Yes, but that will also force a housing correction which is also desperately needed. Home prices are at their highest point in history, BY FAR. In 2020 the average new house payment was $1200. Today it's $2450. More than a 100% increase in 2 years. A family making the median salary can't afford to buy a home in the top 200 American cities right now. That's entirely unsustainable.
This is the mess that's created when government spends exorbitant amounts of money and central bankers manipulate the economy. This was all very predictable, and very avoidable.
Of course it was, notice that one possible outcome here is that the government takes over banking, which will make it pretty easy for them to close your bank account and to prevent people from owning property in general.
I have a different take on the housing crap. Every new and old house in the city near where Iive is getting filled with illegals where the government is picking up the tab and buying them the houses via entitlement payments. Entire new subdivisions are nothing but illegals in every single house. These fuckers are getting thousands of dollars ~each~ a month free and clear in addition to the ebt and health care and free education and it was all authorized in the various 'covid' bills they borrowed trillions for. Rand Paul even pointed it out the last pork bill. They are robbing our children blind via unrestricted borrowing to ensure they get their tens of millions of illegals so solidly entrenched they can never be expelled.
That combined with the fact that the economy was shut down for years, and the supply chain is still in chaos. As of a few months ago a family friend who is a contractor says most of the materials to build houses are over double what they were a few years ago, at least in his area.
The illegals raised the demand a bunch and the supply chain issues have lowered the supply a bunch.
Exactly. The illegals don't care because the money just shows up in their accounts via direct deposit so cost is irrelevant to them. Its fucking infuriating when you see what the biden admin and corrupt congress are doing to us. This is open warfare via population replacement which is of course illegal via both our own and international law but since they don't care about the law they just do it and wait with crossed arms as we do nothing to stop them. Sooner or later its going to reach the boiling point and thats when the real troubles start. Because once this shit goes hot its not going to stop until one side or the other wins unconditionally.
They don't work or could come close to matching the government income if they did so all thats really needed is to cut off the flow of money into their pockets and they will go back willingly. Most don't understand these are not starving or oppressed people they are well taken care of in their own nations for the most part with welfare and such since its mostly commie areas they are coming from. But the money is a lot better here so they come by the millions. Look at a typical picture or video of the stream crossing over. Well fed well dressed and everyone has a smart phone and 99.99% of them don't qualify for asylum let alone legal immigration. Its a fucking scam.
A lot of that 100% increase is from interest rate going up like 5%. Home prices coming down won't matter if the interest rate is increasing still
300k house 20% down at 2.25% 30yrs = 917 payment ($450 interest)
300k house 20% down at 7.25% 30yrs = 1637 payment, of which $1400 is interest only and doesn't dip below 1400 until year 4
I don't think it's the fact that nobody wants to live there, I think it's more the fact that it goes to show that housing prices everywhere are way too high if not one of the top 200 cities is affordable.
I met some of them and asked them. They said they like being around all the people and hopping from bar to club to venue then going to bed and restarting.
Think about that. The places where we all keep our cash to protect it, doesn’t have any cash on hand available for internal operations.
Why?
Because the big banks give that cash to cartels to grow and launder it.
If they were just making “bad investments,” which purportedly fail, there would be large-scale assets for the banks to repo to remain solvent. There aren’t. (Look at FTX for proof. Not a bank, but similar operation.)
The banks are nothing more than storefronts for criminal organizations.
This is an interesting point about the language they're using, I don't know enough about the bank's inner workings and situations to really be confident if they're straight up laundering the money but it's definitely very sketchy looking.
banks don't keep the money in cash or even with 2% inflation they would lose money (not to mention operating costs.).
They lend out some of their deposits, while some are used to buy treasuries and the remainder is left in reserve. (there are regulations how much can be allocated to each).
Loans and to a lesser extent treasuries can not be sold that quickly, so if there is a run on just about any bank, the banks is in deep shit.
The next shoe to drop is that banks will stop lending money and start closing existing lines of credit to preserve cash.
This is just the culmination of the 2008 crisis after 15 years of kicking the can down the road with artificially low interest rates. Those of us following it have known since Obama’s first term that this was coming.
I got fucked in 01 (I was just getting my career started), and then set back to zero in 08 and again in 12 (that one was on me from a divorce). Needless to say all of my planning had been about this balance coming due since before my first child was born. Still pretty damn nervousz
And before we fight a war over this we're all going to face increased prices and hardships. Not a single leader figure out there wants to do that and the people willing to are called glowies because they're "literally whos". Doing anything outside of a large group will just land you in prison or dead while nobody knows what even occurred.
This is the proper reply. I get the sentiment, but people who think they and everyone else are going to barter for shit like it's the year 1142 need to get their heads out of their asses.
The only way we truly go back to a real bartering system is with a society wide collapse of everything in which the ONLY important things left are shelter, food, water.
And we don't get there without untold fucking amounts of human suffering and massive death.
Once we do, though, if you're one of the lucky survivors, then good luck with it I guess?
Until then, you're not going to be bartering jack shit with your 12 bottle of vodka you've got stored in your "bunker".
The thing is, everybody wants to have an answer for this shit, everybody wants to be the one with a solution. But some situations are so fucked they don't have a solution.
This is one of those situations.
We're just going to all fucking burn together as this country spirals out.
I would say, before learning to barter, you should learn to shoot.
The common goal is to get the economy rolling so we can all have our needs and desires met in a healthy work/spend economy. I can tell you some points that will really help understand this:
All money systems stem from a system called Babylonian Money Magic. Money is a system used by slaves and it has many pitfalls such as the easy ability of the money creators (bankers) to scam us or Gov to tax us. Nevertheless, we can just jump off the money system suddenly so we have to just upgrade our way to higher ground one day at a time.
Economy struggles when People don't have money to buy and then stores don't make money. If People have money to buy, the money goes round and round. I buy your tables, you buy my car parts, ect... The deep state intentionally lowers the money supply so People suffer so bartering expands the supply. A homeless guy can wash dishes for an hour in exchange for a meal for example. I can even trade a bag of weed with some store in exchange for their merchandise. I suspect organic veggies will be a good money supply one day. Gold/Silver are always good because they can be used for many applications like electronics, medicine, jewelry, ect... Fiat cash paper can't. Digital is even worst because it is dependent on the electric grid controlled by the deep state.
All that money People deposit into banks was used to expand their Corporations and so giving up your money to them is a bad idea in the long run. It is better to invest in a good safe and keep only a small amount in the bank if you have to.
Free Market Enterprise is the best form of commerce atm. This means People can sell anything anywhere as long as they don't block entire sidewalks or violate private property Rights. No business license needed.
Taxes are a huge strain on the economy and should be cut off immediately without excuses of being afraid of Uncle Sam. All Patriots in history took risk to save the Country. This is our risk. Inflation is a hidden tax also but that can be cut out through barter of gold/silver, goods & services more or less. It's just too easy to make digital or paper money and cause inflation.
The economic system is so rigged by Bankers that the only way to win is to not play their game. We must run our own game. Btw, the word gangster originates from the word bankster.
We have to step up our game now. I don't want to go through another 8 years of Great Depression economic turmoil and neither do 99.9% of People. We have to make bold moves and try new things or else nothing will ever change.
Bartering works when there is no existing financial system. Since we already have one, bartering isn't a viable option. As someone else said, you can't barter your landlord for Rent, or utility companies for your electricity, gas, internet, etc. Bartering only works for physical small goods and services. Additionally bartering only works when specific things are in demand. You can't always trade a basket of potatoes (or whatever you may have) for a plumber to fix your kitchen sink, and no one is going to spend time bartering for something from someone else that your plumber is going to want/need in exchange to fix your sink.
While bartering is an ideal situation, unless you live in some kind of small town/commune, we are far too ahead in society for it to actually work on a large scale.
You can trade your skilled labor for many things. Paint your rental, or preform maintenance on it instead of paying a month's rent in cash. Barter your skills, and labor for the services you need. Dentist, and mechanics need carpenters, and landscapers.
Depends on the landlord. Mine paid for materials, and I remodeled the master bath. Demo, tile, and paint. It needed to be done, and took a couple days. I did not pay rent for a month. It was a good deal for me, and them. I used this as a example. They would have just hired illegals at a high price for a shitty job. The bonus was not having strangers in my house for a week.
Yes but bartering for goods and services bypasses the money problem. If People don't have money, they can barter. Also, less scams in barter (ie no taxes paid on them).
Since bartering is considered legal trading in the U.S., the Internal Revenue Service (IRS) treats goods and services gained as taxable income. So, the receivers of bartering income may be required to make estimated tax payments.
But Democrats, who largely support the Dodd-Frank reforms, helped to get the bank regulation bill through Congress. Seventeen Democratic senators voted for the bill, while 33 House Democrats supported it.
“When the president signs this, we put community banks back in the mortgage lending business, which is really exciting for me,” Sen. Heidi Heitkamp, D-N.D., told CNBC on Wednesday.
I look forward to the banks collapsing and writing off my house and millions of others so all of us hard working people finally get the millions we’ve paid in taxes back somehow.
I'm pretty much an idiot when it comes to this stuff. How is it that housing will collapse yet someone in your position, whatever that is, would be able to scoop up the cheap real estate?
Have money saved up and be ready for the collapse. Sell you home at the peak, any time in the prior year till today, and then take that money and buy real estate when it collapses. Military Service gives you free VA Home loans, so you don't have to rent and you get a kick back every month to you as principal as well.
My own two cents are everyone should have been buying 100 oz of silver yearly for the last decade. By the time this is said and done, a 1,000 oz of silver will buy you 10 acres to farm in 3-5 years.
nah, rather not live in traitor states. The traitor state Michigan used elections schenanigans to remove the Republican legislature and they are done. They are getting ready to remove gun rights from a State known for its hunting. If they are smart, the residents should start looking at seceding from Michigan and joining Indiana like the Greater Idaho project.
Now the FED cannot fight the inflation with interest rate hikes so the housing prices should rise as the cost of mortgages go down.
Your house and real estate value are literally the only tangible thing with value left in the American economy. 99.9% of everything else is smoke and mirrors.
Almost everything we think has value anymore is backed by mountains and mountains of debt on the other end.
The entire US and world economy is a house of cards. Bureaucrats and regulators have run amok and are essentially holding the house of cards together with duct tape and dental floss since at least the COVID crash....probably way before that though.
At some point it will be too many holes in the dam to plug and it will all come crashing down. It's going to be like nothing we have ever seen before. This could make the Great Depression look like a vacation. Think about how many peoples' jobs depend on technology companies and banking and that sort of shit.
A depression is what we were looking at during COVID. The measures the government has taken since then....unlimited printing of money coupled with terrible monetary policy and virtually no serious regulations on investment banks and hedge funds have created something different we're going to need a different word for this. It will be close to a total economic collapse. If you're scared you should be.
Considering getting a talk together with the Gf and taking what we have; 100% of my cash savings and paying off the house so we OWN that. Its within reach. She will have to put in about twice what I have though, because I just dropped 22k on paying off my 2020 Ranger. The house was next but I may have ran out of time. I CAN double what I have by selling some assets now which does get me in the ballpark; she'd only have to put in half of what I'd have then and we'd own it.
Her job isnt going anywhere and mine isnt either, unless the whole company goes down. We should be fine but Im looking at complete doomsday scenario where we HAVE to pay it off NOW because the dollar will be worthless if we wait too long. I guess that debt doesnt go away or change dollar amounts no matter how high inflation goes; we've been riding that wave and our mortgage is only 430$/mo. With inflation our wages skyrocketed but the mortgage stays the same...but what happens if it all crashes down and the dollar is worthless?
If you think the dollar will go through hyper inflation, then paying your debt is STUPID. If you think $100 won't buy a hot dog, why not wait until then? Then you can pay off your house with a few hundred hamburgers.
Precious metals are only kind of valuable. Almost all of their modern value is inflated and fake. Especially silver. A huge chunk of what's left is because of their industrial applications.
If shit hits the fan you will not get far trying to barter your Morgan Dollar for food or clean water. Metals are valuable because they're useful. They may not be as useful in the future when the barter economy will be necessary.
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." ~John Maynard Keynes, 1919
As interest rates go up, the ability to take out a loan goes down, which forces home prices to decline. I did analysis on home prices from 72 to 2022 and that played through. Homes adjusted for inflation, the cost went down for new construction. The builders had to build smaller and more affordable homes to sell them. So hopefully we won't keep seeing these god damn mega homes.
Builders need to get back to quality over quantity. The illegal labor force stands in the way of quality starter homes. Responsible companies should school their clients into a reasonable transaction instead of upselling out of greed, and laziness. When you figure in engineered obsolescence, and poor quality products that do not stand the test of time like they once did true inflation is much higher. Many new homes need major repairs within a few years of construction because the were not built correctly. In Texas the builder is only required to warranty a house for one year so they cut corners for profit.
They are blaming the elimination of DFAST (Dodd Frank Act Stress Testing) by the Trump administration for the collapse. This is generally believed by the mouth breathing, MSN watching retards. I work in bank stress testing (CCAR) and I can tell you that this collapse had nothing to do with DFAST. In both DFAST and CCAR, the Fed didn't give a fuck about and ignored liquidity risk. Turns out, poorly run banks tend to crash and burn. Who would have guessed???
When a liberal friend or family member brings this point up, just tell them they have no clue what they are talking about. CCAR made DFAST redundant. You are testing the same shit twice, but CCAR is more through. However, neither stress test really included any stress scenario involving liquidity, so they could have had 100 stress tests and it wouldn't have mattered if they didn't include a liquidity risk scenario.
Yes, u/BelichickBradyTrump, please do make a thread about this. The Left is trying desperately to blame all of it on Trump and DFAST. Anything you can explain to the layman will really help.
Anyone who can provide simple explanations about the current banking mess, for us poor slobs who work in other fields - that would be greatly appreciated.
I've also told people to watch Wall Street and The Smartest Guys in the Room (Enron scandal doco) to see how much these outfits really do screw around with money.
I say they are cash staved because they loaned 10s of billions of dollars to SVB, silvergate, signature, first republic, and more. All the bank who just closed or fell tanked today
In about 90 days, all the people on TV that have been saying we're near a bottom will be preaching how the writing has been on the wall since 2021 with fed rates too low, money printing, raising rates too fast, and the Fed overnight lending being through the roof....fuck them. They are part of the problem. We all saw the problems and were told to shutup and buy the dips. Probably while they exiting their long positions.
Just talked to my banker. Shit is about to go down. Could be as bad as 2008 or worse. A few more banks are about to go. UMB was mentioned as one. If you have over $250k in there, get it the fuck out. Hell, all of it!
It's not about exchange valuation. It's about the US dollar being used as primary financial backing system. Significantly more countries have started to move away or have made first steps to reduce their reliance for crude on US dollars. Among them are India, China, Russia, Saudi Arabia; e.g. rubbles, yuan are already have been used recently.
I hear you dude. however the US will only be using $US for trading purposes and since we are the largest homogeneous market on the planet, things could get a little sticky. in addition, we will be a net energy exporter and will require $US.
This stinks so badly of a fire sale that benefits the global elite.. If they swoop in and consume hundreds of failed banks they will in effect own a huge chunk of the USA..
FDIC only has $124.5 Billion on its balance sheet and a $100 Billion line of credit. US banking system is +$22 Trillion. FDIC assets cover only 1.26% of deposits.
All my banking is done with one very small local bank, I have no money in the stock market or anything and my only debt is my small mortgage. Should I be concerned, pedes?
We’re going to have to print a new US dollar after this shit is all done and settled, and you’ll be exchanging old for new at a rate of who knows how many to one.
They're all gonna get bailed out and prices for everything we have to buy will continue to rise
This will also keep interest rates high, which will in turn prevent traditional mortgage-heavy banks from being able to make money.
Yes, but that will also force a housing correction which is also desperately needed. Home prices are at their highest point in history, BY FAR. In 2020 the average new house payment was $1200. Today it's $2450. More than a 100% increase in 2 years. A family making the median salary can't afford to buy a home in the top 200 American cities right now. That's entirely unsustainable.
This is the mess that's created when government spends exorbitant amounts of money and central bankers manipulate the economy. This was all very predictable, and very avoidable.
Of course it was, notice that one possible outcome here is that the government takes over banking, which will make it pretty easy for them to close your bank account and to prevent people from owning property in general.
I have a different take on the housing crap. Every new and old house in the city near where Iive is getting filled with illegals where the government is picking up the tab and buying them the houses via entitlement payments. Entire new subdivisions are nothing but illegals in every single house. These fuckers are getting thousands of dollars ~each~ a month free and clear in addition to the ebt and health care and free education and it was all authorized in the various 'covid' bills they borrowed trillions for. Rand Paul even pointed it out the last pork bill. They are robbing our children blind via unrestricted borrowing to ensure they get their tens of millions of illegals so solidly entrenched they can never be expelled.
That combined with the fact that the economy was shut down for years, and the supply chain is still in chaos. As of a few months ago a family friend who is a contractor says most of the materials to build houses are over double what they were a few years ago, at least in his area.
The illegals raised the demand a bunch and the supply chain issues have lowered the supply a bunch.
Exactly. The illegals don't care because the money just shows up in their accounts via direct deposit so cost is irrelevant to them. Its fucking infuriating when you see what the biden admin and corrupt congress are doing to us. This is open warfare via population replacement which is of course illegal via both our own and international law but since they don't care about the law they just do it and wait with crossed arms as we do nothing to stop them. Sooner or later its going to reach the boiling point and thats when the real troubles start. Because once this shit goes hot its not going to stop until one side or the other wins unconditionally.
Sounds like a bunch of houses that should get burned down.
They don't work or could come close to matching the government income if they did so all thats really needed is to cut off the flow of money into their pockets and they will go back willingly. Most don't understand these are not starving or oppressed people they are well taken care of in their own nations for the most part with welfare and such since its mostly commie areas they are coming from. But the money is a lot better here so they come by the millions. Look at a typical picture or video of the stream crossing over. Well fed well dressed and everyone has a smart phone and 99.99% of them don't qualify for asylum let alone legal immigration. Its a fucking scam.
Damn right, my wife’s friends have been buying houses at the peak price points as well as interest rates.
When this goes tits up they will be renting again in 6 months.
109 needs to be at least 110
A lot of that 100% increase is from interest rate going up like 5%. Home prices coming down won't matter if the interest rate is increasing still
300k house 20% down at 2.25% 30yrs = 917 payment ($450 interest) 300k house 20% down at 7.25% 30yrs = 1637 payment, of which $1400 is interest only and doesn't dip below 1400 until year 4
Why would anyone want to buy a house in the top 200 big cities........ nevermind
I don't think it's the fact that nobody wants to live there, I think it's more the fact that it goes to show that housing prices everywhere are way too high if not one of the top 200 cities is affordable.
I met some of them and asked them. They said they like being around all the people and hopping from bar to club to venue then going to bed and restarting.
Deport illegals. Issue will self correct
All the banks are “cash-starved.”
Think about that. The places where we all keep our cash to protect it, doesn’t have any cash on hand available for internal operations.
Why?
Because the big banks give that cash to cartels to grow and launder it.
If they were just making “bad investments,” which purportedly fail, there would be large-scale assets for the banks to repo to remain solvent. There aren’t. (Look at FTX for proof. Not a bank, but similar operation.)
The banks are nothing more than storefronts for criminal organizations.
This is an interesting point about the language they're using, I don't know enough about the bank's inner workings and situations to really be confident if they're straight up laundering the money but it's definitely very sketchy looking.
banks don't keep the money in cash or even with 2% inflation they would lose money (not to mention operating costs.).
They lend out some of their deposits, while some are used to buy treasuries and the remainder is left in reserve. (there are regulations how much can be allocated to each).
Loans and to a lesser extent treasuries can not be sold that quickly, so if there is a run on just about any bank, the banks is in deep shit.
The next shoe to drop is that banks will stop lending money and start closing existing lines of credit to preserve cash.
I think he's talking about the fractional reserve banking. Where you keep $10 out of 100 in your vault. However COVID lowered the requirement to 0
They do it for home builders who use illegals too
Good points and highly likely for the failures that we are seeing now.
They’ll cut rates in about a year to try to make the stock market look good in election season.
Lol last time that caused the 2008 crisis
This is just the culmination of the 2008 crisis after 15 years of kicking the can down the road with artificially low interest rates. Those of us following it have known since Obama’s first term that this was coming.
I got fucked in 01 (I was just getting my career started), and then set back to zero in 08 and again in 12 (that one was on me from a divorce). Needless to say all of my planning had been about this balance coming due since before my first child was born. Still pretty damn nervousz
They'll have to cut them much sooner, and when they do it will be the last time.
I honestly won’t be surprised if it happens by either Christmas or next Easter.
Why would it keep interest rates high?
Learn to barter.
We'll get right on that with electricity, water, gas, forceful insurance, taxes based on assessed values that consider materials costs, etc.
We once fought a war over tea.
We didn't, better men did......
Ain't that the sad truth.
you're all going to...
There’s a reason that cat is speaking non-American English.
And before we fight a war over this we're all going to face increased prices and hardships. Not a single leader figure out there wants to do that and the people willing to are called glowies because they're "literally whos". Doing anything outside of a large group will just land you in prison or dead while nobody knows what even occurred.
This is the proper reply. I get the sentiment, but people who think they and everyone else are going to barter for shit like it's the year 1142 need to get their heads out of their asses.
The only way we truly go back to a real bartering system is with a society wide collapse of everything in which the ONLY important things left are shelter, food, water.
And we don't get there without untold fucking amounts of human suffering and massive death.
Once we do, though, if you're one of the lucky survivors, then good luck with it I guess?
Until then, you're not going to be bartering jack shit with your 12 bottle of vodka you've got stored in your "bunker".
The thing is, everybody wants to have an answer for this shit, everybody wants to be the one with a solution. But some situations are so fucked they don't have a solution.
This is one of those situations.
We're just going to all fucking burn together as this country spirals out.
I would say, before learning to barter, you should learn to shoot.
How many 9mm can I get for a 556?
A partial solution at best. The system must be stopped or it will continue to ratchet down
The common goal is to get the economy rolling so we can all have our needs and desires met in a healthy work/spend economy. I can tell you some points that will really help understand this:
All money systems stem from a system called Babylonian Money Magic. Money is a system used by slaves and it has many pitfalls such as the easy ability of the money creators (bankers) to scam us or Gov to tax us. Nevertheless, we can just jump off the money system suddenly so we have to just upgrade our way to higher ground one day at a time.
Economy struggles when People don't have money to buy and then stores don't make money. If People have money to buy, the money goes round and round. I buy your tables, you buy my car parts, ect... The deep state intentionally lowers the money supply so People suffer so bartering expands the supply. A homeless guy can wash dishes for an hour in exchange for a meal for example. I can even trade a bag of weed with some store in exchange for their merchandise. I suspect organic veggies will be a good money supply one day. Gold/Silver are always good because they can be used for many applications like electronics, medicine, jewelry, ect... Fiat cash paper can't. Digital is even worst because it is dependent on the electric grid controlled by the deep state.
All that money People deposit into banks was used to expand their Corporations and so giving up your money to them is a bad idea in the long run. It is better to invest in a good safe and keep only a small amount in the bank if you have to.
Free Market Enterprise is the best form of commerce atm. This means People can sell anything anywhere as long as they don't block entire sidewalks or violate private property Rights. No business license needed.
Taxes are a huge strain on the economy and should be cut off immediately without excuses of being afraid of Uncle Sam. All Patriots in history took risk to save the Country. This is our risk. Inflation is a hidden tax also but that can be cut out through barter of gold/silver, goods & services more or less. It's just too easy to make digital or paper money and cause inflation.
The economic system is so rigged by Bankers that the only way to win is to not play their game. We must run our own game. Btw, the word gangster originates from the word bankster.
We have to step up our game now. I don't want to go through another 8 years of Great Depression economic turmoil and neither do 99.9% of People. We have to make bold moves and try new things or else nothing will ever change.
Bartering works when there is no existing financial system. Since we already have one, bartering isn't a viable option. As someone else said, you can't barter your landlord for Rent, or utility companies for your electricity, gas, internet, etc. Bartering only works for physical small goods and services. Additionally bartering only works when specific things are in demand. You can't always trade a basket of potatoes (or whatever you may have) for a plumber to fix your kitchen sink, and no one is going to spend time bartering for something from someone else that your plumber is going to want/need in exchange to fix your sink.
While bartering is an ideal situation, unless you live in some kind of small town/commune, we are far too ahead in society for it to actually work on a large scale.
Incorporate it where you can. If you need money to pay for electricity, use money. If you can barter goods for goods, then do that.
You can trade your skilled labor for many things. Paint your rental, or preform maintenance on it instead of paying a month's rent in cash. Barter your skills, and labor for the services you need. Dentist, and mechanics need carpenters, and landscapers.
Lol if I made upgrades to my rental, my landlord would simply raise my rent because the place is nicer now.
Depends on the landlord. Mine paid for materials, and I remodeled the master bath. Demo, tile, and paint. It needed to be done, and took a couple days. I did not pay rent for a month. It was a good deal for me, and them. I used this as a example. They would have just hired illegals at a high price for a shitty job. The bonus was not having strangers in my house for a week.
And stock up on lead.
deal making is always a good skill but bartering per se is not necessary.
Yes but bartering for goods and services bypasses the money problem. If People don't have money, they can barter. Also, less scams in barter (ie no taxes paid on them).
Since bartering is considered legal trading in the U.S., the Internal Revenue Service (IRS) treats goods and services gained as taxable income. So, the receivers of bartering income may be required to make estimated tax payments.
Sauce: https://worldpopulationreview.com/state-rankings/is-bartering-legal-in-the-united-states
Stop paying taxes period. Don't pay a dime especially after the Gov ran a genocide on us.
Democide, not genocide
Why would you tell them what you bartered? No dollars no tax.
I’m just warning people not to brag about their barters. 🙂
The IRS requires that you pay taxes on bartered items, just like they require payment of taxes on goods that you stole. :)
We need to shut down the IRS
Government should only be allocated a fixed given Amount for basic services like police.
I am not a cash cow that needs to be milked over and over after they get their basic allowance to operate.
So what happens when no one can afford anything?
Feds gonna run out of paper. U.S. banking system has $22 trillion in holdings.
Is it really a bailout? I think we need to stop using bailout. Use the word 'launder' instead. Because that is exactly what it is.
Here we go again.
site front page looks like ad for bank run central. is this cn n?
Might as well be. Hysterical losers all over the place.
banksters and criminals? money launderers? traffickers?
Obama crashes it, Obama's puppet crashes it. Seems legit.
Muh muh muh degregulations…and the ..climate…billionaires. Something something strawman something something.
big mike want to buy Silicon Valley for 2 pounds
so he’s willing to give his left nut for it
pretty sure he's a one baller
Joe plagiarizes everything
This is getting so bad even Pete Buttigigig is pulling out.
Wrong. His boyfriend is pulling out.
Wrong, the dog is pulling out.
Eew
That poor dog.
Yeah but how can they blame it on Trump?
They’re just gonna blame derregulation without citing any actual regulations that shouldn’t have been eliminated.
Already have.
https://twitter.com/POTUS/status/1635313530550509568?cxt=HHwWgIDTzby_5rEtAAAA
here also
https://www.businessinsider.com/silicon-valley-bank-bernie-sanders-donald-trump-blame-2023-3
there he goes again. Joe blow
The deregulation bill was voted in congress and had the support of 30 dems in house and 20 dem senators
gotta sauce on that sis?
You are a such a lazy faggot.
dude are you so triggered that you downvoted me 3X so far?
I havent downvoted you at all you paranoid jim cramer clone.
You and Pukeahontas are one and the same ball
https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html
“When the president signs this, we put community banks back in the mortgage lending business, which is really exciting for me,” Sen. Heidi Heitkamp, D-N.D., told CNBC on Wednesday.
Warren is already doing that while Trump truths about Joe and Mike for the 73rd time
help me understand this dude
Which part?
the predicate
you should let him know dude. I'm sure he has you on speed dial.
And there it is. You're triggered someone criticized your personal Jesus, my bad.
Like they need a reason to do that
They just do. It’s not like the other side thinks rationally about it.
I look forward to the banks collapsing and writing off my house and millions of others so all of us hard working people finally get the millions we’ve paid in taxes back somehow.
Lol he thinks he's going to get something back
LOL!!!!!!!!!!!!!!!
It’s called a jubilee, biblically speaking.
Rest assured whatever happens, the illegitimate Biden regime will make sure you get screwed.
No, the government will be accepting your monthly payment and the lean on your home will be transferred to them until you pay.
I'm wondering how much home prices will fall in the next 5 years?
hopefully i'll be able to sell my house, and finally find the house out in the country on 10+ acres i've been wanting for a reasonable price
I just closed on my sale like a week ago. whew Talk about a close shave.
were you able to aboid the 7% interest?
Best of luck, pede. I'm in the same boat.
I just live in my house
why?
because its better than living on the sidewalk or under a bridge like a troll.
Some cheap property in East Palestine OH I heard…. Kek!
nothing funny about the hardship of others shitlord
I'm pretty much an idiot when it comes to this stuff. How is it that housing will collapse yet someone in your position, whatever that is, would be able to scoop up the cheap real estate?
Because his money isn't managed by corrupt retards, ostensibly. But he's probably counting on being able to close using USD.
Have money saved up and be ready for the collapse. Sell you home at the peak, any time in the prior year till today, and then take that money and buy real estate when it collapses. Military Service gives you free VA Home loans, so you don't have to rent and you get a kick back every month to you as principal as well.
My own two cents are everyone should have been buying 100 oz of silver yearly for the last decade. By the time this is said and done, a 1,000 oz of silver will buy you 10 acres to farm in 3-5 years.
dude there is plenty of sidewalk space in San Fran where you can live for free.
nah, rather not live in traitor states. The traitor state Michigan used elections schenanigans to remove the Republican legislature and they are done. They are getting ready to remove gun rights from a State known for its hunting. If they are smart, the residents should start looking at seceding from Michigan and joining Indiana like the Greater Idaho project.
Now the FED cannot fight the inflation with interest rate hikes so the housing prices should rise as the cost of mortgages go down.
Your house and real estate value are literally the only tangible thing with value left in the American economy. 99.9% of everything else is smoke and mirrors.
so nothing else has any value whatsoever? interesting
Almost everything we think has value anymore is backed by mountains and mountains of debt on the other end.
The entire US and world economy is a house of cards. Bureaucrats and regulators have run amok and are essentially holding the house of cards together with duct tape and dental floss since at least the COVID crash....probably way before that though.
At some point it will be too many holes in the dam to plug and it will all come crashing down. It's going to be like nothing we have ever seen before. This could make the Great Depression look like a vacation. Think about how many peoples' jobs depend on technology companies and banking and that sort of shit.
A depression is what we were looking at during COVID. The measures the government has taken since then....unlimited printing of money coupled with terrible monetary policy and virtually no serious regulations on investment banks and hedge funds have created something different we're going to need a different word for this. It will be close to a total economic collapse. If you're scared you should be.
Considering getting a talk together with the Gf and taking what we have; 100% of my cash savings and paying off the house so we OWN that. Its within reach. She will have to put in about twice what I have though, because I just dropped 22k on paying off my 2020 Ranger. The house was next but I may have ran out of time. I CAN double what I have by selling some assets now which does get me in the ballpark; she'd only have to put in half of what I'd have then and we'd own it.
Her job isnt going anywhere and mine isnt either, unless the whole company goes down. We should be fine but Im looking at complete doomsday scenario where we HAVE to pay it off NOW because the dollar will be worthless if we wait too long. I guess that debt doesnt go away or change dollar amounts no matter how high inflation goes; we've been riding that wave and our mortgage is only 430$/mo. With inflation our wages skyrocketed but the mortgage stays the same...but what happens if it all crashes down and the dollar is worthless?
If you think the dollar will go through hyper inflation, then paying your debt is STUPID. If you think $100 won't buy a hot dog, why not wait until then? Then you can pay off your house with a few hundred hamburgers.
dude this is why I am debt free
precious metals has value as does land.
Precious metals are only kind of valuable. Almost all of their modern value is inflated and fake. Especially silver. A huge chunk of what's left is because of their industrial applications.
If shit hits the fan you will not get far trying to barter your Morgan Dollar for food or clean water. Metals are valuable because they're useful. They may not be as useful in the future when the barter economy will be necessary.
I mean, it could sky rocket... It might take several wheel barrows full of cash to buy a home. Or like ten loafs of bread.
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." ~John Maynard Keynes, 1919
LOLZ. the perfect boomerang is when the gangsters end up holding the bag with the worthless paper and the good people get the real assets.
With inflation skyrocketing, will it really go down?
As interest rates go up, the ability to take out a loan goes down, which forces home prices to decline. I did analysis on home prices from 72 to 2022 and that played through. Homes adjusted for inflation, the cost went down for new construction. The builders had to build smaller and more affordable homes to sell them. So hopefully we won't keep seeing these god damn mega homes.
Builders need to get back to quality over quantity. The illegal labor force stands in the way of quality starter homes. Responsible companies should school their clients into a reasonable transaction instead of upselling out of greed, and laziness. When you figure in engineered obsolescence, and poor quality products that do not stand the test of time like they once did true inflation is much higher. Many new homes need major repairs within a few years of construction because the were not built correctly. In Texas the builder is only required to warranty a house for one year so they cut corners for profit.
They are blaming the elimination of DFAST (Dodd Frank Act Stress Testing) by the Trump administration for the collapse. This is generally believed by the mouth breathing, MSN watching retards. I work in bank stress testing (CCAR) and I can tell you that this collapse had nothing to do with DFAST. In both DFAST and CCAR, the Fed didn't give a fuck about and ignored liquidity risk. Turns out, poorly run banks tend to crash and burn. Who would have guessed???
When a liberal friend or family member brings this point up, just tell them they have no clue what they are talking about. CCAR made DFAST redundant. You are testing the same shit twice, but CCAR is more through. However, neither stress test really included any stress scenario involving liquidity, so they could have had 100 stress tests and it wouldn't have mattered if they didn't include a liquidity risk scenario.
Interesting. You should make a separate thread, seems like you are pretty in the know!
Yes, u/BelichickBradyTrump, please do make a thread about this. The Left is trying desperately to blame all of it on Trump and DFAST. Anything you can explain to the layman will really help.
Anyone who can provide simple explanations about the current banking mess, for us poor slobs who work in other fields - that would be greatly appreciated.
I've also told people to watch Wall Street and The Smartest Guys in the Room (Enron scandal doco) to see how much these outfits really do screw around with money.
Just did. Went a bit more in depth.
I say they are cash staved because they loaned 10s of billions of dollars to SVB, silvergate, signature, first republic, and more. All the bank who just closed or fell tanked today
In come the foreign investors
bingo dude! that's what EU are expecting
Foreign investors have their own problems. They don't want to own yours too.
Haven't we seen this movie before?
It’s a remake of a 1929 classic!
1929 2: electric boogaloo. Now in a theater near you
Maybe Zelenskyy can front them some of those billions?
In about 90 days, all the people on TV that have been saying we're near a bottom will be preaching how the writing has been on the wall since 2021 with fed rates too low, money printing, raising rates too fast, and the Fed overnight lending being through the roof....fuck them. They are part of the problem. We all saw the problems and were told to shutup and buy the dips. Probably while they exiting their long positions.
What's the difference between cooking the books and fractional banking?
Just talked to my banker. Shit is about to go down. Could be as bad as 2008 or worse. A few more banks are about to go. UMB was mentioned as one. If you have over $250k in there, get it the fuck out. Hell, all of it!
You don't just need 64B overnight. They've known about this. Fuckers.
Theyve been loaning billions to all these banks that failed or close to failing, not exactly the proper use for home loan bank
I remember when everything was in millions. Big money was millions. Now it's billions and trillions under biden. He's really bad at his job.
Or is he really good at his job, if his job is to fuck things up?
Incoming default of the US, it's inevitable and the US dollar is losing value fast.
not too bad vs historical: $1 = 1.07 euro and 1.21 brit pounds. currently
It's not about exchange valuation. It's about the US dollar being used as primary financial backing system. Significantly more countries have started to move away or have made first steps to reduce their reliance for crude on US dollars. Among them are India, China, Russia, Saudi Arabia; e.g. rubbles, yuan are already have been used recently.
I hear you dude. however the US will only be using $US for trading purposes and since we are the largest homogeneous market on the planet, things could get a little sticky. in addition, we will be a net energy exporter and will require $US.
You just know the entire dollar could fail and joe biden would keep shutting down oil pipelines to save the planet
Except it is very heavily about exchange valuation.
So what does this all mean for us plebs with a couple thousand in savings?
Russia is winning.
This stinks so badly of a fire sale that benefits the global elite.. If they swoop in and consume hundreds of failed banks they will in effect own a huge chunk of the USA..
EU would like that but it won't be happening.
maybe zelensky will send us our money back
This ☝️
What happens when you underwrite bad paper...
They learned NOTHING from the 2008 crash...
Did they have to learn a lesson? Make mistakes left and right and get bailed out with a nice bonus at the close of it all. Where's the lesson?
To the tune of gansters paradise. Selling homes at twice the price livin in the banksters paradise....
Not Only Them
FDIC only has $124.5 Billion on its balance sheet and a $100 Billion line of credit. US banking system is +$22 Trillion. FDIC assets cover only 1.26% of deposits.
Doom, plenty of doom, has anybody seen anymore doom that can be doled out.
Ask Ukraine to send some of that 200 bn back to us
Let it crash. Needed to endure the pain and get it over. Fitting that it happen on Beijing xiden's watch
All that money is in Ukraine.
Zelensky will let them have it for 5 points.
So does this mean that maybe Zelensky will negotiate peace since we are broke as fuck?
yeah, that's about the only thing that would do it lol
All my banking is done with one very small local bank, I have no money in the stock market or anything and my only debt is my small mortgage. Should I be concerned, pedes?
Similar situation for us too, I'm not sure what to do if anything.
I told you all to get the anal lube ready a long time ago. America is being destroyed from the inside.
This will all be financed by increased taxes on people + massive inflation, the middle class is gonna get crushed if they arent already
just looked and I'm fine so far
If the FHLB raised this money last week, no one would have cared.
Fuck I’m happy I started stacking.
We’re going to have to print a new US dollar after this shit is all done and settled, and you’ll be exchanging old for new at a rate of who knows how many to one.