mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 6 minutes ago, FISHHEAD said: ............perhaps why we may only see a 50 basis points rise today IMO(probably 75 though) Wharton economist Jeremy Siegel said the Federal Reserve should raise interest rates by 100 basis points. I've heard several people say go the whole pt. Apparently Powell by nature is a pussy that's incapable of bold action, he will always take small timid steps. We'll see what happens later. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 2 minutes ago, mikeman said: I've heard several people say go the whole pt. Apparently Powell by nature is a pussy that's incapable of bold action, he will always take small timid steps. We'll see what happens later. Thought 50 four days ago.........but would say 75 basis points is the prohibitive favorite currently. 75----50----100 (in that order) Quote Link to comment Share on other sites More sharing options...
WVU Posted June 15, 2022 Report Share Posted June 15, 2022 Tent city is in tatters. A few members have reupped and are continuing to lose their ass. Personally, I have taken a beating on nearly all fronts. Years of profits wiped away. My net worth dropped 30% ytd and that includes real estate gains. Remaining assets are worth about 8% less in real value but the smarter side of me knows that inflation is really well into double digits. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted June 15, 2022 Report Share Posted June 15, 2022 5 minutes ago, WVU said: Tent city is in tatters. A few members have reupped and are continuing to lose their ass. Personally, I have taken a beating on nearly all fronts. Years of profits wiped away. My net worth dropped 30% ytd and that includes real estate gains. Remaining assets are worth about 8% less in real value but the smarter side of me knows that inflation is really well into double digits. unfortunately i'm with you there... and we will probably never work again so it's extra painful down 30%+ and inflation at 10%+ so pretty much half of my wealth has evaporated in 6 months Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 ............at least you guys have your health. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 Net worth has increased here last 9 months...............but in bad health, unhappily married, and don't like where living. HOPE THIS CHEERS YOU FELLAS UP............ Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 1 minute ago, FISHHEAD said: Net worth has increased here last 9 months...............but in bad health, unhappily married, and don't like where living. HOPE THIS CHEERS YOU FELLAS UP............ What's wrong with your health? Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 3 minutes ago, mikeman said: What's wrong with your health? Just turned 62, to numerous to mention. ☠️ Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 7 minutes ago, FISHHEAD said: Just turned 62, to numerous to mention. ☠️ that's not good, all i have is high blood pressure and stomach acid issues.. Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 5 minutes ago, mikeman said: Good one Quote Link to comment Share on other sites More sharing options...
Dingo Posted June 15, 2022 Report Share Posted June 15, 2022 12 minutes ago, mikeman said: This will royally fuck a lot of people here Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 2 minutes ago, Dingo said: This will royally fuck a lot of people here Get ready because interest rate increases mean todays 6% mortgages(which are on the verge of crashing housing) will be 8-9% fairly soon. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 12 minutes ago, Dingo said: This will royally fuck a lot of people here Quote Link to comment Share on other sites More sharing options...
Dingo Posted June 15, 2022 Report Share Posted June 15, 2022 3 minutes ago, mikeman said: Get ready because interest rate increases mean todays 6% mortgages(which are on the verge of crashing housing) will be 8-9% fairly soon. I will be fine,it’s the younger generation that got accustomed to cheap money that will lose their houses.I have paid as much as 14 % on my mortgages and probably would average around 8% over my lifetime of indebtedness.Some people here owe a million dollars on their properties,every 1 % increase in interest rates would be ~800.00 more per month in payments Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 My first house I paid 9.5% and thought I was lucky to get in that low. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 4 minutes ago, mikeman said: My first house I paid 9.5% and thought I was lucky to get in that low. 7.8% highest ever here............ Quote Link to comment Share on other sites More sharing options...
Dingo Posted June 15, 2022 Report Share Posted June 15, 2022 2 minutes ago, mikeman said: My first house I paid 9.5% and thought I was lucky to get in that low. I remember in the early 80s,interest hit 21% here.Saw a lot of people lose their homes to the banks.Looks like history might repeat itself Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 STOCKS and CRYPTO both on the move UP early in the day................... Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 2 minutes ago, Dingo said: I remember in the early 80s,interest hit 21% here.Saw a lot of people lose their homes to the banks.Looks like history might repeat itself Of course i paid $72,900 for my first house, the amortization table on that isn't so bad. the difference in interest paid per year between 9% and 11% is only $100 month. Quote Link to comment Share on other sites More sharing options...
Dingo Posted June 15, 2022 Report Share Posted June 15, 2022 1 minute ago, mikeman said: Of course i paid $72,900 for my first house, the amortization table on that isn't so bad. Houses were cheap here in the 80s,people live beyond their means is the bigger problem Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 1 hour ago, mikeman said: Of course i paid $72,900 for my first house, the amortization table on that isn't so bad. the difference in interest paid per year between 9% and 11% is only $100 month. My friend just bought a 2400 sq foot in my hometown for $26,999.............welcome to hicksville USA Quote Link to comment Share on other sites More sharing options...
mikeman Posted June 15, 2022 Report Share Posted June 15, 2022 1 minute ago, FISHHEAD said: My friend just bought a 2400 sq foot in my hometown for $26,999.............welcome to hicksville USA Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted June 15, 2022 Report Share Posted June 15, 2022 Actually was a decent home with full basement.........guessing built in the 1930's. Will find out or even try to get a photo Quote Link to comment Share on other sites More sharing options...
Dingo Posted June 17, 2022 Report Share Posted June 17, 2022 https://cryptosrus.com/how-scared-should-you-be-of-rehypothecation/ Quote Link to comment Share on other sites More sharing options...
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