(Thread IKs:
skooma512)
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Paradoxish posted:Used car prices will never actually come down again. Neither will housing
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Mar 14, 2023 06:14
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| # ? May 25, 2024 23:40 |
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Paradoxish posted:Used car prices will never actually come down again. yup. and also the entry-level MSRP market (16-22k) is dead
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Mar 14, 2023 06:15
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What-if pig pen but for people
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Mar 14, 2023 06:26
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Crazypoops posted:What-if pig pen but for people yeesh, techbros reinventing the slum
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Mar 14, 2023 06:29
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Crazypoops posted:What-if pig pen but for people We have those already  The pigs just get out a little too often
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Mar 14, 2023 06:32
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Xaris posted:yup. and also the entry-level MSRP market (16-22k) is dead We got a 2015 Prius brand new for ~$20,000 in 2016. Hopefully it'll last until we die.
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Mar 14, 2023 06:34
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err posted:Neither will housing housing literally cannot because our entire financialized system depends on endlessly recycling mortgages into derivates if the notional price drops on those mortgage backed securities, contracts become worthless and all the individual actors hedging their bets by grabbing credit default swaps eventually add up to some massive entity holding the bag and not being able to pay out except this time, we cant QE our way out of this because that would counter-act the rate hikes sooooo??? what now lmao
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Mar 14, 2023 06:39
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Xaris posted:yup. and also the entry-level MSRP market (16-22k) is dead you can get the ugliest car from the worst brand in the us https://www.mitsubishicars.com/cars-and-suvs/mirage
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Mar 14, 2023 06:40
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SERVE
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Mar 14, 2023 06:43
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S E R V E
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Mar 14, 2023 06:46
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dk2m posted:housing literally cannot because our entire financialized system depends on endlessly recycling mortgages into derivates The solution is to centralise the books, hide them away from any prying eyes, cook thoroughly and burn the evidence. Printing infinite money is sexy and good when banks & governments do it but when I do it they call it counterfeiting. Bah! Anyway good sir, your latte and bagel comes to 5 million dollars today.
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Mar 14, 2023 07:17
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A 2400 sq ft home in my area goes for around $2-3k/mo in rent. By square foot, those tiny homes are double the price.
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Mar 14, 2023 07:27
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yeah price per square foot goes down as houses get larger. sucks rear end.
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Mar 14, 2023 07:30
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That's because the price to heat them goes up the bigger the house is. Sure you might be saving a bit per square foot on a larger house, but if you end up paying an extra $25/month in utilities it basically evens out
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Mar 14, 2023 07:39
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They should have made their shanty town shack out of scrap corrugated iron sheets, as is traditional.
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Mar 14, 2023 07:40
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how come these tiny homes have a second story huh
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Mar 14, 2023 07:42
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TeenageArchipelago posted:That's because the price to heat them goes up the bigger the house is. Sure you might be saving a bit per square foot on a larger house, but if you end up paying an extra $25/month in utilities it basically evens out yo this person can heat their own home.
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Mar 14, 2023 07:52
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There was some school lunch talk a few pages ago. Here are some recent University student lunch photos from Finland. They have 2 tiers of food, cheaper is 3€, more expensive is 5,6€. Usually the 5,6€ version has better meat & sides. State covers part of the lunch price so they can offer lunch at such low prices for students. Eating only those 3€ lunches cost around 60€/month for me. 3€:   5,6€   
Ihmemies has issued a correction as of 08:02 on Mar 14, 2023 |
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Mar 14, 2023 07:59
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perkele
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Mar 14, 2023 08:00
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https://twitter.com/spectatorindex/status/1635529976845049856
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Mar 14, 2023 08:03
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we need a bailout too, it's no fair that they got one and we didn't
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Mar 14, 2023 08:09
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Credit Suss
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Mar 14, 2023 08:10
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when i was in school i made a peanut butter sandwich in the morning and ate it for lunch every single day for years and years
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Mar 14, 2023 08:11
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hey the last two years have been weird and tough for us all
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Mar 14, 2023 08:23
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DancingShade posted:They should have made their shanty town shack out of scrap corrugated iron sheets, as is traditional. If it weren't for the cops, America would have favelas
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Mar 14, 2023 08:25
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Ihmemies posted:There was some school lunch talk a few pages ago. Here are some recent University student lunch photos from Finland. They have 2 tiers of food, cheaper is 3€, more expensive is 5,6€. Usually the 5,6€ version has better meat & sides. State covers part of the lunch price so they can offer lunch at such low prices for students. Eating only those 3€ lunches cost around 60€/month for me. Looks better than army or navy mess food. I'd eat it. We all know air force eat nothing but silver service choice cut steaks and such so they would turn up their noses at this.
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Mar 14, 2023 08:53
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gradenko_2000 posted:If it weren't for the cops, America would have favelas Only violence can prevent shanty towns -Porky the Bear
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Mar 14, 2023 08:55
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this is a few hours before this https://finance.yahoo.com/news/credit-suisse-default-swaps-hit-112556220.html default swaps against credit suisse bonds jumped up a bit, meaning that investors are nervous around the ability for CS to make bondholders whole. also hot off the heels of their massive ~1 billion loss from february. internally they are a shitshow so perhaps they are sitting on toxic derivatives linked to what is now a really volatile bond market. if there's enough jitters and capital outflows from CS, they could be the first to go down, but probably too early to tell/total speculation
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Mar 14, 2023 09:03
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Credit suisse: we made an oopsie
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Mar 14, 2023 09:11
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CS and DB are the closest things to completely safe banks that exist. they're laundromats for the ultra rich, governments, and businesses. like, don't invest in their stock or anything, but they're not going anywhere as institutions, and when push comes to shove their deposits will be backed at the cost of almost everything else.
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Mar 14, 2023 09:12
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dk2m posted:internally they are a shitshow so perhaps they are sitting on toxic derivatives linked to what is now a really volatile bond market. if there's enough jitters and capital outflows from CS, they could be the first to go down, but probably too early to tell/total speculation credit sussie is straight up pretty much a turbo crooked bank that it's absolutely gunna be the first one to go, if things start falling. the funniest is thing is people have been calling them super toxic for years, and they blatantly are, but they've just been left to carry-on the status quo. but will swiss bail them out? probably. swiss is also locked in deep and can't let CS fail so it's not going to.
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Mar 14, 2023 09:15
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Xaris posted:credit sussie
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Mar 14, 2023 09:16
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crussy
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Mar 14, 2023 09:30
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I vaguely remember some talk about credit sus being in trouble some months back but frankly didn't care beyond "huh". If there is a general run I could believe they might get in trouble. By which I mean bailed out by taxpayers. Too big to fail baby.
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Mar 14, 2023 09:31
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i'd agree with you under a normal regime where the government can flood the market with credit to prevent a liquidity contraction and hold toxic derivatives but uhhhh i have doubts thats an option right now - especially for european agencies as it's the fed which ultimately influences their libor/local fund rates we're reaching the limits of what neoliberalism can realistically offer under a sustained near 0 interest rate environment suddenly spiking, causing long term bonds to become worthless. the potential nuke is that we're sitting on something like $600 trilltion of OTC derivatives from a notional value - and financial returns have outpaced real growth meaning that it's probably fair that a lot of that value is pure fiction, especially as values on long term bonds evaporate. running QE regimes dont seem like a magic bullet anymore, as on an obvious level it will counter act the fed's rate hike program. instead it might be an unwinding that will force governments to actually let institutions fail. we'll see
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Mar 14, 2023 09:32
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Fix things? What we need is to invest all of our collective energies into developing the most advanced can-kicking robot the world has ever seen. Really punt that thing down the road this time.
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Mar 14, 2023 09:50
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another area that could blow up is with foreign banks holding long term bonds https://twitter.com/brad_setser/status/1634308556261412864?s=46&t=fhRohXIGwtz71r02K1yeMw tldr here is that Japan has tons of the same “underwater” bonds that took out SVB - the problem is that they have to FX hedge, meaning the central bank has to obtain enough USD to keep their currency in good shape. the problem though is that as rates increase, our currency strengthens compared to theirs, meaning that they need to grow faster to keep up in order to hedge their bets. japan is not exactly what you’d call a growing economy and they have to sustain their ability to periodically burn through their precious foreign reserves to prevent these same underwater bonds from exploding. neoliberalisms logic of using debt to fund more debt, and the fact that debt grows faster than actual assets, has brought us into this comical world where long term US treasury bonds are now somehow an issue
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Mar 14, 2023 10:06
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Oh poo poo. Forget bailing out silicon valley. Those dumb venture capitals with their apps that let you rate 3 piece suits for dogs can all get in line. What we really need to do is bail out all the anime companies when the land of the rising sun turns into the land of the burning accounts books.
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Mar 14, 2023 10:09
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Vox Nihili posted:"Just today I gave the local grocery three shiny dimes and he handed me two crisp apples" - something a dementia patient repeats to themselves as their family cries in the other room lol
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Mar 14, 2023 10:52
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| # ? May 25, 2024 23:40 |
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Computer Serf posted:At least with mobile homes people can own a cheap home and potentially take it with them to other land. I’d honestly do that if it wasn’t for the goddamned HOA.
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Mar 14, 2023 11:29
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