They might even hold hearings on it….
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I’m sure that most readers are assuming that Sundance is taking a shot at the Democrats in Congress but I think he may have heard the same thing I did yesterday. Listening to Trey Gowdy (Decepticon, South Carolina-retired) on Fox News interviewing Elise Stephanik (Decepticon, New York). Gowdy basically asked what the Republicans are going to do if and when they take control of the House in November. Do you think her answer was:
A. Begin immediate impeachment procedures against Biden?
B. Demand prosecutions of every one of the Russiagate schemers?
C. Defund the FBI and CIA along with the Dept. of Ed. and the DOJ.
D. Hold hearings in the House of Representatives into Inflation (whatever that even means)?
I waited breathlessly to hear what the GOP-our representatives, our heroes- planned to take on as “Job 1” to save the country! Of course it turned out that the answer was D…in other words, not a g-d damned thing.
I think Sundance must have heard the same ridiculous “fiddling while Rome burned” exchange. Sickening.
Very glad to see that “Investigating UFO Sightings” or else that would have been their #1 Top Priority.
Whew!
We dodged a bullet there and/or an interstellar laser!!
A1. Begin immediate impeachment procedures against Myorkas?
Only because it is beginning to affect their stocks and their ability to grift off the tax payers who have nothing left after food and gasoline.
Well, they are holding prime time hearings on inflation now. It’s called the J6 hearings. Sarcasm intended.
If you think you have heard every excuse there is for inflation….you would be wrong.
Larry Summers says inflation is caused by Republicans who deny the Liz Cheney/Adam Schiff version of J6, or something.
*******
Larry Summers Blames Capitol ‘insurrection’ deniers for inflation
https://yournews.com/2022/06/13/2359087/larry-summers-blames-capitol-insurrection-deniers-for-inflation/
So glad you posted!
Absolute lunacy! Daft on purpose or is he really this stupid? Definitely not an economist.
😆 Larry Summers’ quack tweet:
“Told @DanaBashCNN
@CNN
today: The banana Republicans who are saying what happened on January 6 was nothing or it was ok are undermining our country’s institutions. That in turn feeds through for inflation because if you can’t trust the country’s government, why trust it’s money?”
____
So political opinions by decepticon toads in government cause inflation not shutting down oil production and destroying food processing plants and farms. Got it.
🎯 Bunch of bloody wankers!
I think the number of arsons is up to 24? 25? Sickening.
Same with the b.s. gun control bill.
Washington DC worried about Inflation ? Better late than never
Consider those who will be making the decision to “fight” inflation, their ideology, and their track record of “solving” problems.
The paradigm might shift from “better late than never” to “better never at all.”
They weren’t too worried about inflation when they were printing all that fake money.
I made a lasagna tonight. Ground Turkey, ground pork, two cans Plum tomatoes, ricotta, mozzarella, lasagna sheets, Parmesan. Had onions, celery, carrot, spices at home. Cost at Publix for ingredients was $53. But remember, inflation is transitory and a good thing because higher prices means bigger executive bonuses. Gas in Clearwater today is $4.69/gal at Costco.
If only we had a real president
The problem is deeper, much deeper. The heroes have not emerged yet. We have no one to guide us through this Fourth Turning. It either happens, of it does not happen. But as of now, there are very few that have the character of our Founding Fathers.
You guys. If I have an adjustable rate mortgage what should I do? I tried to post this question before and didn’t get an answer yet.
I don’t want to lose my home like the 2008 crisis. Any ideas?
Read your note on how and when your loan will start to adjust. 30 year fixed rates are in the 5’s now so you can try that or get a refi into a newer adjustable that will give you a longer fixed rate. Contact a reputable mortgage broker or good loan officer to give you the options. Once you get the options you will have to gauge your tolerance for risk. I always ask my clients if they like to go to Vegas If you do, then you are risk taker and that maybe that is the way to go. If you are scared or not a risk taker then do the fixed. If you are worried about the adj in rate for the next few years, then get the 30. Make the decision that will enable you to sleep at night.
Thanks so much! It’s stable for the next 3 years. Do you think something is going to happen soon? I am not a risk taker, would never ever ever go to Vegas for gambling. I literally don’t understand the concept of risk for no purpose let alone “fun.” I want to sleep at night.
So do you think there is going to be a big collapse really soon? What happened in 2008 that made so many lose homes?
Leading up to ’08, mortgages were being packaged into CMOs that hid the bad quality of the underlaying loans.
Consequently, people who had no business getting a loan, were getting them. These were called “liar loans”, meaning that if they put a mirror to your face and you could fog it by breathing on it you got the loan.
The banks and brokers didn’t care because they never planned on keeping the loans, they got paid for generating the loan, then the whole thing got packaged into CMOs and sold in Wall Street.
Real state agents and builders didn’t care because they were getting their cut.
Democrats politicians were happy because they keep saying that it was a “right” to own property.
So, the market got twisted in a very bad manner. Too many homes got built and sold to people who no equity whatsoever. The commercial market got clobbered with too much inventory from speculators who had little skin in the game ( We lost a very good investment that had taken 20 years to build, we couldn’t compete against the speculators. At least we didn’t owe anything when it was all said and done ) and were underselling their properties.
So, the real estate prices went skyhigh… it was free money. Just like a college education today.
The only ones that got hurt were the solid investors (us) and homeowners who had put their 20% down.
Eventually, the truth about the CMOs came out and the Ponzi Scheme came down and took the market, real estate and Wall Street with it. The Banks? They were “too big to fail” so they got bailed out, of course. The commercial speculators just declared BK and walked away, after destroying the business of bonafide investors.
Who won? The Wall Street conglomerates that walked in and bought reams of properties at a deep discount.
Don’t forget the banks like Goldman Sachs that created funds to short sell the bad loans they made. And no one went to jail.
“I am not a risk taker…” Your adjustable mortgage says otherwise.
Refinance… Quickly
“The War in Ukraine Marks the End of the American Century”:
“Every US dollar is a check written on an account that is overdrawn by 30 trillion dollars.”
https://www.unz.com/mwhitney/the-war-in-ukraine-marks-the-end-of-the-american-century/
Balloon payments. They left their keys in the mailbox.
Charlene: I’ll make it simple – get out of the ARM NOW so you don’t kill yourself for the next decade working to pay it each month, only to lose it. ARMs should have been outlawed. No one has the stomach – or a heart strong enough – for that level of risk.
I think home prices will flatten (they already have in my area) and then correct. Not sure how much. Not sure about a massive drop this time considering the banks did not go crazy with sub-primes and non-qualified home buyers. That’s just my prediction. However, the sheeple follow whatever the “news” tells them and we’ve never seen gas and food go up so fast. There are a lot of wild cards. When talking heads say prices will go up to infinity people panic buy, and if they tell them houses will crater to nothing they will panic sell. That’s the lesson I learned. The market always over corrects in both directions. The home market is still tight and not too many homes are being built on spec at a time, so I think home prices will remain stable till around maybe fall before we see signs of a drop. I’ve been in home building since I was a teenager and seen the cycle over and over but 2008 was the worst I had ever seen and it almost bankrupted me. I learned in my years of experience that the public will do whatever the talking heads tell them. So use that as your litmus test.
Let me ask you a simple question…. why did you get an adjustable rate when rates are low?
You could try to do a refi NOW. Rates might be in the 18% in two years. That’s what happened in ’81. It took a long time for rates to drop under 7%.
In two years, millions will be dead, millions more maimed, the economy will be in shreds, food will be rationed, Agendas 21 & 2030 will be racing onward, and Blackrock will have bought those properties in a fire sale, like they’re doing now.
Husband was in bankruptcy, he was told that was the best option. Evidently there is an 11% cap and refinancing will cost 4-$5,000. We aren’t exactly financially literate and husband has a hard head and can’t admit that. He wanted to wait until the credit was better 3 years from now. But he knows NOTHING of all the scary manipulation going on. Brain washing is real. I have TOLD him the things I have witnessed get faked but controlled opposition FOX news is successful, people. Many still think it’s a “conspiracy” that ALL this crap is clearly purposeful manipulation.
And that SOMETHING is going on. This is all being crashed on purpose for some reason.
Since your husband is in denial, Contact a financial advisor who can put the fear of God in him (best option would be a fee-only who would be willing to wave the fee since you’re tight on money – fee-onlys aren’t going to sell you products for commission – they give straight-up advice). Not a gentle-speaking one. Have him show you what each month would look like financially, getting tighter and tighter, like a vice grip. One wrong step or bad news (job loss) and it’s game over and you lose your equity. You’re playing against the house – and the house always wins. Praying it works out.
Charlene, you’ve got to endure his bad temper (or whatever) that he uses to get you off his case. The more he delays and kicks the can down the road, the more you’re walking, running, down a financial path that will ruin you. Look past the anger or ranting or insults, see it as fear, then tap into his fear to tell him there’s time to correct course, but he has to listen to a financial advisor.
Because Charlene got bad advice, which there is an abundance of in this country, and a dearth of financial literacy.
Go read your note carefully. Some notes have a max reset amount, and a max annual amount it can reset. To transition to fixed now probably means adding 4%. If capped at 2% per year, you still have a couple years extra to break even. Plus 2% in transaction costs. If you float in 3 years. Then a refi now costs 4% + 4% + 4% + 2%. So a 14 % cost to lock relative to leaving it float. Lastly, if rates go crazy, housing will crater as houses behave like a bond with rising rates causing price fall. So banks may be content to restructure rather than take the house and lock the loss. See if you can find out who owns your loan, as in a sheet show economy, it matters.
My dear.
Either get a fixed rate through your local credit union and hunker down, or maybe sell (depending on your local market) and then wait for home prices to fall. We’ve been to this rodeo before.
Where I live in L.A. County, once a homeowner sells and doesn’t buy another house soon after in the So Cal area, he/she probably won’t be able to afford to buy again unless there’s a housing bust.
I feel sorry for young adults who are house hunting around here. A modest 3 bedroom single family house is now selling for $800,000. and up.
concerned about inflation . . . mulling over inflation . . . what causes inflation . . . isn’t that what happens when you blow air
into a ballloon or a tire . . . do we need to stop inflating with bad air . . . is it the air itself . . . aha, climate change!
Seriously, “The Doctrine of the Lesser Magistrates” (which I found out about here and started reading last night) is a way through all of this insanity that has been foisted upon our beautiful country . . . reading about “interposition” where a person stands between those who would be destroyed and the destroyer and says, “No”.
Dear Jesus interposed Himself for us, that’s the ultimate example (the author didn’t say that, that example came to me this morning after starting the book last night . . . maybe he does delve into that as the supreme example later in the book.
must keep praying!
DC needs to be banned from ever holding “hearings”!!!
A picture is worth a thousand words. A Picture within a picture is priceless.
DC doesn’t care. They can print money for themselves. If the currency crashes they are still in charge. They win regardless. Remember the United States doesn’t have a nuclear arsenal, DC does. They already indicated a domestic strike was conceivable, and they positioned minuteman mobile launchers outside of DC after the stolen election as a flex against the states. DC is figuring to come out on top, regardless of economic calamity.
| All Of The Prices Have Gone Up (But We Can’t Pay That)” – Meat Loaf classic adapted by Marsh Family |
A+ effort!
O wow!!!! I am so glad to hear the gubmint is concerned. I can rest easy now….
Yep, while pressing the pedal to the metal.
Kyle Becker
@kylenabecker
Speaker Pelosi is guiltier than Donald Trump for anything that happened on January 6 and it doesn’t even matter how you spin it
2/. She knew, she didn’t know — the bottom line is there were plenty of (deliberately) ignored warning signs, a stand down order over ‘optics,’ undoubtedly FBI-penetrated extremist groups and an inexcusable lack of security around the Capitol building. Pelosi is GUILTY. Period.
9:17 PM · Jun 13, 2022
The worst thing that can happen is the government will try to fix what they broke!
Citizens beware.
