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Are We Living in the Roaring 20s?

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Re: Are We Living in the Roaring 20s?

#21

Post by erellsworth »

mc32 wrote: post #11
ddorian43 wrote: post #6

Whatever it is, it doesn't look good for young people. Good luck to them buying a house with these prices & interest rates, or trying to save for a downpayment while renting. The previous generation is hellbent on maximum extraction & I got mine mentality & rent-seeking.

The people in charge want it both ways so they keep on printing money and funding several optional wars simultaneously. They've kicked consequences down the road and seemingly, the new budget approved, kicks it further down the road. That and you add 10MM new legal+illegal immigrants in the span of three years to the housing demand pool and it pushes citizens further away from housing attainability. It's nuts. Then y…

Birth rates in the US have been below replacement levels for some time now. This means we will need more immigrants to sustain the never ending growth capitalism demands.

Re: Are We Living in the Roaring 20s?

#23

Post by ddorian43 »

yetihehe wrote: post #19
pfdietz wrote: post #15

Earlier quoted context omitted.

My daughter just bought her first house.

One datapoint is not a trend. I've built a house 3yr ago. I earn almost twice more now but couldn't afford it if I wanted to do the same today.

Yep. A pretty simple exercise for many people is if they can buy now the house they bought a couple of years ago. Or how their wage changed to support the new monthly payment if buying now. Or if they were renting now can they even save for the downpayment to buy their own house?

Re: Are We Living in the Roaring 20s?

#24

Post by afavour »

hsyehbeidhh wrote: post #17
ddorian43 wrote: post #6

Whatever it is, it doesn't look good for young people. Good luck to them buying a house with these prices & interest rates, or trying to save for a downpayment while renting. The previous generation is hellbent on maximum extraction & I got mine mentality & rent-seeking.

[flagged]

> “You’ll own nothing and be happy”, remember?

> They convinced young women that it’s a sign of independence to have an OF, the Europeans that Russia is an enemy, and half the western population that men can be women.

The latter has absolutely zero to do with the former, it's just a grab bag of reactionary culture complaints (and the Russia one is just straightforwardly true).

Which, ironically, is exactly what the global elites really want people to do: divide themselves over cultural issues and spend all of their time arguing with each other rather than come together and examine the financial system we all live under.

Re: Are We Living in the Roaring 20s?

#25

Post by mc32 »

erellsworth wrote: post #21
mc32 wrote: post #11

Earlier quoted context omitted.

The people in charge want it both ways so they keep on printing money and funding several optional wars simultaneously. They've kicked consequences down the road and seemingly, the new budget approved, kicks it further down the road. That and you add 10MM new legal+illegal immigrants in the span of three years to the housing demand pool and it pushes citizens further away from housing attainability. It's nuts. Then y…

Birth rates in the US have been below replacement levels for some time now. This means we will need more immigrants to sustain the never ending growth capitalism demands.

Those same people in charge seemly also are cozying up to degrowth which is at odds with historical capitalism. I don't think they have figured out what they want which is why the approach is schizophrenic --that want econ growth and degrowth, they want pop growth but also don't want growth so their bargain is to import the growth that they don't want...

Re: Are We Living in the Roaring 20s?

#26

Post by mantas »

hsyehbeidhh wrote: post #17
ddorian43 wrote: post #6

Whatever it is, it doesn't look good for young people. Good luck to them buying a house with these prices & interest rates, or trying to save for a downpayment while renting. The previous generation is hellbent on maximum extraction & I got mine mentality & rent-seeking.

[flagged]

> the Europeans that Russia is an enemy

Please. Russia is an enemy since forever. Sincerely, eastern europe.

If you don't agree with some stuff your government is aggressively pushing, it doesn't mean everything is simply reverse.

Re: Are We Living in the Roaring 20s?

#27

Post by arrowsmith »

pfdietz wrote: post #15
ddorian43 wrote: post #6

Whatever it is, it doesn't look good for young people. Good luck to them buying a house with these prices & interest rates, or trying to save for a downpayment while renting. The previous generation is hellbent on maximum extraction & I got mine mentality & rent-seeking.

My daughter just bought her first house.

So?

Re: Are We Living in the Roaring 20s?

#28

Post by mantas »

afavour wrote: post #24
hsyehbeidhh wrote: post #17

Earlier quoted context omitted.

[flagged]

> “You’ll own nothing and be happy”, remember? > They convinced young women that it’s a sign of independence to have an OF, the Europeans that Russia is an enemy, and half the western population that men can be women. The latter has absolutely zero to do with the former, it's just a grab bag of reactionary culture complaints (and the Russia one is just straightforwardly true). Which, ironically, is exactly what the g…

Catch-22. If you sign off on postmodern culture, you loose. If you argue over talking points of postmodern culture, you loose.

Re: Are We Living in the Roaring 20s?

#29

Post by xadhominemx »

francisofascii wrote: post #8

> Are We Living in the Roaring 20s? Yes, the post Flu/Covid effect, insane asset prices, vacations, etc. all line up. Shiller PE is at 34, which is higher than in 1929. I am somewhat optimistic we can experience a softer landing than The Great Depression. The Fed hinting a lower rates might be an indication of them understanding the risks of a crash. The problem is due to the systemic nature of the system, a boom can…

Are asset prices insane? Home prices are high but in-line with the long-term trend on a real basis. The stock market is rallying but it's been mostly becasue earnings are good. Why would you mention the great depression? To be honest it makes you seem unhinged and not credible.

Re: Are We Living in the Roaring 20s?

#30

Post by notact »

erellsworth wrote: post #21
mc32 wrote: post #11

Earlier quoted context omitted.

The people in charge want it both ways so they keep on printing money and funding several optional wars simultaneously. They've kicked consequences down the road and seemingly, the new budget approved, kicks it further down the road. That and you add 10MM new legal+illegal immigrants in the span of three years to the housing demand pool and it pushes citizens further away from housing attainability. It's nuts. Then y…

Birth rates in the US have been below replacement levels for some time now. This means we will need more immigrants to sustain the never ending growth capitalism demands.

The stock market may demand never ending growth, to keep generating positive returns. But how does capitalism itself (private ownership of production) demand never ending growth, any more than a planned economy would?
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