/biz/ - Business & Finance

PUMP EET

I hope every hoomer is 6 digits underwater by March

>>52206422
I'm supposed to close on a brand new house for 295k in December at 4.7% interest rate. I can still back out...

>>52206108
PIVOT BROS, TELL ME ITS GONNA BE OKAY

>>52206108
These niggers really want to buck break the world.

>>52206663
How much cash are you putting down? How secure is your job?

>>52206108
OH MY FUCKING...GET OUT OF NORTH AMERICA

>>52206108
Im willing to lose money on my portfolio if it means a red wave at midterms

>>52206663
4.7 is a steal if the rates are fixed.

>>52206663
You'd be legitimately retarded if you don't.

>>52206663
>New House
>295k

is it cardboard? Or in the middle of the desert?

>>52206740
Remember 2008 ? What happens in US has a direct impact to the rest of the world.

>>52206785
Im counting on it

>>52206108
sweet

>>52206736
only 50k down. I would say it's been secure but its a tech job wfh. (I've been wfh since years before covid though)
>>52206759
It's 4.7 fixed. Basically 1900$ a month payments with insurance and property taxes included
>>52206768
Retard here, are you saying I would be retarded to close, or retarded to back out?

>>52206769
In between Austin and San Antonio, pretty cardboardy, yeah. My dad used to build homes though and said they weren't cutting any corners from what he saw

>>52206747
~50% of this country votes Dem.
~53% of this country pays no income tax
~45% of this country lives off of welfare payments
~15% of this country owns stocks

Market means literally nothing to 90% of liberals. And the 10% it does don't give a shit about it.

>>52206785
I hope so. I just started amassing wealth, stocks on the cheap are paramount in exactly this place of universe and time for me.

>>52206108
The law of Ying Yang dictates interest rates must reach 100% to balance the american market. All credit and debt must be unified. Trillions must be produced for Israel.

And just like that we are back!

>>52206422
3.75% fixed so I'm comfy
also checked

>>52206663
That's going to be a killer rate for the next ten years I would stick with it.

>>52207155
the house market is overheated because banks give every retard loans at low rates but now they are stopping. you may still pay at shit at a low rate but you won't be laughing when your house is priced at 30% of the loan you took out for it.

>>52206108
>this displeases the all-powerful all-knowing holy omnipresent ZESTIMATE honey..

>>52206108
not surprising. They said they won't stop until inflation is under control. Prices are still going higher.

>>52207228
Why? I live in it, it doesn't suck more because it's worth less if I were to sell it. Cry more, rentoid

>>52206108
by the time mortgage rates are under 5% again i'll be 50 - i should just fucking kill myself there's no point

>>52206911
I worked in Buda a few years ago lol. Honestly you'll probably be fine despite most people here freaking out. I also bought this year -- paid 400k for a brand new 2200 square foot home in a premiere Houston suburb, Sienna. Only put 60k down, rest is at 2.75% interest. We make 300k a year both WFH.

>>52207228
Yeah I realize that, the house is on acreage though. Price shouldn't be affected that much. Like the boomers say "buy land, they're not making it anymore"
>pic related

>>52206108
/biz/ said it was priced in

>>52207409
75 bps was priced in. But Powell took a giant shit all over the bulls hopes and dreams for the future.

>We would rather overtighten than risk doing too little
>It's very premature to discuss pausing. We have ways to go
>The ultimate level of interest rates will be higher than previously expected

>>52206959
Lighting in that kitchen is gonna be ass unless there's windows behind the viewer in this photo. I hate cooking and casting shadows on the stove.

>>52207404
>They're not building more land
>Says the soon to be housecuck buying in fucking new Braunfels or some shit and posting about seething rentoids on 4chan
You know what bro I think you should pull the trigger on this house.

>>52206985
>this retard thinks the poor are liberals
Dekulakization 2.0 is gonna be sick

>>52207307
>Cry more, rentoid
You're definitely going to die if you're this dumb

>>52206108
Why does interest have toexist? Can we just have zero interests? Wouldn’t that fix the economy? Who collects the interests payments anyways and what do they do with it?

>>52207748
That's racist.

>>52207748
Because they're not going to lend you money out of the kindness of their hearts

>>52207748
>Why does interest have toexist?
it doesn't. It exists because government is borrowing from a private bank.... and get this, that private bank doesn't even have any money, they create it out of thin air then charge governments interest on it. Isn't it the best scam ever?

>>52207691
>attach only monetary value to your home
>anything more and you won't sell to me!!!!!
Seethe and dial 8 kike lmao

>>52206108
Jesus, just bump it up to 10 or 20, even 30 points. These small bumps aren't going to do shit.

>>52207782
Yeah but the world is trillions of trillions of dollars in debt, why can’t this debt just be forgiven and we stop paying interest on it

>>52206985
>Market means literally nothing to 90% of liberals.
The stock market is the economy (economy = jobs), whether they like it or not. Hell, even leftist NPR gives out stock index quotes at the end of their headline readings. They know that the stock market controls everything. America was built on the Dow/Nasdaq/S&P, and it will fall on it too, taking all the dumb liberals with it.

>>52207228
>omg yes!! it's going to be 2008 all over again! I'll finally be able to buy a house!!!!!! Millions will lose their jobs, but who cares because I'm a narcissist asshole that just wants a cheaper shitshack to live in!
>wait, what do you mean house prices only went down 5%? Demand is still high?
>wait, why am I not qualified for this loan? You're saying banks aren't willing to loan to a loser like me??? WAHH WAHHH IT'S NOT FAIR! BIG BROTHER BIDEN, SAVE MEEEE!

>>52206911
>It's 4.7 fixed. Basically 1900$ a month payments with insurance and property taxes included
4.7 fixed? wtf are your closing costs gonna be? how many points are you buying for that rate? 50k down isn't 20%...you also paying PMI?

>>52207404
you cannot buy land though, you can only rent it from the state for some 1% of value annual taxes. and the issue with the housing market specifically (house != not land) is that it's the most overleveraged market in the world due to the banks being so keen to give out huge loans for it compared to any other asset.

>>52207658
except the sequel has 400 million weapons in the hands of the kulaks.

>>52207404
on the contrary, land is going to get heemed the most in the coming housing downturn.

land values are speculation, and speculation is going to get rekt. improvements on that land (the house [aka replacement costs]) will continue to be sticky because of supply prices and construction labor.

so ask yourself, does my home derive the majority of value from its land (speculation)? or from improvements (replacement costs)? if it's the former you're fucked. if it's the latter, you'll be fine.

>>52207748
Cool it with the antisemitic remarks

>>52208065
50k closing costs is what i meant when i said down, 38k of it is downpayment
Yes PMI payments
The house builder is the one we're getting the mortgage from which is why theyre giving us this deal. paid 6k to lock the rate at 4.7 a month and a half ago

>>52208143

Fuck JEWsa and it's slaves

>>52206108
Should've saw this coming and sold everything yesterday, and bought again today. The Fed always has bad news.
Then again, it is nice to see people like Zuckerberg lose billions.

>>52208153
>50k closing costs is what i meant when i said down, 38k of it is downpayment
>Yes PMI payments
>The house builder is the one we're getting the mortgage from which is why theyre giving us this deal. paid 6k to lock the rate at 4.7 a month and a half ago
that's probably a fair deal, get to that 20% threshold as fast as you can so you can stop paying PMI and you'll be good. good job anon, happy you were able to get into a place of your own before the rates keep rising. expect your equity to evaporate but just keep paying your mortgage and make sure you understand what happens if the value of home decreases below the value of your loan. there should be a clause that explains this and sometimes it will give power to the lender to renegotiate the interest rate so read those loan documents and understand the clauses. cheers.

>>52207368
>We make 300k
They won't keep you at that salary until the end of your mortgage. Millions of young people graduate every year who will gladly take your position for much less.

Will the Biden regime still claim inflation is fine after another hike?

>>52208345
>get to that 20% threshold as fast as you can so you can stop paying PMI
I don't think that is a thing anymore, sadly. I have a mortgage and do PMI, but when I looked into it and followed up, you can't get your PMI dropped anymore unless you have an older mortgage. The only way out of PMI is to refinance.

Can someone explain how raising interest rates effects us, is this only for government loans? or what is this on

>>52208345
>there should be a clause that explains this and sometimes it will give power to the lender to renegotiate the interest rate so read those loan documents and understand the clauses
Cheers to you too brother, and thanks for this info. I have read everything to the best of my ability but should double check on this

Also the 20 percent downpayment we could theoretically do, but then we would be dead broke and not have a year + of emergency expenses, which I'm not comfortable with. The 1900$ month total payment is still the same we were paying for rent previously so I'm okay with that

>>52208412
>I don't think that is a thing anymore, sadly. I have a mortgage and do PMI, but when I looked into it and followed up, you can't get your PMI dropped anymore unless you have an older mortgage. The only way out of PMI is to refinance.
depends on the type of loan. it will be in a clause in your loan documents.

>>52208460
raise rates -> less free money for companies -> companies take less risks -> stock go down -> layoffs -> stock go down more -> some over leveraged companies go bankrupt

>>52208707
doesn't a higher rate mean that companies just pay more for federal loans?
why do companies get access to loans from the government?

>>52208460
Everything around you is indebted. Mortgages are the most direct reaction of interest hike, because regular people like you, your parents, your neighbors, and most of your friends pay them for their homes.
But even if you don't have mortgage or any debt to your name, then companies who you buy your products from probably do have debts (and lots of them). So if a company you buy eggs from has debts on their facilities/trucks/machinery, then they will now have to pay more to repay their debt. Also, the employees of these companies have their own mortgages, so they will expect raises in salary to serve their own private debts.
This means that the company's expenses rise up, which will be transferred to the consumer - You. Now you indirectly suffer from interest rate hikes.
Take this one specific company and multiply it by 100000 companies you buy shit from. And wala, you got yourself in financial difficulty

>>52208813
but how can they set a rate for companies that aren't from the government?

>Powell for months has been saying he will make it fucking hurt
>every single month the market starts coping and making up narratives about what Powell is going to do
>then he gets up on the podium and continues to say hes going to make it hurt
>then the market freaks out

Why is it like this? Are people genuinely this fucking retarded?

>>52208912
Interest rates are not only for the government. They are for private commercial banks as well.
It is for everyone.
A company takes a loan/mortgage from the bank, the bank takes it from the central bank (federal reserve). You see, if the Fed sets interest rate, and everyone who wants money has to pay this rate.

>>52206985
wow nice factoids ignoring Dominion, very worthwhile post friend

>>52207925
because that would mean obligations mean nothing and honor is nonexistent
it means there are no consequences and everyone can do what they want
it means a lot of things your adolescent mind can't quite yet comprehend

>>52208912
When you get loans, you are basically competing with the government. The bank can always just put the money into government debt instead of loaning it to you or anyone else. So the bank will do something like, think you are somewhat risky, say you must pay 10% over what the government would pay. So if the fed funds is 0% your loan would be 10%, but if the fed funds was 4%, maybe they'd charge your 14% or more. The bank makes money by accessing risk like this and charging interest on top of whatever the base fed funds rate is. Like they aren't going to loan any money less than what the government pays because the government is the least riskiest borrower.

>>52208528
>Also the 20 percent downpayment we could theoretically do, but then we would be dead broke and not have a year + of emergency expenses, which I'm not comfortable with. The 1900$ month total payment is still the same we were paying for rent previously so I'm okay with that
sounds like you've got a good understanding of your situation. i've been looking for a house and keep getting outbid or find shit during inspection that i don't like. 0 for 5, but eventually i will get the dream pad with a few acres out in the country with a shop and some peace and quiet. godspeed with your deal anon.

>>52207814
lol there's nothing private, its all done through public elections, so vote this Tuesday if you want change

>>52208920
>Powell spends 5 years giving out candy even as smart people tell him to stop giving out so much candy
>when Powell says he's going to stop giving out candy nobody takes him seriously because he spent 5 years ignoring advice and giving out way too much
also the Fed's actions are more powerful when the market isn't expecting what it ends up doing, so sometimes the Fed deliberately misdirects by suggesting they're going to raise rates or keep them stable and then cutting rates instead -- so it's not unreasonable to predict that the Fed will do the opposite of what they say they're going to do

>>52207446
Anon. It wasn't priced in...

>>52209209
It should have been buuuut

>>52208460
It means the cost of entry to the pork barrel is steeper

>>52208920
yea pretty much.
>downward trend gets over stretched
>shorts cover, price forms a base
>money managers craft a story about FED doing less
>longs squeeze more shorts to cover
>markets rally, making everyone FOMO in because bear market rallys are parabolic
>J Pow & friends have to continue to beat the market down because a rallying market = easier financial conditions = higher chance inflation stays & people feel richer so they spend/borrow

>>52206108
USA is going war with Iran

>>52209280
and russia
and china
yeah this will work out

>>52209008
That's retarded that a bank can take a loan out, it would be like a crack dealer asking ANOTHER crack dealer for a handout because he's running low instead of just getting his own

>>52206663
keep if you love the house, back out if you're settling because it is the best you can afford

>>52209524
Depends on your perspective. Banks rarely actually borrow from the fed anymore, Today, most bank reserves just sit in the bank's reserve account at the fed earning interest on reserves (IOR). So the bank can give loans, but at the opportunity cost of not getting that IOR rate. So they are never going to loan for at or less than the IOR rate, which is part of what the fed adjusts to "set" the FFR range.

In the past, pre-2008, there was much, much less reserves and banks primarily lent to each other to meet reserve requirements (which don't exist today), and occasionally borrowed from the fed as a last resort. So in that case if the bank was short on reserves then they might have to borrow from other banks or the fed to reload that money.

But it was essentially the same system, the "cost" of giving the loan to the bank is now just an opportunity cost instead of potentially a borrowing cost.

>>52209910
>But it was essentially the same system, the "cost" of giving the loan to the bank is now just an opportunity cost instead of potentially a borrowing cost.
I don't understand, we should cut off all loans to banks, if you don't have the money to give out loans to people, you can't do it
or go bankrupt, go fuck yourselves

>>52209989
That's kind of the definition of a bank though, is to take loans from depositors and do the work accessing risk to re-loan that money in more profitable ways. You are essentially saying banks can't exist, anyone who wants to loan money cannot delegate the process to anyone else.

>>52210054
There exists money already in a bank, if they handle that money poorly and go bankrupt it is the fault of the bank, fake money should not exist with loans with APY and shit, it should be a flat fee

>>52210187
>There exists money already in a bank
Where do you think that money comes from? Its deposits which are loans to the bank.

I actually do agree with you, I think the bank should have responsibility for the risks it takes but then you must also accept that depositors of a bank must take the risk too. That is if you have money with a bank, and the bank goes bankrupt, you should get no money back. The problem is people don't want to accept that. People want bank accounts with all the benefits and none of the risks.

>>52206663
4.7 is shit but it’s probably gonna be the lowest we will see for awhile; will you at least have land?

>>52210473
are you talking about saving accounts?

>>52210642
All accounts. People want yield on their money. Interest, while doing no work. That comes from the bank doing something with the money. Otherwise there can be no interest. But people also want no risk. They want to be earning interest 100% of the time and bailed out when bad things inevitably happen.

>>52210728
Just don't allow apy loans, it's that simple
it's fake money like fake shorts

>>52206108
super bullish bros! pivot coming in 2 more weeks! the bottom is in!

>>52210747
You can't, unless you're a communist or something and thing the government should control capital. But you can get the government out of setting and manipulating interest rates. The best system is a transparent and incorruptible, non-government currency like bitcoin, and the government is forced to sell debt at market rate or actually restrain spending instead of printing money. You can still have banks and loans, but hold banks responsible - no bailouts, And hold depositors responsible - no bailouts like FDIC. People would then flock to the most transparent and secure banks - like defi banks, aave, etc. where all the debt is in the open and liquidations happen in an unbiased way.

>>52211209
not wanting interest on things doesn't make me a commie, it just makes me not a jew

>>52206422
don't care locked in 3% interest. It will never be that low again in our lifetimes.

>>52206959
If you plan on staying there long term I would think you'd be fine. That area will only continue to grow as the other two cities do

>>52211902
If we used a more fixed supply currency then you wouldn't have to have interest to maintain purchasing power of your savings. Buy why do you care what others do with their money?

>>52211955
meant to reply to >>52211869

guys the economy has to recede at some point, just like any current. pushing it off at 2008 was a huge mistake

>>52207892
>These small bumps aren't going to do shit
Literally the fastest rate rise in history this year you fucking zoom zooms have the attention span of a dog

My girlfriend has been seething because I don’t want to sell my house (with a 2.7% interest loan that I can fully pay off within 3 years) and buy a 5700 / month mcmansion with her.

>>52208707
>>52208798
Higher rates on "risk free" securities makes them more attractive, so people with money don't have to risk it betting on meme tech stocks to get good returns. This makes line go down.

>>52208360

lol...

If you had any clue what is happening in tech you'd know you're wrong. Shit is so incredibly fucked right now. The off shored hens are coming home to roost. All the skilled laborers who did all the work and had their wages suppressed by off shore workers who did nothing but modify job and wage statistics in companies favors have retired.

I know multiple giant tech companies you all know and love who are literally one failed server away from the entire company collapsing. Things have been almost entirely running on auto pilot from the skilled workers who retired but now things are going outdated and falling foul of legal compliance stuff needing to be rebuilt. Those indian off shored workers are being asked, hey, could you please do the needful and upgrade that server that the entire business depends on? You're the guy who knows how it all works right? You set it up?

LOL..

Entire internet will have a catastrophic outage soon from these kinds of things. It's already been happening more in AWS.

>>52211973
I care about giving money to people who give retarded apy contracts to people who take it, thus inventing money that was never there in the first place
we have so much excess money this is allowed to happen

>>52208360

Oh and PS I'm currently making $300k to do retard tier tech work that a team of out sourced indians has been working on for 8 months. For 8 months these fucking people toiled and studied and tried to make progress. They had achieved 10% of a target. I did the remaining 90% of work myself my first month while still being trained.

Skilled tech workers are like unicorns now and I fucking guarantee you they're going to pay whatever we want to keep building tools to enslave humanity.

>>52208920
Why is there no outrage from the normies that the fed has the power to destroy nations? Fucking end the fed already.

>>52208143
Oy Vey

>>52206959
You ought to close on it if you like the house. That's a good area and not that expensive of a home by today's standard.

>>52207404
It very explicitly isn't land you're buying unless you enjoy buying land at 1000+% of what it typically is.

>>52211869
Anon, be honest with me, are you too young to post here? Interest is the price I charge you in order to borrow my money. If it was illegal for me to make money on a loan, why would I do so unless it was a personal favor? You seem to think that all loans are inherently predatory, but the ability to get a loan opens doors for people to obtain capital and start earning in ways they otherwise never would.

Say you realize that your town doesn't have an ice cream man, so you look up the costs of getting and running an ice cream truck, and find you can afford about one fifth of the cost. But you know that if you could afford it, you could recoup the cost and then some in 2 or 3 years. A lending institution makes this possible, because they will front you the money in a business loan, but with interest based on their risk of you failing to pay them back. And since capitalism encourages firms to specialize, Private individuals giving loans give way to banks giving loans, which start competing with one another by getting ever more insight into how much interest to charge. Remember, banks have to compete on their loan terms; the one that can offer the lowest rates on the same risk profile without losing too many to default wins.

The interest is a payment for the service of a bank giving you your starting capital at what they figure to be the lowest price that makes them comfortable with the prospect of you blowing their money on garbage. Obviously, charging exorbitant interest is morally and legally wrong (which is why it was called usury and was outlawed). I should point out that in the middle ages, it wasn't that Christians couldn't loan money professionally, but that there were limits on the maximum interest, which encouraged them to turn away desperate people and decline to loan to risky cases. It was broke, degenerate royalty that kept going to the Jews for "usurious" loans, which probably were fair rates given the likelihood of being paid back.

>>52212666
>with interest based on their risk of you failing to pay them back
If that's all it was and loans were subject to no-fault default I wouldn't care, but what's actually going on is they'll take everything you own and leave you on the streets. They'd enslave you and your kids too if they thought they could get away with it. I'll support the loan system the day the only penalty for non-payment is a shitty credit rating. Secured loans for things like housing are especially egregious. If the bank issues a mortgage to someone who can't pay it off then it is the bank that should lose the house, not the homeowner.

>>52206108
I suggest trading your tether for gold.

>>52212666
Take a flat rate or get fucked kike

>>52212666
Good explanation Satan. Should be balanced out that the legalese in these loan contracts and the fact banks can magic money into existence from nothing to make those loans, among other things, is fucked up. Interest really is money for nothing, as if banks fuck up with this new money they get bailed out (encouraging them to be even more loose with it). Plus the difference in savings interest and loan interest is fucking horrendous. There is no way the current interest system doesn't just end up keeping the rich untouchable and unable to actually lose any money. Perhaps not an argument for no interest in general, but there is something seriously wrong here. Doesn't seem solvable without an all in on government control or free market though.
tl;dr in a vacuum interest is fine but in reality its just predation on a weak government/people

>>52206663
Keep the house, get bug out gear and fortify

I will literally never own a home.

>>52212832
I get this idea of "money from nothing" that people have here. Its not just you and that other guy saying this, but its wrong. Loans create credit and demand, sure, but they don't create money. A bank can only actually give out money that depositors put in, a bank (non a central bank) cannot create money. Loans don't create money, they just make make use of money that isn't being used at the money.

>>52213120
I mean they just make make use of money that isn't being used at the moment

>>52213179
Not all money are locked in deposits. What if bank lends all of its money, then people want to take money out? Will bank refuse give people their money, risking panic and total bank run, or it will borrow money from a central bank?
If it is the latter, then who's money are being lended after that?

>>52206663
Relax. You can refi when it comes back down.

>>52206108
Yes please, thank you. The signs were out there for everyone to see.

>>52213221
>What if bank lends all of its money, then people want to take money out?
Then bank has to borrow money from other banks. Right now reserves far exceed demand and so banks can easily get reserves. Technically fed has a facility for banks to borrow reserves, the discount window, but at higher rates, and it is rarely used by banks except in emergencies, so I guess there is a way for money to be created temporarily in that way, but it isn't used now and if it started to be used frequently then the government would probably add more regulation like bringing back reserve requirements to prevent it.

Americans never experimented high interest rates before.
And since cucks around the world buy dollars, we cant predict what will happen.

Can banks individually create money out of nothing? — The theories and the empirical evidence
- Richard A.Werner

https://www.sciencedirect.com/science/article/pii/S1057521914001070?via%3Dihub

>>52212053
Hang onto that house, anon, unless you need the money. Owning things - like a McMansion- just to impress others is stupid.

>>52212817
So you are underage, I hear you loud and clear.

The issue with only allowing a flat rate on top of the principle of the loan, is that it makes small loans disproportionately expensive and larger loans disproportionately cheap. A $1000 flat fee on top of a $100 pawn shop loan would be ludicrous, but on a $1,000,000 loan it would be virtually nothing. You would essentially create a system in which only loans in a small window of principle would be worth giving out, and in which the risk profiles of the borrowers would have to be extremely low. You also wouldn't be able to give preferential, lower rates to more qualified borrowers (those with good repayment histories, prior business successes, and strong business plans)

If you want an inefficient command economy, just find your sack and say so, but you're going to need to start a world war to dig yourself out of the economic pit you end up in.

>>52208920
bulltards are delirious and can't let go

>>52206422
US will barely have any effect. Most of us are on a fixed 2% rate. Now other countries on the other hand…

>>52213364
are you fucking retarded? 2008-2021 having extremely low rates is the exception

>>52208813
>when interest rates are high companies expenses rise which is passed down to the consumer = consumer loses purchasing power
>when interest rates are low inflation rises increasing the cost of goods and services = consumer loses purchasing power
I refuse to believe that this system didn't come straight from hell, this world is in one fucked up mess.

how long till i can get a 5% CD at my local bank?

>>52206108
You guys know that everything the fed is doing is just posturing right? They literally can't stop inflation even if they tried. We are entering the new 6-8% "normal" where govt loans to the people directly generates the money supply. Normalized stagflation. That's when they swoop in with the CBDC to "fix all our problems"

>>52214225
Well it's more that low interests rates hurts the saver, high interest rates hurts the spender/investor.

>>52214275
The system is designed to prey on people on the bottom rungs of society who can't save nor invest.

>>52208920
Media spun the pivot narrative to get retards to buy their bags.
>muh best October in history
>muh always good b4 midterms

>>52212666
Nice satan trips, relevant considering you’re defending usury. You might think because you wrote a lot of words you’re Very Smart but you fail to consider the fact that if it weren’t for usury, that icecream business would never cost so much to start up in the first place.
Midwit.

>>52213120
>A bank can only actually give out money that depositors put in, a bank (non a central bank) cannot create money
I’ll take what is ‘fractional reserve banking’ for $30 trillion dollars, Alex

>>52214807
This plus FFR and reserve requirements at 0 for 2 years put the market on steroids, still can't believe it actually happened, FED went full retarded on this.

>>52207368
Hey I live in Houston and I’m rich. Can I fuck your wife?

>>52214915
I don't know... can you?

>>52206108
>The ULTIMATE LEVEL of interest rates
There has got to be a pic of JP going super saiyan out there but I can't find one.

>>52214780
If you actually cannot make a distinction between usury and the entire concept of someone charging money for the privilege of them loaning out their money then there's nothing to be done to help you. If your problem with the concept of loans for profit is that you think it inflates the costs of capital, then you're too stupid to realize that there are simply too many loans being given out due to government policy of backstopping the losses. You want to make bank lending less retarded? Get rid of FDIC protection: its not insurance anyway because its a huge moral hazard. If banks know that they can gamble with the first 100k of each account, then as soon as the first ones start to do it, the rest have to follow or be out competed. While we're at it, get rid of the FED and go back to forcing each bank to establish its own baseline rate for lending so that customers can choose to pick firms that offer risky high yield accounts due to low lending standards or safer low yield accounts due to stringent standards.

When you disrupt risk-reward evaluation you get distortion, no shit. Want a medal for figuring out you get wet when pissing straight up?

>>52213775
He said flat rate you fucking kike, not fee

>>52206108
Interest rates are lagging stated inflation which warrants increasing the rates until they match if one wants to mitigate said inflation. Nothing about it is surprising; even Jerome knows but he also knows idiots will buy his bullshit because it makes them feel better while he hesitates to increase the costs to service the national debt.

>>52206422
I paid cash for my apartment (less than $100K) so I’m so indifferent