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ALL houses are high asking price s, banks are refusing to lend.
IF property values were stable, or are to stable for the future here, banks would be lending.
Thus area is not a major city with high value real estate, which is what sellers are trying to ask for.
Banks everywhere are cancelling CC accounts or reducing credit limits, so in that sector,banks are also not lending.
That is a separate issue, not tied to high overpriced homes.
Maybe reaganomics will come back open up the money supply and banks will be back to charging 20% interest on a mortgage, and we can all get 12% on our money market accounts.
Who knows.
Banks are refusing to lend? Where did you get that? How do you explain this:
Something is wrong, and pretty much everyone acknowledges this in their own way. You on the other hand keep living in denial, in your own imaginary world.
We can see the social and political disintegration before our very eyes, the anger, the REVOLUTION. We are constantly told to expect economic growth and therefore inflation, not purely because anyone truly wants consumer prices to rise more than what little they have, rather if that ever would happen then it would finally confirm the vastly more important growth part. This means real inflation, the money kind, and not some supply-driven bulge from other and unsustainable artificial factors.
Every year, Central Bankers and so called Economists tell us how a golden age is imminent, right around the corner. They steady themselves for the celebration, the parade which they anticipate will follow when all "EMERGENCY" programs are finally removed. Taper then terminate QE’s, hike rates, finally normalization across all global finance.
And every year it eventually becomes clear this isn’t going to happen. But why? No one ever says. They promise and guarantee, the media gets hysterical about it and then dead silence.
Where is this REAL ECONOMIC GROWTH??????? The real truth is that no real economic growth will ever be possible until we man up and go thru DEFLATION first.
DEFLATION before REFLATION. That is a LAW of NATURE and no monetary gimmicks or any FED manipulation will ever change that.
lol....
With banks not lending anymore, everybody must be flush with cash huh?
US Building Permits Beat Expectations in August
Building permits in the United States rose 6.0 percent from a month earlier to a seasonally adjusted annual rate of 1.728 million in August 2021, the highest level since April and well above market expectations of 1.60 million. The volatile multi-segment jumped 15.8 percent to a rate of 674 thousand and single-family authorizations were up 0.6 percent to a rate of 1.054 million. Permits were up across all regions: the South (6.7 percent to 914 thousand); West (3.5 percent to 445 thousand); Midwest (0.9 percent to 215 thousand); and Northeast (18.5 percent to 154 thousand).
With banks not lending anymore, everybody must be flush with cash huh?
WRONG! Bank lending has gone off-track since 2008, a sizable and unappreciated contraction that remains to this day. Without private money creation and lending, basically, there’s no way to get back to growth and inflation.....the very reason why each inflation hysteria comes up only short given enough time as well as why no one can answer for this PUZZLE.
WRONG! Bank lending has gone off-track since 2008, a sizable and unappreciated contraction that remains to this day. Without private money creation and lending, basically, there’s no way to get back to growth and inflation.....the very reason why each inflation hysteria comes up only short given enough time as well as why no one can answer for this PUZZLE.
Banks have been buying record amount of Treasuries this year while the public has been confused and misled that those safest, most liquid assets are untouchable. Too many Treasuries? Not for bankers. But naive and brainwashed public still talks about INFLATION not realizing that the banks are NOT lending, and that’s our DEFLATION, not INFLATION.
You won’t see REAL INFLATION other than the transitory INFLATION caused by other factors like a supply shock.
Look at our US Dollar. It't getting stronger and stronger. Would this be happening in inflationary environment????
Wake up!
Good Luck
If it deflates, then the money we have in our pockets is worth more isnt it? Isnt that a good thing?
Than tell me why the price of every thing is going up? Unless you think the government, media and economic advisors that work for the government and news media are lying to the people about inflation.
The US dollar is the strongest in the world. Most countries trade in the US dollar. The Euro and British Pound are second strongest.
You saying the US dollar is getting weaker?
If there is enough US dollars floating around, and universally accepted, then the dollar will always have some value. But does not mean it is most precious. Silver, and Gold, and rare earth elements are precious, but we dont conduct trade using those as the legal tender. Chinese Yuan can become more valuable, but if supply is too tight cannot use it for trade.
How much US dollar denomination is used for every transaction? If the amount keeps increasing for each then its value is going down. If international trade pricing is going up and denominated in US dollars then the US dollar is getting weaker.
If it deflates, then the money we have in our pockets is worth more isnt it? Isnt that a good thing?
Yes it is.
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