What if it is?
18 replies (most recent on top)
Take Jamie Diamond's lead and put all your assets into dimons.
Agree. Michael Burry is 100% spot on. Man is a genius.
All I know is that when some guy in a suit & tie gets up in front of everyone and says "everything is ok", that there's one thing you can bet on: that everything ISN'T ok...
This is going to be really bad folks, so fasten your seat belts and prepare for a crash landing. Jamie Diamond is right. In the last week more economists are speaking up. Even WF is not releasing their Pre-pandemic loan loss funds “ “We still think there’s significant risk that’s out there,” CFO Mike Santomassimo said at a conference in New York” I cashed out of the market. This has global implications- nothing like 2008, much worse.
Fed only job is to keep inflation& unemployment low. Train has left the station- hold on.
Yes, it's not 2008 once again. This is different we are in now. It's the mother of all super bubbles. Google on Michael J Burry who predicted the 2008 crash and he was right on point. And exactly a year ago, he warned of this coming super bubble like nobody has ever seen. And now he's saying it's like watching a plane crash now. I'm also following other financial investors and advisors who made millions and their "speculation" along the lines of a super bubble as well. We are in for a crash landing and the Fed is not going to do something about it until the unemployment rate is higher than the inflation. Brace for impact.
It is not 2008. First, the housing market is not riddled by all of the phony loans. Second, we say 14 months of job losses in 2007 and 2008. The difference now is that unemployment is at an all time low. What we are going to see is companies not hiring their backfills to keep payroll lower. Ukraine needs to give up Crimea and let the war end because Russia is making hand over fist. Biden administration needs to stop being stubborn and help with exploratory leases, etc. Wells Fargo stock should be going up in an interest rate market but it is not. That means the market is irrational and who knows what direction it will head next. My bet, it will fly tomorrow because they will like the rate hike especially if it comes in less than .75.
This is different than 2008. We now have created artificial problems and governments are being influenced and controlled by billionaires with god complexes.
On its face, term limits is a good idea. The role has evolved from a part time position to a full time position from inception until now. We have politicians who have never worked a 'real job' their entire life. We have politicians who have reached advanced years who would not be allowed to sit on a board or hold an executive position in a company due to cognition decline. Worse still, we have politicians that enter office with little or almost no net worth and leave millionaires. Crenshaw (R) and Pelosi (D) have the greatest stock picks of any person. If they worked for a company and used their information to purchase stock when the window was not open for purchasing, they would go to jail. If serving in public office, you should not be able to purchase stocks or shares. Period. Not in a blind trust, nothing. They should also be banned for life from working for any lobbying firm. If they go to work for an organization that they provided direct legislation to support, it should automatically trigger an investigation and monitoring to make sure it wasn't quid pro quo.
Housing is flattening and decreasing in lots of markets. Where it was overinflated, was in large cities where people left places like NY/CA and move to lower wealth markets like Austin and Charlotte. That is coming to an end.
@eeo is 100% correct.
In this inflationary environment, housing prices flattening IS losing value. The numbers might not go down much, but the value of the dollar is/will.
It’s like 2007, not 2008
If this was like 2008 real estate prices would be plummeting. That’s not happening.
What’s happening is oil companies and other corporations are gouging us as hard as they can.
It is definitely not 2008!
We used to hire and train American before 2008.
Today, look how companies respect workers. They hire recent graduated H1b from China and India whenever they could replace older American.
They stop thinking when asking for more H1b from Asia to take our good jobs, then demanding for student loan forgiveness - because American is struggling.
- They should only be able to choose one of those, but they choose China instead.
Lol surely once the government is hamstrung from interfering with corporations dark money will just stop corrupting politicians of its own accord.
I agree with the thought process that leads to this, the problem is in the real world it doesn't seem to work. Mexico has more extreme term limits than anything anyone in the US is even proposing, and it hasn't even come close to quelling corruption. The only real way to resolve the issue is reduce spending, starve the beast, and the scope of the areas politicians can meddle in.
We need a new political party called the common sense party!
@eeo - only way to get rid of extremists is term limits. Too much $ from special interest groups going into D’s and R’s pockets in DC that it will NEVER happen let alone even make it to a vote. It truly is a swamp/cesspool etc
This one’s going to be a doozy, with one economic convulsion after another. It will take about a decade for the aftershocks and echoes of the pandemic to subside. We will survive those as we have previous economic downturns. Your biggest fear right now should be the fact that this time it’s accompanied by political instability, and demagogues will try to capitalize on this opportunity to scrap our democracy. If that happens—if rule of law is scrapped—our free market system will then completely collapse. The most important thing we can all do right now is shun extremists on the right and left.