Joe Biden, who single-handedly exacerbated inflation with the continuation of the stimmie package, now wants a rate-cut to make sure inflation will never go away. What irony. I agree it's not the time yet to cut interest rates but as a homeowner with a hefty mortgage, I will be clamouring and praying for a rate cut just like the 90+% of the homeowners who have a hefty mortgage. This is why both parties are pressuring Powell for a rate cut. I would be pressuring him too even though I know it's not the right thing to do.
%% CME rate cut forecast 65% for June[SRN News usually reliable, have not double checked that] I'hve had a hefty RE loan but that was for acreage + home, paid it off, but still prayng for rate cuts/stocks/ETFs markets love them. Amazing Usa debt..............
No mortgage I chose to pay off my house one thing that I see happen all the time is Lifestyle creep. People make more and more money yet spend and borrow more and more, upsize etc.. and get stuck in the hamster wheel and never happy with what they have. Financial freedom and not worrying about the roof over your head is priceless. I want nothing to do with the bullshit rat race and having to deal with some sociopath boss that failed upward lording over you etc.. For example Boats, I prefer to charter a boat have my fun and get the satisfaction of just walking away and driving home without the worries of boat payments and maintenance headaches, cleaning and prepping after the trip etc… every minute that boat sits in your property is money wasted doing nothing There are a lot of folks to blame for this Inflation and its not just Joe Biden, ever sense we went into years and years of ZIRP and bank bailouts,corporate bailouts, wallstreet bailouts we kept kicking the can down the road and now the chickens have come to roost.
Not everybody is as lucky as you to have the windfall of cash available to pay off the mortgage. Nobody is stuck in the rat race because they enjoy it; everybody is stuck in the rat race because they don't have a choice. That's why I chose trading so at least like you said, I don't have to deal with unreasonable clients and sociopath bosses but trading, just like a corporate job is just another rat race... Joe Biden is the one to blame for the inflation because he is the President currently in office. The buck stops with him.
the windfall of cash was from hardwork/trading my own capital. I came from first gen immigrant family we were poor I remember the struggles my parents had to endure and we all had to chip in and work to put food on the table and keep a roof over our heads. I vowed to not have to endure this and figure out a way out. One thing that my parents always valued was education, reading, taking us to the library etc… I am not a fan of Biden but to say he is the reason is missing the whole picture, don’t let political breads and circuses blind you from to issues we are having. The US has been on the unfortunate decline for the last few decades and I see the downward trajectory continuing and at a faster rate as time goes on. Republicans and Democrats are two sides of the same coin.
Correct. OrangeMan gave out far more stimulus (tax cuts for the 1%ers, checks for the rest of us) than Biden one check and Chip Factory subsidies. Buck keeps getting passed. Everyone grips but no one really wants to make sacrifices.
%% SPY goes parabolic all time \ but I'm referring to the actual indicator, not sure if you were LOL NPR, try not to listen to them much but the business radio part comes in with clear signal; they did note a 30% + year gain , premarket......
salt to the wound, Intel spent billions upon billions in share buybacks and now Biden signs a bipartisan bill that is gonna hand them billions in welfare with the pinky promise that they wont use it for share buybacks. They will just use cash on the books that would have been used for capex to do more share buybacks and then use the free corporate welfare money for the capex. Total shell game on the backs of the taxpayer one big confidence trick. Notice also how fast Republicans and Democrats worked together and quickly put the bill forward for Biden to sign. Happened fast with little media coverage. Don’t expect to hear about the CHIPs act and any followup on the whole thing by the MSM More privatizing gains and socializing the loss/costs. when Republicans and Democrats all of a sudden are best buddies and quickly push a bill off a sudden get ready to get another reaming with no lube or even the courtesy of a reacharound.
Everybody comes from first generation immigrant family LOL unless you are a member of the native Indians. And everybody struggled. That's a given. Still not everybody is as lucky as you to have the windfall of cash available to pay off the mortgage. That's all I am saying.
All of this is just the end result of giving bailouts to preferred classes of people aka the Banking class. Once the bailouts begin they never end until everyone is bailed out. First the Bankers & Auto companies, then Airlines with no savings to continue in a downturn, small businesses, etc. The truth is there has to be losses in a Capitalist system. You need a reset especially from idiots who can't manage risk like the whole banking sector -- Masters of The Universe indeed. If you can't manage risk then why are you running trillion dollar companies? The same goes for the Airline industry who can't wait to pay CEOs ungodly amounts of money but have less savings than the average person for a rainy day. And then there is that loser Greenspan who admitted he was wrong about humans policing themselves when it came to greed. Yellen & Bernanke are the same. When your leaders are idiots it always trickles down to the populace. Moral Hazard has arrived.