|
Today in 'history keeps repeating itself': https://twitter.com/MacroPru/status/496165206436102144/photo/1
|
#
?
Aug 4, 2014 16:53
|
|
|
|
| # ? May 10, 2024 18:52 |
|
|
Cultural Imperial posted:Today in 'history keeps repeating itself':  I guess all the fundamentals have returned to the good. Spain still has 25% unemployment right?
|
|
#
?
Aug 4, 2014 17:07
|
|
|
ocrumsprug posted:
Yeah, but Spanish unemployment is weird: 
|
|
#
?
Aug 4, 2014 17:20
|
|
|
computer parts posted:Yeah, but Spanish unemployment is weird: That's some loving lol poo poo. Why the gently caress is the EU letting all these poo poo countries in? In other news, HYPERINFLATION MOTHERFUCKERS http://www.thestar.com/business/personal_finance/2014/08/04/why_the_lowinterestrate_trap_is_worrying_so_many_money_managers.html quote:David Stockman, U.S. President Ronald Reagan’s budget director, said in a recent blog post that by telegraphing their intentions to keep rates low, the world’s central banks are pursuing financial instability. That’s because they are removing the element of risk that keeps speculation in check. Here's how you know you can ignore a pundit. Associated with Ronald Reagan.
|
|
#
?
Aug 4, 2014 17:26
|
|
|
I haven't read the article, but the part you quoted seems to make sense to me? 
|
|
#
?
Aug 4, 2014 17:28
|
|
|
FrozenVent posted:I haven't read the article, but the part you quoted seems to make sense to me? If banks are still unwilling to lend and companies unwilling to spend, and the GDP isn't growing, where are we going to get hyperinflation? Things are getting better in the US but they're still a long way off from Germany in 1922. e: regarding the speculative bubble, well, who knows what the gently caress is going on when assholes are valuing sexting apps at 10 billion. maybe we all just need to Lean In a bit more. e2: Just because stock markets are at all time highs doesn't mean that the fed should respond. namaste friends fucked around with this message at 17:38 on Aug 4, 2014 |
|
#
?
Aug 4, 2014 17:36
|
|
|
Banks are unwilling to lend? Seems to me they're throwing cheap money at everyone these days, isn't that one of the central issue of this thread's subject?
|
|
#
?
Aug 4, 2014 17:38
|
|
|
FrozenVent posted:Banks are unwilling to lend? Seems to me they're throwing cheap money at everyone these days, isn't that one of the central issue of this thread's subject? In canada, I fully agree. In the US, I'm not so sure. e: This is really interesting. http://data.worldbank.org/indicator/FS.AST.DOMS.GD.ZS The US. Domestic credit provided by financial sector (% of GDP) code:namaste friends fucked around with this message at 17:45 on Aug 4, 2014 |
|
#
?
Aug 4, 2014 17:41
|
|
|
Saltin posted:This is correct - they are different. Racism is generally rooted in fear while hating people with dough is mostly jealousy. What if the hate is rooted in the economic idea that concentrations of wealth show restrictions in money flow and therefore are indicative of decreased money velocity and economic inefficiency? https://www.youtube.com/watch?v=6-4TRMFpqVM
|
|
#
?
Aug 4, 2014 18:01
|
|
|
Saltin posted:This is correct - they are different. Racism is generally rooted in fear while hating people with dough is mostly jealousy. Anti-Semitism was rooted in both.
|
|
#
?
Aug 4, 2014 18:09
|
|
|
ductonius posted:What if the hate is rooted in the economic idea that concentrations of wealth show restrictions in money flow and therefore are indicative of decreased money velocity and economic inefficiency? Then I'd say don't hate the player, hate the game.
|
|
#
?
Aug 4, 2014 18:53
|
|
|
Cultural Imperial posted:If banks are still unwilling to lend and companies unwilling to spend, and the GDP isn't growing, where are we going to get hyperinflation? Something about great stock market crashes. I think a couple happened a while ago due to speculation. Which caused a bunch of regulation to be put in to place. Which was then weakened or lost.
|
|
#
?
Aug 4, 2014 20:55
|
|
|
Saltin posted:Then I'd say don't hate the player, hate the game. I'm not entirely sure you actually meant to advocate socialist revolution here.
|
|
#
?
Aug 4, 2014 20:57
|
|
|
ductonius posted:I'm not entirely sure you actually meant to advocate socialist revolution here. I'm not advocating for it, since I am successful and happy within the current system but it is an option for those who are directing vitriol in this thread toward "people with money". There is nothing inherently wrong with having money. If you're unhappy about the system that allows people who aren't you to get ahead, do something about it. That might include socialist revolution, it might include making better life choices. I don't know, since I don't know what anyone else's deal is. Saltin fucked around with this message at 21:06 on Aug 4, 2014 |
|
#
?
Aug 4, 2014 21:04
|
|
|
Saltin posted:I'm not advocating for it, since I am successful and happy within the current system but it is an option for those who are directing vitriol in this thread toward "people with money". There is nothing inherently wrong with having money. If you're unhappy about the system that allows people who aren't you to get ahead, do something about it. That might include socialist revolution, it might include making better life choices. I don't know, since I don't know what anyone else's deal is. So you would prefer a mob of angry peasants storm up to your house and turn it into a homeless shelter in the name of the peoples revolution than get bad words directed to you on the internet?
|
|
#
?
Aug 4, 2014 21:11
|
|
|
Rutibex posted:So you would prefer a mob of angry peasants storm up to your house and turn it into a homeless shelter in the name of the peoples revolution than get bad words directed to you on the internet? It's never going to happen because it's easier to direct angry words at people on the internet. Not sure where anyone said bad words to me though. Also, this is Canada, I already support homeless shelters. Saltin fucked around with this message at 22:03 on Aug 4, 2014 |
|
#
?
Aug 4, 2014 21:51
|
|
|
Saltin posted:I'm not advocating for it, since I am successful and happy within the current system but it is an option for those who are directing vitriol in this thread toward "people with money". There is nothing inherently wrong with having money. If you're unhappy about the system that allows people who aren't you to get ahead, do something about it. That might include socialist revolution, it might include making better life choices. I don't know, since I don't know what anyone else's deal is. I'm sure there are a lot of people who feel jealous of the rich because they want what people with money have, but I'm certain there are also a lot of people that hate the rich because people with money often arrogantly assume they're in some way better (or ultimately anything other than luckier) than people who don't have money.
|
|
#
?
Aug 4, 2014 22:22
|
|
|
Saltin posted:I'm not advocating for it, since I am successful and happy within the current system but it is an option for those who are directing vitriol in this thread toward "people with money". There is nothing inherently wrong with having money. If you're unhappy about the system that allows people who aren't you to get ahead, do something about it. That might include socialist revolution, it might include making better life choices. I don't know, since I don't know what anyone else's deal is. Unless you acquired that capital without any form of exploitation either directly or indirectly taking place with respect to how you acquired it then yes, there is something wrong with 'having' money. Beyond that, due to the vast inequalities in society, being someone who has money provides you with a very obvious normative obligation to help others.
|
|
#
?
Aug 4, 2014 22:23
|
|
|
JawKnee posted:Unless you acquired that capital without any form of exploitation either directly or indirectly taking place with respect to how you acquired it then yes, there is something wrong with 'having' money. Beyond that, due to the vast inequalities in society, being someone who has money provides you with a very obvious normative obligation to help others. This is something that every single one of us in this thread is guilty of so I guess congrats on a giant pot/kettle circle jerk.
|
|
#
?
Aug 4, 2014 22:33
|
|
|
ZShakespeare posted:This is something that every single one of us in this thread is guilty of so I guess congrats on a giant pot/kettle circle jerk. So, because someone speaking against wealth inequity is not dirt poor, they are a hypocrite. Whereas if they were dirt poor, they would be jealous/ignorant/envious. Congratulations, you've become a cliche.
|
|
#
?
Aug 4, 2014 22:50
|
|
|
ZShakespeare posted:This is something that every single one of us in this thread is guilty of so I guess congrats on a giant pot/kettle circle jerk. understanding your moral obligations to society and the rest of the world is important, so I'm not sure exactly what your point was? I wasn't attempting to claim some moral high-ground here
|
|
#
?
Aug 4, 2014 23:22
|
|
|
JawKnee posted:Unless you acquired that capital without any form of exploitation either directly or indirectly taking place with respect to how you acquired it then yes, there is something wrong with 'having' money. Beyond that, due to the vast inequalities in society, being someone who has money provides you with a very obvious normative obligation to help others. No argument here, except with it being wrong. I am definitely lucky, but prescribe to the " be good to be lucky" school of thought. Meditate on that daily. I also pay more in taxes than some households gross. Additionally I spend time with causes I care about, and even vote NDP. All I'm saying is don't broad-brush success. It's not all lovely bros in BMWs. I sense you'd know that If you'd read my posts today. Also - every dime you make is at someone's expense. Saltin fucked around with this message at 00:33 on Aug 5, 2014 |
|
#
?
Aug 5, 2014 00:30
|
|
|
The first step towards being a person that belongs to some lovely group but wants to be less lovely is to own the gently caress up to the lovely parts of the group and try and help instead of getting all offended because oh no you personally are surely not part of the problem. Yes yes, not you personally, #NOTALLMEN etc, but when you hear a group that is being somehow hosed over by the group you belong to, it is absolutely not the time to make the conversation about you and your hurt feels.
|
|
#
?
Aug 5, 2014 01:26
|
|
|
Mr. Wynand posted:The first step towards being a person that belongs to some lovely group but wants to be less lovely is to own the gently caress up to the lovely parts of the group and try and help instead of getting all offended because oh no you personally are surely not part of the problem. Yes yes, not you personally, #NOTALLMEN etc, but when you hear a group that is being somehow hosed over by the group you belong to, it is absolutely not the time to make the conversation about you and your hurt feels. The only people hurt in this conversation are the eat the rich contingent though so now what?
|
|
#
?
Aug 5, 2014 01:48
|
|
|
Saltin posted:No argument here, except with it being wrong. I am definitely lucky, but prescribe to the " be good to be lucky" school of thought. I'm not arguing you aren't good at whatever it is you do, but you seem to understand that life in a first world country under any amount of privilege is predicated on the backs of others. What you don't seem to understand is that this constitutes harm-caused in a very real sense. If you think that's okay then, well, I suppose that's where we part ways. As you've decided to take the time to inform us specifically that you act in a beneficial manner to your various communities, that seems to imply that you're taking some action to try and redress that harm. However that doesn't excuse or allow for more of the same behavior - it isn't something one can just trade off. That's why 'eat the rich' is even a response, not (or at least not primarily) because of envy, but because of an easy association of those who do harm vs. those who are harmed, regardless of how good you are at whatever it is you do.
|
|
#
?
Aug 5, 2014 02:17
|
|
|
JawKnee posted:I'm not arguing you aren't good at whatever it is you do, but you seem to understand that life in a first world country under any amount of privilege is predicated on the backs of others. What you don't seem to understand is that this constitutes harm-caused in a very real sense. If you think that's okay then, well, I suppose that's where we part ways. As you've decided to take the time to inform us specifically that you act in a beneficial manner to your various communities, that seems to imply that you're taking some action to try and redress that harm. However that doesn't excuse or allow for more of the same behavior - it isn't something one can just trade off. I am not sold on the premise that the average Westerner does no harm, or that more successful people do significantly more harm, in general. You're right - that's probably where we part ways. Back to discussing mouldy basements in Vancouver. Saltin fucked around with this message at 03:22 on Aug 5, 2014 |
|
#
?
Aug 5, 2014 03:18
|
|
|
Saltin posted:In my estimation, given we are all doing harm as relative Kings among men, historically, any misgiving must be based in an inability to understand how good one has it, relatively, or envy. Anyway moldy basements are a plague across this great nation of ours.
|
|
#
?
Aug 5, 2014 03:37
|
|
|
JawKnee posted:understanding your moral obligations to society and the rest of the world is important, so I'm not sure exactly what your point was? I wasn't attempting to claim some moral high-ground here This entire thread is people bitching about who other people can afford to buy houses. My point was that we all exist in a capitalist society, and all of us in the west benefit from it, so unless you are a chinese foxxcon slave posting on SA in secret, you are just as guilty of benefitting from the exploitation of the poor as the next guy. So calling out people who are marginally more wealthy than you because they can afford to own their own home is stupid. There is a real issue worth talking about here, but hey, why do that when we can bitch about people who don't have to rent?
|
|
#
?
Aug 5, 2014 03:50
|
|
|
ZShakespeare posted:This entire thread is people bitching about who other people can afford to buy houses.... There is a real issue worth talking about here, but hey, why do that when we can bitch about people who don't have to rent? Yep, no dangerous asset bubble here. Just plain old jealousy and dumb renters. Just wait until valuations are 100% higher in five years - - that'll shut up all those envious renters at the IMF.
|
|
#
?
Aug 5, 2014 04:46
|
|
|
ZShakespeare posted:This entire thread is people bitching about who other people can afford to buy houses. My point was that we all exist in a capitalist society, and all of us in the west benefit from it, so unless you are a chinese foxxcon slave posting on SA in secret, you are just as guilty of benefitting from the exploitation of the poor as the next guy. So calling out people who are marginally more wealthy than you because they can afford to own their own home is stupid. There is a real issue worth talking about here, but hey, why do that when we can bitch about people who don't have to rent? It's not quite that simple. I don't want to live in a country paralyzed by a real estate obsession, especially when at some point either the banks or the CMHC is going to be at my door, cap in hand, to stump up for the bailout. I do rent, but that's by a strong preference for liquidity and mobility on my part.
|
|
#
?
Aug 5, 2014 06:35
|
|
|
ahhhh finally found my favorite shithead vancouverite's instagram again http://instagram.com/nickdanielc  this loving guy
|
|
#
?
Aug 5, 2014 07:25
|
|
|
Business, Finance, and Careers › [Canada] Buying Pre-Construction - Need Advice Beyond "Don't Buy It" That thread just reminded me about my friend who bought a pre-construction condo here in Halifax a year ago. It seems as though it embodies everything this thread hates...   I'm not sure if they've even broke ground yet and they have tens of thousands of his dollars already. I wanted to stop him, but I didn't want to get involved. He's 25, and he bought a 1 bedroom. He'll be 28 by the time this place is built. He's not a rich guy - what if he gets hitched and wants to have kids? But....floor to ceiling windows!
|
|
#
?
Aug 5, 2014 13:21
|
|
|
For a second I thought that building was made of shipping containers! Edit: NVM, checked link, it's supposed to look like it is!
|
|
#
?
Aug 5, 2014 13:34
|
|
|
Professor Shark posted:For a second I thought that building was made of shipping containers! I can't believe I didn't think of posting about it back when we were talking about people living in containers in Saskatchewan. I think I kind of blocked the whole charade from my mind. I'm going to take a bike down there at lunch to see if they've even started. If I recall correctly there's a building that needs to be demolished first. I wager a slice of my mother's banana bread that it's still standing - a full year after he first gave them a bunch of money.
|
|
#
?
Aug 5, 2014 13:43
|
|
|
Danny LaFever posted:I bought my place in Fall of 2007 and the bank was insistent on a 35 year mortgage but I ended up with a 25 year anyways. And it was a prime -0.1% rate as well. I bought into the (GTA) market in 2010, and scooped up one of the last 35 year mortgages offered. It makes a ton of sense for fiscally responsible people who want to reduce their minimum obligation. That said I have no intention of waiting 35 years and am on track to be mortgage free in 15 years or less, barring buying a larger home  Honestly I wouldn't be surprised if when those 35 yr variable mortgages get renewed after a significant downturn there were a lot of defaults. I know a few people who are riding on housing being in the high 40s for percentage of net income.
|
|
#
?
Aug 5, 2014 14:05
|
|
|
http://business.financialpost.com/2014/07/30/albertans-piling-on-debt-faster-than-rest-of-country-as-housing-market-heats-up/quote:Albertans piling on debt faster than rest of country as housing market heats up
|
|
#
?
Aug 5, 2014 16:36
|
|
|
Bond yield spread between US/Can widest since 2007. And supposedly this correlates.  So interest rates will do something or rather. Anyone actually know? e: Tara Perkins thinks interest rates are going up. https://www.theglobeandmail.com/report-on-business/economy/housing/five-year-mortgages-holding-firm-but-just-wait/article19841876/ quote:Rewind seven months and economists were predicting that five-year fixed mortgage rates would creep up a bit this year. But they've done nothing but fall so far. So what happened? namaste friends fucked around with this message at 16:41 on Aug 5, 2014 |
|
#
?
Aug 5, 2014 16:38
|
|
|
^ Bonds and the bond market mystify me. Anyone care to explain why Canadian bonds would have a lower yield than American ones? Some sort of elaborate forex arbitrage reason I'm guessing?
|
|
#
?
Aug 5, 2014 16:42
|
|
|
Lexicon posted:^ Bonds and the bond market mystify me. Anyone care to explain why Canadian bonds would have a lower yield than American ones? Some sort of elaborate forex arbitrage reason I'm guessing? I would think it's a long-term price signal as to the projected future worth of the Canadian dollar vs. other currencies.
|
|
#
?
Aug 5, 2014 17:07
|
|
|
|
| # ? May 10, 2024 18:52 |
|
|
Lexicon posted:^ Bonds and the bond market mystify me. Anyone care to explain why Canadian bonds would have a lower yield than American ones? Some sort of elaborate forex arbitrage reason I'm guessing? edit: not to mention interest rates, of course.
|
|
#
?
Aug 5, 2014 17:15
|
|
