Great Depression of 2016

[Athaid]

When you guys were talking about water purification, you should know about lifesaver, they make amazing water purification products. Also, purification tabs are very cheap on amazon.

 

[rufus]

Let's see if Deutche Bank will open its doors tomorow.

 

[rufus]

Forgive them for they know not what they do. http://www.reuters.com/article/us-usa-fed-yellen-idUSKBN12E22M

I don't have a good feeling about this.

 

[MrsBrooke]

Emphasis on the "know not what they do," because they LITERALLY have no clue what they're doing.

MrsB

 

[rufus]

Just how will they achieve a "High Pressure Economy?" I am afraid it does not look good.

Maybe a Keynesian economy might work in a model or a closed economy, but we live in a different world. The Fed pushes money into the system and lowers interest rates to low rates, and then the Chinese borrow that money for next to nothing and use the money to buy our industry and real estate.

What do they not see here?

Interest rates should be determined by the market forces, not some old cranky lady with weird ideas.

Wealth transfers for social reasons need to stop. One part of society should not have the right to live parasitically off of the other half.

No work, no eat.

 

[MrsBrooke]

What are you Yellen about? She's on the verge of being Fed up with you, Rufus.

High-pressure economy looks something like this:

"Spend all your savings, or we'll take it and spend it for you."

MrsB

 

[rufus]

Every cloud has its silver lining. As I look at the real estate market, I see that in the area where we have our little summer home, everything is for sale. And it is dirt cheap. It appears to me that people are dumping their summer places to save their homes in town. The real estate prices in town are still high, but I doubt that will last.

Every week, we get these offers to buy our house in Phoenix. They don't care about condition. And I suspect some of my neighbors have taken these offers. The area is turning in to rental properties rather than owner occupied properties.

Former owners are now renters. Where is all of this money coming from? It appears to be Canada, but I suspect the true source is China.

People better learn Mandarin so that they can talk to their new land lords.

 

[MrsBrooke]

China? What gave you that idea? http://www.bloomberg.com/features/2016-vancouver-real-estate-market/

Repeat after me:

我會在兩個星期的錢。​

"I will have the money in two weeks."

I'm on the silver lining side with you... A bunch of people are dumping their hunting cabins up in super-north Montana... Also dirt cheap with acreage. Who would want to have THAT as a primary residence??

Meeeeeeeeee!!

MrsB

 

[Oliver Douglas]

Add Silicon Valley to the list of "only the rich" these days. We bailed two plus years ago...old house has gone up over $100k from our selling price...but would I have wanted to spend two extra years in the crowded, over-built hell hole of San Jose for the extra bucks? No way...my atrial flutter went away a week after I retired and hasn't returned. Will live a quieter life up here in the Sierra Foothills rather than watching the stock market daily. When the crash down there occurs, and it will, people will find themselves with $600k mortgages on a house worth $500k or less...good luck to them.

 

[rufus]

China? What gave you that idea? http://www.bloomberg.com/features/2016-vancouver-real-estate-market/

Repeat after me:

我會在兩個星期的錢。​

"I will have the money in two weeks."

I'm on the silver lining side with you... A bunch of people are dumping their hunting cabins up in super-north Montana... Also dirt cheap with acreage. Who would want to have THAT as a primary residence??

Meeeeeeeeee!!

MrsB

I am basing that on the people that eventually come to evaluate the property after it is sold. They may have Canadian papers, but they look Chinese.

That is an interesting article. Vancouver was the alternate home for a lot of Hong Kong people. When it went back to China, who knew what would happen. People were hedging their bets.

Vancouver has Chinese people like we have Mexicans. When we went to Expo 86, we met a lot of them. We stayed in China Town because it was close to the Expo. People told us not to, but we did. It was dangerous, but we never went out at night because we had little kids. It worked for us.

When my sister's estate was settled, her house in Rancho Palos Verdes was sold. The Chinese buyer scrapped the lot clean. It was a nice three bedroom house, but it was replaced with a mega McMansion. She had large gardens and an outdoor ramada for parties. It was all gone in about thirty minutes. Nothing left but bare soil. Her Japanese gardener must have been heart broken.