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Car Repos Are Exploding. That’s a Bad Omen.


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17 minutes ago, Crnr2Crnr said:

leading by example

'our' debt load in this country is honestly frightening.  we've discussed this multiple times.  one thing I was initially supportive of with trumpster was his debt and defecits talk, but us adults know how that ended.  any politician right now willing to discuss 'our' debt, shoring up social security and capable of taking about basic economics has my attention... but there doesn't seem to be any.  the financial outlook for our nation is bleek and we just keep adding to the credit card.

New article out - 75% of Trump trillion dollar ppp deal - didn't go to employees. 

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4 minutes ago, f7ben said:

Your poor daughter saved eleventy dollars last year and this years it’s worth 40% less. That’s not good planning. We should teach our kids to eat the rich and slit throats when they steal our lunch. Nothing else matters 

nope 😂

when she was ten she bought her first 12 mo cd (not music) because she was shown it paid a better rate than her regular savings account.  she's always been solid in math and understands that people are paying her to use her $ 

she's a loan shark 🤣 

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7 hours ago, 800renegaderider said:

what was it 90% of people I read the past year have been paying 2,4,6,8+k “market adjustment” over sticker. You’re underwater before you even sign on the freakin line.

The market adjustment is officially on new vehicles. That in turn (along with the new vehicle shortage) pumps the price of used vehicles. Used vehicle prices are up almost 50%. While the vehicle may be repo'd, the value of that car remains elevated. Unless the thing has been totally trashed out it can still be sold for it's residual.. So the depth of being upside shouldn't be too great or nonexistant. I think there's another issue here. A lot of younger people have zero skills when it comes to selling an item outright. They just roll over like a lazy carp and let the vehicle be repossessed. When I purchase stuff off of marketplace there's rarely a time when the seller has been under 40 years old. In my 20's I was was buying and reselling stuff all the time. Snowmobile/motorcycle parts, guns, fishing gear, knives, etc. 

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35 minutes ago, f7ben said:

How are we supposed to teach basic economics when we have the leadership at every major institution in the world running everything on debt and credit. How the fuck is anyone supposed to take anything seriously when the invisible hand of the Fed and simply print 10 trillion to keep rich people rich and poor people poor?

Well first off, they lose your delusional world view and figure out how to live and prosper within the structures we have.  You want an 80k truck?  You're free to go buy one.  Or leave your money in the bank.  Easy peasy.

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1 hour ago, hayward said:

i'm surprised no talk on mortgages.  What these people agreed to pay on housing around here in the last 2.5 years makes car payments look like school lunch money investments.  

Depending on the region, houses are still being snatched up for elevated prices. Most areas have a critical housing/apartment shortage. Until that resolves itself houses can be offloaded quick. 

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Just now, spin_dry said:

Depending on the region, houses are still being snatched up for elevated prices. Most areas have a critical housing/apartment shortage. Until that resolves itself houses can be offloaded quick. 

I'd love to sell our house and build a new smaller one.  The problem is......paying too much for the new smaller one.  I could live in a tent for a year.  :lol: 

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10 hours ago, spin_dry said:

Chip shortages are easing but other supply chain snags remain. The used market won’t get back to normal pricing levels until new vehicle supply rebounds. I don’t see how almost 50% of people are upside down on their loans. It doesn’t make any sense. 

You’re 60+ years old and an ex mental health professional and you don’t understand how 50 % can be upside down? It’s because a lot of people are stupid morons who want what they really can’t have, it makes perfect sense.

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Just now, spin_dry said:

Depending on the region, houses are still being snatched up for elevated prices. Most areas have a critical housing/apartment shortage. Until that resolves itself houses can be offloaded quick. 

has our population REALLY grown that significantly in the last decade that there's been this massive housing shortage since the Covid financial bubble?

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2 minutes ago, ford_428cj said:

That was the start of inflation. 

the greatest (unpaid for) stimulus programs in the history of our nation in a two year timeframe... was like pouring gas on an inferno.

has anyone seen the payment plan yet? ;)

 

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15 minutes ago, ford_428cj said:

New article out - 75% of Trump trillion dollar ppp deal - didn't go to employees. 

That’s not a shocker. If there was ever a time for a massive audit, the PPP loan debacle is certainly it.

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1 minute ago, Crnr2Crnr said:

the greatest (unpaid for) stimulus programs in the history of our nation in a two year timeframe... was like pouring gas on an inferno.

has anyone seen the payment plan yet? ;)

 

True, but lets also recognize that we were in a worldwide pandemic, and most governments shut the world economy down cold.  Something had to be done, it was the first pandemic of our lifetimes, and we were in uncharted territory.  Was it the right move, in hindsight?  Probably not.  I would have rather told the compromised and elderly to stay home until it passed, while the rest of us went about our lives and kept the economy going.  I pretty much worked all through it, didn't have as many people into the office but still, I was out in the world, like millions of others.

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The real start of inflation was the fed slashing rates and Trump cutting taxes while increasing spending and all these action coming during a time of already expanding economy. What followed with the covid bullshit was dumping jet fuel on top of the gas already thrown onto a blazing inferno.

Why is nobody asking about the Fed slashing rates summer of 2019? 

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14 minutes ago, DriftBusta said:

I'd love to sell our house and build a new smaller one.  The problem is......paying too much for the new smaller one.  I could live in a tent for a year.  :lol: 

There's a tiny home in your future. :lol: 

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5 minutes ago, f7ben said:

The real start of inflation was the fed slashing rates and Trump cutting taxes while increasing spending and all these action coming during a time of already expanding economy. What followed with the covid bullshit was dumping jet fuel on top of the gas already thrown onto a blazing inferno.

Why is nobody asking about the Fed slashing rates summer of 2019? 

That time period can be compared to Alice in Wonderland. I clearly remember watching a clip of Mr Berkshire Hathaway....Warren Buffet being amazed at the stratospheric rise in investments. Even Mr Conservative was caught up in the delusion of near vertical graphs. Very strange time indeed. When people in today's market whine about investment losses, I think....it wasn't yours to begin with. 

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13 minutes ago, f7ben said:

The real start of inflation was the fed slashing rates and Trump cutting taxes while increasing spending and all these action coming during a time of already expanding economy. What followed with the covid bullshit was dumping jet fuel on top of the gas already thrown onto a blazing inferno.

Why is nobody asking about the Fed slashing rates summer of 2019? 

So the 5 trillion in spending the Dems came up with had nothing to do with it? 

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7 minutes ago, DriftBusta said:

True, but lets also recognize that we were in a worldwide pandemic, and most governments shut the world economy down cold.  Something had to be done, it was the first pandemic of our lifetimes, and we were in uncharted territory.  Was it the right move, in hindsight?  Probably not.  I would have rather told the compromised and elderly to stay home until it passed, while the rest of us went about our lives and kept the economy going.  I pretty much worked all through it, didn't have as many people into the office but still, I was out in the world, like millions of others.

don't disagree on 'something' but they went overboard with little to no oversight or plan.  typical big government mismanagement.  ironically I had quit my job in 2019 to take a year off because we're savers and we can afford it due to good financial planning and no debt, so to see the governments prop up a debters economies in which few do have a rainy day fund (see previous post) and with no payment plan from our elected officials it angered me then and angers me still  

5 minutes ago, f7ben said:

The real start of inflation was the fed slashing rates and Trump cutting taxes while increasing spending and all these action coming during a time of already expanding economy. What followed with the covid bullshit was dumping jet fuel on top of the gas already thrown onto a blazing inferno.

Why is nobody asking about the Fed slashing rates summer of 2019? 

agree, and most of the sheep don't know or care.  the middle class propped up the ruling class, and they still don't realize it 

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4 minutes ago, Carlos Danger said:

So the 5 trillion in spending the Dems came up with had nothing to do with it? 

Sure , it sped up a runaway train. Wanna cookie boomer?

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I remember when people were shocked to see government programs that were in hundreds of millions, then billions, hundreds of billions and now we've allowed our elected officials send us down the debt drain of trillions. 

someone has to right this ship before the band starts setting up deck chairs.

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1 minute ago, Crnr2Crnr said:

I remember when people were shocked to see government programs that were in hundreds of millions, then billions, hundreds of billions and now we've allowed our elected officials send us down the debt drain of trillions. 

someone has to right this ship before the band starts setting up deck chairs.

We are literally 5 miles underwater and just a few hundred feet from the ocean floor. It’s fucking over man. 

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1 minute ago, f7ben said:

We are literally 5 miles underwater and just a few hundred feet from the ocean floor. It’s fucking over man. 

pass me the champagne bottle pal, it looks like we're out of life boats.

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6 minutes ago, f7ben said:

Sure , it sped up a runaway train. Wanna cookie boomer?

We as a country were leery to spend 1 Trillion on the 2008 bank bailout but now Washington throws around the Trillion word like it is a Nickle.  Going to wear out the printing press at the mint. Plus historically cutting taxes raises the amount of money the treasury takes in and at the same time those dollars are worth more.  

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6 minutes ago, Crnr2Crnr said:

pass me the champagne bottle pal, it looks like we're out of life boats.

Exactly ....and fuck that bottle of martini and rossi. Get the dom and put it on my credit card.

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2 minutes ago, Carlos Danger said:

We as a country were leery to spend 1 Trillion on the 2008 bank bailout but now Washington throws around the Trillion word like it is a Nickle.  Going to wear out the printing press at the mint. Plus historically cutting taxes raises the amount of money the treasury takes in and at the same time those dollars are worth more.  

All cutting taxes does is make rich people richer while scraping a few crumbs to the middle class 

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