The democrats are going to do everything in their power to bail and hold on until midterms when they get smashed, Then it will be the Republicans fault with the economy.

People who over leveraged in the past few years on homes, stocks, coins are going to have their lives completely destroyed by this. IF you went through 08 and other downturns you full well knew that this was a worse bubble than before.

Very very tough lesson for a lot of young people which sadly in America with many having student loan debt will destroy their lives. But everyone who bought a home in the past 2 years is officially in negative equity I would say.

Nice try rentcel

Keep coping lol

This u op?



Rents due ****git

paid rent, but also received rent.

I like the flexability.

Lmao

Guess how I know you’re an uneducated pleb

2.5 years? Gonna be a lot longer than that

It's not just the US. lol if you think this "crisis" will ever end. 2019 was the last normal year we will have

Lulz

Won’t be nearly as bad as 08



But will be first recession for many

"What Biden can do to lower inflation — but stubbornly refuses to"

https://nypost.com/2022/05/11/what-b...ut-refuses-to/

excerpt:

Washington’s latest inflation report shows prices rising by 8.3% over the past year and core inflation (which excludes volatile food and energy prices) continuing to accelerate. Real wages have fallen 2.7%. Moody’s Analytics and Penn-Wharton estimate that inflation is costing the average household $300 per month. A Harris poll reveals that 84% of Americans are cutting back on key purchases. And the problem is deepening every month.

The Federal Reserve must lead the charge of reducing inflation. After dumping $4.8 trillion into the economy during the recession and continuing to buy mortgage-backed securities as recently as two months ago, the Fed is finally taking inflation seriously by raising rates and reducing its balance sheet. This will be painful but necessary.

Yet much more can be done. President Biden continues to insist that he is working tirelessly to reduce inflation, but his administration has worsened the problem and refused to make the difficult choices that may anger its allied interest groups.

There is a blueprint, however, for the president and Congress to help reduce inflation.

First, stop the spending spree. A major inflation driver was last year’s $1.9 trillion American Rescue Plan. At the time, the Congressional Budget Office estimated that the baseline economy would operate $420 billion below capacity in 2021 and then gradually close that output gap by 2025. While some stimulus was justified, lawmakers shot a $1.9 trillion bazooka at a $420 billion output gap. And this was just weeks after the December 2020 stimulus law poured in $900 billion. Economists on the left and right, such as Lawrence Summers, warned this excessive stimulus would bring inflation. They were right.

Despite that momentous policy error, Biden continues to support a Build Back Better extravaganza that would cost trillions of dollars. And he inexplicably claims all this federal spending would decrease inflation. Congress should be reining in excess stimulus and spending, not adding more.

Second, reverse other inflation-causing policies. The Biden administration has hiked tariffs on Canadian lumber and added tariffs on other building materials. It renewed President Donald Trump’s tariffs on solar panels, extended the tariffs on Chinese imports and imposed tariff quotas on steel. It imposed Buy American provisions raising the cost of infrastructure and is working to expand Davis-Bacon policies that raise the cost of government contracts.

The White House is defending the Jones Act, which raises shipping costs, and allowing a higher ethanol blend in gasoline that will increase food prices. It has also deferred student loan payments well past the point justified by the unemployment rate. Lastly, the White House imposed expensive new environmental regulations that will significantly delay and raise the cost of infrastructure, undermining last year’s $550 billion infrastructure law.

Biden also has severely constrained oil, coal and natural gas exploration with a series of moratoriums, permitting regulations and economic reforms to discourage investment in fossil-fuel companies. Unless reversed, this will contribute to long-term energy inflation, especially as we import less from Russia.

Advocates defend these policies as achieving other important goals. But cumulatively, they significantly worsen an inflation problem that is already sinking under the weight of fiscal policy, monetary policy, supply chain disruptions and the war in Ukraine. The Peterson Institute for International Economics calculates that even a 2 percentage-point reduction in tariffs could lower inflation 1.3% and save $800 per household a year.....

biden deserves a beating

Lol rentcels when will they learn?

First, Build Back Better didn't pass and Biden isn't increasing spending.

Second, Biden is removing tariffs.

Third, oil companies aren't at 100% production on land they already have permits and leases to drill on. They aren't even back to 2019 production.

Fail. Fail. Fail. But what do you expect from the NYPost?

Down 23% on my portfolio!

Good news is I only had < 1k in it as I started this year lol.

Housing doesn't really matter bought a house this year but locked in 5 year fixed rate before interest rates rose

This, at least for RE. There will certainly be a correction but not insane **** like 20-30% (unless you bid way over like a moron).

Stocks are a wild card. I'm expecting another 10% at least but I'm no analyst.

Lol at thinking elections matter

Lol at thinking the value of dollars compared to all of those things will increase when they are still printing money at an accelerated rate

Another day, another doomer thread from geezer

it;s over for rentcels