which generation has spent the most and taxed the least?

[Crnr2Crnr]

35 minutes ago, spin_dry said:

You keep saying that. But the reality is that there’s trillions of dollars being bought up right now. It continues to be the safe haven currency for the world. There’s trillions sitting on the sidelines right now waiting for the overinflated mess of the past several years to settle down. 

 

28 minutes ago, Anler said:

Bought up by who? 

https://markets.businessinsider.com/news/currencies/china-bank-dollar-yuan-currency-markets-economy-beijing-fed-hike-2022-9

there ya go boys...

[Anler]

1 minute ago, Crnr2Crnr said:

 

https://markets.businessinsider.com/news/currencies/china-bank-dollar-yuan-currency-markets-economy-beijing-fed-hike-2022-9

there ya go boys...

Yeah BRICS is looking to establish their own currency and payments system to tell the west to go fuck off forever so I dont think they will be buying it. 

[spin_dry]

9 minutes ago, Crnr2Crnr said:

 

https://markets.businessinsider.com/news/currencies/china-bank-dollar-yuan-currency-markets-economy-beijing-fed-hike-2022-9

there ya go boys...

Pfffft. China’s dollar holdings has been dropping for years. China would love to have this problem. 
 

https://www.cnbc.com/amp/2020/06/22/theres-nearly-5-trillion-parked-in-money-markets-as-many-investors-are-still-afraid-of-stocks.html

[Crnr2Crnr]

Just now, spin_dry said:

Pfffft. China’s dollar holdings has been dropping for years. China would love to have this problem. 
 

https://www.cnbc.com/amp/2020/06/22/theres-nearly-5-trillion-parked-in-money-markets-as-many-investors-are-still-afraid-of-stocks.html

https://www.cnbc.com/2022/09/30/pce-inflation-august-2022-inflation-accelerated-even-more-than-expected-in-august.html

i have a good chunk of change sitting in cash

[DriftBusta]

Birthrates and statistics are obviously a hard concept for dumb people to understand.  Especially ones who fall for whatever narrative Rachel Maddow or some limp wristed bi curious college professor is peddling

[01mxz800]

2 hours ago, irv said:

I don't get it either? Numerous opportunities to better your life, better your job and acquire a pension if one so desires but it seems a lot just want to bitch about boomers and the like. It's bewildering. 

sooner or later their generations will get their chance to be the cause of all the worlds woe's when the previous generations die off, kind of a "what goes around comes around" moment

[DriftBusta]

6 minutes ago, 01mxz800 said:

sooner or later their generations will get their chance to be the cause of all the worlds woe's when the previous generations die off, kind of a "what goes around comes around" moment

And then the non gendered whatever the fuck they're calling themselves generation can do the same things to the Gen X crowd for fucking up their heads.   

[spin_dry]

Wait 30 years when the gen xers have to listen to the bizarre attacks by millennials and whatever gender bender comes at em from the swamp.  

[Voodoo]

5 hours ago, spin_dry said:

You keep saying that. But the reality is that there’s trillions of dollars being bought up right now. It continues to be the safe haven currency for the world. There’s trillions sitting on the sidelines right now waiting for the overinflated mess of the past several years to settle down. 

The Trillions sitting there are being whittled down by inflation. Government backed bonds are only viable because we allow governments to remain solvent, by selling more taxpayer backed bonds. 

Lunacy, yet it seems to be done across the globe.

If one takes an unbiased look at government debt and the ability to pay it back, the only logical answer is, we for the most part are already bankrupt.

The longer we put off bankruptcy, and the cuts in spending that will entail,  the more painful it will be.

I live in Ontario. This is just taking Ontario's numbers, not federal debt.

If Ontario cut the deficit to zero and cut spending by %10 today, (that would be an actual %15 spending cut), it would take more than 20 years at a %3 interest rate, to bring our debt to zero. 

There is no such plan. We continue to deficit spend in huge numbers.

These people in charge are financial retards, yet we continue to allow them to drive us off the cliff.

On a side note, the US is about to raise the debt ceiling again.

You are going to let them further the problem.

We will fare no better.

[Voodoo]

5 hours ago, Crnr2Crnr said:

https://www.cnbc.com/2022/09/30/pce-inflation-august-2022-inflation-accelerated-even-more-than-expected-in-august.html

i have a good chunk of change sitting in cash

Inflation is technically draining your cash reserves.

Only once the demand of things collapses, yet the costs increase,  you may benefit from the ability to purchase things with your cash that others need to sell.

The cost of the things you actually need will skyrocket as well, effectively making your cash worth far less as well.

Those without cash will fare worse for sure. That should make none of us happy. I'd rather all boats rise with the tide.

Happy Friday.

Edited September 30, 2022 by Voodoo

[spin_dry]

Just now, Voodoo said:

Inflation is technically draining your cash reserves.

Only once the demand of things collapses, yet the costs increase,  you may benefit from the ability to purchase things with your cash that others need to sell.

The cost of the things you actually need will skyrocket, effectively making your cash worth far less as well.

Those without cash will fare worse for sure. That should make none of us happy. I'd rather all boats rise with the tide.

Happy Friday.

Been through inflation before. Far worse than now. Back in the “70’s it was called stagflation. Record inflation with wages that were declining or stuck. It’s sucked. 18% homes loans were the norm. 

[Voodoo]

4 minutes ago, spin_dry said:

Been through inflation before. Far worse than now. Back in the “70’s it was called stagflation. Record inflation with wages that were declining or stuck. It’s sucked. 18% homes loans were the norm. 

I remember sitting with my dad in the early 80's. I was 10 or so, he was crying. Signed one of those %18 mortgages. No idea what that meant at that age.

Now that I'm 52 I can extrapolate what that meant. He was going to give half his engineers paycheque to just cover the interest on the mortgage.

Fast forward to today.

An average home here is a million dollars. 

A %4 increase in interest rate is $40,000 of after tax money that simply goes to interest, one gets no farther ahead of the game.

That $40,000 is the money many families survive on for food, energy, transportation etc.

As interest rates increase,  to combat inflation, there will come a point where the numbers no longer work for both the borrower and the lender.

That will further the collapse.

 

 

[spin_dry]

Just now, Voodoo said:

I remember sitting with my dad in the early 80's. I was 10 or so, he was crying. Signed one of those %18 mortgages. No idea what that meant at that age.

Now that I'm 52 I can extrapolate what that meant. He was going to give half his engineers paycheque to just cover the interest on the mortgage.

Fast forward to today.

An average home here is a million dollars. 

A %4 increase in interest rate is $40,000 of after tax money that simply goes to interest, one gets no farther ahead of the game.

That $40,000 is the money many families survive on for food, energy, transportation etc.

As interest rates increase,  to combat inflation, there will come a point where the numbers no longer work for both the borrower and the lender.

That will further the collapse.

 

 

It’s complicated down here. Most areas are having housing shortage issues. People either make it work or live in a shelter. There’s waiting lists for rentals over a year long in some areas. 

[Voodoo]

1 minute ago, spin_dry said:

It’s complicated down here. Most areas are having housing shortage issues. People either make it work or live in a shelter. There’s waiting lists for rentals over a year long in some areas. 

Up here too. It is very complicated for sure.

We have a massive housing and worker shortage.

I work in the construction industry, drive a concrete truck on and off between working for my own business.

My hot tub repair business has been so busy during covid, I went back to concrete as a "vacation". 

The largest, by far builder and rental property owner (2000) has just laid off 60 people, I've been told.

No longer is he building on spec, despite the need for homes and rentals. That should speak volumes.

Homes were being built on speculation for that 800k to 1.2 million and being sold, pre build.

Every contractor I know, their phones have gone silent in the last couple months.

This will not help the lack of housing, and I hope not, an unemployment problem.

On the plus side, I've been waiting on my carpenter buddy to find the time to build my second floor, master bedroom deck for a couple years.

He's going to have some free time coming up. 

Getting me the material list this week.

Sucks that a 2x4 is still $6

 

 

[Voodoo]

26 minutes ago, spin_dry said:

It’s complicated down here. Most areas are having housing shortage issues. People either make it work or live in a shelter. There’s waiting lists for rentals over a year long in some areas. 

Our provincial government, state to you guys, has come up with some new laws.

These new laws allow for building of homes, building of higher density apartment type buildings in places they should be built, despite the locals fighting it.

I understand the NIMBY factor and can see why people fight it, but we need homes, now.

I'm going to see if I can sever off 10 ish acres on the North side if my property. It's pure rural now, but future seen as residential. They want it to be a subdivision. I can give them 10 acres of 30. They better be happy with that.

It borders a subdivision, of .5 acre homes. Good water for wells, dirt for septic, lots of grid power and natural gas at the road. 

If I can do the same and cut .5 acre lots, for homes it will equate to 16 new homes. In a community that's had 1 or 2 new homes in 20 years.

I'll see how much push back I get.

[Mainecat]

The blame anyone but me generation. Not surprised they favor Trump….the king of “not me”

[Skidooski]

42 minutes ago, Mainecat said:

The blame anyone but me generation. Not surprised they favor Trump….the king of “not me”

Boomers saying stupid shit….go figure

[smokin george]

14 hours ago, Voodoo said:

Up here too. It is very complicated for sure.

We have a massive housing and worker shortage.

I work in the construction industry, drive a concrete truck on and off between working for my own business.

My hot tub repair business has been so busy during covid, I went back to concrete as a "vacation". 

The largest, by far builder and rental property owner (2000) has just laid off 60 people, I've been told.

No longer is he building on spec, despite the need for homes and rentals. That should speak volumes.

Homes were being built on speculation for that 800k to 1.2 million and being sold, pre build.

Every contractor I know, their phones have gone silent in the last couple months.

This will not help the lack of housing, and I hope not, an unemployment problem.

On the plus side, I've been waiting on my carpenter buddy to find the time to build my second floor, master bedroom deck for a couple years.

He's going to have some free time coming up. 

Getting me the material list this week.

Sucks that a 2x4 is still $6

 

 

Your right about the ridiculous price of 2x4"s. I've been watching the price at Home Depot and they're down to $5.48. The Irving Mill in NB has piles of lumber sitting there and in all the times we've gone by have never seen a truck coming out of there with a load on.