31–40 of 203 posts
Actually the biggest blow was not the energy costs, but the interest rates. They went from 1-2% now at 4-5, even 6% for real-estate ( new building and old ) while the prices are still at last year level. For other types of financing, I had a "good" offer which went to 12% interest. I felt like in a 3rd world country. With such expensive money, nothing will be done. The construction economy is really going dow from mi…
https://www.marketwatch.com/amp/story/inside-germanys-indust...
Earlier quoted context omitted.
stagflation...its in Germany, coming to the US...there is only one way out: we get poorer
The US is not getting poorer nor is inflation still out of control
then why am I being asked to bail out a generation's college loans?
then why is food bank use at an all time high?
then why are more six-figure earners reporting to be living paycheck-to-paycheck?
then why is personal credit card debt at an all time high?
Earlier quoted context omitted.
>The ECB has a real problem with asymmetry. Can't cut rates just for Germany. It's as if a single currency and a single central bank for 25 different economies with different levels of debt, doesn't really work that well in every situation. > At the same time there's high inflation in Austria Inflation in Austria is now mostly due to greedflation. If you cross the border into Germany the same goods are suddenly cheap…
A monetary union without a fiscal union doesn't really make sense, imo. The US (mostly) works because states run balanced budgets(if you ignore underfunded pensions) and the federal govt corrects trade imbalances by taking money from some states and sending it to others. Economists in the EU must have understood this and if I had to guess they assumed a fiscal union would develop at some point?
They almost certainly did, there are two other groups who may not have done - European politicians ... and European voters.
Although it's more likely that politicians did understand it, but were reluctant to talk about, at least in front of the voters.
Earlier quoted context omitted.
Was it really a benefit? The only benefit is belief that Germany won't let euro fail and will bailout anybody no matter how shitty situation is. On the other side, this prevents fixing root causes. Why fix anything and make people angry if you can ride the wave, hope for the best and in worst case someone will bail you out? That's why we have this massive inflation. No real value is created, yet everybody is flush wi…
>That's why we have this massive inflation. No real value is created, yet everybody is flush with the money. Indeed. Most of EU's economic growth since the 2008 crash was just printing money and propping up assets. A bunch of wealthy boomers buying expensive houses from one another does not mean actual economic prosperity. We just printed our way into prosperity but Covid supply chain disruptions, the energy shortage…
Who cares if everybody and his or her dog can discuss emotional intelligence, yet we end up relying on China more and more? Both to import crucial stuff and export crappy extravaganza nobody else is buying.
The green whatever plan is great example. Let's fuck over our farmers and kick out remaining manufacturing. Just to pretend we're soooo environment-friendly. And then import fuckton of stuff from far away. Thankfully there will be CO2 import tax. But CO2 regulations is not the only thing curbing local economies while faking low CO2 reports in far away countries may be a lucrative industry...
Actually the biggest blow was not the energy costs, but the interest rates. They went from 1-2% now at 4-5, even 6% for real-estate ( new building and old ) while the prices are still at last year level. For other types of financing, I had a "good" offer which went to 12% interest. I felt like in a 3rd world country. With such expensive money, nothing will be done. The construction economy is really going dow from mi…
I had a brief interaction with a real estate agent a few months back and he told me they really have trouble selling houses now at those interest rates. The run on housing apparently has dialed back significantly. He also mentioned that he thinks in around 5 and 10 years time the market might be flooded with houses people bought at low interest rates because they will not be able to pay their mortgage at these new in…
Actually the biggest blow was not the energy costs, but the interest rates. They went from 1-2% now at 4-5, even 6% for real-estate ( new building and old ) while the prices are still at last year level. For other types of financing, I had a "good" offer which went to 12% interest. I felt like in a 3rd world country. With such expensive money, nothing will be done. The construction economy is really going dow from mi…
The energy cost might be the cause of that interest rate though.
Actually the biggest blow was not the energy costs, but the interest rates. They went from 1-2% now at 4-5, even 6% for real-estate ( new building and old ) while the prices are still at last year level. For other types of financing, I had a "good" offer which went to 12% interest. I felt like in a 3rd world country. With such expensive money, nothing will be done. The construction economy is really going dow from mi…
I had a brief interaction with a real estate agent a few months back and he told me they really have trouble selling houses now at those interest rates. The run on housing apparently has dialed back significantly. He also mentioned that he thinks in around 5 and 10 years time the market might be flooded with houses people bought at low interest rates because they will not be able to pay their mortgage at these new in…
And, I'll eat my hat if we don't get back to ZIRP sometime in the next 10 years.
Earlier quoted context omitted.
I had a brief interaction with a real estate agent a few months back and he told me they really have trouble selling houses now at those interest rates. The run on housing apparently has dialed back significantly. He also mentioned that he thinks in around 5 and 10 years time the market might be flooded with houses people bought at low interest rates because they will not be able to pay their mortgage at these new in…
If things continue, in 5-10 years, dollars will be worth 50 cents, and it should be MUCH easier to pay your mortgage. And, I'll eat my hat if we don't get back to ZIRP sometime in the next 10 years.