281–290 of 465 posts
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All it takes to "undo" it is for inflation to slow down (already happening/happened), and wages to increase a little faster than inflation. A few years of that, and it will effectively be as if never happened (in aggregate, anyway).
No, that simply isn't possible. Slowing inflation means price continuing to rise.
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>When you apply for a mortgage you are informed in advance that it might be sold. Ok, and where can I go get the mortgages that won't be sold and have comparable financing terms to the ones that do? Oh wait, those don't exist (or cost way more)? Hmm. I see. Here's the thing: free markets can only ever hope to work in a world where people have total freedom of association. If I can't take my business elsewhere, then I…
> Ok, and where can I go get the mortgages that won't be sold and have comparable financing terms to the ones that do? Why should they exist? If they can't be sold, the lender needs to find some other way to make their money on them. What kind of sane economic system would deliver mortgages like that? Should the government subsidize all mortgages?
I think that's how mortgages were before the 1970s. The bank lent some money and accepted the payments. They didn't sell the mortgage to anyone.
Selling and securitizing mortgages is how 2008 happened. Maybe the old system was better in that way. Again I'm not an expert, so I don't know the side-effects of doing that.
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// You'll surely make it if you just "work hard enough," wink wink. Working a 9-5 career is (and has been) a net negative ROI for at least 2 decades, if not more. Counterpoint - tech professional about 20 years out of college. Just bought a house in a nice suburb of NYC and all my neighbors are likewise working professionals. Some are in medicine, some in tech, some in things like construction management and educatio…
I mean you’re a gen X-er, it makes sense that you have zero idea what people that graduated college in 2008 went through. For context, people that had degrees in comp sci were working as Best Buy’s Geek Squad. On the bright side, you timed the dot-com dip perfectly!
If you aren't talking about genx then what is your 20 year comment about?
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> To be completely honest, this is why I'm on HN: doing your own startup is one of the few relatively low risk gambles one can take. This take is relatively…naive Most startups fail and you would be much better off “grinding LeetCode and working for a FAANG” (tm r/cscareerquestions). That’s just like people “starting their own business” and buying a franchise where their net profit is less than $70K a year and that’s…
I disagree on a number of levels, but especially because big tech valuations were propped up by QE over the past 10 years, Tesla being the poster child there. But Amazon, Google, etc. have all been impacted by macro elements. So that “TC” people brag about has been heavily subsidized by the FED. The irony of calling me naive when not even understanding macroeconomic effects is… something.
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I agree 100%; what can a layman like me do to fix it?
You’re not going to like my answer. I don’t like my answer. It’s never ending work. Always vote, run for office if you can, and/or become and stay engaged as a citizen activist. See something? Report it to regulators. Think something’s up? Go digging. Engage with other folks who are doing the same and provide logistical support if able to. I spend thousands of dollars a year on FOIA fees and attorney opinion and corr…
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I teach my kids that we shoot thieves dead as permitted by law. Let’s hope my kids never run into the kids who were taught “stealing is okay sometimes.” You steal, you rob, you assault, you die. It’s very simple.
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Happy to answer but I don't understand the question!
I meant if there are 2 posts that you merge, do you also merge the upvote count (maybe by doing a union on the two sets of upvoters)?
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In the US I bet any farmer who sprays police with milk would be instantly shot
Two years ago, we had protesters literally set police precinct on fire, and not only nobody got shot, but in fact nobody faced any consequences.
I feel so much cognitive dissonance realizing that there are hard working people literally losing their home and shelter wrongly while I might be sitting across from them at any time, expecting them to behave within normal social boundaries. Imagine a family with a new born, working 50+ hours at a physically demanding job, making $80k/yr combined, and then losing their home for no reason... and then being expected to…
https://demodexio.substack.com/p/should-a-system-of-voting-a...
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Please don't create accounts to break HN's rules with. It will eventually get your main account banned as well.