B-Man Posted May 24, 2022 Share Posted May 24, 2022 1 Link to comment Share on other sites More sharing options...
Doc Posted May 25, 2022 Share Posted May 25, 2022 Still all Trump's and Putin's fault. 1 Link to comment Share on other sites More sharing options...
Gene Frenkle Posted May 25, 2022 Share Posted May 25, 2022 (edited) Well, the Fed is responsible for controlling inflation, and they've been busy printing money instead of raising interest rates and trying to curb runaway inflation. Gotta keep that bull market running! This is a problem years and years in the making, preceding Biden, Trump, and maybe even Obama. In the end, this is Wall Street's mess, no matter what you're fed. Interestingly, Jerome Powell, the current chair of the Fed, was appointed to that position (along with his printing press) by Prez Donald Trump in 2018, prior to Sleepy Joe's drama-filled election win. I'm not saying Biden has done a good job with this, more like this was inevitable. Gonna get a lot worse too. Edited May 25, 2022 by Gene Frenkle Link to comment Share on other sites More sharing options...
B-Man Posted June 1, 2022 Share Posted June 1, 2022 2 Link to comment Share on other sites More sharing options...
B-Man Posted June 1, 2022 Share Posted June 1, 2022 BIDEN DID THAT: 25% of Americans are delaying retirement due to inflation, survey finds. “Many people in or near retirement may not have considered this surge in prices in their financial plans, which has thrown off budgets and timelines as well.” https://www.cnbc.com/2022/05/31/25percent-of-americans-are-delaying-retirement-due-to-inflation.html Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted June 2, 2022 Share Posted June 2, 2022 6 hours ago, B-Man said: BIDEN DID THAT: 25% of Americans are delaying retirement due to inflation, survey finds. “Many people in or near retirement may not have considered this surge in prices in their financial plans, which has thrown off budgets and timelines as well.” https://www.cnbc.com/2022/05/31/25percent-of-americans-are-delaying-retirement-due-to-inflation.html Figured this was coming next. Those already retired on fixed incomes are getting killed by bidenomics. And of course most those invested in equities for retirement just took a massive hit that will delay retirement plus the inflation hit which will compound the delay. Link to comment Share on other sites More sharing options...
Tenhigh Posted June 2, 2022 Share Posted June 2, 2022 On 5/25/2022 at 3:50 AM, Gene Frenkle said: Well, the Fed is responsible for controlling inflation, and they've been busy printing money instead of raising interest rates and trying to curb runaway inflation. Gotta keep that bull market running! This is a problem years and years in the making, preceding Biden, Trump, and maybe even Obama. In the end, this is Wall Street's mess, no matter what you're fed. Interestingly, Jerome Powell, the current chair of the Fed, was appointed to that position (along with his printing press) by Prez Donald Trump in 2018, prior to Sleepy Joe's drama-filled election win. I'm not saying Biden has done a good job with this, more like this was inevitable. Gonna get a lot worse too. Just like 08 was all Wall Street's fault too, right? Link to comment Share on other sites More sharing options...
ALF Posted June 2, 2022 Share Posted June 2, 2022 10 minutes ago, Tenhigh said: Just like 08 was all Wall Street's fault too, right? Collateralized mortgage obligation , nah. The banks failure to access the value of each home before giving a mortgage was huge. Link to comment Share on other sites More sharing options...
SoCal Deek Posted June 2, 2022 Share Posted June 2, 2022 2 minutes ago, ALF said: Collateralized mortgage obligation , nah. The banks failure to access the value of each home before giving a mortgage was huge. We can reconstruct that disaster but I understood it as the loosening of the financial wherewithal requirements for people to purchase homes, after which those sketchy loans were bundled, sold and resold until the music stopped and unknowing lenders/investors were left holding the hot potatoes. 1 Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 2, 2022 Share Posted June 2, 2022 (edited) 11 minutes ago, SoCal Deek said: We can reconstruct that disaster but I understood it as the loosening of the financial wherewithal requirements for people to purchase homes, after which those sketchy loans were bundled, sold and resold until the music stopped and unknowing lenders/investors were left holding the hot potatoes. I would add to this, the credit rating agencies knowingly attaching "A" ratings to mortgage bundles they knew were garbage. Which allowed Wall Street to peddle these investments as "safe" to both funds and individual investors. On top of it all for one reason or another, firms like AIG which provided insurance against loss on these bundles didn't have the "reserves" and capital on their books to pay off when lenders came calling. All in all a classic example of systemic fraud generated by a delusional policy to expand home ownership to unqualified buyers. Edited June 2, 2022 by All_Pro_Bills 2 Link to comment Share on other sites More sharing options...
Steve O Posted June 2, 2022 Share Posted June 2, 2022 6 hours ago, Over 29 years of fanhood said: Figured this was coming next. Those already retired on fixed incomes are getting killed by bidenomics. And of course most those invested in equities for retirement just took a massive hit that will delay retirement plus the inflation hit which will compound the delay. Not disputing the post, actually agree with it. Just wondering why fixed incomes are always associated only with retired folks. When working I didn't get to tell the boss that Christmas was right around the corner, need to get an extra couple thousand this month. I can actually withdraw from my rainy day fund without penalty (aka roth & to an extent traditional ira) when a few extra bucks are needed now. Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 2, 2022 Share Posted June 2, 2022 8 minutes ago, Steve O said: Not disputing the post, actually agree with it. Just wondering why fixed incomes are always associated only with retired folks. When working I didn't get to tell the boss that Christmas was right around the corner, need to get an extra couple thousand this month. I can actually withdraw from my rainy day fund without penalty (aka roth & to an extent traditional ira) when a few extra bucks are needed now. It sounds like you did some rational and sound planning so you seem to be in relatively good shape. The majority of Americans don't have an emergency fund or financial plan that can cover an unexpected $500 expense. Link to comment Share on other sites More sharing options...
Tiberius Posted June 2, 2022 Share Posted June 2, 2022 Excellent A new report has found that rising fuel prices caused by the war in Ukraine have helped speed up the move toward renewable energy in some E.U. nations. Link to comment Share on other sites More sharing options...
Steve O Posted June 2, 2022 Share Posted June 2, 2022 1 hour ago, All_Pro_Bills said: It sounds like you did some rational and sound planning so you seem to be in relatively good shape. The majority of Americans don't have an emergency fund or financial plan that can cover an unexpected $500 expense. I like this...Rational and sound planning sounds a lot better than only so much even I could piss away so figured putting it in the retirement plan was as good a place as any for what was left over🙂 Link to comment Share on other sites More sharing options...
Precision Posted June 2, 2022 Share Posted June 2, 2022 (edited) 9 hours ago, Tiberius said: Excellent A new report has found that rising fuel prices caused by the war in Ukraine have helped speed up the move toward renewable energy in some E.U. nations. Hundreds died in '21 when power went out in Texas. Europe will be in much worse shape this winter as they will be rationing natural gas that's used for power generation and heat. I don't see anything "Excellent" about that. Former Obama energy adviser Jason Bordoff and Harvard University professor Meghan O'Sullivan wrote a piece in the Economist in late March warning that the world was on the cusp of "what may become the worst energy crisis since the 1970s." The world may be careening toward a 1970s-style energy crisis -- or worse Edited June 2, 2022 by Precision 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted June 2, 2022 Share Posted June 2, 2022 Death by Lockdowns Big Corporations won. No one is buying small business. The game is rigged against you. You can't succeed in this environment. It is almost impossible. Small Businesses Getting Crushed, ADP Jobs Report Shows Businesses with fewer than 50 employees lost 91,000 workers last month, the May ADP National Employment Report said. Medium-sized business, defined as having more than 50 and less than 500 employees, added 97,0000 jobs. The headcount at larger businesses jumped by 122,000 jobs. As a whole, private sector payrolls rose by 128,000. That was far less than the gain of 299,000 expected. https://www.breitbart.com/economy/2022/06/02/small-businesses-getting-crushed-adp-jobs-report-shows/ 3 Link to comment Share on other sites More sharing options...
B-Man Posted June 7, 2022 Share Posted June 7, 2022 Link to comment Share on other sites More sharing options...
Big Blitz Posted June 10, 2022 Share Posted June 10, 2022 (edited) January 6th!!!!! Rents across U.S. rise above $2,000 a month for the first time ever ....Drotar's a single mom with a daughter in 5th grade. She's been trying to find a house she can afford to buy. "I just want some place where she can ride her bike and make friends with the neighbors and play with the kids and they can come over." But she keeps getting outbid when she makes offers. And now with mortgage rates up sharply she says she's just been priced out completely. Meanwhile, continuing to rent is getting harder to afford, too. https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever Economy is headed for complete collapse. Edited June 10, 2022 by Big Blitz Link to comment Share on other sites More sharing options...
Irv Posted June 10, 2022 Share Posted June 10, 2022 What a mess. Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 10, 2022 Share Posted June 10, 2022 All of this morning's data reported for May CPI figures, YOY, monthly, core and non-core measures above estimates. Link to comment Share on other sites More sharing options...
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