ot. america is pissed off.

User Forum Topic
Submitted by scaredyclassic on November 8, 2016 - 9:41pm

Submitted by spdrun on November 8, 2016 - 9:45pm.

The Middle American equivalent of the L.A. Riots? Let's burn everything down to teach the rich a lesson. Smart.

Submitted by zk on November 8, 2016 - 9:48pm.

America is emotionally weak. They have been manipulated.

Submitted by an on November 8, 2016 - 9:50pm.

Hope and Change 12 years in a row. Seems like it's a winning message LoL.

Submitted by scaredyclassic on November 8, 2016 - 9:52pm.

on the bright side...

gold futures are up.
no more bitching about hillary.
may release some pentup rage, at least temporarily.
maybe declibe of anerica is good for the world?
could be entertaining if world doesnt end.

Submitted by ltsddd on November 8, 2016 - 10:00pm.

Get ready for double-digit unemployment and inflation. It's going to be the fvcked up 1980s again. I am going to put off buying that next investment property for the next few years.

Submitted by an on November 8, 2016 - 10:03pm.

ltsdd wrote:
Get ready for double-digit unemployment and inflation. It's going to be the fvcked up 1980s again. I am going to put off buying that next investment property for the next few years.

That would be fucking AWESOME if we see double digit inflation :-D.

As for double digit unemployment, do you think we'll see another great Recession? If so, will we also see dirt cheap housing again? Doesn't sound too bad to me.

Submitted by all on November 8, 2016 - 10:04pm.

Wolf reminds me of Rove 4 years ago.

Regardless of the outcome measured in electoral votes, I'd say Americans are as happy with their elite as Brits were with theirs, Algerians with theirs, etc...

Submitted by ucodegen on November 8, 2016 - 10:07pm.

AN wrote:
ltsdd wrote:
Get ready for double-digit unemployment and inflation. It's going to be the fvcked up 1980s again. I am going to put off buying that next investment property for the next few years.

That would be fucking AWESOME if we see double digit inflation :-D.

As for double digit unemployment, do you think we'll see another great Recession? If so, will we also see dirt cheap housing again? Doesn't sound too bad to me.


Humm high inflation.

OK to Good for stock investors - since price will at a min track inflation.
Good for debtors - pay off with inflated dollars
Bad for cash - worth much less
Bad for fixed income, bonds - inflation wiping out interest payments.

House prices will probably remain same with everything else rising to meet the house prices.

Submitted by ucodegen on November 8, 2016 - 10:11pm.

For those that like metrics...

http://www.nytimes.com/elections/results...

Updates continually, can select by county or State. Hovering over state gives specifics - need JavaScript running. They seem to be a bit ahead of the broadcast news.

Submitted by an on November 8, 2016 - 10:11pm.

ucodegen wrote:
Humm high inflation.

OK to Good for stock investors - since price will at a min track inflation.
Good for debtors - pay off with inflated dollars
Bad for cash - worth much less
Bad for fixed income, bonds - inflation wiping out interest payments.

House prices will probably remain same with everything else rising to meet the house prices.

Yep, that's exactly why I'm giddy at the thought of double digit inflation. Would be awesome if I can afford my mortgage on a minimum wage job. Or better yet, the rent I can fetch will allow me to retire.

Submitted by zk on November 8, 2016 - 10:38pm.

ltsdd wrote:
Get ready for double-digit unemployment and inflation. It's going to be the fvcked up 1980s again. I am going to put off buying that next investment property for the next few years.

Why do you see double-digit inflation in a trump presidency?

Submitted by ltsddd on November 8, 2016 - 10:47pm.

zk wrote:
ltsdd wrote:
Get ready for double-digit unemployment and inflation. It's going to be the fvcked up 1980s again. I am going to put off buying that next investment property for the next few years.

Why do you see double-digit inflation in a trump presidency?

Increased spending with little or no real economic growth leads to the devaluation of our currency which will ultimately leads to inflation.

Submitted by scaredyclassic on November 8, 2016 - 11:19pm.

im even sad about legal weed. the country is a bummer. i dont even wanna get high in a country with such bad vibes.

im just gonna,drink.

Submitted by ucodegen on November 9, 2016 - 12:12am.

scaredyclassic wrote:
im even sad about legal weed. the country is a bummer. i dont even wanna get high in a country with such bad vibes.

im just gonna,drink.


Maybe some magic mushrooms - helps when you feel real small..

The Hookah Smoking Caterpillar

Submitted by scaredyclassic on November 9, 2016 - 12:26am.

ucodegen wrote:
scaredyclassic wrote:
im even sad about legal weed. the country is a bummer. i dont even wanna get high in a country with such bad vibes.

im just gonna,drink.


Maybe some magic mushrooms - helps when you feel real small..

The Hookah Smoking Caterpillar

pretty sure trump will. shut down legal weed anyway...

or giuliani will. no, these times call for plain old booze

Submitted by spdrun on November 9, 2016 - 12:31am.

Unclear... Trumpkin actually seems more open-minded on the matter than one would assume:

http://www.businessinsider.com/where-don...

Submitted by scaredyclassic on November 9, 2016 - 12:45am.

spdrun wrote:
Unclear... Trumpkin actually seems more open-minded on the matter than one would assume:

http://www.businessinsider.com/where-donald-trump-stands-on-weed-legalization-2016-11

yeah, but hes got to criminalize abortion, and weed seems like it might as well get thrown in there...your uterus is trump territory now.

on the other hand, weed is big business, so maybe ....

if donald is pro weed, i hate weed.

Submitted by svelte on November 9, 2016 - 1:00am.

Totally, totally shocked by this outcome.

Also totally not a Trump fan, and I think the American public has been duped.

But I'm willing to be open minded and give him a chance. He is now our President. Let's see what he's got. Congratulations to our new leader.

Submitted by scaredyclassic on November 9, 2016 - 1:07am.

svelte wrote:
Totally, totally shocked by this outcome.

Also totally not a Trump fan, and I think the American public has been duped.

But I'm willing to be open minded and give him a chance. He is now our President. Let's see what he's got. Congratulations to our new leader.

ok. lets do it. lower my taxes.

Submitted by svelte on November 9, 2016 - 1:48am.

scaredyclassic wrote:
svelte wrote:
Totally, totally shocked by this outcome.

Also totally not a Trump fan, and I think the American public has been duped.

But I'm willing to be open minded and give him a chance. He is now our President. Let's see what he's got. Congratulations to our new leader.

ok. lets do it. lower my taxes.

...while balancing the budget. Isn't that what the Republicans want?

Submitted by ucodegen on November 9, 2016 - 2:46am.

scaredyclassic wrote:
ucodegen wrote:
scaredyclassic wrote:
im even sad about legal weed. the country is a bummer. i dont even wanna get high in a country with such bad vibes.

im just gonna,drink.


Maybe some magic mushrooms - helps when you feel real small..

The Hookah Smoking Caterpillar

pretty sure trump will. shut down legal weed anyway...

or giuliani will. no, these times call for plain old booze


What I have found about the current version of weed, it is not like the '60s and '70s weed. It is around 10 times stronger and can cause onset schizophrenia. I have been dealing with someone has in the past become addicted to weed. We've gotten the person clean, finally. Now that it is legal, we are now worried about what will now happen. In the past, this person has shown no ability to moderate use.

If this was the '60s and '70s weed, I would not have a problem with people using it. This stuff today is a different matter all together. Colorado's warning are worth noting.

Submitted by scaredyclassic on November 9, 2016 - 6:53am.

svelte wrote:
scaredyclassic wrote:
svelte wrote:
Totally, totally shocked by this outcome.

Also totally not a Trump fan, and I think the American public has been duped.

But I'm willing to be open minded and give him a chance. He is now our President. Let's see what he's got. Congratulations to our new leader.

ok. lets do it. lower my taxes.

...while balancing the budget. Isn't that what the Republicans want?

kind of. except upper middle dudes in the 200 to 400 k will pay about the same. only big big earners get a cut

Submitted by scaredyclassic on November 9, 2016 - 6:54am.

ucodegen wrote:
scaredyclassic wrote:
ucodegen wrote:
scaredyclassic wrote:
im even sad about legal weed. the country is a bummer. i dont even wanna get high in a country with such bad vibes.

im just gonna,drink.


Maybe some magic mushrooms - helps when you feel real small..

The Hookah Smoking Caterpillar

pretty sure trump will. shut down legal weed anyway...

or giuliani will. no, these times call for plain old booze


What I have found about the current version of weed, it is not like the '60s and '70s weed. It is around 10 times stronger and can cause onset schizophrenia. I have been dealing with someone has in the past become addicted to weed. We've gotten the person clean, finally. Now that it is legal, we are now worried about what will now happen. In the past, this person has shown no ability to moderate use.

If this was the '60s and '70s weed, I would not have a problem with people using it. This stuff today is a different matter all together. Colorado's warning are worth noting.

freedom. it is scary. i expect less of it.

Submitted by CA renter on November 9, 2016 - 7:57pm.

ltsdd wrote:

Increased spending with little or no real economic growth leads to the devaluation of our currency which will ultimately leads to inflation.

This is what we got under Bush and Obama (thanks largely to the Federal Reserve). What we need is deflation so that we can reset our economy and put the brakes on the speculative excesses that drive up prices (but not wages, because those are not "investments" that will benefit the investors). We've experienced a gross misallocation of resources, and the resulting price/cost inflation (outside of wages) has eroded the purchasing power of millions of Americans and millions (billions?) of working people and fixed-income recipients around the world.

Submitted by bobby on November 9, 2016 - 8:49pm.

I think it was 8.
Veedub was not hope and change.

Submitted by harvey on November 9, 2016 - 8:52pm.

CA renter wrote:
This is what we got under Bush and Obama (thanks largely to the Federal Reserve). What we need is deflation so that we can reset our economy and put the brakes on the speculative excesses that drive up prices (but not wages, because those are not "investments" that will benefit the investors). We've experienced a gross misallocation of resources, and the resulting price/cost inflation (outside of wages) has eroded the purchasing power of millions of Americans and millions (billions?) of working people and fixed-income recipients around the world.

Because when the price of everything else is going down, the cost of labor will stay the same.

Employers will just keep issuing those paychecks...

Submitted by CA renter on November 11, 2016 - 12:18am.

harvey wrote:
CA renter wrote:
This is what we got under Bush and Obama (thanks largely to the Federal Reserve). What we need is deflation so that we can reset our economy and put the brakes on the speculative excesses that drive up prices (but not wages, because those are not "investments" that will benefit the investors). We've experienced a gross misallocation of resources, and the resulting price/cost inflation (outside of wages) has eroded the purchasing power of millions of Americans and millions (billions?) of working people and fixed-income recipients around the world.

Because when the price of everything else is going down, the cost of labor will stay the same.

Employers will just keep issuing those paychecks...

http://www.investopedia.com/terms/s/stic...

Submitted by harvey on November 11, 2016 - 9:38am.

CA renter wrote:

http://www.investopedia.com/terms/s/sticky-wage-theory.asp

Right, we absolutely need to base economic policy on an unproven theory you found on the internet. Did you notice that there isn't a single historical example in that article?

Since this is a real-estate board, here's a question about your deflation solution:

What happens when millions of homeowners see the value of their home decline below the outstanding balance on their mortgage?

What happens when property tax revenue decreases?

Oh wait...I just watched this show...

Submitted by spdrun on November 11, 2016 - 10:45am.

In most places outside of California, property tax millage rates are adjustable as a % of value, so revenue might not decline. If there's no gov't help for banks/homeowners, I'd suspect that banks would be forced to write down loans vs foreclosing.

Submitted by CA renter on November 13, 2016 - 2:44am.

harvey wrote:
CA renter wrote:

http://www.investopedia.com/terms/s/sticky-wage-theory.asp

Right, we absolutely need to base economic policy on an unproven theory you found on the internet. Did you notice that there isn't a single historical example in that article?

Since this is a real-estate board, here's a question about your deflation solution:

What happens when millions of homeowners see the value of their home decline below the outstanding balance on their mortgage?

What happens when property tax revenue decreases?

Oh wait...I just watched this show...

1.) Investopedia doesn't write articles. It's an encyclopedic source of information that is geared toward economic terms, definitions and explanations.

2.) Once again, you might indulge in a little bit of "finding information on the internet" yourself before embarrassing yourself when you post comments that show a clear lack of understanding about a particular subject.

It's odd that someone who claims to have advanced degree(s) from top universities wouldn't know how to research something, even if that means doing a cursory search on the internet.

So, here's a new bit of information for you, Mr. Finance Expert:

"Downward nominal wage rigidities, wage growth, and unemployment

Downward nominal wage rigidities are a well-documented feature of the U.S. labor market (see, for example, Akerlof, Dickens, and Perry 1996 and Card and Hyslop 1996). With that in mind, Daly and Hobijn (2014) introduce a model to illustrate how such rigidities can affect the relationship between unemployment and wage growth. Downward rigidities prevent businesses from reducing wages as much as they would like following a negative shock to the economy."

http://www.frbsf.org/economic-research/p...

[FYI, all economic theories are theories, and many of these theories have never been proven in real life. That being said, the "stickiness of wages" during downturns is a well-known and well-documented occurrence. I'll leave it up to you to read the original studies quoted here...or, does the Federal Reserve Bank not count as an acceptable source of information for you, either?]

3.) What happens when the value of people's homes drops below what they owe? In a normal market where mortgages were properly underwritten, and where people put 20% down on a property, not much happens at all. The only thing that changes is the number of short sales (they obviously increase), where people sell their home for less than they owe, for those who need to sell their homes during the downturn.

Most people who purchase a home with the expectation of living in it (as opposed to speculating on its value) will not change their behavior much at all if they don't intend to sell it.

The reason that so many people walked away from their homes after the bubble popped was because they had stretched their finances so thinly, so they were relying on non-stop appreciation which enabled them to use their homes as low-interest-rate credit cards by cash-out refinancing and HELOC'ing their homes every year. They would then use that money to pay for basic necessities, including their mortgage payments.

No appreciation >>> no increasing their credit limits >>> no mortgage payments. It was easy to forecast what was going to happen, even when all the "experts" were saying that people wouldn't walk away from their homes and mortgage obligations.

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