Debt Rattle April 14 2019

 

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  • #46698

    Edward Hopper The Sheridan Theatre 1937   • Draghi Worries About Fate Of Fed’s Independence (MW) • The Most Splendid Housing Bubbles in Canada De
    [See the full post at: Debt Rattle April 14 2019]

    #46699
    Dr. D
    Participant

    Assange: the $4.2 Billion dollar man. See? You CAN put a price on freedom. Not only that, it’s chicken feed to these guys: they’ll be happy to spend more of my money, either taxed (government) or stolen by monopoly (government) tomorrow.

    “The only thing standing between us and next Friday’s cliff edge is the hope the EU gifts us”

    What cliff edge? Britain was always going to have to no-deal Brexit. No divorcee is ever going to just let you go, not when you’re a net payer and they’re fishing all your coastlines. And this is not just me, schmartz-guys like Martin Armstrong said the same thing. So did Mish Shedlock. It was always perfectly transparent to see. Why? Note in the quote above: Britain is now a supplicant on the EU favors, a mere hanger-on, and will be forever until they leave. Since the EU will never authorize an equitable deal (they didn’t and why should they?), the only sane conclusion is that Brexit = no deal, so you might as well do it on day one instead of 3 years later. Ta-dah! I was right like anyone with an IQ over 80 could see. (Mine is almost 81).

    Now Britain can say ‘we tried’ and not take blame, had 3 years to scare the pants off suppliers and make them take action, so good on ya, but the point’s the same. Any exit will be no deal. As soon as it’s done, everything will adjust and improve and the world will not end, like it always does.

    Remember how the world would end if they had a vote? Didn’t happen. Remember how it would end if they voted yes? Didn’t happen. Remember how the pound would collapse? Didn’t happen. Remember how the EU would disappear? Didn’t happen. But somehow, this time they’re right and a no-deal will end everything. Remember how they wouldn’t establish an EU unless there WAS a referendum? Somehow, when that was voted down all over, it happened anyway, but semi-illegally, by massive overreach of the ‘treaty’ function. Isn’t that weird? It’s almost like it doesn’t matter how you vote or something.

    Did you think the EU would say, “Oh, right, go ahead, leave, as one of the only net payers, show Europe that it’s reversible, that they have no ultimate authority, that they’re fine or even better off if they leave, destroying 50 years of tireless labor and endless bribes and extortions, I wish you all the best of luck”? Never happen. No deal. You can make the clown show end any time you like, just like everybody else.

    #46700
    V. Arnold
    Participant

    Not only that, it’s chicken feed to these guys: they’ll be happy to spend more of my money,

    But, it’s not your money, or my money, or anybody’s money; it’s fiat; imaginary money; agreed upon money; not real in any sense; just printed without even real paper…
    Now, if you owned gold, and they had access to that, and spent it; then that would be your money; but, that’s not what’s happening.
    In the reality of the real world, economies have little to do with “us”; we’re micro; they’re macro…
    Although that too, is not unlike a walk through the looking glass…
    …it’s complicated and, ultimately, lacks any form of satisfaction…

    #46701
    V. Arnold
    Participant

    …it’s complicated and, ultimately, lacks any form of satisfaction…

    For us.
    Later will be greater…

    #46703
    zerosum
    Participant

    Posting problem!

    • The Most Splendid Housing Bubbles in Canada Deflate (WS)

    There is no way that the rich of Vancouver will let the market fall until they are forced to sell to the poor with no housing.
    The price will only fall to the level that another rich person will/can buy.

    Those falling prices are not going to help anybody with minimum wages. Over 60% of all people at all level of income below $200,000 are on the edge of not being able to meet their monthly expenses. Those “mortgage poor” people will not get reduced mortgage payment with falling real estate prices.

    BC assessment sets the value of as per the last sales of similar property as of the date of 01 july 18.
    Guess what … everyone has been receiving unreasonable raises of the value of their property because the last sucker paid too much.
    The sales numbers of this coming 01 July 19 will determine next years evaluation.
    Assessment for 2020 is when there could be a fall in real estate prices. However, there are strong forces, (fees, commissions, etc.) opposing falling prices.

    Also, Vancouver or other municipalities have rising need to collect more taxes. (Gov. pensions, gov. wages for fire, police, gov. employees etc.)
    Taxes will always go higher for less and less services.

    The bubble is a slow leak the bubble does not go “pop” in a short period of time. The rich always find a way to buy real estate from those “mortgage poor”/over extended owners in distress. Prices always reach a sales bottom before reaching zero.

    Those who are in the majority, who do not own real estate, will still not be able to buy/own real estate after the bubble.
    (If a person has a mortgage, he does not own his property).

    Presently the only real estate market that exist for individuals, is for an existing owner to sell and buy a better property. That market is dwindling.

    Tomorrow is slow in coming.

    #46704
    Zerodollars
    Participant

    Dashed his off this morning. Pinched the original image from Sputnik (I don’t think they’ll mind).Free for all to use anwhere anyhow anytime. (I don’t believe in copyright).

    #46705
    Zerodollars
    Participant

    Sorry – can’t seem to post the image. I’ll try once more. (Its only 156 KB).

    #46706
    V. Arnold
    Participant

    zerosum
    (If a person has a mortgage, he does not own his property).

    In the U.S., even if one does not have a mortgage; they never own their property because of property tax; fail to pay and you lose “your ” property…

    #46707
    Zerodollars
    Participant

    Unpostable images:
    Still can’t post it. Maybe a Microsoft problem. They wouldn’t let you post a letter to Santa Claus if they thought that Santa Claus might be copyright to the North Pole.
    And Windows 8.1 had an upgrade a couple of days ago. Thats always a worry . . .

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