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Old 02-17-2018, 07:09 PM
 
6,169 posts, read 3,264,691 times
Reputation: 12518

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Quote:
Originally Posted by Jobster View Post
As all of you should know, consumer credit card debt is at an all time high, personal savings rate is at 2007 levels, student loans and auto loans are at all time highs, and the S&P/Case-Shiller U.S. National Home Price Index is at the highest level in history.

So what are your banking buddies doin about it???

https://www.bloomberg.com/news/artic...l-fed-s-impact

https://www.bloomberg.com/news/artic...d-of-next-year

https://www.housingwire.com/articles...quity-business

https://www.housingwire.com/articles...-what-happened

Yeah, that's right. They sold it all. Why? So they can come right back in and buy up properties for fractions of the price.

Just watch.

The bankers are your friends.
Yes, there's a dark cloud of recession headed our way. It'll take a little time to get here. After the last huge unpaid-for tax cuts coupled with deregulation, it took about 6 years, I think. But the revenue cuts this time around are much larger, and we are already deeply in debt (we had a surplus, when the Bush tax cut bill was passed).

Unfortunately for me, I was house hunting this past year, and could NOT land a house I wanted for the price I wanted. It was very difficult. The houses would sell as soon as they hit the market. I ended up with a house I don't like in a city I don't like, s want to sell and try again in the city I want. But I'm afraid that NOW I won't be able to sell MY house, since interest rates have gone up.

It's a lose-lose for me.

But interest rates rising are a common thing. They go down during recessions to help the economy, and when that's done, they go up again. No big deal, except that a recession will be coming along with those high rates.
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Old 02-17-2018, 07:10 PM
 
Location: AZ
1,979 posts, read 3,067,884 times
Reputation: 3234
Quote:
Originally Posted by Jobster View Post
You know, you're not a bad dude at all. In the future, I will consider your comments.

I was actually surprised it took this long for someone to say anything given the fact that you were right, I didn't read any of the articles.

You never fail to disappoint and I feel like that's a positive service your provide for this forum. This post was more for entertainment purposes than anything, although it's true that I feel like I will be validated by the banker's behavior.

Check out how many times Citadel has been cited for "wash trading." That's how they make money. Look at the fines they pay. BFD, right? I just don't trust bankers. In fact, I don't think wash trading is even against the law anymore. I believe they call it "self-trading" now. They did a lot of that before the crash of 1929.

If you noticed, I just received my first gold star, so I am excelling in my ability to keep people entertained.

I bet you were one of the ones who were thrilled when they decided to give everyone a trophy whether you won or not?
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Old 02-17-2018, 07:49 PM
 
2,779 posts, read 1,511,140 times
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Quote:
Originally Posted by bpollen View Post
no big deal, except that a recession will be coming along with those high rates.
rotfl
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Old 02-17-2018, 10:47 PM
 
7,022 posts, read 6,651,851 times
Reputation: 5299
Quote:
Originally Posted by Lowexpectations View Post
Many banks already took their charges in Q4 2017 as I believe the GSEs did
It was covered in American Banker. They just started writing down dta's and will be for the rest of the year. Total system capital would take a hit of 3-5 percent.
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Old 02-17-2018, 11:04 PM
 
364 posts, read 196,133 times
Reputation: 341
Quote:
Originally Posted by Jobster View Post
Like when I accurately predicted the top of the stock market?
@Jobster, Which specific stock market, and when did you accurately predict what you perceive(d) to be a market top? How's that working out?
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Old 02-18-2018, 12:04 AM
 
822 posts, read 277,860 times
Reputation: 2611
Quote:
Originally Posted by Jobster View Post
You're probably right, but it was the top at the time.

Regarding households, it's actually 19 million paying 50% or more.

39 million households are paying more for housing than they can afford - Jun. 16, 2017
Seriously.. did you read or look at the article?
Plus, who says it is TRUE??
If I have a monthly income of $14000 what is wrong with spending $7000 on housing?
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Old 02-18-2018, 05:07 AM
 
4,780 posts, read 2,276,288 times
Reputation: 8868
Quote:
Originally Posted by Laowai View Post
@Jobster, Which specific stock market, and when did you accurately predict what you perceive(d) to be a market top? How's that working out?
This is how Jobster predictions go, these two posts came within 48 hours of each other:


Quote:
Originally Posted by Jobster View Post
Chinese 10 year and Gold will be the stars of 2018. Take that to the bank
Quote:
Originally Posted by Jobster View Post
I can't recommend Chinese bonds anymore. I don't believe the A+ rating. Capital outflows suggest the Chinese may devalue their currency again.

Then whatever happens with Chinese bonds he'll be in here crowing that he predicted it.
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Old 02-18-2018, 05:16 AM
 
64,805 posts, read 66,270,542 times
Reputation: 43189
I just ignore his posts now . They are not worth my time reading and especially responding to . He is not here for investing help or knowledge.

He simply plays devils advocate or is just a doomsayer and posts everything with a negative ring to it daily whether he even reads it himself which he admitted he does not , understands it or cares to learn why what he posts has little merit.

My only concern about people who do this is that they do it in an investing forum where people come to seek advice and learn and they can tilt someone towards not taking that step that would benefit themselves because they got scared over some of this stuff posted that has little value ,truth or fact, and worse is the fact the person posting it has not even read it.

They just throw it up because it is anti investing , anti fed or anti economy rhetoric and it has a negativity to it

which is all they care about.

It is one thing to post in the economics forum where there is a cult of doomsayer who high five ,support and entertain each other.. But certain individuals posting there nonsense in the investing forum can do actual harm to others .

Perhaps their posts should have a warning attached like the surgeon general does ha ha ha

Last edited by mathjak107; 02-18-2018 at 05:34 AM..
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Old 02-18-2018, 10:48 AM
 
2,779 posts, read 1,511,140 times
Reputation: 2173
Quote:
Originally Posted by lieqiang View Post
This is how Jobster predictions go, these two posts came within 48 hours of each other:






Then whatever happens with Chinese bonds he'll be in here crowing that he predicted it.
In case anyone hasnít noticed, heís doing a fair amount of cutting/pasting/paraphrasing.
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Old 02-18-2018, 10:54 AM
 
64,805 posts, read 66,270,542 times
Reputation: 43189
I do too. But i only do it from those who i think are the smartest in that area of expertise . I am not smart enough to know enough about everything myself to have a real well informed opinion so i count on others for my opinion. I can't analyze what i don't know about. I can only analyze the bits and pieces i know .

So i spent my life learning who the smart people are and letting them do their research to present a well informed view
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