So, yes, I ‘m one of those financial inept ones and retired. We have a nice nest egg, paid off the house. I’ve read the same from others but with no answers. Resist. Right. With what? Take all my money out of the banks and IRAs and hide it in my home? The digital ID is coming and unless I ‘m living on an island I don’t see how to get around this. So explain.
That 50 yr mortgage idea is insane. I haven't looked into if for a while, but the Japanese were having something like 100 yr mortgages. Real estate in places like Tokyo have been astronomical. Smart folks will avoid like the plague. Great post, #2.
Insane? That’s what I thought about people who bought their house with an interest-only mortgage. (If you think about it, an interest-only loan is equivalent to a standard mortgage with an infinite term, which is a lot longer than 50 years). Yet, those people who “gambled” with that type of loan (gambled with the mortgage lender’s money, that is) often profited in a market of appreciating home prices. On the other hand, if the market depreciates, they just declare bankruptcy and walk away. This is what happened prior to the 2008 crash, but something tells me that there’s been no structural changes since then that would increase the moral hazard of the buyer. Higher interest rates would increase the cost of making the interest-only bet or even the 50 year bet, but that strategy itself is also a calculated gamble since some buyers may take a chance of refinancing in the future. Debtor’s prison is probably the only way to put an end to such speculation which drives up the cost for the “responsible” buyer.
Good points. Interest only sounds sketchy, but we had one of those low rates-until-balloon-payment mortgages on our first house. We did sell before the balloon was due--or we would have had to refinance, which, at the time, was still a pretty low rate. But our monthly probably would have gone up. When it comes down to it, we all have to take responsibility for our own choices.
That's a good analysis, and has anyone noticed that these politician criminals are still being paid during all of this fiasco?
Shouldn't they have stopped being paid too? Or is that too obvious?
Also notice that the only ones who were stopped from being paid were the ones who actually provide public services. Not the criminals who were deciding that.
Well, Oh My! Just in time to prevent the GOPee to nuke the filibuster because if they did nuke they wouldn't have an excuse not to get "America / Americans first" work done we demanded.
The senate and house must be working for someone other than the voters.
Another frustrating reminder that we are just hamsters on the wheel. As Rep. Massie and 2SGitW state in the post, the govt is illegal , unconstitutional, etc.... but it is entrenched , very real and very safe because ir is well protected from a complacent group of medicated, entitled fleas who can't risk Gulliver possibly falling on them. The only way to fix it is a total takedown of the fed and state govt.'s ability to tax but without even feckless police the criminals both legal and illegal would run amok, so what I'm saying is there is no way to fix this mess nicely, This shutdown hoax is theatre and like all the others before nothing will change and the uniparty will continue to steamroll towards its digital utopia. Sorry to be a Dave Downer but there is nothing to indicate that we have any elements necessary in this country to save / change it.
Right. And the media will be full of sky-is-falling, we’re losing everything, our democracy is going going gone type of articles. Meanwhile, as you say, the entrenched bureaucracy deep currents flow on undisturbed, waiting for a more progressive hand to bring them back to the surface once more.
The unapportioned income tax, whose ratification by the States was sketchy to begin with, is clearly, of dubious constitutionality ...but as an attorney, I would advise taxpayers to avoid that subject in front of a Federal judge...They are very touchy on that subject. and you might be held in contempt...The tax, of course, was passed to fund the big.war(s) they were planning to fight, and provide more goodies for the Federal bureaucracy....including Judges....
Saw a great piece where it said the GOP likes being the losers because they make tons of money fund raising while they tell you all the great stuff they are going to do.
Maybe. There are a lot of issues on the table, and Trump has been pretty good on some of them--border, etc. I'm not surprised at the GOP BS re. NOT really cutting spending, at least so far. They're mumbling about using tariffs to pay down the debt, but I'll believe it when I see it.
Typos somewhat edited.
A couple more typos edited.....
Apologies.
So, yes, I ‘m one of those financial inept ones and retired. We have a nice nest egg, paid off the house. I’ve read the same from others but with no answers. Resist. Right. With what? Take all my money out of the banks and IRAs and hide it in my home? The digital ID is coming and unless I ‘m living on an island I don’t see how to get around this. So explain.
Well, one VERY simple way to resist is to use cash at each and every opportunity.
And... explain to people why you're using cash. Most people have no idea about CBDCs and are actually against them; they simply don't know.
These are two easy ways to spread the word.
That 50 yr mortgage idea is insane. I haven't looked into if for a while, but the Japanese were having something like 100 yr mortgages. Real estate in places like Tokyo have been astronomical. Smart folks will avoid like the plague. Great post, #2.
Insane? That’s what I thought about people who bought their house with an interest-only mortgage. (If you think about it, an interest-only loan is equivalent to a standard mortgage with an infinite term, which is a lot longer than 50 years). Yet, those people who “gambled” with that type of loan (gambled with the mortgage lender’s money, that is) often profited in a market of appreciating home prices. On the other hand, if the market depreciates, they just declare bankruptcy and walk away. This is what happened prior to the 2008 crash, but something tells me that there’s been no structural changes since then that would increase the moral hazard of the buyer. Higher interest rates would increase the cost of making the interest-only bet or even the 50 year bet, but that strategy itself is also a calculated gamble since some buyers may take a chance of refinancing in the future. Debtor’s prison is probably the only way to put an end to such speculation which drives up the cost for the “responsible” buyer.
Good points. Interest only sounds sketchy, but we had one of those low rates-until-balloon-payment mortgages on our first house. We did sell before the balloon was due--or we would have had to refinance, which, at the time, was still a pretty low rate. But our monthly probably would have gone up. When it comes down to it, we all have to take responsibility for our own choices.
It will or work- prices will only rise!!
100% - the dems accomplished NOTHING in the longest shutdown in history.
Then again, the GOP also accomplished NOTHING.
Doesn't look our plan to reduce the federal bureaucracy is coming to much at this point.
Reducing the federal over reach by 100 is the only solution.
Meanwhile, this was a warning to any one on the federal dole that you need other options.
Except for those federal parasites and predators who will continue stealing until they are stopped.
Thank you for this very interesting and clear article, 2nd Smartest Guy!
Interesting analysis of our representatives, the insurance industry and Obamacare:
https://x.com/idontexistTore/status/1972677355316429038
That's a good analysis, and has anyone noticed that these politician criminals are still being paid during all of this fiasco?
Shouldn't they have stopped being paid too? Or is that too obvious?
Also notice that the only ones who were stopped from being paid were the ones who actually provide public services. Not the criminals who were deciding that.
Two horrible ideas!!!
Well, Oh My! Just in time to prevent the GOPee to nuke the filibuster because if they did nuke they wouldn't have an excuse not to get "America / Americans first" work done we demanded.
The senate and house must be working for someone other than the voters.
Another frustrating reminder that we are just hamsters on the wheel. As Rep. Massie and 2SGitW state in the post, the govt is illegal , unconstitutional, etc.... but it is entrenched , very real and very safe because ir is well protected from a complacent group of medicated, entitled fleas who can't risk Gulliver possibly falling on them. The only way to fix it is a total takedown of the fed and state govt.'s ability to tax but without even feckless police the criminals both legal and illegal would run amok, so what I'm saying is there is no way to fix this mess nicely, This shutdown hoax is theatre and like all the others before nothing will change and the uniparty will continue to steamroll towards its digital utopia. Sorry to be a Dave Downer but there is nothing to indicate that we have any elements necessary in this country to save / change it.
Right. And the media will be full of sky-is-falling, we’re losing everything, our democracy is going going gone type of articles. Meanwhile, as you say, the entrenched bureaucracy deep currents flow on undisturbed, waiting for a more progressive hand to bring them back to the surface once more.
The most recent trillion dollars added to the national debt took 71 days!
They only have 1 week, then it's Thanksgiving vacation time!
The unapportioned income tax, whose ratification by the States was sketchy to begin with, is clearly, of dubious constitutionality ...but as an attorney, I would advise taxpayers to avoid that subject in front of a Federal judge...They are very touchy on that subject. and you might be held in contempt...The tax, of course, was passed to fund the big.war(s) they were planning to fight, and provide more goodies for the Federal bureaucracy....including Judges....
So, what would you have liked to have happened?????
https://x.com/2ndSmartest/status/1973160260925051178
"SHUT IT DOWN. SLASH 90% OF FEDERAL GOV. AND ONLY THEN REOPEN."
100%
We are right back to business-as-usual and nothing achieved.
This is why the GOP will get slaughtered in next year's midterms.
Saw a great piece where it said the GOP likes being the losers because they make tons of money fund raising while they tell you all the great stuff they are going to do.
Uniparty.
Isn't it ironic that Team R always acts like they're the minority, even when they are the majority?
Maybe. There are a lot of issues on the table, and Trump has been pretty good on some of them--border, etc. I'm not surprised at the GOP BS re. NOT really cutting spending, at least so far. They're mumbling about using tariffs to pay down the debt, but I'll believe it when I see it.
Oh, I did enjoy that 'kabuki theater' jibe. You make me laugh.
"Senator John Fetterman was the most vocal Democrat opposing this shutdown."
When Stutterman is on the vanguard it must be good theater indeed.
Now is your chance folks, to be legends...
https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Ftse1.mm.bing.net%2Fth%2Fid%2FOIP.CSBLtmxEpKpIFOnn4a9sngHaHa%3Fpid%3DApi&f=1&ipt=58e6079ea36568d313d02dbc279b84e59da430470be9573c2d3074ebf33ae850&ipo=images