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Started By
Message
Rate cuts isn’t economic policy.Market needs to bleed,cut spending,lifestyles need change
Posted on 8/5/24 at 8:37 am
Posted on 8/5/24 at 8:37 am
$35 Trillion and growing is not sustainable.
This market needs to bleed and bleed to reset.
People need to stop buying on credit and live within their means.
Cutting interest rates to prop up the equity markets and to entice Americans to take out MORE DEBT with lower rates is not economic policy that is beneficial long term.
Stop buying $100k SUVs, and taking vacations on credit cards.
Live within your means.
If the Fed cuts rates it’s taking advantage of the retard population to entice them into accumulating more crap and putting them further into debt.
This market needs to bleed and bleed to reset.
People need to stop buying on credit and live within their means.
Cutting interest rates to prop up the equity markets and to entice Americans to take out MORE DEBT with lower rates is not economic policy that is beneficial long term.
Stop buying $100k SUVs, and taking vacations on credit cards.
Live within your means.
If the Fed cuts rates it’s taking advantage of the retard population to entice them into accumulating more crap and putting them further into debt.
This post was edited on 8/5/24 at 8:39 am
30
Posted on 8/5/24 at 8:37 am to Covingtontiger77
quote:
This market needs to bleed and bleed to reset.
Indeed.
Posted on 8/5/24 at 8:40 am to Covingtontiger77
Amen, younger people live on their credit cards. This will cause mass bank rurptzies
Posted on 8/5/24 at 8:41 am to Covingtontiger77
Every economy is going to have ups and downs. We're supposed to ride those. The problem is that, for political reasons, governments try to prevent the downs altogether (lest they be blamed for them at the next election), which only makes them deeper and longer lasting when we finally have to deal with them.
Posted on 8/5/24 at 8:41 am to Covingtontiger77
quote:
If the Fed cuts rates it’s taking advantage of the retard population to entice them into accumulating more crap and putting them further into debt
The government considers this a feature not a bug.
Posted on 8/5/24 at 8:42 am to Covingtontiger77
quote:
People need to stop buying on credit and live within their means.
True leaders lead by example. Our leadership sets a terrible example. Buy now, pay later. Why does government always get a pass on this?
Posted on 8/5/24 at 8:46 am to Covingtontiger77
quote:
$35 Trillion and growing is not sustainable.
Agreed.
But how does this
quote:
This market needs to bleed and bleed
fix this
quote:
to reset.
The federal debt bubble service bubble makes any market restructuring roughly equivalent to repainting a mobile home sitting on top of a volcano about to erupt.
Posted on 8/5/24 at 8:46 am to Covingtontiger77
People these days just really hate being told they cannot have something right when they want it
Posted on 8/5/24 at 8:48 am to Dawg7730
quote:
True leaders lead by example. Our leadership sets a terrible example. Buy now, pay later. Why does government always get a pass on this?
The educated population knows to live within their means.
You are correct the masses see govt spending as the rule and apply to their own lives.
The only debt one should carry is a mortgage on a primary home.
Here is my PSA: If you have to take out a loan for a boat, brand new car, vacation condo, name brand purses and shoes YOU CAN NOT AFFORD THESE LUXURIES. THESE ARE NOT FOR YOU.
Stop looking at how the Kardashians live and think you are supposed to have their material things and live their jet set lifestyle. You DON’T have ANY MONEY for that.
Posted on 8/5/24 at 8:49 am to Covingtontiger77
Ive been bitching about this for years now.
People spend to much trying to impress people that dont care LOL.
People spend to much trying to impress people that dont care LOL.
Posted on 8/5/24 at 8:50 am to Covingtontiger77
if they can do that large a rate cut now, then they should have been doing smaller ones all along.
Posted on 8/5/24 at 8:50 am to jizzle6609
quote:
People spend to much trying to impress people that dont care LOL
Yep. Freaking lemmings.
Their day of reckoning is coming.
This post was edited on 8/5/24 at 9:51 am
Posted on 8/5/24 at 8:50 am to Covingtontiger77
quote:
The only debt one should carry is a mortgage on a primary home. Here is my PSA: If you have to take out a loan for a boat, brand new car, vacation condo, name brand purses and shoes YOU CAN NOT AFFORD THESE LUXURIES. THESE ARE NOT FOR YOU.
Before the credit card, this was how everyone lived.
People didn’t even take out mortgages for the most part in the mid 1900’s.
If you had any debt people pitied you and looked at it as a catastrophe.
The creator of Mastercard didn’t even use a credit card and hated debt.
Posted on 8/5/24 at 8:52 am to Covingtontiger77
One problem is that many people just cannot live within their means due to the skyrocketing cost of everything. Especially housing.
Posted on 8/5/24 at 8:52 am to Covingtontiger77
quote:
This market needs to bleed and bleed to reset.
Recessions are healthy. It prunes the bad investments out of the economy.
Problem is, the fed is just a political arm and contorts the economy in every way possible to avoid a recession when Dems are in office.
Posted on 8/5/24 at 8:54 am to Covingtontiger77
Only way to fix debt problem is massive cuts to SS and Medicare, all the older folks who blame young people for the problems in the economy won’t tolerate that.
Posted on 8/5/24 at 8:54 am to Covingtontiger77
Fundamentally everything you posted is 100% true.
American voters will have none of that and would rather their grandchildren pay the price.
American voters will have none of that and would rather their grandchildren pay the price.
Posted on 8/5/24 at 8:55 am to Covingtontiger77
quote:
People need to stop buying on credit and live within their means.
But momma needs her 80K Tahoe and 600K McMansion financed out until she's 80 on a teacher's salary, dammit!
Posted on 8/5/24 at 8:56 am to Tantal
quote:
Every economy is going to have ups and downs. We're supposed to ride those. The problem is that, for political reasons, governments try to prevent the downs altogether (lest they be blamed for them at the next election), which only makes them deeper and longer lasting when we finally have to deal with them.
Thoughtful, logical, and accurate statement. These posts should not be on TD.
Posted on 8/5/24 at 8:56 am to Covingtontiger77
dont forget the $1200 cell phone that they buy ON CREDIT
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