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Old 06-07-2021, 06:24 PM
 
1,766 posts, read 1,212,455 times
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Quote:
Originally Posted by WRM20 View Post
Were you alive in the 80's in Texas? My parent's mortgage was 11 percent. Their house payment was more than mine now, on a loan amount one third of mine.
Your parents were lucky. You HAVE to buy the house when the house price is low, and when interest rates are high.

 
Old 06-07-2021, 06:36 PM
 
5,901 posts, read 4,394,855 times
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Quote:
Originally Posted by C2BP View Post
Your parents were lucky. You HAVE to buy the house when the house price is low, and when interest rates are high.
The only reason interest rates were that high was because inflation was high. The early 80s was the worst economic times since the Great Depression until the Great Recession.

Something something high inflation and criminal bankers stealing the future 40 years later.
 
Old 06-07-2021, 06:37 PM
 
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Quote:
Originally Posted by mathjak107 View Post
.......Don’t like it , leave the country, problem solved
I am afraid that is not posssible. I love America more than any other country in the world and, exactly for this reason, I insist on the right to criticize the FED.
 
Old 06-07-2021, 07:00 PM
 
956 posts, read 504,037 times
Reputation: 1015
Quote:
Originally Posted by Thatsright19 View Post
The only reason interest rates were that high was because inflation was high. The early 80s was the worst economic times since the Great Depression until the Great Recession.

Something something high inflation and criminal bankers stealing the future 40 years later.
High interest rates and reasonable home prices are much better than low interest rates and outrageously high home prices. It matters big time even if the payment is the same. Having a lower balance is much better and lower risk of default and better for banks.

It also gives people options like those who want to save to pay cash better options as home prices will be stable and flat more likely and not run away from them. And for those who only care about the flippin monthly payment, they win as well as they have lower priced homes, but much higher interest rates thus same payment.

Instead the corrupt government wants to encourage run away home prices and convinced us home prices were so low in 2008-2012 when in reality they were back to normal.

The whole stupid ZIRP or LIRP by the FED to drive home prices up so much is just wrong for future generations. And it almost caught me who saved to pay cash for a house in 2013 nick of time. I can only imagine how bad it would have been in 2014-2015, 2016-2017, let alone 2018-2019, or god forbid let alone 2020-2021 sky high increase in prices even with terrible covid economy well before it even began to recover good from covid. Thank god I got a paid for house as it is essential to my happiness and well being.
 
Old 06-07-2021, 07:06 PM
 
1,766 posts, read 1,212,455 times
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Quote:
Originally Posted by Wolverine607 View Post
High interest rates and reasonable home prices are much better than low interest rates and outrageously high home prices. It matters big time even if the payment is the same. Having a lower balance is much better and lower risk of default and better for banks.

It also gives people options like those who want to save to pay cash better options as home prices will be stable and flat more likely and not run away from them. And for those who only care about the flippin monthly payment, they win as well as they have lower priced homes, but much higher interest rates thus same payment.

Instead the corrupt government wants to encourage run away home prices and convinced us home prices were so low in 2008-2012 when in reality they were back to normal.

The whole stupid ZIRP or LIRP by the FED to drive home prices up so much is just wrong for future generations. And it almost caught me who saved to pay cash for a house in 2013 nick of time. I can only imagine how bad it would have been in 2014-2015, 2016-2017, let alone 2018-2019, or god forbid let alone 2020-2021 sky high increase in prices even with terrible covid economy well before it even began to recover good from covid. Thank god I got a paid for house as it is essential to my happiness and well being.
 
Old 06-07-2021, 07:07 PM
 
10,581 posts, read 5,565,177 times
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Quote:
Originally Posted by C2BP View Post
Yes, the FED is NOT leading us to PROSPERITY. The FED is leading us and the entire world to the SLAUGHTERHOUSE!!!
Can you give me the street address? I'd like to plug it in to my GPS.
 
Old 06-07-2021, 07:11 PM
 
10,581 posts, read 5,565,177 times
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Quote:
Originally Posted by mathjak107 View Post
It isn’t as much what you post , it is how much you post the same stuff over and over ad nauseam….

Complaining and whining daily accomplishes nothing …no one can change a thing …complaining over and over is futile..it reaches a point few really care what you spew about the fed because it is the same stuff over and over and it is what it is.

Don’t like it , leave the country, problem solved
Don't forget THAT every third WORD is capitalized AS if that MEANS something.

Thank GOODNESS he hasn't DISCOVERED how to CHANGE font colors or FONTS.
 
Old 06-07-2021, 07:13 PM
 
956 posts, read 504,037 times
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Quote:
The gold standard is unworkable. There's not enough gold to cover the amount of money in circulation. It also ruins liquidity, reduces the ability of people and businesses to raise capital, and is all in all a "really bad thing"
Maybe that is true, but there needs to be some standard to stop the FED from willy nilly just bond buying by creating money out of thin air. I mean my god the FED just throws $4 trillion out of thin air in response to covid when it was not at all a liquidity crisis threatening the future runaway inflation. And they cannot just pull back so easily. If they try and sell the bond on their balance sheet and few or no one buys them we are in huge trouble.

I mean let a recession happen. They got to stop this line they will keep printing money until full employment is achieved. I mean why did they not do that in 1990-1991 recession, or 2000-2002 recession when unemployment both times was not bad but not super full employment.

We have 5.8% unemployment now and yet they insist we are no where near full employment where as we had 6.X% in 2003 and they were not printing money like this. 5.8% to 6% unemployment rate is pretty good or at least ok. Even 7% is not that bad.

But it seems since 2008-2009 happened, they respond by printing anytime there is the slight whiff of a recession or a recovery that is only solid but not super good enough.
 
Old 06-07-2021, 07:23 PM
 
1,766 posts, read 1,212,455 times
Reputation: 2904
Quote:
Originally Posted by Wolverine607 View Post
Maybe that is true, but there needs to be some standard to stop the FED from willy nilly just bond buying by creating money out of thin air. I mean my god the FED just throws $4 trillion out of thin air in response to covid when it was not at all a liquidity crisis threatening the future runaway inflation. And they cannot just pull back so easily. If they try and sell the bond on their balance sheet and few or no one buys them we are in huge trouble.

I mean let a recession happen. They got to stop this line they will keep printing money until full employment is achieved. I mean why did they not do that in 1990-1991 recession, or 200-2002 recession when unemployment both times was not bad but not super full employment.

We have 5.8% unemployment now and yet they insist we are no where near full employment where as we had 6.X% in 2003 and they were not printing money like this.

But it seems since 2008-2009 happened, they respond by printing anytime there is the slight whiff of a recession or a recovery that is only solid but not super good enough.
Even John Maynard Keynes wouldn't approve the PROFLIGATE POLICIES OF THE FED AND CENTRAL BANKS ALL OVER THE WORLD. QE, ZIRP, Bond-Buying are all designed to devalue the currency. If we raise interest rates now, then we have to pay ourselves for our sins against nature (debt bubbles ARE sins against nature). If we keep ZIRP and QE, and continue to diminish the value of our currency, we attempt to cheat people in their good-faith investment in American debt. We also export inflation all over the world, rather than take the bitter medicine of higher interest rates ourselves.

If we continue to follow the most selfish path world war becomes inevitable. World war is a way that God will punish us for this selfishness.
 
Old 06-07-2021, 08:44 PM
 
8,191 posts, read 3,384,517 times
Reputation: 6058
Quote:
Originally Posted by baycurious123 View Post
Something that I'm confused about here, and I'm going to try not to get too political:- the previous administration actively pressured the fed to keep the money printer running to maintain lower rates so that the stock market would keep going up up. Now we're seeing the inevitable result of that, turbo charged by the supply/demand issues associated with restarting the economy (lots of saved money to spend, but a LOT of goods/services are scarce now). Do the same people who had no problem with the Fed keeping rates low, now have a problem with them continuing to do that?
It was wrong then and it's wrong now. But I doubt the Fed was obeying orders from Trump. The Fed does whatever it wants.
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