israel’s campaign to eradicate Hamas is a war.
    1
  1610. Disgusting pigs. Burning Man is the human pinnacle of hypocrisy.
    1
  1611. It seems Arrondo is all lawyered up now and in CYA mode. Complete cowards to not engage an active shooter. The George Floyd effect. Cops are erring on the side of non-engagement.
    1
  1612.  @jimsager3297  Um no, for a short time blacks were the cheap forced unskilled labor for southern agriculture until machines and the internal combustion engine made them unnecessary. Brown people play a similar role today, although unforced.
    1
  1613.  @jimsager3297  The minute we start acting that way is racism ends. But when we have NAACP, BLM, black caucus, Latino caucus, and so many other organization dedicated to benefit a specific race, racism will never end. We need to stop seeing everything that happens not through a racial lens but a people lens. We have a long way to go.
    1
  1614. When Reagan and Fed Chair Volcker crushed inflation in the early 1980s total US debt was barely $1 trillion. Now we throw around several multi-trillion dollar spending packages a year. Today’s Fed would never have the guts to do what Volcker successfully did. Fixing inflation today means the US is insolvent.
    1
  1615. So we bought $100 billion more in foreign goods than we sold to other countries? How are we even pulling this off for so long without US cupboards being bare? I gotta give the financial wizards credit for pulling off this scam on the world stage while the rest of us are oblivious.
    1
  1616. Nice to know you can vandalize the White House without consequences. Just like all other crimes in America. But don’t protest election irregularities or you will be in jail for years.
    1
  1617. $14B to neutralize terrorists vis a vis having the nasty IRS hassling us? That’s a no brained.
    1
  1618.  @petep5207  Um no, more like gang rape.
    1
  1619. Why kind of ridiculous mask is that “dude” in the background wearing.
    1
  1620. In the current era of readily accessible information, how can these asshole leaders ever get kids agree to sign up for this type of nonsense ever again?
    1
  1621. The reason they lie to is to control our behavior. They asked Bernanke after the housing crash how he didn’t see it coming. He said he absolutely knew it was coming just couldn’t admit it.
    1
  1622. 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
  1623. The Fed balance sheet is dog shit. It’s filled with 2.5% mortgage bonds and 1% treasuries. Who is going to buy this garbage when inflation is 8.5%?
    1
  1624.  @electiondefensefund3800  I’m not religious nor spiritual so I’m not one to ask.
    1
  1625.  @electiondefensefund3800  Huh? We were taught evolution just like most public schools. There may have been a theological elective course but the science courses and curriculum stuck to science.
    1
  1626. Democrats are like the crazies from centuries ago that tortured and executed those that said the world was round. Or the ones who rounded up the “witches” in Salem. Even in the best of circumstances, many times common thinking is later determined to be false. That’s why we have free speech so we can discuss things.
    1
  1627. I wish America could do this with all their criminals, thieves and deadbeats.
    1
  1628. If the Fed was going to “fix” inflation they wouldn’t still be running the money printer and leaving the rates they control at 0%.
    1
  1629. Dudes gotta defunct Seattle SuperSonics jersey and skeleton tattoos. No wonder she was freaked out.
    1
  1630. When are the citizens going to revolt about high inflation and the Fed Ponzi scheme?
    1
  1631. 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
  1632. This is getting beyond scary. The west should be negotiating a peace, not continuing to fund and escalate this war with their best equipment. We are going to provoke the Russians to start using nukes.
    1
  1633.  @Steve-gc5nt  Madness. Let the northern hemisphere perish in a nuclear catastrophe just to avoid peaceful negotiations? Too many people are letting their extreme hatred of Putin cloud any rational judgment.
    1
  1634. If you really want to know how bad the economy is, just force the federal government to live within a budget.
    1
  1635. I don’t see how we don’t have a recession of biblical proportions soon. We severely robbed from the future to minimize the pain of downturns for the past 13 or so years. Most people got fabulously wealthier during the pandemic. That was just debt fueled wealth - and these short sighted decisions will come home to roost soon.
    1
  1636. These people have a dark ages mindset. All they know is revenge and war.
    1
  1637.  @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
  1638.  John Baptist  Usually underwriting wants to look at tour liquid assets before they approve you
    1
  1639. How much was US debt and debt service costs in 1995-96? Very different scenario. It all comes down to one thing: how much longer can the US run multi trillion annual deficits?
    1
  1640. Where do you live in WA?
    1
  1641. When Biden and his corrupt lackeys open their mouths, you can be assured they are lying. Inflation is transitory, no recession, Afghanistan won’t fall to taliban, can’t define a woman, border under control, etc etc etc. Carter must be tickled he’s no longer America’s worst President.
    1
  1642. That’s nuts. You would be $300,000 upside down in 2 years and won’t be able to refinance.
    1
  1643.  @pinknachas324  The Fed’s tools to slow inflation are what is going to crash the housing market. Rates have risen 70% and continue to rise. Plus, the Fed has stopped buying mortgage bonds which is going to force other lenders to be much more picky on buyers. So the buyers are quickly drying up. I bet we start seeing price declines in a month and it will only accelerate.
    1
  1644.  @pinknachas324  No I don’t think inflation is going away any time soon. If the Fed was serious about inflation they would raise rates higher than inflation like Volcker did. They won’t do that for obvious reasons. But it’s not going to take rates going much higher to make home prices drop 50% or more, even with inflation.
    1
  1645. I wouldn’t touch banks until the Fed restores reserve ratios.
    1
  1646.  @nbibby  There are plenty of investment vehicles besides US bonds. There will be a tipping point in the not so distant future where investors won’t touch them due to the high probability of default. In fact, the major entity buying them since the GFC has been the Fed. The Fed should unload their $9 trillion balance sheet onto the private sector - but rates would skyrocket and the US would immediately be insolvent.
    1
  1647.  @GregTom2  No, it isn’t and will prove to be our undoing. Our founding fathers warned us about debt and it’s perils.
    1
  1648. In the 70s they told us to stop using fossil fuels because “we were running out.”
    1
  1649.  @Raptoraddict6610  Yep. Just more lies for money and power. It’s worse than the worst religion.
    1
  1650. There’s a $300 trillion debt bubble that world economies will eventually have to address. When they are forced to, it’s game over.
    1
  1651. Joe isn’t even capable of being a Walmart greeter. He would wander off to one of the homeless RVs and start mumbling something about corn pop.
    1
  1652. How can fake or duplicate accounts accounts be exposed? Seems like a tedious process. Maybe that’s the point. Audit 1,000 random accounts and extrapolate and estimate amount of fraud? Speaking of that, we should have done a similar audit of our election results.
    1
  1653. I’m 55. Let’s just keep the Ponzi scheme going another 25 years.
    1
  1654.  @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
  1655.  @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
  1656.  @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
  1657. Tablet magazine reports that many of the women executed at the festival were raped “next to their friends’ bodies, dead bodies” before being killed. Some of those who survived were kidnapped and seen “paraded through the city’s streets” in Gaza by their captors, “blood gushing from between their legs,” Tablet reported.
    1
  1658. Excellent data Nick!
    1
  1659. Anybody that’s ever received a private sector paycheck needs to thank trickle down economics.
    1
  1660. And now we have political candidates running on “occupying” vacant homes. If these people can’t take care of themselves when jobs are so plentiful, what happens when we have the impending recession?
    1
  1661.  @carylhalfwassen8555  Perhaps. I just don’t see banks lending at 3% when inflation is at 5% if the Fed wasn’t taking these loans off their books. Once taper begins, that could trigger much higher rates and a home price collapse. People are greedy: even some of those with good credit will walk away from their homes if prices get low enough and they cannot sell.
    1
  1662. Kids want attention. And joining the capital letter mafia gets them attention.
    1
  1663.  @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
  1664.  @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
  1665. Here’s the thing. This whole QE money printing scam was unprecedented. Nobody really knows what’s gonna happen when the Fed dumps their $9 trillion balance sheet. Worse, all those assets offer a negative rate of return. Who is going to buy that garbage?
    1
  1666. There’s a 99.99% chance that Medicare, pensions, and social security will be worthless soon. Could be 2 years, could be 10 years. I suspect it’s closer to 2 years for when we see things start to go haywire. The voters and the folks they elect demand massive deficit spending in perpetuity. This will ultimately result in default or the dollar becoming worthless. What I don’t understand is why people that depend on pension, Medicare and social security don’t demand fiscal discipline to save their future. People are gonna be pissed but they have no one to blame but themselves.
    1
  1667. That it awesomely inspirational! War is awful but there is nothing more justified than protecting your families and homeland! Go Ukraine!
    1
  1668. Doesn’t look very orderly. Can’t these people queue up in lines with women and children first?
    1
  1669. The Fed and other central banks deny and delay any response to inflation because they purposely created inflation. You can’t print trillions from thin air to buy assets without bidding prices up.
    1
  1670. Bad ethics. You borrow money you pay it back. Horrible to teach your daughters it is somehow ok to be irresponsible with credit. And worse, those who could NOT afford college are the ones who will now subsidize your daughters “free” Biden money. Awful policy.
    1
  1671.  @k8aitch78  The point is you clearly stated you are going to wait to pay off the loan balance in case Biden gives away tax money to bail out college deadbeats. Are you saying you WON’T accept the $10k per kid in college deadbeat dough? Please elaborate on what exactly it is we aren’t reading or comprehending?
    1
  1672.  @k8aitch78  Obviously we don’t know details because Biden still hasn’t decided how much if any. However, if you take the money you are teaching your daughters that being a dead beat and NOT paying your responsibilities is somehow ok.
    1
  1673.  @k8aitch78  You said you thought about paying off your daughters’ loans but are waiting to see if there’s a deadbeat college student bailout first.
    1
  1674.  @k8aitch78  Ok ok. I get what you are saying. I’m just picking on people’s hypocrisy to accept largesse they don’t agree with. In fairness, most people would do the same thing (including me).
    1
  1675.  @ricardoiglesias8877  ARMs have double recently to 20% of the mortgage market
    1
  1676. Well, Russia has thousands of nukes left.
    1
  1677. Yellen couldn’t keep a hot dog stand solvent without constant bailouts.
    1
  1678. Liz MacDonald
    1
  1679. 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
  1680. I find this extremely offensive.
    1
  1681. If the Fed really follows through with turning off the money printer, raising rates and letting assets fall off their balance sheet, Dent will be proven right.
    1
  1682. This is why I love small towns.
    1
  1683. There’s tens of thousands of US abandoned broken humans living in tents and squalor. I so wish we could provide love and health care for them as well.
    1
  1684. Usual garbage coming from the fake Indian.
    1
  1685. 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
  1686. 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.
    1
  1687. I worked as a budget analyst for the State of Oregon Medicaid program. There was a pervasive culture that federal money was deemed as “free” and openly wasted and fleeced accordingly. Some of Medicaid’s programs are paid 90% federal funds - and all sorts of accounting laundering schemes and stillborn projects were used to tap into these unlimited “entitlement”resources. Just look into something called “provider tax” as just one of many examples. I could tell stories of waste and fraud for days.
    1
  1688. If you want to know the true state of the economy, how about let markets dictate interest rates and force the government to balance the budget.
    1
  1689. 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
  1690. In all fairness to Powell, my personal experience working in US government agencies suggests the Fed has been infiltrated, infected and corrupted by a bunch of woke cockroaches. These folks hate free markets and want to weaponize and manipulate the system to serve their woke objectives like racial abc gender equity and other nonsense. I’m sure this plays into why the Fed is so dysfunctional and does more harm than good.
    1
  1691. The thing is what did people learn from the last crash? When people get upside down on their mortgage, they put the appliances, fixtures, heat pump, and anything else of value in their U-haul and leave the keys on the counter. Sure they will get bruised credit but they will just blame it on the Covid bubble. No consequences. Rinse, repeat. Honestly, I think that’s a big reason people aren’t afraid to buy at market peaks.
    1
  1692. Yup. Remember in 2006 when Bernanke said housing was fine? He later admitted he knew we were in deep shit but couldn’t admit it publicly. So the so called experts pulling the levers on the economy readily admit they constantly lie to us.
    1
  1693. The top 1% pay 40% of all federal taxes. The bottom 50% pay $0 in federal taxes. In fact, most of those get PAID in EIC, food stamps, child tax credits, etc etc
    1
  1694. @Kevin Souza Bull shit. The bottom 50% of TAX RETURNS filed had $0 or less than $0 net tax liability! In fact, in 2020 it was much higher than 50%. Most Children don’t file tax returns.
    1
  1695. This has been a growing financial Ponzi scheme since at least 1971. The scheme hit a new gear with all the QE scams and huge borrowing from 2008 and 2020. Three end games: 1) massive austerity and tax increases; 2) default or 3) high inflation. Politicians will only choose 3 which means they do nothing but let the Fed monetize the problem. This has a very ugly and violent ending.
    1
  1696. Close the schools for 2 years and then when they reopen, fill the children’s heads with hateful racist rhetoric like CRT and teach K-3 kids about sexual irregularities. Put tampons in boys bathrooms. School officials should all be in jail or better yet: hung, drawn and quartered in the town square. Start with Randi.
    1
  1697.  @xsommer8558  True dat! You can add religion to those scams. Get rich by pimping and pumping something nebulous and hard to validate.
    1
  1698.  @jeremyramey3221  The independents will blame the party in power.
    1
  1699.  @johnnaylor1706  Most of that $7.8 trillion was bi-partisan Covid spending that the Democrats wanted to spend even more on.
    1
  1700. When Biden picked a VP based upon a bunch of woke check boxes instead of competence, this is the natural end result.
    1
  1701. Same for most addictions like gambling and others.
    1
  1702. Peter Schiff is king and has been spot on. His only mistake is he underestimated how long the Ponzi scheme can go.
    1
  1703.  @incurab1e  Inflation will eventually force the masses to start making tough choices
    1
  1704.  @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
  1705.  @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
  1706. And we wonder why Trump tried to ban immigrants from these terrorist countries.
    1
  1707. Maybe corrupt career government slugs like Yellen are doing fine, but most of rest of Americans are struggling.
    1
  1708. Such a stupid statement. Everything normalizes over enough time.
    1
  1709. It will be a little sticky getting started but at some point of price reduction, supply will come on-line and turn into a rout worse than 2008.
    1
  1710. The silver lining for all the renters getting either evicted or no longer cam afford your rental, the Biden administration is giving you a 30% discount on solar panels! So you got that going for you!
    1
  1711. When you have a quarter million of desperate third world people storming across your southern border every month, your country will go down, not up.
    1
  1712. Apparently the left now condones physical violence when you get your feelers hurt. Where are the assault charges? What an embarrassment the left and the entertainment circus has become. No wonder nobody watches their crap.
    1
  1713. US government officials lie and manipulate the reality of high inflation because it was their massive deficit spending and money printing that caused it.
    1
  1714. So we beat up police for 2 years blaming the’ for black criminality and defunding them, but now we expect them to immediately give their lives?
    1
  1715.  @mickandme1  Yes, they killed the killer. It’s easy to second guess that they should have entered sooner. Let’s let the facts come out and make future corrective actions as necessary.
    1
  1716. I got a degree in Economics in the 1980s. The twisted, bastardized, debt Ponzi Scheme version that this woman and Biden Administration espouses would make all my professors go mad with anger and disgust. This country’s economy is on borrowed time.
    1
  1717. 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.
    1
  1718.  @Mavendow  How can this be defeated? I see no other path except painful austerity which the voters nor politicians will never have the guts to do.
    1
  1719.  @JohnSmith-mo4yh  Are you aware of 18th Scottish history professor Alexander Tytler who studied countless democracies and found out they all ended this same horrible way? 100% of the time the people eventually devolve into just voting for candidates that offer them the most “free” stuff without regard for how to pay for it. And that free stuff results in economic collapse. Yes, buy gold and silver.
    1
  1720.  @JohnSmith-mo4yh  And I’m personally not a crypto fan but if you can afford it, it couldn’t hurt to have some of that as well.
    1
  1721. You said 2% when you meant 2 points again lol.
    1
  1722. The idiot liberal mayor of Portland, OR and his child rapist sidekick got taunted by a single person while eating dinner - and he called it completely unacceptable. Seems they don’t like when they get harassed as well.
    1
  1723. Unmarried white women with a copious amount of tattoos. That’s your prototypical Kamala voter.
    1
  1724. The only responsible thing to do was pay the insured $250k for each account, liquidate the bank assets and divide what’s left in an equal % amongst the remaining accounts. This would in all likelihood be a 10-20% haircut tops for all customer deposits > $250k.
    1
  1725. Stock prices love certainly. Plus, a 75 bps shows more Fed resolve to curb inflation.
    1
  1726. He’s right. And I don’t understand why the US is escalating this war and provoking Russia with another $40 billion in war aid. There should be peace discussions, not escalation of this unnecessary war!
    1
  1727. 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
  1728.  @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
  1729. $40B for Ukraine, $320B for deadbeat college students
    1
  1730. The US is addicted to low interest rates and massive deficit spending. That has now led to inflation. We’re screwed.
    1
  1731. Fed policies and record deficit spending over the last 14 years just built the biggest Ponzi scheme bubble in history. The imminent crash will be far worse than the Great Depression.
    1
  1732.  @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
  1733.  @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
  1734.  @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
  1735.  @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
  1736. Oregon has a bill that gives food stamps to illegals.
    1
  1737. Although Schiff thinks BTC is worthless.
    1
  1738. Yeah, cause is makes sense to tap into strategic reserves during a war. At least that’s consistent for the idiotic Biden Administration. FJB!!!
    1
  1739. Janet Yellin claims the welfare boondoggle will lower inflation because it will reduce household costs. This woman is either completely lying or completely looney toons or both.
    1
  1740. I was thinking same. I’m expecting a brutal retaliatory escalation on the Russian side.
    1
  1741. Crazy. All my economics professors from the 1980s are spinning in their graves. This debt Ponzi scheme will unleash inflation soon.
    1
  1742. Where in E. OR?
    1
  1743.  @Dc-oe8qe  I grew up in Pendleton. Union County is beautiful. Spent my youth battling your Tigers in sports. You know any good cabin builders over there?
    1
  1744.  @Dc-oe8qe  When my parents had to sell our house in the early 80s, they took a nice piece of view property in Cove. I wish they didn’t have to sell it. I also saw recently Union made the top 10 list of Oregon small towns. My mom grew up in Joseph. Beautiful country.
    1
  1745. I’ve always liked Mr. Freedom. The pro-Palestinians are always maniacal about the destruction of Israel. Everyone knows this. The rest of the protesters are from the liberal disease. They are incessantly desirous to be activists and seek out "oppressed" in this world - no matter how ridiculous or backwards the cause. Group think on steroids.
    1
  1746. Inflation is either going to get a lot, lot worse or the Fed needs to crash the economy. Those are our only two choices and they are both equally draconian.
    1
  1747. Real rates aren’t even a positive number yet. The Fed needs to keep raising.
    1
  1748. 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
  1749. 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
  1750. 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
  1751. Musk’s $11B in taxes is just 1/4th of what the US just sent Ukraine to escalate their war.
    1
  1752. I’m finally starting to see regular price cuts and “back on market” notices from Redfin and Zillow here in Salem, OR. Here’s the thing tho, they are still about 50% or more over priced.
    1
  1753. Funny. America under Democrats has turned into North Korea who fakes abundance and quality of life when foreign cameras are rolling. Are we really so naive to think Xi and the Chinese aren’t aware of how SF normally looks?
    1
  1754. The economy is only on life support due to $1 trillion in deficit spending every 100 days. Just think how bad things would be without all the unsustainable deficit spending?
    1
  1755. 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
  1756. This is the type of chaos that ushers in communism. Remember when Dr. Zhivago returned to his home after communism?
    1
  1757. This reeks of a similar “tit for tat” eventual nuclear war scenario as described in the Nuclear War catastrophe fictional movie “Threads.” Except instead of Iran it’s Ukraine. And it will be much scarier in real life. Scary stuff indeed.
    1
  1758. Awesome! Maybe that will go down as General McCauliffe’s heroic response of “Nuts!” when asked to surrender by the Nazi’s.
    1
  1759.  @SabrinaDacosta  Well when 40 million Americans can’t feed themselves, they certainly couldn’t pay 60% tax. Remember due to credits and deductions, 50% of Americans pay 0% in federal taxes.
    1
  1760. 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
  1761.  @TheUmbrex  Haha true
    1
  1762. The Fed should never have used QE to manipulate debt markets acting as a straw man buyer of $9 trillion in treasuries and mortgage bonds. Now they are going to lose billions upon billions unloading these money losing assets, not to mention it’s going to pop bubbles. History will show QE was a huge mistake.
    1
  1763. What’s the difference between the $26.2T debt number and the $30.5T number?
    1
  1764. When that idiot Paul Krugman speaks, it makes my hair spontaneously combust.
    1
  1765. The earnings reports are awful because these companies ATE most of inflation costs increases. But these companies will eventually be forced to rise prices to restore their margins. That’s when things get really ugly. Death spiral…
    1
  1766.  @archprizm6066  Then why don’t you buy at your special 10% “wholesale” price and undercut target and Walmart by selling at 50% of their prices? You would be rich in no time.
    1
  1767. The Fed has lost all credibility since Paul Volcker. They’ve been in the business of keeping a massive scheme alive ever since.
    1
  1768. But if the Fed and Yellen had been honest about inflation that it wasn’t transitory, I highly doubt SVB would have purchased those longer term assets. But then again, this inflation was obvious to anybody paying even the slightest amount of attention.
    1
  1769. Remember a trillion is a million million. So every time an extra trillion is added to the debt, it’s gonna take wiping out a million US millionaires to pay it back.
    1
  1770. I had no idea we were living in a 0% reserve requirement once again thanks to Covid. Why has kept the Fed from restoring this requirement? I think the US banking and financial system is much worse than they will tell us.
    1
  1771. I don’t envy the Fed. If they don’t fight inflation there’s gonna be massive civil unrest. But the only way to fight inflation is to raise interest rates higher than inflation, turning off the money printer and unloading their $9 trillion in mortgages and US debt.
    1
  1772. Sadly, our credit and appraisal markets don’t work that way so banks have to loan based on credit worthiness and independent appraised values. But keep in mind the Fed bought $3 trillion in mortgage bonds recently so the Fed (taxpayer) took on the risk. Now if you really want to know who to blame it’s ANYBODY willing to loan their money to the Federal government. Most everyone believes they have zero chance of repaying their $30.5 trillion debt.
    1
  1773. I really thought the Ukraine War was a black swan but apparently not unless nukes start landing or it expands considerably.
    1
  1774. If EVs were going to save the planet, why is the Biden administration putting large tariffs on the cheaper ones and giving massive subsidies on the more expensive ones?
    1
  1775. What is that ding bat AOC doing talking about middle east geopolitics? Way out of her league.
    1
  1776. What is it about gay women that makes them seem like adolescent boys?
    1
  1777. Actually it’s the opposite. Russia can never win. At best for Russia, It’s just going to degrade into guerrilla attacks chewing up Russian military just like Afghanistan and Vietnam.
    1
  1778. Doesn’t that stupid fool have an economics degree? Did she ever crack a book or show up for class even once? And yet she’s one of the 500 or so people running the country. We’re so screwed.
    1
  1779. Higher royalty means higher gas prices. These people are idiots. FJB
    1
  1780. Alexander Tytler in 1787 said democracies fail 100% of the time because voters eventually devolve into voting for the candidates that offer the most free stuff, bankrupting the government and changing the democracy into bondage and dictatorship. We’re well on our way.
    1
  1781. When you career has advanced by sleeping with your superiors, this is the likely result.
    1
  1782. We are living in the biggest Ponzi scheme in the history of humanity. The only thing keeping it alive is higher and higher deduct spending and “stimulus” boondoggles.
    1
  1783. HR departments wouldn’t need to exist if companies got rid of all this woke deadwood. Fire them all.
    1
  1784. Did you even watch? Nick said even with the inventory increases they are still below historical norms. It’s another crack in the housing bubble though.
    1
  1785.  @fnamelname7296  Burry almost lost his shirt waiting for the housing bubble to collapse - even though it was obvious it was gonna happen. It always over corrects. When it starts to collapse, it will fall for years.
    1
  1786.  @fnamelname7296  Yup. I presume he already is.
    1
  1787. Google founding fathers thoughts on public debt. Our founding fathers would be so incredibly disappointed. Many talked about how generations getting the benefit of the spending and then expecting future generations to pay for that debt is about the cruelest and worst thing the country could ever do.
    1
  1788. I find it hilarious that Elon effectively used green energy government largesse to buy and shut down the woke mafia at Twitter.
    1
  1789. Liberal cites: Homeless filth Record crime and murders At will looting Decriminalized drug use Defunded police High taxes Riots Liberal agenda crammed down your throat More stringent Covid restrictions More woke nonsense George Floyd statues… I could go on all day. Why are people moving to conservative areas again?
    1
  1790. This looks 1000x worse than the January 6th protests in the US. And it’s over high fuel prices? Yikes, wait till we get real problems.
    1
  1791. The left invented bigotry. Two more recent examples are Obama disparaging those who “cling to their bibles and guns” and the current occupants of the White House branding anybody who disagrees with them as “MAGAs.”
    1
  1792. This is awesome news for free speech and to limit the nefarious agenda of the woke mob!
    1
  1793. What a mockery Brandon has turned this country into.
    1
  1794. Although I agree that assets are in a huge bubble, I don’t necessarily think Musk and Bezos have some sort of inside information of a imminent crash. These guys are worth hundreds of billions. What they are doing with 10 billion here, and 10 billion there is probably just window dressing and portfolio diversification.
    1
  1795. Jean-Pierre got the job solely on being a gay black woman. How is that not racist?
    1
  1796. This is garbage fake news. Jobs have only held up thus far because we’re barely a year removed from record trillions upon trillions in spending and money printing and still a high from all that sugar. Money supply increased 80%. The Fed has only just begun to raise rates and shed assets. They have $9 trillion in assets to unload. Fed rates are only 1.625% versus 9.1% inflation so they are going much higher. We have record debt, record car loans. Student loan payments are resuming. Company and personal bankruptcies are going to start spiking. Zombie companies will be exposed and bankrupted due to higher rates. We are headed into our worst recession/depression in history.
    1
  1797. Interest rates are the stoplights of the economy. The Fed made those rates artificially way too low and for way too long. Under normal free market circumstances, loans won’t be made for negative real interest rates. The Fed (and deficit spending) made this mess and there’s no way out without a massive recession and wealth destruction. We are living through the unraveling of the biggest Ponzi Scheme in human history.
    1
  1798. Private schools > public schools Private prisons > public prisons In fact, there’s pretty much nothing the private sector doesn’t do much better than government.
    1
  1799. Don’t raise the debt ceiling. The government rakes in $3 trillion a year in guaranteed revenues in perpetuity. Plus programs like soc sec and Medicare have their own dedicated funding streams. The government could easily figure out how to continue to run things by not raising the debt ceiling, default or shutting it down. Just incompetent hyperbolic drivel.
    1
  1800.  @BringingTheHeat-VBC  I hope you own plenty of guns to help you sleep easy. When the collapse occurs, the violence and home invasions are going to be biblical.
    1
  1801. The Fed blew the housing bubble. It’s up to the Fed to pop it.
    1
  1802. Ugh I thought only America had those antifa jerks
    1
  1803. Honestly, I don’t see much difference between butchering an unborn child in the womb or killing a newborn in their crib. And the “my body, my choice” argument is bunk. The child in the womb has its own body and unique DNA. It’s just renting the space for a few months.
    1
  1804.  @nineofhearts6020  If you’re participating and promoting the scam, you are part of the problem. Many lenders and others folks in the housing industry in the mid 2000s knew their borrowers couldn’t afford their loans. Yet they did it anyway. Complete sleaze bags.
    1
  1805. Inflation hurts the economy too.
    1
  1806. Those poor farms getting all pocked up.
    1
  1807. One rental maximum. Domestic buyers only.
    1
  1808. If there are 7 rate hikes in 2022, houses will be down 50%+ by 2023. The Fed doesn’t have the guts to stop inflation the way Reagan-Volcker did.
    1
  1809. Mind boggling and yet so fascinating to ponder. What’s the point of the seemingly limitless space?
    1
  1810. Unions are a big reason we don’t make anything in this country anymore. The world is competitive. Unions reward longevity, not productivity.
    1
  1811. All true Nick. And yet with all those problems, the federal government is tacking on $1 trillion in added debt every 100 days to keep its debt Ponzi scheme alive. Those deficits translates to millions of jobs that wouldn’t exist otherwise. Nearly everyone agrees it’s unsustainable. The only question is when it pops…
    1
  1812. I hope this leak backfires on the Dems and a real SCIENTIFIC discussion occurs about the beginning of life. Abortion is the destruction of human life. That is a scientific FACT.
    1
  1813. I hope as the Israelis exact their revenge against these terrorist thugs they chant the Yiddish version of Allaha Akbar!
    1
  1814.  @IAllegedly  So true. I can’t help but wonder if someone had a crystal ball and told you that stocks and housing would crater 80% and the dollar would become worthless in 6 months, people would definitely spend the next 6 months differently. Ir just seems so fishy that the Fed has just magically purchased $5 trillion in treasuries and mortgages with money created out of thin air since Covid began to not have a horrible ending.
    1
  1815. Good. Time to vet this propaganda.
    1
  1816. The markets rallying really makes no sense. The markets hate uncertainty and the world is more uncertain than ever right now. This could easily turn into a world war.
    1
  1817.  @Lenny1337i  Oil is definitely pricing in a world economic slowdown. Biden emptying the SPR is bringing oil down prices a bit too.
    1
  1818.  @bonuphide  Oh so if a kid is expensive it’s not worth saving? Good to know.
    1
  1819.  @frankgrabasse4642  It’s only a matter of science until babies survive first trimester and earlier. So you’re saying just because China murders unwanted kids, the US should too?
    1
  1820.  @bonuphide  I find it ironic that because the pro-abortion crowd will never win the science argument, they have to justify abortion because it cost. Killing an innocent child is never justified.
    1
  1821. In other news Anheiser-Busch just announced it has entered a marketing partnership with Hamas.
    1
  1822. Huge upgrade from granny “transitory” Yellen and the other Biden administration nut jobs that couldn’t run a lemonade stand.
    1
  1823. 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.
    1
  1824. Which is exactly why this is a bailout. Taxpayers will be on the hook to backfill the FDIC.
    1
  1825. The US is adding $1 trillion debt every 100 days. We won’t pay the debt because to do so would collapse this Ponzi scheme economy. Just balancing the annual budget would cause an economic collapse. Worse, every day we wait to get our fiscal house in order the worse it’s going to be.
    1
  1826.  @stephenkutney9626  Yep, and that is scary.
    1
  1827. To this very day, the Fed is still printing billions every month buying up mortgages and federal debt. The two rates they control are still 0%. Yet all they do is talk and say they are serious about controlling inflation. Why are they lying? Because talk is all they can do. The only way to stamp out inflation is to do what Reagan/Volcker did and raise rates well above the rate of inflation. Mortgages would be 10%. Business investment costs would skyrocket. All the bubbles the Fed CREATED would pop. So all they can really do is just talk and pretend to care. That’s all they can do. The Fed it just hoping and praying a massive recession will kill demand and bail them out from getting blood on their hands.
    1
  1828.  @Kevinw4040  All true just that we can’t pay on the national debt as it is. We borrow money to pay the interest.
    1
  1829. KJP is racist idiot but in all fairness when your boss says “raise business costs (taxes) to reduce inflation” it’s kind of hard to defend.
    1
  1830. Actually, if CA can get the Feds (Medicaid) to pay for most of it, it will actually pour money into California’s economy. It’s the scam of entitlements.
    1
  1831. 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.
    1
  1832. Can crime get any worse in DC?
    1
  1833. Price a beer at the Grand Californian bar. $15 plus tax. Rooms start at $400 per night with no perks. We stayed in a suite 1/2 mile walk away with free breakfast buffet for closer to $100 per night.
    1
  1834. 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.
    1
  1835. Since an education is a time trusted path to greater income potential, delaying and forgiving student debt has to be the most regressive ever giveaway to the wealthy paid for be the lesser uneducated poor and middle classes. What % of the population can possibly be in favor of this insanity? Those with student loans and their family? I sense a moral hazard coming - if the wealthier educated don’t have to pay their bills and taxes, why should anyone?
    1
  1836. 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…
    1
  1837. In 1787, Scottish professor said all democracies are doomed to fail because eventually voters lose sight of the big picture and only vote for candidates that promise the most free stuff. This leads to bankruptcy and collapse of the democracy, ushering in an authoritarian regime. It seems to be playing just as Prof. Tytler predicted.
    1
  1838. Why does the 13% think they can just take things that don’t belong to them?
    1
  1839. Why should being on military deployment not make you responsible for the bills you agreed to pay? And I’m sure if they called WF and explained their situation, they would work with them. These are people that just chose to stop paying their car loans.
    1
  1840. Only person left on CNBC who speaks the truth is Joe Kernen.
    1
  1841. Remember all those Ukrainian flags in America after Russia attacked Ukraine? Where are all those friends for our much greater friend and ally, Israel?
    1
  1842. 12% with no homeowners insurance? I didn’t even know it was legal to not have insurance if there’s a loan on the property.
    1
  1843.  @trylottie2372  Interesting. Although I suspect these people will demand FEMA bail them out or try to find someone with deep pockets to blame if they ever have a significant loss.
    1
  1844. I suspect Russia is using their satellites to watch closely for these new tanks to cross the border. And when they do they will be bombed and strafed into scrap metal. For the first few months I was rooting for Ukraine. Not anymore. They are determined to drag the US into a wider conflict and possibly nuclear war.
    1
  1845. Why shouldn’t regular Americans mimic the unsustainable debt spending that its government is doing?
    1
  1846. $2.5 trillion in extra credit limit will last what, maybe a year? Time to slash government spending!
    1
  1847. “The US has the potential to…” Way to hang your self out there Mohamed.
    1
  1848. Biden: “the less white the US is, the better”
    1
  1849.  @cherrygarciafan  $8 trillion in money printing just since GFC and printer still on full speed at $120B/month.
    1
  1850. Just simply currency devaluation from $5 trillion in Fed money printing and massive deficit spending all for covid. Pretty much all hard assets - houses, cars, stocks jumped 40% or more. Many dealers were getting sticker plus which rolled through to the used car market.
    1
  1851. Democrats deserve to get crushed but what exactly can the republicans do now that the cupboards are so bare? They are going to hand the GOP record debt and deficits, highest inflation in decades, an embarrassed military, war in Europe, and countless other messes. Trump handed over a flawless Bentley and they are giving back a broken down Yugo.
    1
  1852. The Fed won’t admit there’s inflation because their ultra loose money printing accommodative policies CREATED It.
    1
  1853. Realtors are scum. Worse than used car dealers.
    1
  1854. Not political? Can these scum bags like Biden and Psaki ever stop lying?
    1
  1855. Did anybody ever believe the Fed would be able to unwind their $9 trillion balance sheet (as promised) without things breaking? QE was a massive mistake.
    1
  1856. Oh it’s coming. War in Europe, inflation at 40 year highs are just the beginning.
    1
  1857.  @jakebredthauer5100  Yep. We are living in the biggest Ponzi Scheme is world history.
    1
  1858.  @markmower1746  How so? It seems Austrian economics of 40-50 years ago is tested and proven. The nonsensical MMT and massive deficit spending and money printing will only lead to ruin.
    1
  1859.  @markmower1746  How so? We’ve been keeping this Ponzi Scheme alive through record deficit spending, money printing and accommodative policies. Now that inflation has been unleashed we are now out of choices to kick the can any father.
    1
  1860.  @markmower1746  100%
    1
  1861. There’s a reason so many of the corrupt, entitled, out of touch “leaders” got their heads chopped off in the French Revolution. Hopefully, the same occurs here as it is more than deserved.
    1
  1862. 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
  1863. The Covid emergency is over. The federal budget needs to be shrunk to at least 2019 levels
    1
  1864.  @rapsheets4993  But the uninsured deposits are being bailed out by taxpayers. Not right.
    1
  1865.  @realjoedee  I think you’re right. It seems clear they all know they’re running the biggest Ponzi scheme in human history and will do everything they can to keep it going.
    1
  1866.  @earlwoody7084  How is your capital safe when you are vastly upside down on an asset?
    1
  1867. Sadly, the country has under taxed $32 trillion and counting to date. That’s gotta come from somewhere and it ain’t gonna be pretty.
    1
  1868.  @jwdory  I agree with you. Yes, over spending is the issue. But the reality of the overspending means we have to find the tax revenue to pay it back. That’s what I meant by undertaxed. Once the money is spent and added to the debt it has to be paid back plus interest.
    1
  1869. Of course Kumalot Giggles was complaining at the just verdict. Can that idiot be any more unpopular?
    1
  1870. Sadly, those hostages are as dead as the 1972 Israeli Olympians. You cannot reward this behavior
    1
  1871. No. We need to lower taxes so the Federal Government only does defense. Leave it to state and local levies to fund and fix infrastructure.
    1
  1872.  @insolator1775  It’s time to end welfare.
    1
  1873. Why were/are taxpayers heavily subsidizing $50-$100k EVs? Why are taxpayers being asked to fund the EV charging infrastructure? Such a corrupt scam Elon got rich on this largesse.
    1
  1874. Hard to feel sorry for these people. Portland is getting what they voted for.
    1
  1875. Democrats won’t be happy until dollars are worthless. That will just solidify their power.
    1
  1876.  @huwhitecavebeast1972  While I agree it’s a racket, it’s not a racket without consequences and the Fed can’t just manufacture without ruining the buying power of the currency. That’s exactly what got is in this current mess.
    1
  1877. A big reason for the FR was public debt was consuming half of revenue. We’re almost there.
    1
  1878.  @newmankidman5763  I did? Did I do a double negative? The point being these aren’t “Musk” people at Twitter. Better to fire them all and start fresh
    1
  1879. The people that really should have their lives disrupted are the selfish baby killers like the Biden’s and the Pelosi’s.
    1
  1880.  @wayneanderson8034  It seems the AI advice was a few months too late.
    1
  1881.  @alinatamashevich3354  We’ll see. The last 50 years the market has been artificially buoyed by massive deficit spending, money printing and massive robbing from the future. When the shit hits the fan, the market will collapse and stay down for decades.
    1
  1882. The Fed has operated as a straw man buyer of mortgages to the tune of $3 trillion. Plus, they manipulated the interest rates to all-time record lows. That has blown home prices into the biggest bubble in history. Home prices will be 70% lower in 3-5 years.
    1
  1883. Peter Schiff walks the walk and talks the talk. He lives on a island with the benefit of US military protection. And is well diversified owning assets across the globe - not just gold. You can tell he is well prepared for what he is telling us is going to happen. That speaks volumes to his honesty! The only problem with raising the alarm bell is once the masses realize how bad it really is, most will be left without a safety net. Even those with a safety net will be navigating a world of chaos and Uber-violence.
    1
  1884. This must have been the first time Paul Pelosi got hammered and didn’t drive afterward.
    1
  1885. That’s just a sleazy political strategy to shrink his accomplishments,
    1
  1886. Spot on
    1
  1887. Hey Mark, I’m glad you pushed back on Luke’s projection that massive government spending and a $40 trillion GDP could create an opportunity to get our debt under control. The one thing I might have pointed out to Luke is under his scenario a big piece of that higher GDP is from one-time massively higher Gov’t spending itself, so once that slows, GDP drops precipitously. And even higher debt to GDP ratios return.
    1
  1888. 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
  1889. 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.
    1
  1890. 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
  1891. Sooner or later the people are going to rise up and go full on Mussolini on these corrupt officials.
    1
  1892. Since the GFC, the Fed has created $9 trillion out of thin air to buy mortgages and treasuries and still buying $120B/month. Sure this bought us time but just created even bigger problems later. Econ 101 and common sense proves that inflation, asset bubbles, product shortages, currency destruction, and more are all the inconvenient truths of excess money printing. It’s gonna get a lot worse if the Fed doesn’t stop their insane money printing soon. It might already be too late.
    1
  1893. Thank God Brandon’s BBB boondoggle failed or inflation would be 25%.
    1
  1894. People that have been forced to survive by cannibalism say people taste like chicken. So there’s that!
    1
  1895. Joe and Becky are awesome. Get that woke idiot liberal kid off the show.
    1
  1896. I don’t see how we don’t have a recession of biblical proportions soon. We MASSIVELY robbed from the future to minimize the pain of downturns for the past 13 or so years. Most people got fabulously wealthier during the pandemic. That was artificial just debt fueled wealth that was stolen from future taxes - and these short sighted decisions will come home to roost soon.
    1
  1897. $5B? Wait, I thought illegals penciled out?
    1
  1898. Trump was the strong leader we needed that said and did the right things. But look what his corrupt opponents did to him.
    1
  1899. This would be awesome! It’s time to end the radical woke progressive gay mafia’s stranglehold squashing free speech. Go Elon!
    1
  1900. So the Fed has announced they are shutting off the money printer this Spring. Now they are planning on raising rates by summer. But who will buy their $9 trillion balance sheet? Good luck unloading that.
    1
  1901.  @max420thc  When Texas secedes and the US invades Texas to stop it, do you think Russia and China will send Texas hundreds of billions in arms and aid to repel the invaders? Seems turnabout is fair play.
    1
  1902.  @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.
    1
  1903. This old hag and her reckless Fed leadership are the reason we’re in this inflation mess. And employment has only returned to levels prior to lockdowns.
    1
  1904. It should be fixed overnight: you can’t be homeless and must report to a shelter with rules. Why is this so hard?
    1
  1905. “Nike” batteries. Apparently that brand name wasn’t copyrighted.
    1
  1906. They don’t fund it now. Most of the trillions spent on Covid was just paid for with the Fed money printer. And there’s $100 trillion in unfunded liabilities in Soc Sec and Medicare. We’re screwed and few people are talking about it.
    1
  1907. Dan-O! Good one today!
    1
  1908. As this one is laughing and blaming OPEC instead of their own stupid policies, our transportation secretary is on leave playing family time with his husband. Could this administration be any worse?
    1
  1909. It’s time for Israel to add a 2nd Amendment so those homeowners had a fighting chance.
    1
  1910. If you want to know the strength of a leader, look at how they led their own kids. The country is resembling a meth head, stripper chasing junkie more and more every day.
    1
  1911. A black man calling a white man a “virus.” What if it was reversed?
    1
  1912. This is what happens when you build a VP and cabinet by woke check boxes.
    1
  1913. I agree 100%. Without QE, overly accommodative policies, and massive deficit spending, we’re still in the GFC.
    1
  1914. Bezos is wrong. Unions absolutely lead to higher inflation.
    1
  1915. Best and most advanced western tanks? Russia: I raise the bet by tactical nukes to destroy said tanks.
    1
  1916. I guess this good reason to crank up the abortion factories. Not. Makes you wonder if this is from all the enhanced food stamps and WIC. What % of formula is purchased by some sort of welfare?
    1
  1917. Truce? This war has only just began and won’t be over until Hamas is obliterated. You can add Hezbollah and Iran to that obliteration.
    1
  1918. No wonder college students want the taxpayers to refund their tuition. They were just indoctrinated in hate.
    1
  1919. 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.
    1
  1920.  @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.
    1
  1921. 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.
    1
  1922.  @markcarroll5836  My point is the government shouldn’t be incentivizing and wasting taxpayer dollars trying to influence consumer choice. The free market does a fine job by itself.
    1
  1923.  @ozgott1415  Wrong! It’s a tax credit against taxes owed. That’s far more generous than a write off
    1
  1924. As long as history’s biggest Ponzi scheme continues to expand, most economies will be able to spend and manipulate their way out of recessions.
    1
  1925. So Behar said it’s Ohioans fault because they voted for Trump? Unbelievable what corrupt liars the left is.
    1
  1926. Love John Kennedy but I wish he would stop calling it Silocone Valley. Although knowing JK, I suspect it’s on purpose.
    1
  1927. Losing the US dollar underwriting all petroleum purchases and its world reserve status would crush Americans standard of living and the value of the dollar. No more using the money printer to create artificial growth at the expense of the rest of the world.
    1
  1928. Years ago, I talked to a GM exec years ago about why GMs lose so much value in resale. He said a big reason was because they “whore out so many to car rental companies.” He was right on that. People treat rental cars like a cheap whore. Those Tesla 3s suspensions are going to be trash once they leave the rental market. Tesla is making a deal with the devil regarding product resale value.
    1
  1929. How can record inflation and market collapse be “on track?” Just wait until the Fed continues down the normalization path a little farther and jobs hemorrhage and the economy collapses. There is no possible soft landing.
    1
  1930. Even after Carter’s ruinous presidency was over, the US had total accumulated debt of around a half a trillion. Biden spent 4x that amount his first month in office and wants to spend another 12x that amount before his first year is over. I don’t think the economy can survive another 3 years of this madness.
    1
  1931. How about diplomacy and the west stop funding and escalating the war and sending their best tech and military hardware? We are provoking Putin into a game of chicken that might result in nuclear catastrophe.
    1
  1932.  @joetuktyyuktuk8635  Not appeasement. Continued sanctions but the west escalating this war with their best tech and hardware is playing with fire. Hitler didn’t have nuclear weapons to wipe his adversaries off the map. The west should be exploring diplomatic solutions. If Carter got the Jews and Arabs to have peace talks, it seems there’s a chance for Russian/Ukrainian peace talks that are palatable for both parties. Why risk the end of civilization?
    1
  1933. What entity(ies) other than a central bank money printer has the ability to buy the $3 trillion in mortgages and $6 trillion in US debt off of the Fed’s balance sheet? I guarantee you even if there was they would demand much higher rates. It’s going to be calamitous to get out of this mess.
    1
  1934. Thank God for Peter Schiff. I was educated using mostly Austrian Economics ideas and theories in the 1980s. My old college professors would roll over in their graves if they saw the nonsensical MMT hogwash they are teaching today.
    1
  1935. Inflation is bad now, but if China, Russia and a few other countries decide to stop recognizing the dollar as the global reserve currency, it’s game over for the American way of life. 99% of us will be dirt poor.
    1
  1936. Don’t these idiots realize that energy is fungible and a good chunk of that fungible energy to charge these EVs is fossil fuel based? Just fake virtue signaling at best.
    1
  1937. Between the Holodomor and making 10% of country permanently uninhabitable, hasn’t Russia hurt these poor people enough?
    1
  1938. Hamas told these people NOT to evacuate and even blocked roads. This is 100% on Hamas for putting their civilians in harms way. Shame in MSNBC for trying to insinuate otherwise. Disgusting.
    1
  1939.  @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.
    1
  1940. Banks just don’t fail without serious fraud and malfeasance.
    1
  1941. The only endgame scenario that voters/politician will let happen is hyperinflation. And that will be biblically ugly. Worse than 1920s Germany.
    1
  1942. I wonder how many people truly understand the dangers of a 0% banking reserve requirement? That means instead of a 10:1 leverage in normal 10% reserve times, the banks have essentially UNLIMITED ability to leverage their deposits. For example, 1% reserves means the bank could have 100 times that amount in assets. And this unlimited leverage is why banks are getting exposed in a rate changing environment. This is scary folks. The Fed should have restored or even increased the 10% reserve ratio long ago.
    1
  1943. We need a Reagan-Volcker Act 2.0. But it will never happen since politicians and government officials are gutless.
    1
  1944. Trump Administration: hire the best and brightest. Biden Administration: hire people with the most woke checkboxes. We are seeing the natural result.
    1
  1945. If you listen to the crazy left, they would tell you these shootings are the fault of gun lobbies and cowardly police.
    1
  1946. Yep. Having rates lower than inflation is stimulative to consumption. Have we ever witnessed negative real interest rates for this long?
    1
  1947. What’s disgusting is the Burg Khalifa has to have their sewage hauled away by truck daily.
    1
  1948. The IRS has always been weaponized to bully political enemies.
    1
  1949. Did he use the term “Eve?” What does that mean in the context he used it?
    1
  1950. No doubt there’s terrorists in those caravans of people leaving the city.
    1
  1951.  @busybody1474  Totally agree. My solution would require the homeless to be temporarily housed in inexpensive Quonset Hut/Military barracks with very strict rules but it also would provide all the necessary tools to give these folks a chance to re-enter normal society.
    1
  1952.  @hc507  Agreed. State, Federal and Local laws are constantly changing. Problem is, they seem to be becoming MORE accommodating to homeless, not less. As it is, We’re allowing the inmates to completely rub the asylum. And the are ruining and bankrupting our cities.
    1
  1953.  @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.
    1
  1954.  @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.
    1
  1955. $9 trillion in Fed assets paying 0.5% to 2.5% when inflation is 8.5%. Taxpayers are gonna get hosed once again when the Fed unloads this crap.
    1
  1956. What kind of disgusting God would want to hear utterances of how great he is while those people are actively killing others? Islam is truly a nasty and vile “religion”’
    1
  1957. 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.
    1
  1958.  @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.
    1
  1959. So for those who thought Biden and the Democrats cared about the little guy, just pay attention to who they are bailing out: * wealthy depositors uninsured deposits * loans of college educated * teamsters pensions * state and local pensions Etc etc etc. But no social security, Medicare, or other common folk bailouts.
    1
  1960. If only the US had a strong leader like JFK saying “We are ALL Ukrainians!” Or Reagan saying “Mr. Putin, end this despicable invasion!“
    1
  1961. I don’t listen to anyone who sleeps with Chinese spies. Get this guy off CNBC
    1
  1962. Sounds like April 1945 Berliners getting drunk and partying while the Russians are in the suburbs. May as well go out with a bang.
    1
  1963. Yup. As the saying goes, the cure to low prices is low prices. And the cure to high prices is high prices.
    1
  1964. What does Kamala have for staff? Like 100 or so six figure salary Government lackeys? Fire them all and hire a HS English teacher. Have her start with just nouns, articles and active tense verbs. Roll in the adjectives and adverbs when she gets up to speed. Maybe by the end of Biden’s term she can do prepositions and conjunctions. If things are going well, maybe attempt conditional and plu-perfect tenses.
    1
  1965. It’s not the banks that fueled and financed this bubble - it was the Fed. The Fed bought $3 trillion in money losing mortgages. And guess who is going to make the Fed whole? You guessed it, the taxpayers once again.
    1
  1966. The sheeple thought those stimulus checks and other “stimulus” goodies were free. Unless you died right after you cashed them, you are going to pay 10x what you received in inflation on everything you buy.
    1
  1967. 1. Shut down or limit production 2. Pay businesses and people trillions to do nothing 3. Print trillions out of thin air 4. Have the government spend trillions more than they take in year after year Is anybody surprised? And it’s gonna get a lot worse. No way in hell did the Fed not know this would be the end result.
    1
  1968. Once again Trump was right to ban these people from immigration to this country.
    1
  1969. We’ve been in a recession since 1/1/22. Q2 will be contractionary.
    1
  1970.  @pukes6273  Any reason to think trade will be better in Q2? The thing is tho, all that matters is real “inflation adjusted” GDP.
    1
  1971.  @pukes6273  No, that’s not why I think we’re in a recession. Q2 will show demand destruction due inflation destroying disposable income.
    1
  1972. To all you US people quitting or not getting jobs, hoping to get better pay and working conditions: here comes your replacements.
    1
  1973. January 6th, impeachments, raid on Mar a lago were never about the headline. They were all just vehicles to find a smoking gun to take down Trump. This is all far, far more disgusting than Watergate.
    1
  1974. The “good news” is when this debt Ponzi Scheme finally pops, the US will take most of the world down with it.
    1
  1975. Batter powered crap is just green virtue signaling conspicuous consumption for the liberal elites.
    1
  1976. Unbelievable the way the left constantly throws our police and border patrol under the bus. Disgusting.
    1
  1977. Congress owes social security and Medicare over $100 trillion. You would think that instead of trying to expand these programs with even more unfunded promises, they would try to shore up what they have already promised.
    1
  1978. The woman mostly responsible for trillions in money printing QE somehow claims inflation is transitory. Mind boggling stupid.
    1
  1979.  @panoscorfu1974  Just shows you how much the Russians have their heads in the sand. When so many foreigners are willing to sacrifice their lives to help Ukraine, you would think the Russians would question why the world view of public opinion was so negative. Apparently no one is buying the “de-nazify” claim?
    1
  1980.  @mirkovujovic476  Geneva convention war crimes against captives won’t exact help world views of Russian aggression.
    1
  1981. It will be 2% by the end of summer. More like 3% by end of year.
    1
  1982. Why would people pay MORE money for less convenience and utility?
    1
  1983. For some, buying a new vehicle creates a euphoria unmatched by anything else in life. If he’s got the dough, go for it.
    1
  1984. This was all predicted by Scottish professor Alexander Tytler in 1790 who said Democracies ALWAYS fail because they eventually devolve into voting for candidates who promise the most “free” stuff. It’s amazing how many people don’t see this as a huge problem.
    1
  1985.  @threeftr3349  So true. What the narcissistic green “elites” can never comprehend is energy is fungible and the lowest cost source will always be used first, even if it’s coal plants to provide electricity for their silly EVs.
    1
  1986.  @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.
    1
  1987.  @yayger825  Like most other I cave to buying a new iPhone every year or two. But I always wonder why. Haha.
    1
  1988.  @shdmd2118  Yes
    1
  1989.  @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.
    1
  1990.  @adventuresinthebay8487  Same reason. Just to get attention with the latest and greatest, even if the utility isn’t enhanced much.
    1
  1991. 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
  1992.  @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…
    1
  1993. Pivot? All the Fed has done is turn the speed on the money printer from 10 to 9.
    1
  1994. In the end, the ustase got what wanted.
    1
  1995. $13 for a corn dog there…
    1
  1996. Weird. I live in Salem and won’t go near that ghetto graffiti trash city that is portland anymore. Unbelievable anybody would choose to live in that filthy lawless place with homeless tents and garbage strewn everywhere.
    1
  1997. I see a lot of fake guns in those pics…
    1
  1998.  @ozzyoz1495  Please elaborate on why you think QE, and 0% rates were NOT massive myopic mistake that will be extremely painful to unwind. The Fed has only been tightening a few months and things will start breaking soon.
    1
  1999. When the debt Ponzi scheme collapses, the whole country will be lucky to look like Gary.
    1
  2000. Older processing dude in black polo has a neck tattoo. Seems appropriate.
    1
  2001. Biden and Kackles suck ass for their disastrous leadership.
    1
  2002. GS didn’t invest their own money, they generated the fees. More reason for interest rates to rise significantly to well above the rate of inflation to cool this crazy market.
    1
  2003. Was it over when the Germans bombed Pearl Harbor?
    1
  2004. 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.
    1
  2005. The only chance of corralling inflation IS a demand killing recession/depression.
    1
  2006. $2 trillion annual deficits are the equivalent of 20 million jobs that would go away without it. It’s definitely a false economy fueled by deficits and debt.
    1
  2007. The USA has AVERAGED $2 trillion annual deficits since 2008.
    1
  2008. I love Laffer but I think Sean’s right. Only way to stop inflation is to crush the economy and employment.
    1
  2009. This might sound weird but Stalin and Pol Pot would scare me a lot more than Hitler to hang out with.
    1
  2010. People should realize all this spending has to come from somewhere. For the last 15 years or so it has mostly come from robbing from the future, but that has an ugly recooking point.
    1
  2011.  @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.
    1
  2012. They don’t want to secure the border. They want to retrofit all those fake votes that got Biden elected in the first place.
    1
  2013. Ukraine was invaded by 150,000 Russian soldiers. This happens on the US southern border each and every month.
    1
  2014. With such artificially low interest rates, there are zombie companies waiting to be unveiled everywhere. Evergrande is just the tip of the iceberg.
    1
  2015. Agree with his assessment. My thoughts exactly. Glad to have her on the good guys’ team.
    1
  2016. Can’t stand the bloke‘s agenda, politics, and administration but videos like this make me sad.
    1
  2017. Facebook has turned into woke censor nazi madness. Me and many others have canceled our accounts forever.
    1
  2018. Sadly, precious few of the current politicians even understand basic economics.
    1
  2019. And it works till the number of work tardies gets you fired.
    1
  2020. So sick of this idiot’s lies. Brandon’s whole campaign and actions are based on punishing and driving up the cost fossil fuels. Worse, all his deficit spending packages are making EVERYTHING more expensive.
    1
  2021. When Jesus was alive maybe?
    1
  2022. Sadly, schools don’t teach sound fundamental economics anymore.
    1
  2023. Simple to solved. Mandatory shelters or treatment centers with strict rules and goals.
    1
  2024. We can only hope. But at the rate Biden is flooding the USA with illegals who knows.
    1
  2025. And now, thanks to Obama, Biden and Kamala, those skinnies are now here in America.
    1
  2026. The country is beyond broke. I hope DOGE analyzes every nickel before it goes to CA to bail out their incompetence.
    1
  2027. GM spends $35B for EV tech. China then steals the tech for free and mass produces it.
    1
  2028. That pizza looked terrible. Far worse than even Costco’s.
    1
  2029. 100% chance of recession by 2023 and we’re likely already in it - especially if you look at real GDP.
    1
  2030. Hire based upon woke check boxes and this is the natural result.
    1
  2031. Seems a Senator’s life was threatened. Where was the DC cop that murdered Ashli Babbitt to take out a few of these lunatics?
    1
  2032. Shellyne gets the Sam Brinton bad woke hire award for May
    1
  2033. Prison or be turned into a pink stew in a tank or armored vehicle? Prison seems a wise choice.
    1
  2034. 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.
    1
  2035. Here’s how a more slick lying Dems and press secretary would have answered: “We’re gonna use higher corporate tax hike proceeds to send to low and middle class Americans to offset inflation.”
    1
  2036. Seems to be all correlated to democrats and blacks.
    1
  2037. Love Nixon. Wish I was older when he was in power and influence.
    1
  2038. The bigotry and attacks against police in the wake of GF were despicable.
    1
  2039. “It’s your fault! No, it’s your fault! Hey, maybe we all can blame Putin for our incompetence!”
    1
  2040. The US gov’t isn’t even trying to balance the budget and won’t anytime in the future. If anything, they want to deficit spend even more. We will hit a brick wall soon.
    1
  2041. As a general rule if the politician wears a bow tie, they are lying scum.
    1
  2042. I’ve met a lot of sleazy used car dealers in my life. Newscum is the worst of all of them.
    1
  2043. Hogwash
    1
  2044. It’s equally racist and sexist to hire based solely on race and gender than to fire based solely on race and gender.
    1
  2045.  @nickv3085  Watch.
    1
  2046.  @MrSupernova111  Wrong. The typical mortgage stays in force about 7-10 years so whatever the inflation expectations are over that period affects the mortgage interest rates. Without Fed intervention and manipulation, banks expect a return greater than inflation AND FOR 1) profit and 2) be compensated for the risk they took and 3) the expenses associated with issuing the loan. The Fed unloading their $3 trillion in mortgage and $6 trillion in US debt is gonna create a mess for the private sector to absorb.
    1
  2047.  @MrSupernova111  Sigh. Do you even comprehend that the vast majority of 30 year home loans don’t last 30 years? On average, they are paid off in 7-10 years either through selling or refinancing. That’s the average and the time banks base the expected inflation period in determining mortgage interest rates. Sure, some people might keep their loan in force longer or shorter but that’s the average. Why do you think 30 year bonds pay LESS than 10 years bonds? But home loans roughly follow the path of 10 year yields.
    1
  2048.  @MrSupernova111  But also keep in mind the Fed turned the mortgage market on its head by gobbling up $3 trillion in mortgages that they are now unloading. This made mortgage rates lower than they would otherwise be since the Fed was taking on both the risk and creating the liquidity - which is all going away!!!
    1
  2049.  @markw496  Gonna be difficult with a Republican house
    1
  2050. I hate to be so cynical but these tragedies tend to turn into taxpayer funded boondoggles to expand government and waste WAY more money and resources than the disaster really requires. 9/11, Katrina, GFC, Covid and now Maui. Government never lets a tragedy go to waste.
    1
  2051.  @darksauske75  Haha. It was a joke. Kind of.
    1
  2052. Europe doesn’t have a very good track record with Jews.
    1
  2053. How much of a decline represents a crash to you?
    1
  2054. I find the 100 million US babies murdered since Roe far worse than the holocaust.
    1
  2055. As prices continue to fall at some point panic will set in.
    1
  2056. Out of touch idiots. Highest inflation in 40+ years. Shortages everywhere. Debt and deficits at record high. Record crime. Just wait until the Fed raises rates a bunch more and unloads its $9 trillion balance sheet. Oh but the economy is in great shape.
    1
  2057. So here’s a scary thought. Once prices start to fall, history has shown it takes 5-10 years before they finally bottom out. So armed with that knowledge, unless you are buying with cash who else would dare buy once the sell off begins?
    1
  2058.  @ReventureConsulting  I’m not a fan of the Fed but I think their policies should be limited to helping smooth out panic selling only. For example, QE mortgage purchasing and near zero interest rates should have stopped in the summer 2020 at the latest when home prices started to rise again. The Fed having the money printer on full speed this long is inappropriate and creates painful bubbles.
    1
  2059. I believe the 20%+. I constantly get “so and so” is now following you and when I look at the profile it’s clear that most are bots.
    1
  2060. Back on its feet? The country has tacked on $1,000,000,000,000 in new debt in just the last 3 months. Without the debt Ponzi scheme, the economy would collapse.
    1
  2061. Good thing these anti-Israel defacers weren’t MAGAs or they would be in jail for several years.
    1
  2062. Deporting 20 million illegals should help bring home prices down.
    1
  2063.  @sabinereynaudsf  You seem to forget most of that $7.8 trillion was bipartisan Covid spending where the Dems wanted to spend even more!
    1
  2064. Oil is one of the most competitive things we buy.
    1
  2065. Elect a weak an inept leader of the free world and bullies are emboldened. Luckily, Ukraine had a strong leader and strong and resolute people.
    1
  2066. Fed getting worried? Their money printing created inflation, housing and equity bubbles. They painted themselves into a corner. No good choices left and quickly running out of road to kick the can down.
    1
  2067. If you raise prices, you go out of business. If you don’t raise prices and start losing money, you go out of business.
    1
  2068. “My body my choice” bull$hit! There’s a separate living being with its own unique DNA borrowing your uterus for a few months.
    1
  2069. Great video. Hyperinflation is our future. It could start tomorrow or in the few years but it’s gonna happen with 100% certainly.
    1
  2070. Don’t blame the greedy corporations and investors that gobbled up houses. They were just trying to find better investment yield than the negative real interest rates. 99% of the blame is on the Fed and government overreach.
    1
  2071. Democrats haven’t been this triggered since they kill£d Lincoln for freeing their sl^ves!
    1
  2072. 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.
    1
  2073. 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.
    1
  2074. Why is she wearing Fletch novelty teeth? Could the Biden administration have an uglier bunch of worthless political hacks to run his administration?
    1
  2075. I just can’t see this debt Ponzi scheme going on much longer until something major breaks. But then again, I thought something would break before we got to $35T too.
    1
  2076. Stock market is only increasing nominally due to the money printing.
    1
  2077. Beautiful Dan! Weather looks great too! All those 1099s create an easy excuse for a full blown audit of your return. You miss claiming just one on your tax return and your return won’t match the documents that were submitted to the IRS. That’s just one reason why Biden wants those 70,000 additional IRS agents.
    1
  2078. I love Scotty Kilmer! Just think how much more EVs would be if ICE manufacturers didn’t have to send them billions. So the poorer people buying ICE vehicles are SUBSIDIZING wealthy EV buyers. And now they want blue collar workers to pay of higher paid white collar workers by paying of their college expenses. Disgusting.
    1
  2079.  @mikedar8484  I agree. Trump’s all of the above domestic energy policies combined with low regulation, low taxes, and low inflation were the right prescription. Government spending needed to be slashed, however. And even more so under idiot Brandon.
    1
  2080.  @Sinoops  Maybe not but for argument’s sake let’s assume prices drop 30%. Wouldn’t you be better off cashing out, waiting for the drop, and then rebuying at 30% off? Wouldn’t you rather have $350k debt at 7% rather than $500k debt at 3%?
    1
  2081.  @stephenriggs8177  Nice thought but that’s just not how people operate. When home price declines start accelerating, some people will sell to try to save their remaining equity. And for many of those underwater, they will just choose to walk from the home.
    1
  2082.  @MarketFund2k  Not homeless. But both scenarios are applicable. Some will try to save their equity before it evaporates (and rent). Others that are upside down may just decide to walk (and rent). Gonna be ugly.
    1
  2083.  @MarketFund2k  People are fickle. They think their equity is locked in. And they also don’t like paying on something they are upside down on. Not everyone. Not even the majority. But enough to create serious downward pressure on home prices when prices inevitably keep falling.
    1
  2084. Democrats haven’t been this triggered since they killed Lincoln for freeing their slaves.
    1
  2085. Foreclosure and eviction moratoriums combined with Americans delaying putting their place on the market due to Covid certainty impacted the low 8% moving rate. I wonder if it will spike next year as moratoriums end and Covid abates?
    1
  2086. Highest inflation in 40 years and yet the Fed is still printing over $100 billion/month. QE is only a construct of the last dozen years and therefore obviously wasn’t even used to create the 1970s inflation spike. A world of hurt is coming our way.
    1
  2087. 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.
    1
  2088. Is it any surprise the same people who chose criminals over cops and demanded cops be defunded are the same people choosing the terrorists?
    1
  2089.  @antoniograncino3506  So the “prudent” thing is to send women into harm’s way while the leader of the free world hides in his basement? No wonder Putin started this war.
    1
  2090. If the government can pay off college graduates student loans they can pay off blue collar credit card balances. Only fair.
    1
  2091. “Remember Snake Island!” should be the battle cry for Ukrainian forces heretofore!
    1
  2092. Shut down productivity. Shut down services. Print trillions. Spend trillions more than you tax. No one with half a brain should be surprised by any of this. And it’s gonna get a lot worse.
    1
  2093. Conscription is never easy. But in an era of immediate YouTube videos of your countrymen getting killed, it’s even more difficult.
    1
  2094. President Trump called you a fake to your face. And obviously he was right.
    1
  2095. Depressing. Cops are our most precious heroes.
    1
  2096. Powell is such a lying scumbag. Trying to act surprised that 10 year yields are only 1.75% well knowing the rate is artificially low due to his organization buying trillions of them. I wish Kennedy would have pointed this out.
    1
  2097. Woke is just this generation’s version of faux victimization and blaming and demonizing others for problems that are 90% of your own making (defunding and blaming police is just one recent example, or Biden trying to demonize “ultra MAGA” people). Humans are motivated by hate more than love. That’s a fatal flaw in human’s DNA so if woke is indeed on its way out it will just get repackaged in a slightly different form with a different silly euphemism.
    1
  2098. I seem to recall making the losers pay dearly and rubbing their noses in it tends to lead to negative consequences.
    1
  2099. I liked Aerosmith’s 80s power ballads lol.
    1
  2100. I always vote Republican for the simple reason that the people can spend their wages better than the government.
    1
  2101. $32 trillion debt, $150 trillion short of paying for current promised benefits, $9 trillion Fed balance sheet (QE). War in Europe. Bank runs. Decades high inflation.
    1
  2102. She’s such a liar. Taxpayers across the board benefited from Trump’s tax cuts. And the child tax credit was doubled. The only people who paid more were the filthy rich who got their SALT capped.
    1
  2103. They’ve been bums rushing our national border for years with no consequences.
    1
  2104. No way the Fed follows through. Too much can go wrong. First sigh of trouble, the Fed reverses course and doubles QE. They are clearly willing to sacrifice inflation and the value of the dollar.
    1
  2105. It’s painful to listen to Janet Yellen speak. She needs to be in a nursing home.
    1
  2106. Meh. Greed, for lack of a better word, is good.
    1
  2107. Not sure what time you took the pics of the gates at Disney but if it wasn’t between 8 and 9 am it won’t be very busy. For the price they want for tickets, people want a full day. Plus, you can’t “park hop” until after 1 pm so folks are locked into the park they first went to until then.
    1
  2108. The limitless boundaries of space are so fascinating and humbling.
    1
  2109. Most revolutions occurred throughout history due to crushing debt and corruption. The US is getting close.
    1
  2110. Then why is anyone under 50 paying into it? Be wary, that’s a pretty big voting block. They may vote to end the program which means anyone currently getting it will then get nothing (there is no fund balance to draw from).
    1
  2111.  @christophergill871  SS was only started right before WW2 when the country actually made things. For the last 50 years or so the country has been held together by debt. You might get a monthly “check” when you retire but you’ll be lucky if it buys a loaf of bread. And yes hell will break out but when there’s no money to pay you except a money printer, don’t expect it to do any good. Voters voted for this instead of fiscal discipline.
    1
  2112. I 100% agreed with Madoff when he accurately pointed out that his Ponzi scheme was peanuts compared to the one the US government is running. Using a money printer to buy your own debt? You can’t get much more fraudulent and corrupt than that.
    1
  2113. How do regular schmucks like me get to see that video? Not that I need any more data to hate on Muslims but I want to see the film nonetheless.
    1
  2114. Unless the Fed makes real rates positive, the Fed is stoking infusion, not curbing it. The QT dumping of $9 trillion of assets is gonna get ugly quick.
    1
  2115. Meh. Brandon and his lackeys lie everyday.
    1
  2116. Wait so plagues cause inflation? Will somebody tell the Fed?
    1
  2117. Where the hell are all the illegals and Afghans going to be housed?
    1
  2118. So you are telling us the Fed deliberately lies for “PR reasons” and they will continue to sacrifice the dollar because QT and restoring interest rates to historical norms will crush the housing and stock markets? Not to mention making the government insolvent.
    1
  2119. Humans have a history of making irrational bubbles. This current housing bubble is just the latest rendition.
    1
  2120. Swamy or Noem are both great VP choices. Although the left will try to crucify Noem where Swamy would just laugh it off and have fun with it.
    1
  2121. @ Look at the AVEAGE debt added per year since 2008. It’s close to $2 trillion a year. From $10 trillion to $36 trillion.
    1
  2122. I don’t understand why our trading partners are still accepting dollars in trade when we are just printing trillions of them out of thin air. I think eventually they wise up and demand payment in something else besides dollars.
    1
  2123. Seems simple. If you are born XX, you compete and are officially a woman. If you are born XY, you compete and are officially a man. If the rare case you are born as a XXY, you compete based on your birth genitalia. Unofficially, you can play dress up and butcher your genitalia all you want.
    1
  2124. That’s his point and why it’s a Ponzi scheme!
    1
  2125.  @robertblue3795  No. QE is a relatively new phenomenon and pushes the Ponzi scheme to extreme levels. And ALL Ponzi Schemes end ugly
    1
  2126.  @robertblue3795  And that will be our demise.
    1
  2127. 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.
    1
  2128. 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.
    1
  2129. How is letting in 200,000 illegals a month - the population of a good size US city - help with the housing crisis in America?
    1
  2130. In real terms, it makes absolutely no sense why equities and housing are so far above pre-Covid levels. Earnings and incomes are only up because central banks and governments robbed trillions from the future. And now governments, corporations and individuals and burdened with record debt. Not a good sign looking forward.
    1
  2131. More likely both. She’s dumb and lazy and slept her way to her position.
    1
  2132. There needs to be a separation of the gay mafia and state/corps.
    1
  2133. If Biden cancels student loan debt why would any future student/parent not take out loans to finance the education, even if they have the cash college finding available? They will have established that student loans are always “free.” No one will pay again.
    1
  2134. There’s always deadbeats that don’t pay their rent but you can’t blame Covid. Anybody who lost a job got a huge raise taking unemployment. Tack on a few stimulus checks and other goodies and the vast majority were better off and even MORE able to pay their rent.
    1
  2135. Just like the cops in Uvalde. This is what happens in a woke emasculated society where people only look out for themselves.
    1
  2136. Portland is getting what they voted for
    1
  2137.  @robertc801  That’s an excellent point and I agree. He seemed solid until he pivoted to bitcoin.
    1
  2138. When are we going to have a conversation about why college is a waste time of money?
    1
  2139. 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.
    1
  2140. Dude sounds like a deadbeat scumbag. Landlord just wants to reoccupy their home so they are just using a rent increase to get tenant to move. Why can’t the landlord just refuse to extend lease? I bet the loser trashes the place before he vacates.
    1
  2141. I’m not in sure war can be waged considering how hamstrung the Israeli military is.
    1
  2142. At least those people are gonna have an incomeZ
    1
  2143.  @generalacehorn4059  Um, record jobs and wage growth DID happen because of the corporate tax cuts. Only problem is Government forced inflation out of whack by printing and spending trillions.
    1
  2144. Trade growth? We’re not gonna have adequate food in a few months.
    1
  2145.  @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.
    1
  2146. This video conjures up that famous Churchill quote.
    1
  2147. 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.
    1
  2148.  @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
  2149.  @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.
    1
  2150. Many more people are poor than rich. Inflation hurts the poor. If the Fed chooses to save the rich by not stopping inflation there is gonna be civil unrest and revolution.
    1
  2151. Her silence and dismissal after Israeli baby decapitation at the hands of Palestinian terrorists says it all. She only roots for one team.
    1
  2152. I rooted for Ukraine the first 6 months or so. Not anymore. Their constant begging the west for more and more money and their best tech and equipment is going to cause a nuclear holocaust. Not to mention the tens of billions of US taxpayer dollars wasted could house all the homeless.
    1
  2153. Well of course the Fed is going to poo poo $30 trillion debt because it was their policies and actions that allowed us to leverage this much debt.
    1
  2154. @Senior Housing Analyst No. Not sure if there is data available to reflect that but no doubt it’s coming.
    1
  2155. Scumbags on the left like Biden and others are so quick to trash America’s heroes en masse. First cops, now border agents.
    1
  2156. Israel won’t stop until Hamas is eradicated.
    1
  2157. Here’s the reason why this bubble is so much worse than 2008: inflation !
    1
  2158. 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
  2159.  @ckellyllc  That’s not true. Many times banks will reduce your credit limit and or close your account if your balances get too high. Also, your credit score is lowered the closer you get to your limits of each card. Remember also the banks know consumers have bankruptcy as an option which the federal government will do everything possible to avoid.
    1
  2160. @TRUTH _ The Fed CAN START buying treasuries? Um, they are buying $80 billion a month. And $40 billion in mortgages. They have a $8 trillion and rising balance sheet. I give us a few years max.
    1
  2161. 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
  2162. I was lucky in the 1970s. My dad owned two Texaco stations and us kids had all the gas we needed.
    1
  2163. Ok let’s repeat all the horrible mistakes of the 1970s. The only thing worse than high prices is not being able to get what you need at any price. The Brandon Administration’s lack of understanding of basic economics is unconscionable.
    1
  2164. As an American, I really don’t blame them. The way the US whores out the dollar and can’t live within its means is reckless and stupid. Other countries are likely done subsidizing the US lifestyle.
    1
  2165. What’s more immoral and backwards than bailouts for college educated deadbeats on the backs of blue collar workers or those that paid their debts?
    1
  2166. Sad that so many people are just as naive/stupid as 2006
    1
  2167.  @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…
    1
  2168. Wow, Peppermint Patty using the race card. Shocking.
    1
  2169. How much credibility would the Fed have left if it pivoted before inflation hits 2%? They’ve said all along they won’t stop with rate hikes and QT until then.
    1
  2170.  @joekiwi200  Precious little of our deficit spending is used to increase the permanent GDP and productivity of our country. Most of it is just one and done spending.
    1
  2171. Meanwhile, one conservative speaker after another are not allowed to speak at these universities.
    1
  2172. In Oregon, public schools get record funding but our idiot governor now eliminated core competencies like reading and math to graduate. Idiot uneducated lemmings. No wonder portland is covered in homeless and graffiti. Liberal utopia.
    1
  2173. Tuna Kotex stinks.
    1
  2174. More jobs than ever yet we have a dozen homeless people on the beach (and tens of thousands in CA). We need mandatory shelters with strict rules and life advancement goals.
    1
  2175. The original feminists would have rallied around Riley and she would be a symbol of women being oppressed by men. But now these people’s wokeness have boxed them in into a corner. Their “progressiveness” has made a mockery of women and women’s sports.
    1
  2176. Why is the US wasting all this money to defend Ukraine’s borders from invaders when she can’t defend her own?
    1
  2177. BLM did worse than nothing for the black community. By blaming cops for their criminality, many jurisdictions cut police funding which had led to huge spikes in black on black murders.
    1
  2178.  @socalfriend6985  Flipping off a bad driver is always ill-advised but to then to deliberately do a risky aggressive retaliatory response would be very provocative. Let’s hope this was not the case.
    1
  2179. Let’s be honest. Humans are only indigenous to one place: Africa. Everywhere else on earth where humans exist, they are immigrants.
    1
  2180.  @silencemeviolateme6076  No, they’ve had it as bad or worse than Russians. But for a lot of history they’ve been Russia’s brethren. They just don’t number as high as Russians. Too much suffering for the people of the steppe.
    1
  2181. At least stocks and bonds provide regular cash flow. Bitcoin earns nothing.
    1
  2182. Andrew Sorkin is such a d-bag.
    1
  2183. Tucker is so awesome calling out the Brandon regime’s bigoted hypocrisy. Woke check box hiring. Yeah that always turns out well. It’s gonna get a lot worse.
    1
  2184.  @talisikid1618  There’s no good reason the US couldn’t still be competitive making things here. Hell just think of the huge advantage we have on transportation costs making and selling things domestically. We had a great run for a few decades after WW2 but once the world caught up we got greedy and lazy and are now paying the price.
    1
  2185. When lifetime hardcore democrats like Musk and Bezos throw in the towel on Biden Administration lies, you know they are in deep trouble.
    1
  2186. Home prices will be 50-70% lower in 2 years
    1
  2187. Apple has a good scam going getting you pay $1000 every year or two to pretty much buy the same thing again (all in one camera, phone, text, apps, etc.). But there hasn’t been a recession since the smart phone was invented so maybe people will wait much longer to “upgrade.”
    1
  2188. Now let’s get Kyle a few billion from these corrupt scum bags.
    1
  2189.  @righteousone1  And it obviously backfired on them, their stock is down 35% in a week and they are poised to lose billions. I highly doubt this was intentional on their behalf. They were just riding the wave till it collapsed.
    1
  2190. There is only one religion in world history that cuts off innocents heads while cheering that their God is Great.
    1
  2191. The Biden Administration is filled with blacks who advanced their careers playing the race card and gays pushing their agenda. Jean-Pierre is both. This is gonna be a quick train wreck. Just look at the clip of her trying to explain Biden’s claim that higher corporate taxes will reduce inflation.
    1
  2192. No wonder “college” students can’t pay their loans.
    1
  2193. Intermittent reinforcement is the key and it drives humans (and other animals) crazy. It’s everywhere.
    1
  2194. I wish we could see the transcript of Biden’s conversation with Putin a few days before the invasion. I’m sure it was weak and pathetic. Perhaps Brandon mustered up the strength to utter “c’mon man! Don’t be a lying two-faced pony soldier!”
    1
  2195. 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.
    1
  2196. 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.
    1
  2197. I was under the impression Chicago and the state of Illinois were already broke?
    1
  2198. Some did, but when inflation outpaces wage growth, some are needing to used credit just for food and rent.
    1
  2199. Biden is on record as saying the USA is a better place the less whites there are.
    1
  2200. We never got out of the Great Recession. The US bought themselves a little time by AVERAGING $2 trillion annual budget deficits since 2008. That’s what has kicked the can and kept the country on life support. When it pops, game over.
    1
  2201. 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.
    1
  2202. There’s 100% chance of Treasury insolvency. Although it won’t happen via default, it will happen via hyperinflation.
    1
  2203. 1980s Austrian economics is the only real economics that matters.
    1
  2204.  @ReventureConsulting  Yep. And now that the market knows we’re officially in a recession, the 10 year yield has dropped almost 50 bps in just a few days - which will be reflected in mortgage rates. A hurricane is coming.
    1
  2205.  @gomerpyle7721  Not really. If the Fed was serious about fighting inflation they would force real rates to be a positive number just like Paul Volcker did. Getting loans at 5% with inflation at 8.6% is abnormal and distorts asset prices.
    1
  2206.  @s99614  That doesn’t fit with the balance sheet reduction narrative.
    1
  2207. I wonder if Ramsey calls diamonds just a rock too.
    1
  2208. Any reasonable attempt to reduce the deficit will crash the economy.
    1
  2209. There’s a big difference between baby making prime and intellectual/leadership prime. Apparently Lemon doesn’t understand this distinction and only sees women as baby makers.
    1
  2210. Little Portland, Oregon is averaging more than 100 shootings a month and setting all time records! Go Portland! Mostly peaceful protests. Let’s go Brandon!
    1
  2211. We already can’t. We issue new debt to service the old debt and the primary buyer of our debt at this point is the Fed using the money printer. Default or hyperinflation are our only 2 choices at this point.
    1
  2212. It sure looks like the attack in Kiev was just a ruse so the Russians could secure the Donbas and the land bridge to the Crimea.
    1
  2213. I hate the lines.
    1
  2214. Essentially since the GFC, world economies have been largely buoyed be massive new public debt. Obviously that is not sustainable and has to end. When it does, world economies implode.
    1
  2215. I love and appreciate President Trump more and more with each passing day.
    1
  2216. Interesting. If the Turks didn’t get their asses handed to them in WW1, this whole mess wouldn’t have happened. Oh well, losing wars has consequences.
    1
  2217. Munger is brilliant but we’re totally fucked either way. Higher and higher inflation or a crashed economy and collapsed asset prices. It all ends the same.
    1
  2218. If your business is based upon discretionary monthly fees, be wary. Inflation is forcing some tough choices.
    1
  2219. It’s a sad state of the world today when one of the few honest, visionary, quality, data driven financial experts like Nick calls it quits. We’re all going to need his honesty and expertise to get through what is coming our way.
    1
  2220. Well duh. When real interest rates are NEGATIVE 7% they are still highly accommodative. We need Fed rates around 10%.
    1
  2221. At some unknown level of debt, the credit markets will collapse. No one will buy US debt at any interest rate. We’re getting close. And having woke appointments like this OMB idiot will just make it happen faster.
    1
  2222. For now anyway because bitcoin is valued in dollars. Makes you wonder what will fail first, the dollar or crypto? My bet is that crypto will die first. As the saying goes, don’t fight the central banks because you will lose.
    1
  2223. Gotta love how the Russians just abandon their vehicles and run in the opposite direction rather than engage. Pretty telling of their desire to fight this nonsensical war.
    1
  2224. You’re right about the Fed. They’ve printed $8 trillion since the GFC. And our congress has put $20 trillion on the US credit card since the GFC. All unsustainable and will lead to our collapse.
    1
  2225. I quit drinking about a week ago and I just had a Clausthaler last night! It was delicious! Didn’t miss the alcohol.
    1
  2226. 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
  2227. Maybe the French and British map makers were just early 20th century progressives championing diversity.
    1
  2228. DEI woke hire
    1
  2229. Defense should be the ONLY thing in the Federal budget. Everything else is waste.
    1
  2230. That’s funny. Nobody I know will ever consider buying an EV no matter how cheap they get.
    1
  2231.  @Dank_Nuggetz  Exactly. Or there will be a better tech altogether like hydrogen or as yet to be revealed alternative.
    1
  2232. Democrats claim to be the party of science, yet they ignore the clear and proven science of human life.
    1
  2233. For God’s sake, Biden needs to quit
    1
  2234. I think Twitter is going crazy trying to purge the bots as we speak. I just checked the latest “so and so is now following you” from a couple minutes ago and the account has already been blocked.
    1
  2235. Sadly, I am numb to hearing about impulsive black on black violence from the night before as it is a daily occurrence in large US cities. But the Oscars?
    1
  2236. Just turning down the speed on the money printer will only continue to make inflation worse! We need a Reagan-Volcker 2.0 to crush inflation.
    1
  2237. I’m 100% sure Joey knows this. I suspect his “in Israel” was just in reference to that map since Gaza was entirely surrounded by Israeli borders.
    1
  2238. Zero federal funds for sanctuary cities.
    1
  2239. And don’t forget about the Czechoslovakian Interior Decorators.
    1
  2240.  @spitfiremk9c  The Fed’s dual mandate are jobs and inflation. Asset prices don’t matter when inflation is this high. The only way home prices don’t crash is if inflation goes back to 2% in the next few months, allowing the Fed to back off rate hikes and tightening. I see little chance of that.
    1
  2241. Will a pro choice person explain to me how terminating a child in the womb is any different or any more humane than terminating a child in a crib?
    1
  2242. Since when did Biden ever endorse and execute any of Trump’s policies? He has proven to always do the exact opposite! This botched, humiliating pullout from Afghanistan is 100% on the Biden/Harris administration. This is much worse than Carter’s botched rescue of the American hostages in Iran.
    1
  2243. How did they get the woman out of the slide at the bottom of the tube hanging off the side of the cruise ship?
    1
  2244. The preponderance of variables suggest a significant decline in home prices is on the horizon. If, however, the Fed abandons it’s inflation fight and dollar support and goes back to 0% and QE, prices could continue to rise (in the short term anyway).
    1
  2245. Here’s what also worries me: The US is consistency spending $2 trillion plus more than it takes in. Not only is this unsustainable but $2 trillion is effectively “buying” 20 million $100,000/year jobs that would not exist otherwise without that massive debt. If the federal government ever has to balance its budget, game over. Ugly times coming.
    1
  2246. What does “rolled them up” mean?
    1
  2247. Somebody should have asked the black guy about BLM donations going to buy the founder a mansion instead of helping black communities.
    1
  2248.  @id10t98  Exactly! So what model is better for employees?
    1
  2249.  @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
  2250.  @Zack-vi7is  That’s only because most union workers are public sector monopolies.
    1
  2251.  @bgates1128  How do unions make companies/businesses more productive to justify higher wages and benefits?
    1
  2252. The Fed has $9 trillion on their books. $3 trillion in mortgages and $6 trillion in US debt. Who is capable of buying this toxic garbage? And there are certainly very few buyers and the record low rates. (negative after inflation).
    1
  2253. More like 33% of homeowners with low rates WON’T BE ABLE to sell! Nobody can afford to buy their house without them drastically cutting their prices.
    1
  2254. The Fed won’t get very far before things start to go haywire. Nobody has $9 trillion to buy this negative real return garbage off the Fed’s books.
    1
  2255.  @marcocarlson1693  Is that why crypto is going nuts?
    1
  2256. If the Fed monetized the debt by buying saddling their books with another $33T, hyperinflation would ensue. There is no free lunch.
    1
  2257. The ultraviolence and starvation not gonna be fun.
    1
  2258. There’s an old joke about the pro-union guy looking to spend his money at whorehouse. He walks into the first whorehouse and a line of beautiful young women line up. He asks “is this a union shop?” The madam says “no, sorry.” So he walks into the next whorehouse and asks the same question: “is this a union shop?” The madam says “yes it is.” The guy says “oh great give me that young beautiful blonde right there.” The madam says “no, you have to take the old heavy set woman with no feet because she has the most seniority.” AOC selling her Tesla for a “union shop” EV conjures up that joke.
    1
  2259. I agree with except the US already doesn’t by service it debt. Most of the debt accumulated in the last few years was just purchased with the Fed money printer. And before that, the US would just service it’s debt with even more new debt. It’s the biggest Ponzi scheme the world has ever seen.
    1
  2260.  @brucesheehe6305  Agreed. And Medicare is probably third. SS and Medicare have $125 trillion in unfunded liabilities.
    1
  2261.  @joedent3323  It’s the same reason you don’t see many fat old people.
    1
  2262. 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
  2263. With the exception of Japan, QE is a post GFC construct. Central Bank officials readily admitted they didn’t know what the end result of QE would be. How can using a money printer to buy $10 trillion of US debt and mortgages ever end well? Once that massive straw man buyer goes away, bubbles pop and rates skyrocket.
    1
  2264.  @blintzkreig1638  How so? Those multi trillion dollar deficits are responsible for millions of additional jobs (in the short run anyway, since we’re just robbing from the future).
    1
  2265. The only way real estate prices survive is if the Fed abandons their inflation fight. But that will even make things worse because the dollar will be completely worthless much quicker.
    1
  2266.  clotshots9072  Not to mention the Fed acting as a straw man buyer of $9 trillion in mortgages and US debt.
    1
  2267. Woke identity politics. Yellen is a hack of the flawed democrats ideologies.
    1
  2268. I think it’s even worse than advertised. The last 3 months we added $710B in new debt. That’s a $3T/year clip. What would GDP be if our deficits were “reasonable?” The point is the “denominator” (GDP) is being hugely exaggerated by massive deficit spending.
    1
  2269. You think we hate government now. Wait till Yellin hires 50,000 IRS goons to hassle taxpayers and find $400,000,000,000.00 to help pay for BBB.
    1
  2270.  @nonameissafer.8457  Split government. Republicans led by Newt Gingrich forced Clinton to chop welfare and bargain. That being said, the debt still grew every year in those years as well. Is there a single democrat today besides maybe Joe Manchin who is talking about unsustainable ruinous debt?
    1
  2271.  @AnonYmous-wf1oz  And yet the irresponsible democrats wanted to spend even more and that’s the first thing they did when they took full control. And now we’re suffering highest inflation since Carter because of it.
    1
  2272. Totally agree. Since 2008, we’ve added $20T in new debt (tripled it) and printed $9T.
    1
  2273. Taking a 95% haircut on US debt would be just as devastating as the other options but I think it would tend to hurt the more wealthy more which is a good thing.
    1
  2274. Pretty area
    1
  2275. Tesla and EVs are such a scam. First of all, they gave their wealthier buyers billions in state and federal credits. Even though some of those are expired, anybody buying an ICE vehicle has to subsidize EV makers through transfer credits which is Tesla’s most valuable source of income. Think about this, the poor who can only afford an ICE, are paying extra by subsidizing the rich and snobby Tesla buyers. And Biden wants to to expand these policies. Subsidies for the rich EV buyers. Student loan forgiveness for the college educated. Public pension bailouts. Disgusting.
    1
  2276. Ich bin ein Ukrani!
    1
  2277. “Excess” is too vague and non-quantified. It really helps many people to know about a 14 unit maximum.
    1
  2278.  @jensgronning4436  Drinking yourself to death isn’t very rational now, is it? Should we also stop posting speed limits, Caloric and health content any other metric to try to help people be responsible?
    1
  2279.  @jensgronning4436  Alcohol abuse endangers other people as well. You ever hear of something called drunk driving or spousal abuse?
    1
  2280.  @jensgronning4436  Does that go for Vaccines and mask mandates too? Regarding alcohol are you saying anti drunk driving campaigns aren’t helpful?
    1
  2281.  @jensgronning4436  Well we’re mostly on the same page. Again I’m pretty libertarian and small government too, but I also think information should be readily available. I agree it’s a tough balance sometimes.
    1
  2282.  @arachosia  Yes! Sorry, typo
    1
  2283. There are a whole plethora of reasons people will eventually sell.
    1
  2284.  @MHFIN  Not really. Nick is just showing the factual data laying out and confirming the bubble. Bubbles pop on their own time, sometimes months or years after they are obvious. Just ask Dr. Burry. The only way home prices don’t crash is if Fed tightening creates a massive recession and they abandon fighting inflation and force rates back to 0% and turn back on the QE money printer. I just don’t see that happening.
    1
  2285. Inequality is NOT the reason for the rampant looting and thefts.
    1
  2286.  @nipples8776  An entity operating as a massive straw manner buyer of something will ABSOLUTELY cause the price of that item to rise. The Fed injecting $3 trillion of liquidity into the home mortgage business helped both artificially suppress rates and increase mortgage availability, driving home prices higher and higher. Unwinding this will do the opposite to mortgage availability and prices.
    1
  2287. What’s weird is it’s widely known that “Heidi” interrupted a NFL football game in the 1970s but so few people are aware of Nixon interrupting Bonanza to speak of the beginning of the end of the US dollar and US dominance. Shows you where our priorities are. SMH
    1
  2288.  @jimbeam4111  Exactly! But the way they keep manipulating the data and changing the formula, who knows?
    1
  2289. Vote for Democrats, defund the police, and reward zero accountability and this is the predictable outcome.
    1
  2290.  @AlexYounger  Although they typically have a slight GOP majority, with the exception of maybe OK, those states are highly polarized and have large minority populations that vote for larger and larger liberal policies and government overreach.
    1
  2291. PeterButt is horrible.
    1
  2292.  @medicinemaaan  The unborn child is not the woman’s body either. It’s a completely different living being with its own DNA. The child is just borrowing the uterus a few months.
    1
  2293.  @viewer409  Sure it is. In fact, as science continues to advance the uterus is becoming increasingly unnecessary for the child’s survival outside the womb.
    1
  2294. No politician can claim a good economy with this level of non-pandemic, non war deficits.
    1
  2295. Remember the Biden administration said these are only rich people problems.
    1
  2296. Technically that’s stealing because your kids at college have their own residence. But yeah, a lot of people will cancel when they start cracking down on password sharing.
    1
  2297. The GOP should NOT agree to raise the debt ceiling. Make the democrats live within a budget like everyone else.
    1
  2298.  @EpicCrust  You don’t think it’s a real possibility? Russia told the west from day one. “Butt out or we’ll use nukes.” But the west ignored those threats and continued to fund and escalate the war, sending better and better weapons and technology. Now the west is sending its most advanced tanks and Russia says red lines are crossed by it. How do you think Russia will escalate things on their end? There’s not a lot more levers of escalation before nukes start entering the equation. This is as bad or worse than the Cuban Missile Crisis. But Nikita K was a lot more rational and pragmatic than Putin. So luckily Nikita blinked.
    1
  2299.  @EpicCrust  Who knows. We’re playing a game of chicken and Putin isn’t exactly the most sane bully on the block. The west has raised the ante by sending its best tanks. What does Putin do to raise the ante? He’s got satellites to see exactly when they get deployed into Ukraine. Why not just do a limited nuclear strike then to destroy them. Then what does the west do to retaliate? How do you see this ending?
    1
  2300.  @EpicCrust  It’s a reasonable possibility. Think of all the arrogant dicks that would rather kill their spouses than let anyone else have them? I’m not sure if Putin is that crazy but no reason to unnecessarily provoke him and continue to escalate the conflict. I think there is little doubt he will retaliate. And then the west will also raise the stakes. When does sanity prevail?
    1
  2301.  @stbhansen  Worse. I live in a very rural area not near missile silos or a military base.
    1
  2302.  @stbhansen  Meh.
    1
  2303. So, after the collapse of the USSR, Russia’s wealth quickly ended up in a hands of 17 or so billionaires while all the regular folks lost what little savings they had to inflation? Almost makes you understand why communism was embraced there. And what is going on in the US currently.
    1
  2304. Half a million $ to illegally break into this country. BLM threatening to burn down NYC if police try to restore order. Country leadership picked by woke check boxes, not qualifications. Fed money printer on overdrive. One is four can’t afford to feed themselves. Billions spent on homeless with no results. Highways are racist…
    1
  2305. How is what is going on now any less “fraudulent” that 2008? And home underwriting doesn’t look at one time sources of money like stimulus and student loan forbearance to support regular monthly payments.
    1
  2306. The businesses doing well in this market are the de facto monopolies: big tech, government and labor unions. That’s not a good sign.
    1
  2307. The real question is how will Russia raise the bet in this deadly game of chicken to match?
    1
  2308. I’ll never touch an EV until it’s just as convenient as an ICE for the same price. It’s not even close.
    1
  2309. Liberals: “We hate the US making fossil fuels more than we hate Russians massacring Ukrainians”
    1
  2310. What a bunch of pompous jerks.
    1
  2311. 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
  2312. Groceries are some of the most competitive things Americans buy with profits typically in the single digits.
    1
  2313. The US is currently at the “dependence” stage of the cycle…soon to collapse and revert back into bondage and dictatorship. “Democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.” Alexander Fraser Tytler, 1787
    1
  2314. 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
  2315. Musk is right. Hell is coming. Excess Debt and money printing is going to cause a credit crisis of epic proportions.
    1
  2316. Because of irresponsible behavior at the Fed and mountains of public debt we have only two choices: massive wealth destruction or massive buying power destruction. I’m sure they will pick the latter but that option hurts the poor the most which will lead to violence and civil unrest. Ugly times ahead.
    1
  2317. I know many folks are investing in crypto to protect themselves against fiat currency collapse. Problem is, when the dollar hyper inflates and fails I’m not sure if it’s gonna be a world worth living in.
    1
  2318. Is that dude wearing lipstick?
    1
  2319.  @billmoretz8718  Spot on!
    1
  2320. Dude spends millions on hookers and heroin and he’s saying his reputation being tarnished?
    1
  2321. Just like Kyle, Bernard Goetz was a hero utilizing self defense as well. But the left was determined to still ruin his life using civil lawsuits.
    1
  2322. Ultimately, what was the #1 reason housing collapsed in 2007-2011? That reason is prices started to fall. Falling prices expose the bubble and start the panic selling.
    1
  2323. As RFK Jr. so eloquently said, “the censors have NEVER been the good guys in history.”
    1
  2324. These idiot war hawks need to watch the movie “Threads.” Somebody is going to escalate too far in this game of chicken.
    1
  2325. Why aren’t people projecting how this all ends (debt big picture)? We all know our elected officials have no plans on ever balancing the budget. Only spending and promising even more than we take in. How many years do we have left until there’s either hyperinflation or some sort of biblical default? I give us less than 5.
    1
  2326. Corrupt politicians like Pelosi shouldn’t even be able to buy stock. Serious conflict of interest.
    1
  2327. Check recently denied trans reassignment cases. The person looks androgynous.
    1
  2328. How can the Fed reduce its $9 trillion balance sheet (to fight inflation) while the US government is simultaneously adding a other $4 trillion in debt over the next 18 months? I just don’t think there’s enough non-central bank demand to buy all this debt.
    1
  2329. I agree. The west’s escalation and provocation of Russia is getting scary. This is far worse than the Cuban Missile Crisis but luckily Khrushchev wasn’t a mad man.
    1
  2330.  @Johnrider1234  And they are planning to unload them. That is going to create havoc.
    1
  2331. Boise used to be a cute laid back town. I was there last summer and found the roads and drivers crazier than in California. It lost all its charm.
    1
  2332.  @alexaber9786  There’s already record violence and murders in many US cities. There’s 40 million people living in the desert SW with very little water. Prices are skyrocketing on food and energy. Baby formula outages. Toilet paper outages. When the idiots running things start the “price controls” there won’t be enough food or energy to buy at any price - and that’s when the looting will escalate, wiping the stores or anything to buy in a few hours. We have “progressives” running on the idea of squatting on vacant homes. Minneapolis got gutted. Portland is an unrecoverable mess. Seattle much the same. New York is a violent mess. And on and on. Many of these cities had regular riots for much of 2020 and big swaths of their downtowns are “no go” zones. I hope you’re right and the upcoming recession/depression is orderly but recent human behavior suggests otherwise.
    1
  2333.  @alexaber9786  Nobody said zero food. I said not enough food and water. This country has 500 million guns. When people are desperate they are going to try to steal things and break into people’s homes.
    1
  2334. This is certainly plausible. It just seems so suspicious. Odds are that China released Covid on purpose to weaken and bankrupt the west. Then no surprise Russia invades Ukraine with zero outrage from China. China even refuses to call it an invasion. This just seems like all part of a larger plan to end western hegemony and economic dominance.
    1
  2335. Oh barf. First it’s transitory, now it’s peaked. So sick of these corrupt idiots lies..
    1
  2336. 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
  2337. The world spent well over $25 trillion to deal with Covid. And that’s just the spending. Add to that another $28 trillion in lost output. All that spending went somewhere. $25 trillion is the equivalent of creating 25,000 billionaires.
    1
  2338. I would love to see the Fed liquidate it’s balance sheet to see real price discovery in markets.
    1
  2339. QE is complete straw-man fraud and is the biggest driver of the housing bubble.
    1
  2340. Yellen needs to take accountability and resign. Ignorance and incompetence of the workers under you is YOUR responsibility!
    1
  2341.  @rup04  Ha! Yeah true. The Ottoman’s losing WW1 or the Holocaust didn’t help alleviate the matter either. Not to mention the rise of Christianity leading to the expulsion of Jews from the holy land.
    1
  2342.  @frednimzowi9852  Every western country they let Muslims in at a significant quantity. Hence why the UK wanted out.
    1
  2343. The only thing keeping crime and murders from being much worse is because many law abiding Americans own guns.
    1
  2344. “The assets are there” is a lie. If so, they could liquidate to payoff deposits. The problem is these assets is highly overvalued. They need to do a mark to market and give haircuts.
    1
  2345.  @ashog1426  The little guy won’t have a job.
    1
  2346. Liberals: “We hate fossil fuels more than we hate Russians massacring Ukrainians”
    1
  2347.  @laza6141  Every day for 30 years.
    1
  2348. Um, yes it is. Especially smaller companies or zombie companies.
    1
  2349. Shouldn’t we also shut down the Fed? They bought $9 trillion in mortgages and US debt paying between 1% and 3%. The value of these “assets” has declined significantly. But sadly, it will be the treasury (taxpayers) who bail out the Fed.
    1
  2350. The Covid era price increases need to fully reverse. That’s slowly happening. If it wasn’t for all the sub 3% mortgages it would be happening much faster.
    1
  2351. @ I agree that a large portion of the PPP loans/grants were fraudulent or embellished. I know a dentist who built a million dollar summer cabin with the proceeds.
    1
  2352. I would like to know what the unemployment rate, asset prices, and GDP would be if the government was forced to balance its annual budget.
    1
  2353. When the USSR collapsed over 30 years ago due to massive debt, causing the end of the Cold War, the US was supposed to get a “peace dividend.” Well, what was US debt in 1990? $2 or 3 trillion? Now it’s $30 trillion. What happened to that supposed dividend from all the Cold War savings? We squandered it. And now our financial situation looks just like the late 1980s Soviets. Not sure if the US is going to break apart like the USSR but it’s gonna be ugly and violent.
    1
  2354. I don’t think Yellen can possibly be as dumb, dense and uninformed as she pretends to be. However, why is this woman in charge of anything more complex than the cribbage game at her nursing home?
    1
  2355. We? Why are we risking nuclear catastrophe, WW3, economic hardship, and global starvation over a disputed border between Russia and Ukraine? These corrupt politicians need to negotiate a settlement, not send tens of thousand of people to their deaths.
    1
  2356. You would think wartime would be the absolute WORST time to deplete our strategic reserves. But making bad decisions is the Biden administration’s forte.
    1
  2357. Sadly, DC has unlimited money. They will just bus them wherever they want to go.
    1
  2358.  @Easy-Eight  At some level of debt and leverage, the whole thing collapses on itself. We’re running the biggest Ponzi Scheme in world history by far. For now, the markets are just reflecting how worthless the dollar is becoming.
    1
  2359. 100% correct. WW2 wiping out most of world economic output EXCEPT the USA bailed us out of the Great Depression. We don’t make anything today.
    1
  2360. The collapse of SVB could have been handled so much better without a bailout and also saved the integrity of insurance limits. They could easily estimate the approximate haircut for amounts above $250k and divvied up accordingly. Change only happens when there are consequences to bad behavior. Horrible precedent.
    1
  2361. Not only will another Great Depression happen, it is now baked into the cake. We’ve been artificially buoying the economy through massive Federal deficit spending for decades. Once that financial pyramid scheme collapses, game over.
    1
  2362. It’s only a hedge if they never have to sell.
    1
  2363. Same thing. It took 5 years for home prices to bottom out after 2007 but it was still called a housing “crash”
    1
  2364. The UN is disgusting. It needs to be defunded big time. It serves no purpose but to green light terrorism.
    1
  2365. 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.
    1
  2366. All caused by liberal leadership. Portland just got what they voted for.
    1
  2367. Wow, 17 months since George Floyd put a gun to a pregnant woman’s belly or commited any other crime. Keep up the good work, GF!
    1
  2368.  @mattfoley6082  Acknowledging the fact that the world is much better off without the career criminal GF is completely independent of who ultimately snuffed out his pitiful life. The grim reaper was already knocking on his front door.
    1
  2369.  Nick Belden  Haha! And you know Ash is getting one over on the big druggie dummy by paying with a counterfeit $20!
    1
  2370.  Nick Belden  Ash died cause some inept racist cop shot an unarmed woman in the face who was zero threat. GF had it coming big time.
    1
  2371. Got lost. Surgery. Meh. I’m not buying it. They were there to deal in drugs.
    1
  2372. Euro wars sucked but at least it kept those countries at their best. Today it’s a centrally controlled shit show.
    1
  2373. Strong? How strong would the economy be if the government ran a balanced budget and normalized rates, and turned off the money printer?
    1
  2374.  @bamahama707  I don’t think people realize how ugly a total default and reset is. In the 1920s in Germany, hyperinflation/default led to some terrible economic times and that anger and desperation led to the rise of Adolf Hitler.
    1
  2375. The Biden Administration has weaponized the Federal Government to terrorize their political enemies worse than the KGB or gestapo did in the past. Scary times.
    1
  2376. Subsidies are a scam. Once the subsidies on the Priuses ended, their prices went down by more than the amount of the subsidy.
    1
  2377. 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.
    1
  2378. The US and many other countries have been borrowing from the future for decades. But Dimon’s right, the QE trillions of money printing is going to be the coup de gras. No way we remove that liquidity without massive pain.
    1
  2379. How do the terrorists know when to pop out of the tunnels? Do they have street level cameras?
    1
  2380. These people have burned and/or been abandoned by their family, friends, coworkers, and now their government. But yeah, complete strangers will fix the problem.
    1
  2381. Hey Pete, take Bette Midler’s advice and just breast feed to fix the problem.
    1
  2382. This debt Ponzi scheme only ends in one scenario: Ruinous hyperinflation. Austerity and/or default will never be chosen nor accepted.
    1
  2383.  @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.
    1
  2384. 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.
    1
  2385. Can you imagine being so miserable that you spend you weekends spewing hate?
    1
  2386. Hard Covid lockdowns were basically spring 2020. So why does the Fed still have a 0% bank reserve ratio? This should have been restored long ago - and if the Fed doesn’t restore it now, it portends much bigger problems in the financial system.
    1
  2387.  @jonathantaylor6926  Excellent question. Remember the bond market isn’t a free market since the Fed manipulates rates by acting as a straw my buyer and seller of US debt and mortgages. They are currently sitting on $7 trillion in US debt and mortgages (about half accumulated during Covid). If the Fed tried to unload these, treasury yields would skyrocket. But the Fed can’t keep the inevitable at bay forever.
    1
  2388. You think housing is expensive now, wait till they try to find housing for the 100,000 per month storming across the border.
    1
  2389. Higher and higher inflation until the wheels fall off and then hyperinflation.
    1
  2390.  @JenMarco  Agreed the Fed (and massive deficit spending) caused inflation. The Fed also possesses the tools to stop inflation. Hopefully, they are done with QE, unload their balance sheet, and rates will be raised higher than inflation. I just doubt they will get too far down that road until there’s a massive recession/depression.
    1
  2391.  @atiwary  Until now, the Fed hasn’t had to worry about existing high inflation when/if they abandon tightening.
    1
  2392. Well of course Arab nations want a ceasefire. They want Gaza to continue to harass and kill Jews.
    1
  2393. What kind of economy would the US have if it had to run its economy on a balanced Federal budget? That’s been a extra $trillion pumped into the economy every year.
    1
  2394. Liberals: “We hate fossil fuels more than we hate Russians massacring Ukrainians”
    1
  2395. Should we be worried? It seems every time the virus spikes in China, the rest of the world gets it a few months later.
    1
  2396. In all fairness to SVB and banks in general, crappy fiscal and monetary policies turned normal operating procedures on their head. The Fed should never have held rates at 0% for so long, bought $9 trillion in mortgages and US debt, and the government spent trillions more than they should have. We live in a rigged environment.
    1
  2397.  @MilkIsASauceTV  Who cares what the bible days. 95% of biologists say life begins at conception.
    1
  2398. Please, Liberal portlanders who are moving away. Remember who you voted for that created the policies that created the homeless when you move to new locales.
    1
  2399. They should be protesting in front of the abortion doctors’ homes. Those people are worse than Josef Mengele.
    1
  2400. This could easily turn into a world war. We already have war in Europe and war in the Middle East. I suspect at some level of Israeli retaliation, other Arab countries will come to Palestinians defense, and that will bring Israel’s allies into the conflict as well.
    1
  2401. Covid has empowered those who want to turn this country into communist China. Talk bad about government and we’ll have our goons lock you up.
    1
  2402. Not really. Fractional banking just amounts to leverage. Leverage magnifies the problem but is not the underlying problem. Artificially low interest rates and trillions in deficit spending are the root cause.
    1
  2403. In a normal functional economy, interest rates work as stop lights to avoid asset bubbles, manage risk, and keep assets priced correctly. The Fed forcing rates to 0% plus $9 trillion in straw man purchases of mortgages and US debt caused assets to be inappropriately inflated in value and inflation skyrocketed. Now that the Fed has begun to normalize rates and unload their balance sheet, assets are being repriced accordingly. SVB and Bankman-Fried are just the canary in the coal mine. Buckle up folks.
    1
  2404. Sending more money to escalate the War in Ukraine makes about as much sense as when we escalated our involvement in Vietnam. Dems are always getting us into unnecessary wars.
    1
  2405. Can you even imagine the IRS hell that would have been unleashed if Biden would have got those 60,000 IRS agents in BBB?
    1
  2406. The markets are falling fast and the Fed hasn’t even turned off the money printer or raised rates yet. Pretty ominous.
    1
  2407. Knee pads always talks like she’s speaking to 5 year olds.
    1
  2408. It was incompetent idiots in the Biden Administration like Yellen that caused this and other problems. If they don’t lie about inflation and spend like drunken sailors, the Fed would have had a much easier job. This is just the tip of the iceberg that has the potential to create another Great Depression- or worse.
    1
  2409. You watch Yellin get grilled the other day on debt and whether or not BBB is paid for? What a corrupt POS she is. Although she admitted debt is a problem and a debt to GDP ratio above 100% creates bigger problems, she downplayed and tried to argue now is the time to add more debt because the US debt interest “teaser” rate is so low. Insanity! How did that turn out for all those that maxed out their credit cards with those 0% for 18 months offers? How did that turn out when people bought homes they could only afford with low teaser rate ARM loans? No sane financially minded person would argue it’s wise to max out debt when debt financing is temporarily at record lows!! This woman shouldn’t even be running a lemonade stand!! That’s the problem with 80 year olds running the country. They just want the benefit of maxing out all the credit cards and then die before the big bankruptcy happens. At the rate we’re going some current 80 year olds might see the big collapse.
    1
  2410. I just multiplied all the Teslas sold since day one times average sales price and it’s about $150 billion. Elon Musk has been paid far more than the top line sales figure. How can that be? That tells me the stock price is vastly overstated.
    1
  2411. He never said that. He said despite Trump’s better policies, we’re still screwed.
    1
  2412. Did you use a coupon or have some other discount applied?
    1
  2413. I can’t believe anyone who world want to own a home in portland. I suspect prices will crash soon. Why would anybody pay astronomical prices and sky high property taxes when a tweaker can shit in your bushes and steal anything not nailed down?
    1
  2414. 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.
    1
  2415.  @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.
    1
  2416. I wonder if they will all do long prison sentences like the 1/6 protesters?
    1
  2417. That’s the problem. BLM mantra destroys traditional families and raising decent human beings.
    1
  2418. Where is the housing for the 200,000 per month of illegals storming across our southern border? That’s like a city the size of Spokane, WA that’s coming across the border every month!
    1
  2419. Good stuff Mark. What if the GOP gets so disgusted with the latest $4 trillion “infrastructure” bill that they go nuclear and refuse to increase the debt ceiling?
    1
  2420. The US has a president who hid in his basement afraid of Covid. Ukraine has a President who is out in the streets with his people during a violent war at his doorstep.
    1
  2421.  @zomgoose  That just means it will take a smaller drop in prices before they leave the keys on the counter and walk away.
    1
  2422.  @noonan395  When interest rates go to 7-8% they will be plentiful.
    1
  2423.  @HardcoreGamer101508  No, but when interest rates rise to 7%, homes will be reduced in price from $500k to $200k.
    1
  2424.  @benjamite15  Portland and multnomah county are mismanaged. It was recently ranked as the worst city in America to be a landlord. That should tell you where the problem is and why landlords are getting out of the business.
    1
  2425. What they don’t take via higher property and other taxes, they will rob via inflation.
    1
  2426. What if republicans hid the George Floyd botched arrest that Democrats were able to later get released? Would this idiot ranking member still be saying this? I think not.
    1
  2427. This is exactly why China and Japan aren’t too keen on immigrants.
    1
  2428. A widespread nuclear war would do the trick. But it would also makes extensive areas uninhabitable.
    1
  2429. Not dissimilar to the illegals of today.
    1
  2430. A white Palestinian who speaks perfect English? Sigh
    1
  2431. And it’s also renewable as carbon based organisms are constantly dying!
    1
  2432. 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.
    1
  2433. Powell just announced The Fed is likely turning off the money printer a few months early. Who is going to buy our debt and mortgage backed securities now?
    1
  2434. 79 million Americans receive free Medicaid healthcare! If a person even makes minimum wage they likely make too much money to be eligible. Something is fishy. There must be tens of millions getting this healthcare fraudulently.
    1
  2435. What happens when Russia’s conventional weaponry is drawn down to the point where all they have left are Nukes?
    1
  2436.  @danielosullivan7940  Obviously Putin was in the wrong for invading Ukraine. But I still think we’re going about it completely wrong by continuing to escalating the fight with a nuclear power by continuing to increase the destructive power of the weapons we are sending to Ukraine. Luckily, Kruschev eventually blinked in 1962, but will Putin blink?
    1
  2437.  @danielosullivan7940  I think there’s got to be a diplomatic solution that doesn’t risk global catastrophe nor does it allow Putin to be a tyrant. I just don’t hear any real negotiations going on. Just continued escalation and risk.
    1
  2438.  @danielosullivan7940  Russia and the US have 90% of world nukes. Russia is just the most recent country to threaten using them if the west overly interferes in what they view as a localized civil war. What if Texas seceded and the US was fighting the secession and the Russians and their allies were funding and sending all their best and most advanced tech and equipment to kill non Texan Americans? Do you think the US would similarly threaten Russia and its allies? This is a tenuous and powder keg of a situation. I just don’t see the risk being worth it.
    1
  2439.  @StillAliveAndKicking_  You not only walk with turkeys, you are dumber than one. See you at the other side of the nuclear winter. You’ll be one of the lucky ones if you live in a city or near a military facility.
    1
  2440.  @StillAliveAndKicking_  Do you really want to play chicken with a crazy man? There are other methods to keep a lid on this guy.
    1
  2441. We need officials who won’t be dead (like Biden and Yellen) when the calamity of their awful decisions comes to fruition. Short timers make short timer decisions.
    1
  2442. Yellen is definitely an idiot but I don’t think she’s quite as stupid as she lets on. She’s selling long term bonds because she knows inflation and rates are gonna start back up. Not to mention a a debt saturation point.
    1
  2443. It looked like only military age males at that bomb site. At this point, consider them combatants intent on doing harm to Israelis.
    1
  2444. Enforcing the FDIC insurance rules was a perfect example where Democrats could make the rich pay their fair share. But nope, once they found out SVB depositors were rich Democratic donor, they had to be bailed out.
    1
  2445. We spent more on Covid than both world wars, almost all paid with new debt and printed money. How could this possibly end well?
    1
  2446. @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.
    1
  2447. @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.
    1
  2448. @Mark Miwords Haha! Yep. Yeah, most of my cycling buddies are left wing nut jobs.
    1
  2449. Higher and higher wages and benefit costs. Unfriendly California business regulations. Rampant theft and break ins. Covid lockdowns and restrictions. My only surprise is why there’s ANY restaurants or brick and mortar shopping left.
    1
  2450. Did Jimmy Carter demand 10% of Billy Beer profits “for the big guy?”
    1
  2451. In 1980 you could get a sweet Toyota Celica for about $3200.
    1
  2452. The Fed, which owns $6 trillion or 20% of all US debt, is starting to sell as well. Rates are gonna skyrocket.
    1
  2453. “Copious thought?” That makes zero sense, Harris. However, I was impressed by the use of apoplectic.
    1
  2454. 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.
    1
  2455. Can you imagine how bad things would be if/when the government is unable to run multi-trillion dollar deficits to keep the economy on life support?
    1
  2456. I wish the USA would adopt the world standard for dates. I keep hearing 7/10 and think it’s July 10th rather than October 7th.
    1
  2457.  @MovieGuy808  Ugh. What I’m saying is these foreign reports generally say 7/10/23 which to me conjures up July 10th. It would seem an easy task to get the world all in sync. I like either D/M/Y or Y/M/D so it follows the natural chronological order.
    1
  2458.  @BR-KK  Well, US military and medical have already gone metric. But our Uber-popular sports in this country almost guarantees we’ll stay on the imperial system. Date structure conversions seem doable, however.
    1
  2459. Sure it will. Crush income and demand and supply problems go away too.
    1
  2460. I was laughing a few years ago when idiot Bernie Sanders was championing $15/hour minimum wages. I was thinking to myself, you idiot, all that will do is increase prices across the board so $15 buys what $10 used to. Democrats aren’t very bright.
    1
  2461. I guarantee you if AOC or any other of these selfish crazies get pregnant and want the kid, they will have baby showers, gender reveal parties and sorts of other celebrations of the child’s life. It’s only a “clump of cells” if they don’t want the kid.
    1
  2462. Government “solutions” to problems are ALWAYS 100x worse than the problem.
    1
  2463. 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.
    1
  2464. Tudor Jones was saying inflation is NOT transitory and pointed out the growing powder keg of trillions in US consumers savings account. If those folks start seeing their savings ruined by inflation, those savings might start emptying = higher inflation!
    1
  2465.  @666yaoz  PTJ was pointing out the massive savings as just one more of the multitude of reasons why inflation is NOT transitory. Of course, in the long run, everything and anything is transitory. Thanks to the Reagan-Volcker Act, 1970s inflation was transitory too. But stopping it was very painful and it will be much worse this time around.
    1
  2466.  @brianh6  If they don’t deal with it soon, inflation will turn into hyperinflation. You can’t print and borrow your way out of a pickle. Weimar Germany and many others tried that and failed miserably. The Fed policies and reckless fiscal policies backed us into a corner where pain and fiscal ruin happen no matter what.
    1
  2467. Extra and especially extended unemployment is cash. Let’s say it’s a couple where one is working and the other is banking all the bonus unemployment dough. That get could then over the top for the necessary down payment.
    1
  2468.  @michaelpalomba2820  Good points. I’m just making the argument it played a role. Especially where it’s a couple and one still had a good job. That bonus extra $600 and $300 per week added up to a down payment fast if you saved it which I’m sure many did. But you’re right, the bigger drivers were tastes changing, foreclosure moratoriums, record low mortgage interest rates, and the Fed gobbling up mortgages at $40 billion per month with their QE money printer.
    1
  2469.  @michaelpalomba2820  The reason I am certain it will crash is I ask myself, how can the economy be better in October 2021 versus February 2020? It can’t and we’re kidding ourselves to think otherwise. We have trillions more debt and millions more without jobs and thousands of businesses have closed for good. The economy is only held together be record deficit spending which can’t go on forever. Once that stops, everything crashes.
    1
  2470. Exactly! Think about it, sanctions are going to force Russia to default but whey the US can just pay all its debt with the money printer. That can’t make other countries happy.
    1
  2471.  @deadend1041  You are either clueless or way over complicating the issue. Revenue in, spending out. The delta is either deficits and debt or surplus. The last 40 years has been deficits and debt which has to come from the future plus interest. This Ponzi scheme is about at the end of its rope.
    1
  2472. Cue the ending of Planet of the Apes.
    1
  2473. How can that Fed print $8 trillion out of thin air since the GFC without inflation going nuts? It’s totally dishonest the Fed has been trying to down talk a problem they created and is well known outcome for anyone who has taken Econ 101.
    1
  2474. I’m ok with adults choosing whatever gender they are more comfortable with. However, as long as sports are still gender segregated, there needs to be a better, scientific metric for which gender you must compete.
    1
  2475. As the saying goes, if you think (fill in the blank) is bad now, just wait till it’s free.
    1
  2476. Any bank or financial institution holding longer term debt assets is experiencing massive losses in the value of those assets. This is not isolated.
    1
  2477. My guess is Russia will escalate accordingly. They are probably watching satellite images very closely to be ready to turn those tanks into scrap metal once they cross the border.
    1
  2478. Sadly, I am 99% sure this is happening soon.
    1
  2479. How could anyone think the economy is better now after Covid? $10 trillion in added US debt since Covid. Countless businesses closed their doors. Millions more unemployed. Workers refusing to go back to work. Violent and dirty big cities emptying with homeless worse than ever. Huge change in habits and values. People mostly avoid crowds where a lot of economic activity takes place. Remote work will cause commercial space to collapse Because of this, Realistically, home prices should be far BELOW February 2020. The gains were all manufactured, manipulated and temporary fueled by record deficit spending, bonuses, government checks, near 0% interest rates, Fed mortgage purchasing, and foreclosure moratoriums. All of which are coming to an end.
    1
  2480.  @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.
    1
  2481. It’s weird to think every one of those tank kills turns 3+ humans into a pink stew.
    1
  2482.  Hereandthere andnowinyourface  Chill. Not minimizing the atrocities of war. I didn’t know towns on the Sea of Azov were so pleasant.
    1
  2483.  @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.
    1
  2484. I think it was Rick Rule who eloquently stated “interest rates work as stop lights in a healthy economy.” The problem is the Fed forced rates to 0% for the better part of 13 years. No stop lights = zombie companies everywhere!
    1
  2485. It’s not easy to bankrupt a bank. It takes a special kind of woke incompetence.
    1
  2486. Democrats can’t comprehend the concept of fungible. Fungible means ANYTHING of value can be traded for anything else of value.
    1
  2487. Gaza is in the position it’s in because they put terrorists in charge.
    1
  2488. 24 hours notice is a hell of a lot longer than the ZERO hours notice Israel got.
    1
  2489. I’ve never been on a bus that nice. You know they are getting free meals too. Maybe all Americans should renounce their citizenship and then break into the country to get a free paid vacation across America is sweet cruiser buses.
    1
  2490. Joe Kernen is the best!
    1
  2491. Can these political leaders just chill for a couple hours and watch the movie “Threads”?
    1
  2492. The fact they you’re calling a “peak inflation” and “peak fear” means we aren’t even close to it.
    1
  2493. I wish we could rescue our human homeless
    1
  2494. Mormons have a zillion kids so it‘a interesting they aren’t loving the liberal $300 per kid per month madness.
    1
  2495. Most of these people are not workers. They will be a drain on our schools and bankrupt social programs.
    1
  2496. Central Banks’ current strategy is to do whatever it takes to keep the Ponzi scheme going.
    1
  2497. How can home prices be higher post Covid versus pre Covid? Trillions more in debt, millions more unemployed, and thousands of businesses are gone forever. The only thing that can explain this is inflation and government policy like foreclosure moratoriums and record low interest rates.
    1
  2498. How has Israel committed war crimes in this war? Good grief war is hell.
    1
  2499. You won’t find these camps in Lake O. The police are allowed to do their jobs in the more affluent areas.
    1
  2500. Love me some Art Laffer!
    1
  2501. No, but they won’t be able to sell the thing either without bringing a ton of money to the table.
    1
  2502. It’s not easy to bankrupt a bank. Some deadly formula of fraud, malfeasance, incompetence and downright stupidly needs to occur. On another note, why has the Fed not immediately restored at least a 10% banking reserve ratio requirement? It was reduced to 0% to deal with COVID!!! The Covid financial emergency was 3 years ago!
    1
  2503. We’re on borrowed time folks. We’ve massively robbed from the future for two generations. The Fed has pulled out all the stops to keep the Ponzi scheme going with interest rate manipulation and QE. What’s sad, is we could mitigate what’s coming with some smart austerity. But the voters and politicians won’t allow austerity. So the only end game is hyperinflation. And that’s gonna be ugly.
    1
  2504. It speaks volumes that the Fed still hasn’t moved to restore reserve ratios and force assets to be properly priced.
    1
  2505. Muslims are always looking to hijack important events, armistice,veteran’s day, the Olympics, Wall Street.
    1
  2506. What does Kamala have for staff? Like 100 or so six figure salary Government lackeys? Fire them all and hire a HS English teacher. Have her start with just nouns, articles and active tense verbs. Roll in the adjectives and adverbs when she gets up to speed. Maybe by the end of Biden’s term she can do prepositions and conjunctions. If things are going well, maybe attempt conditional and plu-perfect tenses.
    1
  2507. The GOP needs to either distance itself from their pro-life views or try to clarify their stance to one of pragmatism. Abortion is here to stay, just how do we keep it rare without upsetting the suburban women?
    1
  2508. The USA has been AVERAGING $2 trillion annual deficits since 2008. Interest alone has skyrocketed to over $1 trillion per year and only going higher. We’re well past the tipping point. Default/hyperinflation is a near certainty.
    1
  2509. 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.
    1
  2510. The Latin root of Science is “Scio” which means “I know.” Emperor Fauci is all knowing! What a narcissistic joke he is.
    1
  2511. Unless you are on a wealthy island somewhere with its own food supply and riches, there is no way you can be prepared.
    1
  2512. Russia would need a massive police and occupation force to control the Ukrainian citizens.
    1
  2513. $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.
    1
  2514.  @mycommentskeepgettingdelet184  Um no, that’s not why they said.
    1
  2515. Expect homeless populations and rents to continue to swell. Maybe all those Haitians can take over the rentals from the millions of Americans soon to be evicted.
    1
  2516. A dirty face diaper not allowing carbon dioxide to properly exit your pie hole is more unhealthy than Covid risk.
    1
  2517.  @patted44  He needed to restore our military and end the Cold War. Which he did but Dems wouldn’t give him military funding without also massively increasing spending elsewhere. It was a bitter pill for Ronny to swallow until the day he died. Politics sucks.
    1
  2518. @ace9840 There was so much respect for made in USA in those days a city in Japan renamed itself “USA.”
    1
  2519.  @patted44  No excuse. Sadly, politics is about comprise and more often than not, that means too high of spending combined with too low of taxes. And that’s a recipe for eventual disaster.
    1
  2520. The first nerdy guy out kicked his coverage with his Botox bimbo.
    1
  2521. Faux-Xi is a criminal. He participated in releasing this virus.
    1
  2522. ESG is nuts.
    1
  2523. The ONLY thing keeping this Ponzi scheme economy on life support is the unsustainable $1 trillion in added debt every 100 days. That’s gonna blow up on us sooner rather than later.
    1
  2524. Well, It’s QT or higher and higher inflation. And folks are getting quite restless about inflation. High inflation = politicians get voted out.
    1
  2525.  @ericcone1  You really expect foreign investors will buy risky mortgages paying 3% when inflation is 8.3%? And $3 trillion is 3,000 billionaires.
    1
  2526.  @ericcone1  Government will be looking to sell debt, not buy it.
    1
  2527.  @menrbuiltnotborn6241  Many people aren’t that patient. And when houses start to go down, they will go down for years.
    1
  2528.  @bluenwhite2009  Well supposedly they started last month and are going to unload at an even greater rate in September. I just don’t see them getting very far before the wheels fall off.
    1
  2529.  @bluenwhite2009  QE has only been going since 2009 and recent bad Fed policy is what has created high inflation and the asset bubbles we have today. When do you think inflation will be back to 2%? I would almost bet NEVER. To get there will mean 10% unemployment and/or a depression like economy. The party was fun while it lasted.
    1
  2530. Nick: whatever happened with the move out charges with the apartment in Dallas?
    1
  2531. Before he broke bad and started cooking meth, Heisenberg was apparently a fervent Nazi.
    1
  2532. What did we spend on Covid lockdowns? I know there were several $1-3 trillion packages. So I’m thinking $8 trillion or so. How many affordable housing units could be built for $8 trillion? If you could build them for $100k per unit, that would be enough money for 80 million units! Sad.
    1
  2533. Stalin redirected rivers that Fed the Aral Sea for agricultural products. Not surprisingly, there’s now no Aral Sea.
    1
  2534. 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.
    1
  2535. Nobody should be surprised that Hamas attacked their own civilians and IDF while the IDF was trying to moving these people out of harms way.
    1
  2536. Trump’s tax cuts doubled the annual per child tax credit to $2000. Biden’s stimulus package raised it to $3600 distributed monthly.
    1
  2537. It’s far past time for Israel to annex Gaza and clean up the trash.
    1
  2538. 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.
    1
  2539. Sad. How complicated were the seat beat releases? It seems they shouldn’t be overly complicated for a 11-15 year old to release in an emergency. But this is exactly why I’ll never ride a kayak that requires you to use your oars to tip back over.
    1
  2540. Government “solutions” always make the problem 100x worse.
    1
  2541. Exactly. There just aren’t enough non central bank buyers to absorb $3 trillion in mortgages without rates skyrocketing.
    1
  2542. What’s Cackles the border Tsar doing to fix the problem?
    1
  2543. How can any reversal of the Fed actions that created the bubbles NOT pop the bubbles in a dramatic fashion?
    1
  2544. I agree but interest rates place a key role in prices as 80% or more homes have mortgages.
    1
  2545. The problem is there’s currently WHITE swan events everywhere like debt, money printing, crime, wars AND food and other shortages. And ALL of this is just getting worse.
    1
  2546. Ayn Rand is spinning in her grave about these proposed wealth taxes. Reminds me of post revolution Dr. Zhivago.
    1
  2547. $6 billion to fix world hunger? And we just spent $1200 billion to supposedly fix our outdated roads and bridges…
    1
  2548. I’m always blown away that so many Jews are democrats. But there’s really two distinct groups of Jews. One group that methodically gets on train cars and enters “showers.” The other group fights back.
    1
  2549. Maybe all these fired government workers can learn to weld to help build the keystone pipeline and expansions in Alaska
    1
  2550. I wonder how many homeless camps in her own district Nancy has visited and pledged to support?
    1
  2551. Car prices are about to go up again. All I’ve seen over the last few weeks are burned out car shells.
    1
  2552. Insanity. Why is the US continuing to escalate this war? There is a huge risk of a mistake being made that leads to nuclear catastrophe.
    1
  2553. There’s a saying in football: “If you’re playing 2 QBs it just means you have zero QBs.” Same goes for dual citizenship.
    1
  2554.  @lurod2001  I agree 100%. It will happen and it will be ugly. And the tools the central banks used to bail us out of the last crisis are already fully implemented and losing their effect and causing inflation. I will say the one big difference between now and then is that instead of investment firms owning mortgages, it’s mostly central banks. And they don’t care if they lose money.
    1
  2555.  @treesnmoguls  True, but price and mortgage interest rate are the top two by far.
    1
  2556. 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.
    1
  2557.  @MHFIN  True but has the Fed ever used the money printer to buy $3 trillion in mortgages and $6 trillion in US debt in history - on top of manipulating interest rates to 0%? That has distorted the housing market on a biblical scale. A reversal to these policies will reverse the price increases it created. Only worse, because it will also cause a massive recession.
    1
  2558. Tulsi is the type of pragmatic moderate who could restore decency and normalcy to this country. Biden and Harris are an embarrassment.
    1
  2559. The US economy has been kept on life support with $2 trillion annual deficits for TWO decades. If that is ever rectified a massive recession/depression will ensue. We’re screwed.
    1
  2560. 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
  2561. 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.
    1
  2562. How can it not? We’re worse off than 2008. Double the Debt and the Fed has held rates they control at close to 0% since then and they have been buying mortgage securities!! Instead of Bear Sterns and Lehman going down it’s gonna be the dollar and the Fed!
    1
  2563.  @itmeng  Haha touché. But my point is the minds were all clustered together for best exchange and cooperation.
    1
  2564. I find it how odd it is that these abandoned war camps look so similar to the ubiquitous homeless camps spread all over America.
    1
  2565. Blah blah blah. The first world economies have been kept on life support with unsustainable massive deficits. The Ponzi scheme is gonna pop no matter who is president.
    1
  2566. @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.
    1
  2567. Lenin, Charles Manson, and Adam Schiff all have the same crazy eyes.
    1
  2568. Peter, when is somebody gonna call out Biden at a presser that current inflation is a HUGE tax on those making under $400k/year?
    1
  2569. Doocy: “how does increasing business costs help reduce price.” Biden Administration: “you are a stupid SOB. Oh, and racism, climate change and equity”
    1
  2570. There was a time in the 80s where it looked like every Harian
    1
  2571. Yellen has no morals. Inflation transitory, abortions are good for economic growth, no bailouts, etc etc. Grandma Yellen is satan reincarnate.
    1
  2572. So corrupt and disgusting. No wonder the Biden administration pivoted and decided to bail out uninsured deposits.
    1
  2573. Boom!
    1
  2574. Um, it’s not women’s bodies. The unborn child is its own entity with its own DNA. It is just using the woman’s body for nourishment until it can survive outside the womb. And that is happening earlier and earlier.
    1
  2575. @Mark Miwords He’s 10,000x more lucid, alert and sharp than Biden. And 5% of Kudlow is 1,000x smarter than 100% of Kamala and the rest of these low IQ zeroes in his administration.
    1
  2576. Moral to the story: don’t buy your business inputs from China if you want to survive. Stick to US dye makers.
    1
  2577. If Americans weren’t so mathematically illiterate they would be demanding a balanced budget and to pay down debt. Sadly, they won’t clue in until their pensions, Soc security, disability, and anything valued in dollars are worthless.
    1
  2578. Other animals kill other animals all the time. In fact, Non-humans rarely die of old age. They get old or suck or injured and get eaten. Humans are just better at mass extermination thanks to the creativity of our opposing thumb.
    1
  2579. Kashkari is a SJW nut job.
    1
  2580. And we wonder why Putin felt emboldened to invade Ukraine.
    1
  2581. Just wait till we get to pay for the “Marshall Plan” restoration of all the damage done to the country by the bombs we paid for with this $40B.
    1
  2582. I guess the silver lining of a nuclear war is that the shit hole coastal US cities will take the brunt of the attack.
    1
  2583. Seems to be going quite well in Eastern Ukraine
    1
  2584. It’s much worse than an entitlement, it’s a Ponzi scheme.
    1
  2585. I was watching an interview of ethnic Russians in the Donbas area asking them why they support being part of Russia instead of Ukraine. One guy yelled out “the west supports gay marriage!” Interesting. It wasn’t that many years ago that California banned gay marriage.
    1
  2586. She’s such a scumbag. The teaser interest rates won’t last forever and only exist due to Fed manipulation.
    1
  2587. 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.
    1
  2588. Republicans should have NEVER let the debt ceiling be lifted until the end of Biden’s presidency.
    1
  2589. Brandon is an embarrassment.
    1
  2590. This is playing out just like the hypothetical tit for tat in the movie nuclear war movie Threads. Except instead of Iran, it’s Ukraine. We’re playing with fire.
    1
  2591. Um, more folks “priced out” means less demand.
    1
  2592. This is so stupid. Why do schools wait till 5th or 6th grade to tell girls about their periods? Because until then it’s just not relevant or appropriate. Same thing with teaching this gender orientation garbage to K-3 children. It’s not relevant or appropriate!! Shame on Disney for caving to the woke mafia!!
    1
  2593.  @bcarss1970  Sure, why not. The parents are free to breach that or any subject whenever they feel it’s appropriate. The point is we don’t want schools formalizing it to K-3 children. School is tough enough. We don’t need filling these super young children’s heads with gender ambiguities.
    1
  2594. If Powell and Yellen weren’t such corrupt liars they could fix inflation immediately. Raise rates above inflation, unload the $9 trillion balance sheet, and demand a balanced federal budget.
    1
  2595.  @heidimills2226  Yea. People successfully go to drug treatment containment camps all the time. Plus, institutions for the mentally ill worked better than just having these people sleeping outside in filth and squalor.
    1
  2596. How is Facebook paying invoices based upon race and gender not sexist and racist? Sure glad I deleted Facebook long ago.
    1
  2597. Even if I had the dough, I wouldn’t touch homes in my area (Salem-Albany OR) for 1/2 the price. Homes that sold in 2015 for $250k are retailing for $550k today. And $250k was already too high.
    1
  2598. Is their possibly any uglier human being than Jayapal?
    1
  2599. El-Erian is right about the Fed getting in wrong in inflation. But do we really believe the Fed is/was that stupid? No! They purposely lied to buy themselves time. They won’t admit inflation because the tools they have to fix it would crush the economy, markets and make government insolvent.
    1
  2600. Starting to understand why the Saudis don’t bother taking a call from Brandon. FJB!
    1
  2601.  @gizmo7365  Thanks. I was thinking some of those high end hotel grounds Dan is visiting would give you the “bums rush” if you weren’t a guest, especially in California. But that’s cool if you can check out the scenery and amenities.
    1
  2602.  @gizmo7365  Good information! Thank you! Yeah I’m worried they might be cracking down. Dan finds such great places. Avoid the greens at pebble beach. Haha. :)
    1
  2603. This was predicted by Alexander Tytler centuries ago as the reason all democracies fail: the voters eventually realize they can vote largesse for themselves at the detriment of future prosperity. Game over man, game over.
    1
  2604. Davos is the polar opposite of Winston Churchill’s speech praising the spitfire pilots. Never have so few done so much harm.
    1
  2605. 10 year bond at 2.2% now. Six more rate hikes planned. I’ll be looking to see what home prices are when 10 year above 4%. That would portend 6-6.5% mortgage interest rates. I bet home prices will be 50% below today’s prices.
    1
  2606.  @ReventureConsulting  Without a world war or major recession, rates will be above 5% by July
    1
  2607. I trust Elon and people like Dan 1000x more than the corrupt media.
    1
  2608. Gordon is 100% right. EVs are a niche and soon voters will be demanding a repeal of anti-ICE mandates.
    1
  2609. Carter got the Israelis and the Arabs into peace talks. Biden can’t even get Russia to make nice with another former Soviet republic.
    1
  2610. Spot on!
    1
  2611. The ole “gas the troop transport truck right as your buddies are reaching at the tailgate trick.” Always good for a few laughs!
    1
  2612. If only the gay mafia would get rid of their pride.
    1
  2613. Here’s the caveat with any aid to Gaza. The average American - including our President and the vast majority of Democrats- don’t understand what fungible means. Fungible means ANYTHING that has value - even food and medical supplies - can be traded for anything else of value. As a case in point, when the Israelis gave Gaza pipes to expand their sewer system, Gaza used that metal to make bombs. And that food and medicine can easily be traded for cash or other weapons that will be used to kill Jews.
    1
  2614. 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.
    1
  2615. The Fed (and trillions in Covid spending) created the bubble with their 0% rates and $3 trillion of mortgage bond purchases.
    1
  2616. …and today Target shit the bed. These companies are temporarily eating expense increases which is killing their earnings. Just the opposite of the “price gouging” the Brandon administration is claiming.
    1
  2617. 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.
    1
  2618. On a positive note, 10 year yields up another 9 basis points today. Pretty soon these higher mortgage rates are going to crater home prices.
    1