The Stock Market Is Not The Economy Thread II

[Ayn]

Anecdotal, but I bought my house when the market was an absolute shit show, house prices were overpriced and would be on the market for about a day, if they even hit the market...but interest rates were 2.5%.

Feds raised rates, mortgage interest rates spiked to 6%. I expected home values to plummet.

Nope, home values in the area are about 7% higher than when I purchased 13 months ago despite interest rates doubling. Great for me. My kids are fucked. And I guess I'm never moving.

Similar situation.

Have some younger family members that saw me do it and are suddenly thinking they can.

I'm like "What? No. You have less income and job prospects."

[Meresgi]

Similar situation.

Have some younger family members that saw me do it and are suddenly thinking they can.

I'm like "What? No. You have less income and job prospects."

I make a decent 6 figure income, saw my grandmother's old house went on market suddenly near my mom, figured I would purchase it and rent it to my brother. We're talking boonies upstate NY (between Albany and Syracuse and a bit north of the thruway). House value? $150k...fucking shit was like $70k only a handful of years ago. Still not too steep and I looked into it. Interest rates alone would mean rent would have to be $1200 in fucking upstate NY where the average salary is like $15k a year....and the house sold within a week. Fucking insanity. Granted now I could have gotten it for myself and paid that rent easily since I can telework but i'm not moving back to shitsville NY ever lol.

[Zealot]

The further north you go from Albany the less remaining in New York becomes worth it, and it's barely worth it to be in Albany.

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[Meresgi]

The further north you go from Albany the less remaining in New York becomes worth it, and it's barely worth it to be in Albany.

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I remember listening to "Was I in a Cult" podcast about Nexium and they mentioned it being centered in Albany and I blurted out "Fucking why?!". Place was a shit hole and Crossgates mall sucks ass.

[Zealot]

They've got a used video game store in there that has some good finds every now and then.

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[Zealot]

Meta to cut another 10,000 jobs and let 5,000 vacancies go unfilled.

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[Mayareira]

Wall Street loves it when meta fires people.

Up for 6-7% today, my gains are about 60% in last 2-3 months. With shares skyrocketing each and every time no wonder they are so trigger happy.

[Spicyryan]

Wall Street loves it when meta fires people.

Up for 6-7% today, my gains are about 60% in last 2-3 months. With shares skyrocketing each and every time no wonder they are so trigger happy.

It leads to a belief of short term gains returned to shareholders after mass firings.

[zoobernut]

Wall Street loves it when meta fires people.

Up for 6-7% today, my gains are about 60% in last 2-3 months. With shares skyrocketing each and every time no wonder they are so trigger happy.

Wall Street loves it when the majority of people have less money. General public has more money = inflation, higher and higher profits for companies = healthy economy.

[Andalusian girls]

groundbreaking stuff

[zoobernut]

groundbreaking stuff

Totally surprising and unexpected.

[Spicyryan]

Thems the brakes with capitalism.

[zoobernut]

Privatize the gains, socialize the losses.

[Meresgi]

Should have just been born into a wealthy family duh.

Entrepreneurship is like one of those carnival games where you throw darts or something.
Middle class kids can afford one throw. Most miss. A few hit the target and get a small prize. A very few hit the center bullseye and get a bigger prize. Rags to riches! The American Dream lives on.

Rich kids can afford many throws. If they want to, they can try over and over and over again until they hit something and feel good about themselves. Some keep going until they hit the center bullseye, then they give speeches or write blog posts about "meritocracy" and the salutary effects of hard work.

Poor kids aren't visiting the carnival. They're the ones working it.

[Spicyryan]

You know, to everyone's credit. The forums aren't always that far from real life. Liberal got upset at me for saying Biden doesn't do shit about healthcare during a conversation that drifted from the failed banks. Blah blah blah: "Trump wasn't giving you any, and you don't have any solutions." I said the solution is to provide healthcare, and while they are at it make education and housing a right.

So they called me a communist. The end.
Felt like I was living momentarily in BG post.

It started with them "not sure how they feel about Biden's response to the banks." And ends as expected. Hmm, must be me.

[archibaldcrane]

Hmm, must be me.

Yes

[Melena]

Ahh yes, because Biden has a magic wand and whatever he speaks must be done. What spicy is looking for is a dicatorship.

[Spicyryan]

Yes

I thought you'd like that.

Ahh yes, because Biden has a magic wand and whatever he speaks must be done. What spicy is looking for is a dicatorship.

We already live under a dictatorship of capital. So, change would be good.

[thetruepandagod]

the only right you should have is paying rent to me tbh

[Dimmauk]

You know, to everyone's credit. The forums aren't always that far from real life. Liberal got upset at me for saying Biden doesn't do shit about healthcare during a conversation that drifted from the failed banks. Blah blah blah: "Trump wasn't giving you any, and you don't have any solutions." I said the solution is to provide healthcare, and while they are at it make education and housing a right.

So they called me a communist. The end.
Felt like I was living momentarily in BG post.

It started with them "not sure how they feel about Biden's response to the banks." And ends as expected. Hmm, must be me.

BG can be a great resource for real life encounters with morons. I've had so many conversations in real life that we have had on BG, and I was so fucking ready for it.

Thanks BG, you've made me look smart in real life for over a decade now.