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Posted on 8/13/26 at 9:12 am to el Gaucho
quote:
80 years ago we blew up the world so that American industry would be dominant forever and every American would have a good job at the washing machine factory with a pension and a house and a nuclear family.
That’s ridiculous. We fought WW2 to prevent Germany and Japan from establishing hegemonic control of Europe and the Middle East and Asia respectively.
quote:
China today seems a lot like America in the 50s
Really? They are controlled by a dictator. Who was the American dictator in the 50’s? Truman? Ike?
They do not have private property rights like America does and did. They do not have freedom of speech. And they don’t have the consumer-driven economy like the US has, and had in the 50’s. They are not driving culture worldwide as America did in the 50’s. They do not have most of the world’s top universities as America did in the 50’s.
quote:
Sure everyone has a Chinese tv and a tracking device in their pocket but take into account children born out of wedlock, suicides, deaths of despair, divorce etc
And China just went through a period of killing, or otherwise disappearing, between 20 million and 30 million girl babies. They currently have concentration camps on a scale of Gulag Archipelago. And their birthrate per female is 1.0.
Posted on 8/13/26 at 9:22 am to stout
I practice in the foreclosure area as well and for the first time in a long time, I've seen a few banks set their opening bid amount below "payoff". This can vary based on your city obviously but in my area, I haven't seen that happen since pre-covid years. Every thing would get bought at auction for payoff+.
Foreclosures are often just 1-3 year old mortgages. Those houses were bought at high prices and the market has fallen a little around here since then. So a lot of houses weren't moving at auction for opening bid - they weren't "deals" for the investors.
Foreclosures are often just 1-3 year old mortgages. Those houses were bought at high prices and the market has fallen a little around here since then. So a lot of houses weren't moving at auction for opening bid - they weren't "deals" for the investors.
Posted on 8/13/26 at 9:38 am to Penrod
quote:
That’s ridiculous. We fought WW2 to prevent Germany and Japan from establishing hegemonic control of Europe and the Middle East and Asia respectively
Ok McGraw hill (ghislane maxwells dad btw)
quote:
They do not have private property rights like America does and did.
I wonder what happens if you don’t pay your property tax
quote:
They do not have freedom of speech
Don’t criticize certain countries in texas or Florida
quote:
And they don’t have the consumer-driven economy like the US has
They send us their junk
But they have their own cars and stuff
quote:
They are not driving culture worldwide as America did in the 50’s. They do not have most of the world’s top universities as America did in the 50’s.
Arguably the root of the American downfall
quote:
And China just went through a period of killing, or otherwise disappearing, between 20 million and 30 million girl babies.
1/3 of Gen Z was aborted
quote:
They currently have concentration camps on a scale of Gulag Archipelago.
This is how liberals describe Angola
Posted on 8/13/26 at 9:45 am to stout
PPI plummets
We will pour one out for you and LSURussian
We will pour one out for you and LSURussian
Posted on 8/13/26 at 9:54 am to Bard
quote:
You are pretty much dead-center on the scenario. The biggest issue we have is deficit spending and that causes two primary problems: -Inflation as long as we keep creating so much debt -Increasing economic dependency on deficit spending remaining at least as high as it has been post-COVID (and that spending is quite a bit higher than the GFC to pre-COVID period, which was higher than the pre-GFC period). Rates can be Volker'd, with the jump in Unemployment following, but as long as annual deficits remain higher than giraffe pussy then we're just fighting the symptom (thus the "cure" may make things worse). On the other hand, just balancing the budget would mean cutting federal spending by ~1/3 (that's for everything except debt servicing). Cutting that much from Social Security, the VA, soldier pay, Medicare, etc. would almost immediately cause a strong recession (and a frickton of voter outrage which would almost guarantee Congress would reverse course asap). What's happening is that the can keeps getting kicked down the road in the hope some miracle happens. There is no miracle for this, math is simply gonna math and the longer and deeper we lean into this pro-debt mindset instead of a pro-credit one, the worse it's going to be when the consumer debt bubble pops and then again when the weight of the federal debt crushes the value of the USD.
The only miracle I could imagine without crunching numbers that maybe boomers dying off would cut down on government entitlement costs since the Xers are a much smaller generation and millennials would still be well away from entitlements.
Posted on 8/13/26 at 10:42 am to Diego Ricardo
quote:
The only miracle I could imagine without crunching numbers that maybe boomers dying off would cut down on government entitlement costs since the Xers are a much smaller generation and millennials would still be well away from entitlements.
What if Fauci tried to save us with COVID
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