Fix? They want this. The entire point of what is happening right now is the culmination of a century and a half of just the most recent economic policy being fulfilled.
The “conservatives” are in power during this time to permanently “discredit” all traditionalist economic systems and policies (despite none of them actually being in place right now).
The “conservatives” are in power during this time to keep the part of the population that owns guns from fighting back against the final global communist takeover.
Trump will preside over the worst economic collapse in human history to then swoop in and (be scripted to) be the savior who comes up with a plan for a single global digital-only fiat currency, tied directly to your government issued ID and accessible through your phone.
This is why every country on Earth has completed a pilot program for CBDC, no matter how third world they are.
This is why direct-to-satellite phone service is being made available in sub-Saharan Africa, along with the West and everywhere else.
They will make paper currency illegal and enforce direct deposit for all employment.
“The economy” doesn’t exist. It is solely a shell game run by a single bank, worldwide, that has enslaved all people and all material production to its system.
...but neither party is actually willing to do even the bare minimum to fix the economy anymore.
To be fair to our politicians, I think your average retard here has a better grasp on basic economics than they do anyway. Even if they wanted to fix the issues they're both too retarded and too out of touch to do it.
In 2019 I was in a Bass Pro shop looking at the fish with my toddler. Walked around the store to the boat section and was astounded, they were offering 240 month payment plans on new boats! I still shake my head at that, haven't been back lately to see if they are still offering those terms.
Now 15 years on a car loan guarantees someone will be upside down when it comes time to sell, or the car just doesn't last that long. Then they can roll the balance into a new 15 year loan.
Brilliantly evil, but I'm sure people much poorer than I am will live out their lives in far more luxury than me... My paid off car will be 10 years this winter. No plans to change it Lord willing.
Brilliantly evil, but I'm sure people much poorer than I am will live out their lives in far more luxury than me... My paid off car will be 10 years this winter. No plans to change it Lord willing.
You know who does the best with debt slavery loans? Ghetto black people (heh) because they don't care about debt, or in many cases the concept of "tomorrow."
The only way to "win" under these terms is to act like George Floyd.
Someone I knew got into a car accident leaving the dealership, and totalled the car. The insurance said because the address of the accident was the dealership it was not the drivers car. The dealership said, the driver left the lot, the value went down, and the driver didn't by gap insurance so the driver owed money on the totalled car. I can't remember more than it had to be litigated, but I remember learning we as customers will never own a ," new " car.
If it's ours, it a used car. It's only new to the dealership.
I love pulling up in my 2000 Honda Accord and looking like the poorest guy around. That thing will run til Jesus comes back. Not falling for the car scam feels like breaking out of the Matrix.
I worked with someone who couldn't show up to work half the time because the dealership turned their car off. At first it was odd reasons, and then it was because they couldn't keep up with the payments because they couldn't get to work. The dealership took that car back, and sold it to someone else. That's their SOP, it makes them more money.
The best take I've heard on this is that a 50-year loan is basically a hedge against the dollar. If you think the dollar will tank (which we know it will), it's actually not a bad bet to get a 50-year mortgage since it will inflate away to almost nothing.
Of course, that assumes that you have the flexibility to take a 50-year bet and that you'd be able to survive mortgage payments long enough during multiple likely financial crises to take advantage of it, but in principle, it's sound.
If you think the dollar will tank (which we know it will), it's actually not a bad bet to get a 50-year mortgage since it will inflate away to almost nothing.
Except, and this is a big except...you're paying almost the same amount anyway, on the hook for longer, and that's not taking into account that the prices will soar to balance the "savings."
This will make housing more out of reach for everyone, no matter what the dollar does. They're just trying to keep the bubble intact, instead of letting prices naturally drop and letting young Americans buy houses again.
The 50 year mortgage is an abomination, no matter how you slice it. And, since we're all in the same economy, it fucks us whether you choose to take it or not. Thanks, government.
Exactly this, monthly payment bros (people who think only in payment terms) will just buy increased prices to the point that the 50 year bet against the dollar barely pays out. It'll all be priced in seconds after it is made official.
Current houses will be even more out of reach, boomers and banksters even richer.
Anyone who thinks this is a choice is missing the point. Because of how the average person thinks, and how the market works, a 50 year mortgage will absolutely fuck any chance of a good 30 year mortgage now.
If this goes through, we'll very shortly be yearning for the "good old days" of a 30 year mortgage.
Just like how almost no one buys homes outright anymore, or gets a ten year mortgage or anything. Those aren't things anymore, by and large.
The average mortgage duration is 30 years. The new average will be 50. We're all fucking fucked.
And the really infuriating part is that they could release pressure on the housing market tomorrow if they actually cracked down on illegal immigration. They are doing this in part so Trump can avoid keeping another separate promise he campaigned on.
We're getting fucked so hotels and farmers can pay below market for their labor, since all that labor needs to live somewhere.
Aren't they? I was, and still am, offered a 15 year mortgage on my home both on the buying and currently on the possibility of a refinance. If I had a job paying like 10$ more an hour I'd take it even, because it has a much lower rate.
I'm not disagreeing with you guys that 50 is a bad thing, but 15 year ones are pretty commonly available and people just don't do their research to look into getting one because "lower monthly payment" is basically the only thought process people have when buying. The guys financing you aren't going to remind you of the option that loses them a lot of money.
I bought mine about two years ago, when it was at the peak of its retardation, and the option was there and incredibly tempting but just out of reach of my budget.
If I had been a few years earlier and bought during that 2% time frame, it would have been an easy choice.
Well, if the home price is inflated by 300% then you usually can't afford a 15-year. Lol. And what do longer mortgage terms do... inflate the price of housing.
I'm not disagreeing with all the problems, only with his assertion that they don't exist anymore. They absolutely do, people just don't ask or look for them because they simply ask around for lower monthly payments to the exclusion of all possibilities.
This will make housing more out of reach for everyone, no matter what the dollar does. They're just trying to keep the bubble intact, instead of letting prices naturally drop and letting young Americans buy houses again.
Yeah, the only way this "works" is if housing prices significantly beat inflation. So the only potential winners would be the people who beat the wave of homeowners that will further drive up pricing.
Very few people keep a car 15 years. I paid for my last full and sold it after 8 which is pretty long, buying the new car the dealer didn't even offer extended warranty that long.
My friend had an extended warranty that required an $8k investigation, and only after that was paid would they determine if they were willing to charge her to dispose of the car, or charge her to repair the car. They had updated the terms of the warranty until there was no warranty. The warranty she had printed didn't match the warranty they were using at all.
It was an Audi. And, they told her they don't give out printed warranties anymore for that reason. It didn't even happen to me, and I was so angry!
The real point on this and mortgages is the same. If we double the life of the loan. We should be halving the payment. Not reducing it by 10 or 20% paying an extra 10 years to go from a 500 to a 400 dollar payment isnt helping. Paying for a car for 15 years and it being a 150 dollar payment could get some traction.
I don’t know if this is just an appeasement attempt, but neither party is actually willing to do even the bare minimum to fix the economy anymore.
The degree to which Wall Street has become detached from Main Street is completely unsustainable. We need a war on global financiers.
woah there, easy on the antisemitism
No.
Occupy Wall Street was a good chance, something happened ...
BLM redirection
Hey, cool it with the anti-semitism.
But hey we can just print money. Good old fiat
Fix? They want this. The entire point of what is happening right now is the culmination of a century and a half of just the most recent economic policy being fulfilled.
“The economy” doesn’t exist. It is solely a shell game run by a single bank, worldwide, that has enslaved all people and all material production to its system.
https://www.samhsa.gov/mental-health/serious-mental-illness
Glad you found a page that can finally help you. Thanks for admitting everything I said is correct.
Last word.
To be fair to our politicians, I think your average retard here has a better grasp on basic economics than they do anyway. Even if they wanted to fix the issues they're both too retarded and too out of touch to do it.
But they don't even want to fix the issues.
Yay! Let's just make all loans ever interest-only! More debt! Not only money printer but the credit printer go brrr too!
You will own nothing, but your happiness is optional.
My favorite joke on this whole thing so far has been "bring your toddler to co-sign the loan with you."
Fuck this evil bullshit.
Hahahahahaha that's a good one. I'm sick of this. I don't see a reasonable explanation anymore.
In 2019 I was in a Bass Pro shop looking at the fish with my toddler. Walked around the store to the boat section and was astounded, they were offering 240 month payment plans on new boats! I still shake my head at that, haven't been back lately to see if they are still offering those terms.
Now 15 years on a car loan guarantees someone will be upside down when it comes time to sell, or the car just doesn't last that long. Then they can roll the balance into a new 15 year loan.
Brilliantly evil, but I'm sure people much poorer than I am will live out their lives in far more luxury than me... My paid off car will be 10 years this winter. No plans to change it Lord willing.
You know who does the best with debt slavery loans? Ghetto black people (heh) because they don't care about debt, or in many cases the concept of "tomorrow."
The only way to "win" under these terms is to act like George Floyd.
You're always upside down when you sell a car. New cars lose half their value as soon as you drive off the lot, this just makes it worse.
Cars are generally always a depreciating asset... It always blows my mind that people don't look at these things as a net loss.
Very very few models can actually retain value due to enthusiast.
I always take the view when purchasing a vehicle of how much money am I expected to lose per year to minimize loss.
Someone I knew got into a car accident leaving the dealership, and totalled the car. The insurance said because the address of the accident was the dealership it was not the drivers car. The dealership said, the driver left the lot, the value went down, and the driver didn't by gap insurance so the driver owed money on the totalled car. I can't remember more than it had to be litigated, but I remember learning we as customers will never own a ," new " car.
If it's ours, it a used car. It's only new to the dealership.
I love pulling up in my 2000 Honda Accord and looking like the poorest guy around. That thing will run til Jesus comes back. Not falling for the car scam feels like breaking out of the Matrix.
I worked with someone who couldn't show up to work half the time because the dealership turned their car off. At first it was odd reasons, and then it was because they couldn't keep up with the payments because they couldn't get to work. The dealership took that car back, and sold it to someone else. That's their SOP, it makes them more money.
Maybe we can start paying university when we are born too, 100 year student loans.
The best take I've heard on this is that a 50-year loan is basically a hedge against the dollar. If you think the dollar will tank (which we know it will), it's actually not a bad bet to get a 50-year mortgage since it will inflate away to almost nothing.
Of course, that assumes that you have the flexibility to take a 50-year bet and that you'd be able to survive mortgage payments long enough during multiple likely financial crises to take advantage of it, but in principle, it's sound.
Except, and this is a big except...you're paying almost the same amount anyway, on the hook for longer, and that's not taking into account that the prices will soar to balance the "savings."
This will make housing more out of reach for everyone, no matter what the dollar does. They're just trying to keep the bubble intact, instead of letting prices naturally drop and letting young Americans buy houses again.
The 50 year mortgage is an abomination, no matter how you slice it. And, since we're all in the same economy, it fucks us whether you choose to take it or not. Thanks, government.
Exactly this, monthly payment bros (people who think only in payment terms) will just buy increased prices to the point that the 50 year bet against the dollar barely pays out. It'll all be priced in seconds after it is made official.
Current houses will be even more out of reach, boomers and banksters even richer.
Yup. Very sad, and I'm absolutely enraged.
Anyone who thinks this is a choice is missing the point. Because of how the average person thinks, and how the market works, a 50 year mortgage will absolutely fuck any chance of a good 30 year mortgage now.
If this goes through, we'll very shortly be yearning for the "good old days" of a 30 year mortgage.
Just like how almost no one buys homes outright anymore, or gets a ten year mortgage or anything. Those aren't things anymore, by and large.
The average mortgage duration is 30 years. The new average will be 50. We're all fucking fucked.
And the really infuriating part is that they could release pressure on the housing market tomorrow if they actually cracked down on illegal immigration. They are doing this in part so Trump can avoid keeping another separate promise he campaigned on.
We're getting fucked so hotels and farmers can pay below market for their labor, since all that labor needs to live somewhere.
Aren't they? I was, and still am, offered a 15 year mortgage on my home both on the buying and currently on the possibility of a refinance. If I had a job paying like 10$ more an hour I'd take it even, because it has a much lower rate.
I'm not disagreeing with you guys that 50 is a bad thing, but 15 year ones are pretty commonly available and people just don't do their research to look into getting one because "lower monthly payment" is basically the only thought process people have when buying. The guys financing you aren't going to remind you of the option that loses them a lot of money.
I have a 15-year, but I bought before the market went total retard.
I bought mine about two years ago, when it was at the peak of its retardation, and the option was there and incredibly tempting but just out of reach of my budget.
If I had been a few years earlier and bought during that 2% time frame, it would have been an easy choice.
Well, if the home price is inflated by 300% then you usually can't afford a 15-year. Lol. And what do longer mortgage terms do... inflate the price of housing.
I'm not disagreeing with all the problems, only with his assertion that they don't exist anymore. They absolutely do, people just don't ask or look for them because they simply ask around for lower monthly payments to the exclusion of all possibilities.
I got a 15 year mortgage in 2021 at a 2.3 interest rate and I feel like I jumped into the last lifeboat off the Titanic.
Yeah, the only way this "works" is if housing prices significantly beat inflation. So the only potential winners would be the people who beat the wave of homeowners that will further drive up pricing.
Very few people keep a car 15 years. I paid for my last full and sold it after 8 which is pretty long, buying the new car the dealer didn't even offer extended warranty that long.
My friend had an extended warranty that required an $8k investigation, and only after that was paid would they determine if they were willing to charge her to dispose of the car, or charge her to repair the car. They had updated the terms of the warranty until there was no warranty. The warranty she had printed didn't match the warranty they were using at all.
It was an Audi. And, they told her they don't give out printed warranties anymore for that reason. It didn't even happen to me, and I was so angry!
Absolute presidency suicide this week.
Car inflation hit first. There's a theory all those cash for clunkers, and donate old car signs were designed to cause car inflation.
15 year car loans already exist: https://woodsidecredit.com/
But they're currently specialized products rather than mass-market.
The real point on this and mortgages is the same. If we double the life of the loan. We should be halving the payment. Not reducing it by 10 or 20% paying an extra 10 years to go from a 500 to a 400 dollar payment isnt helping. Paying for a car for 15 years and it being a 150 dollar payment could get some traction.