Community Chat

[SharkE]

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@gizmogal wrote:

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@Snowpuppy wrote:

So for those who believe the talking heads that these are inflation fighting measures...

Then why is inflation still soaring one year after the first rate hike?

They have lost control of the economy and have nothing left to throw at it.

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Get your facts straight. It's not "soaring". Soaring means it's presently going up. Last year inflation was 10%. That's why Social Security recipients got a COLA raise of 9% or so.  

In fact, inflation is now down to 6%. A whole year later. Yes, that's the present. Going down. I don't say down meaning inflation is low. It's down from when it soared. Soared is past tense.it is getting gradually corrected. If it corrects too fast it's called recession.  So they kick up the cost of borrowing gradually to bring down inflation and avoid recession. 

Inflation is still unacceptably high, and that is what the  Fed is trying to help. But it is factually incorrect to claim it is still soaring.  Have your own opinion, but you can't make up your own facts to support it. . 

You need to know more about economics and a lot more about facts of our improving economy. Not perfect, but there is high employment, ongoing job creation, and gradually dropping inflation.  Those are facts. 

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8 1/2 % increase in SS. I know because I got it. LOL

better then 1% we got one yr. Insurance went up 2,000

Your not suppose to try to get ahead.

[GinaV24]

Oh yes I remember the mortgage rates. We bought our first house and the mortgage rate was 14.5%. If it had been a half percentage higher, we would not have been able to buy.

Of course the bank interest rates on my CD and savings account was also higher.

[skatting44]

One fact for sure is how much wealth  the average American taxpayer will loose   while interest rates rise and the price of goods remain high and the US GDP  is likely to flatten unless a  war breaks out  or  we need to rampt up production of arms to support the Ukraine  war. 

[Snowpuppy]

Back in 2008, our posters supported each other providing some guidance thru difficult times. How to get thru it all.

I don't think those converswtions would be allowed now.

Can we add some threads to Pro Boards?

[hckynutjohn]

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@Still Raining wrote:

I still remember about 1980 or so, wow.  Now I know why old folks say kids are spoiled.  Anyone else remember the mortgage rates?

@Still Raining 

I remember like it was yesterday when it comes to mortgage rates. We were having a townhome built starting at a 9% mortgage rate. Was still living about a block away in another townhome I had built for me.

During this period if time mortgage rates went from our guaranteed 9% on our new townhome, up to 19.5% in our area. Needless to say, selling our current townhome was virtually impossible.

Also our Guaranteed Loan of 9% on our new townhome was for only 90 days. My sister was a real estate broker and worked with the contractor. Made sure it was under 90 days before closing.

That bank tried every trick in the book to get out of this 9% loan. Had it not been for my sister's knowledge of real estate? 

I was paying 2 mortgages for over 18 months. Ended up selling my original townhome at a 10 thousand $$$ loss, in less than 16 months of living in it.

Forget that?  Not a chance in he!!

hckynut 🇺🇸

[Firefly901]

The issue is COVID has also given us scarcity issues.  There simply are not enough goods and services to keep up with demands from the people, and as a result prices are increasing.  These are lean years, the Fed can't control it, only GOD can.

[ThinkingOutLoud]

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@Firefly901 wrote:

The issue is COVID has also given us scarcity issues.  There simply are not enough goods and services to keep up with demands from the people, and as a result prices are increasing.  These are lean years, the Fed can't control it, only GOD can.

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This is what TPB want people to believe but it's not true.

[Firefly901]

Well, let's look at it.  Does the Fed control the weather?  Does the Fed control the yielding power of land for crops?  Does the Fed control the heath and supply of the animals we eat?  Does the Fed control the means of production?  Does the Fed control the number of people who will get COVID, and how many will suffer from long term COVID and can't work?  Does the Fed control how many people will die from COVID this year?  Can the Fed control the number of excess unexplained deaths we will have this year?  Can the Fed control supply/chain gaps for millions of products?  Can the Fed control the impacts of Putin's war on Ukraine?  I can go on and on but you see where this is going.  All the Fed can do is lower or increase the interest rates, and quantitative easing.  And the latter one is no longer an option, so the Fed is limited to increasing or lowering the interest rates.  That is it.  Everything else is up to GOD.