https://www.wsj.com/livecoverage/federal...e-may-2022

Feds finally move on raising interest rates as they see no sign of inflation slowing.

A little off topic but didn't Sloe tell us he is working hard to lower gas prices? All I see is them continuing to going up. 4.19 at the closest gas station to me yesterday.

Unfortunately Gas prices most likely hit $5 a gallon this year and remain high for the in foreseeable future due to the number of mind blowing ignorant acts of this administration. Destruction of the middle class must be job 1 of the Dems.

I expect another interest hike by July. They waited too long to stop the Recession. Most likely political as well.

Diesel fuel is up over $2.00/gallon from the same time last year. That is what kills.

(05-05-2022 07:39 AM)BlueDragon Wrote:  Unfortunately Gas prices most likely hit $5 a gallon this year and remain high for the in foreseeable future due to the number of mind blowing ignorant acts of this administration. Destruction of the middle class must be job 1 of the Dems.

I expect another interest hike by July. They waited too long to stop the Recession. Most likely political as well.

No need to expect, the Fed's already said there may be up to 7 rate hikes.

(05-05-2022 06:49 AM)TigerBlue4Ever Wrote:  A little off topic but didn't Sloe tell us he is working hard to lower gas prices? All I see is them continuing to going up. 4.19 at the closest gas station to me yesterday.

He has Kamala working on it...

Jimmy Carter is even amazed at how effectively this clown has screwed up the entire market to consumer chain.

(05-05-2022 07:39 AM)BlueDragon Wrote:  Unfortunately Gas prices most likely hit $5 a gallon this year and remain high for the in foreseeable future due to the number of mind blowing ignorant acts of this administration. Destruction of the middle class must be job 1 of the Dems.

I expect another interest hike by July. They waited too long to stop the Recession. Most likely political as well.

#transitory
#notsurging
#pourgasonfire

Hurts the poor the most.

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

when the bottom falls out, and it will, they're going to fully understand cannibalism....

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

Disagree with worthless. It will kill the housing market but they will be going more around their actual value. Someone will be looking to buy them up and rent them out at minimum.

(05-05-2022 09:33 AM)natibeast2.0 Wrote:  

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

Disagree with worthless. It will kill the housing market but they will be going more around their actual value. Someone will be looking to buy them up and rent them out at minimum.

look at it from this perspective ... if the USD slopes to a level of negative return - which is where it's headed - PLUS the inability to maintain what currently exists (roads/water/food/etc), who is going to do 'what'?!

the collapse is coming ... I suggest preparing yourself for something most are ill-equipped to handle...

@buhByeBirdieBoomers

(05-05-2022 09:33 AM)natibeast2.0 Wrote:  

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

Disagree with worthless. It will kill the housing market but they will be going more around their actual value. Someone will be looking to buy them up and rent them out at minimum.

Ok, maybe "worthless" was the wrong wording, but houses now going in that range will likely be going more in the $150k - $400k range. So if your house is paid off or you still have some equity after the reset, I suppose your property won't be "worthless"... but there will be a large percentage that will indeed have negative net worth.

(05-05-2022 09:42 AM)EverRespect Wrote:  

(05-05-2022 09:33 AM)natibeast2.0 Wrote:  

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

Disagree with worthless. It will kill the housing market but they will be going more around their actual value. Someone will be looking to buy them up and rent them out at minimum.

Ok, maybe "worthless" was the wrong wording, but houses now going in that range will likely be going more in the $150k - $400k range. So if your house is paid off or you still have some equity after the reset, I suppose your property won't be "worthless"... but there will be a large percentage that will indeed have negative net worth.

Houses will be a steal because you will no longer be able to build them for those prices. Much Like own which was built for $289K no way someone could build it for that amount even after the Recession.

(05-05-2022 09:33 AM)natibeast2.0 Wrote:  

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

Disagree with worthless. It will kill the housing market but they will be going more around their actual value. Someone will be looking to buy them up and rent them out at minimum.

Rents are currently higher than mortgage payments. Rent prices NEVER go down. If housing values decrease it will make even less sense to rent over buying. There is going to be a bottle neck of vacant homes and apartment units in coming years and there is currently a ton of new construction coming out of the ground. This will be worse than 2008-2012.

(05-05-2022 10:02 AM)Eagleaidaholic Wrote:  

(05-05-2022 09:33 AM)natibeast2.0 Wrote:  

(05-05-2022 09:07 AM)EverRespect Wrote:  

(05-05-2022 08:57 AM)Eagleaidaholic Wrote:  

(05-05-2022 08:45 AM)Bronco14 Wrote:  Hurts the poor the most.

And makes them more needy on government. That has always been the plan. Cause a problem, then come in with the white horse and save the day by giving pshit away and saying the evil successful citizens aren't paying "their fair share".

For 2 years, the "poor" was middle class with the government giving out "free" cash. Let's be honest, there weren't really many "poor" people during the pandemic. Now that money has dried up and inflation hits at the same time.

This is going to just keep getting uglier.

Now the working (blue collar) class and lower level professional middle class (corporate non-management level employees with degrees) are going to be scrapping paycheck to paycheck just survive and the poor is going to become a total welfare state. Not sure what will become of the upper-middle class. My guess is those that can hold onto that will be fine, but it will substantially shrink in number, making all the $300k-$700k houses that have been selling like hotcakes for 2 years utterly worthless.

Disagree with worthless. It will kill the housing market but they will be going more around their actual value. Someone will be looking to buy them up and rent them out at minimum.

Rents are currently higher than mortgage payments. Rent prices NEVER go down. If housing values decrease it will make even less sense to rent over buying. There is going to be a bottle neck of vacant homes and apartment units in coming years and there is currently a ton of new construction coming out of the ground. This will be worse than 2008-2012.

Yep, this is going to be one of the worst Recessions the US have ever went through. And all because Politicians were power hungry and care NOT about Americans.

My issue is that we should have been raising the interest rates years ago. Neither party truly understands things, but the economy was admittedly going great during the Trump years and he pushed to keep the interest rates artificially low which gave us no room to work should we hit a recession. Now we have all this stimulus spending from both parties and the war causing significant inflation so we have to raise interest rates, while at the same time staring a recession in the face.

(05-05-2022 10:09 AM)mlb Wrote:  My issue is that we should have been raising the interest rates years ago. Neither party truly understands things, but the economy was admittedly going great during the Trump years and he pushed to keep the interest rates artificially low which gave us no room to work should we hit a recession. Now we have all this stimulus spending from both parties and the war causing significant inflation so we have to raise interest rates, while at the same time staring a recession in the face.

The fed raised rates under Trump to levels that were not seen since prior to Obama. Trump correctly kept the pressure on the feds to keep rates low, because they were jumping at every indicator to raise rates and that could have stifled the economy. In the end, inflation was kept in check, and the economy was on a heater. So the rates under Trump were appropriate.

When Covid hit, they lowered the rates all the way down. Then the fed shoved their heads up their asses and did nothing for 18 months after the election, even though the economy was clearly on a heater prior to the election, and the Biden* was spending trillions on people not to work. And even after that, the feds kept their heads up their asses. The inflation took off, but from the echo chamber of their large intestine we heard something that sounded like "transitory". Then inflation kept going up.....and up....and up.......and then we get a quarter where we have a drop in gdp and are entering a recession and then the fed pulls their heads out of their asses and start raising rates, which will shove us into a recession/depression.

What the fed did under Biden* in no way matched what they did under Trump. Under Trump, they literally micro-analyzed every indicator to say they probably needed another rate hike. Under Biden* they did jack diddly sh*t. Had the rates been back to Trump levels in Q1 of 2021, and had the fed acted sooner, and had the idiot may Pete Buttjig not be so incompetant, and had Biden* not been a dumb*** on energy, all of this could have been avoided.