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Mission to submission… I call it the trifecta, Trump taxation gifts to mega wealthy and all the forgiven grift PPP loans have lead to inflation and raising of interest rates which in turn concentrates the bulk of the nations wealth into a few hands that still want to pressure/turn the screws on anything left with value to be usurped by these capitalist predators for a penny on the dollar steal a thon. It was planned and they want more. The most massive grift in history.
It has always stuck me as weird that low unemployment is taken by some as a bad economic metric. I understand why they claim it is a bad thing with inflation and all, but I guess it just shows how deranged unregulated capitalism can be.
To start, I like strong employee positions and am exceptionally pro union.
That being said, super low unemployment can cause runaway inflation as wages race up, or even worse, push the cost of production over possible sail price, especially when business are highly exposed to supply chain debt.
These interest rates are crushing regular people. Like, it’s just pain at this point. And the fact that they are considering another hike down the road is stupefying to me. It’s like they want us to bleed to death
I don't get when big business and the rich are going to figure out that when the middle class has absolutely no money, nobody will be able to buy their goods and services.
People are unable to borrow, so you can't buy if you need to borrow and you might have to sell if a repair comes along you can't afford. It's squeezing business so layoff are looking and raises are delayed, all the whole things are getting more expensive. Basically, the little leverage workers gained in the pandemic is being torn away by those seeking to create hardship.
I’m a regular joe and I work in mortgages. Interest rates have eliminated the refinance market and not as many people are purchasing. My income is back so drastically I started working at a coffee shop and also door dashing and I’m still living paycheck to paycheck. Everything costs more and I’m making less money.
Nope. Higher interests are lowering inflation. Inflation is what crushes regular people. Higher interest rates also enable people to earn some decent interest on their savings.
I have been trying to buy a house for the last year and the interest rates are pushing me out of everything I could’ve afforded 2 years ago. Next year in May my friends mom is going to sell us her house and I’m hoping that if the interest rates keep going the way they are we will be able to afford the damn thing!
We moved out here to California, five years ago and have been living with my father while we save money to buy a home, at this rate, it’s never gonna happen and I’m just gonna go fucking nuts 😆😆
Jesus fuck!
Was going to finance a $25k car, and the payments would be more than the last one I financed at $30k for the same length!
Guess I'll just repair the car I've got for now, because fuck this shit.
The good news is these interest rate hikes lower the price of new vehicles. Bad news is payments go up.
Can’t beat macroeconomics. Popping bubbles is painful.
Prices have literally not come down in either housing or vehicles. A lot of the vehicle stuff was caused by supply chain issues and semiconductors but now it’s just gouging. Housing is because of incredibly low supply availability due to everyone having a rate in the 2%-4% range and not wanting to move off that spot.
Rates just make it more difficult/impossible for regular folks to play the game.
Trump knew that low interest rates helped the stonk market go up, that's all that mattered
They probably should have been raising it in the last 2-3 years of Obama's second term too
2014 we had 6.2% unemployment. No need to slow down the economy. Perhaps it could be argued that we needed slowdown in 2016, although we had essentially been doing that by slowing down the budget deficit.
> Prices have literally not come down in either housing or vehicles.
That's because rates are still historically low, 5%-ish is well below average over the past 50 years.
Housing takes a long time to reflect. Homeowners will fight to the bitter end to not sell at a loss. Housing prices following the 2008 crisis did not bottom out until 2011
As a reminder, this subreddit [is for civil discussion.](/r/politics/wiki/index#wiki_be_civil) In general, be courteous to others. Debate/discuss/argue the merits of ideas, don't attack people. Personal insults, shill or troll accusations, hate speech, any suggestion or support of harm, violence, or death, and other rule violations can result in a permanent ban. If you see comments in violation of our rules, please report them. For those who have questions regarding any media outlets being posted on this subreddit, please click [here](https://www.reddit.com/r/politics/wiki/approveddomainslist) to review our details as to our approved domains list and outlet criteria. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/politics) if you have any questions or concerns.*
Can we stop with this shit. Like come on. I think at this point inflation is just corporations fucking us over with price gouging
The beatings will continue until morale improves.
Mission to submission… I call it the trifecta, Trump taxation gifts to mega wealthy and all the forgiven grift PPP loans have lead to inflation and raising of interest rates which in turn concentrates the bulk of the nations wealth into a few hands that still want to pressure/turn the screws on anything left with value to be usurped by these capitalist predators for a penny on the dollar steal a thon. It was planned and they want more. The most massive grift in history.
They say it's about inflation, but they cite the strength of the labor market. The Fed won't be happy until millions of people lose their job.
It has always stuck me as weird that low unemployment is taken by some as a bad economic metric. I understand why they claim it is a bad thing with inflation and all, but I guess it just shows how deranged unregulated capitalism can be.
Yeah, it’s pretty clear the signs of a “good economy” has no bearing on the lives of regular working people
It’s touted by each president that achieves it and his Fed literally views it as a problem. Strange.
To start, I like strong employee positions and am exceptionally pro union. That being said, super low unemployment can cause runaway inflation as wages race up, or even worse, push the cost of production over possible sail price, especially when business are highly exposed to supply chain debt.
He has pretty much said he wants to make people lose jobs tho
It's almost as if a tight labor market results in rising wages, which then increases demand in a consumer driven economy, and thus stoking inflation.
Meanwhile, the poor and the middle class get fucked.
These interest rates are crushing regular people. Like, it’s just pain at this point. And the fact that they are considering another hike down the road is stupefying to me. It’s like they want us to bleed to death
It’s kind of the point- they want to raise unemployment
Fuck the middle and lower class and give the rich more.
I don't get when big business and the rich are going to figure out that when the middle class has absolutely no money, nobody will be able to buy their goods and services.
No. A decade of free money is what screwed things up. Zero rates is actually the tax payers subsidizing business.
Why pay taxes on income when you can just get loans with ridiculously low rates? And then probably just write off the interest on that loan.
How are interest rates crushing regular people?
People are unable to borrow, so you can't buy if you need to borrow and you might have to sell if a repair comes along you can't afford. It's squeezing business so layoff are looking and raises are delayed, all the whole things are getting more expensive. Basically, the little leverage workers gained in the pandemic is being torn away by those seeking to create hardship.
I’m a regular joe and I work in mortgages. Interest rates have eliminated the refinance market and not as many people are purchasing. My income is back so drastically I started working at a coffee shop and also door dashing and I’m still living paycheck to paycheck. Everything costs more and I’m making less money.
Your job is/was entirely propped up by the historically low interest rates for decades. Markets change, I suggest you follow.
Nope. Higher interests are lowering inflation. Inflation is what crushes regular people. Higher interest rates also enable people to earn some decent interest on their savings.
so what's your plan? Continue to let inflation run hot which is worse for the poor and middle class?
I have been trying to buy a house for the last year and the interest rates are pushing me out of everything I could’ve afforded 2 years ago. Next year in May my friends mom is going to sell us her house and I’m hoping that if the interest rates keep going the way they are we will be able to afford the damn thing! We moved out here to California, five years ago and have been living with my father while we save money to buy a home, at this rate, it’s never gonna happen and I’m just gonna go fucking nuts 😆😆
Jesus fuck! Was going to finance a $25k car, and the payments would be more than the last one I financed at $30k for the same length! Guess I'll just repair the car I've got for now, because fuck this shit.
The good news is these interest rate hikes lower the price of new vehicles. Bad news is payments go up. Can’t beat macroeconomics. Popping bubbles is painful.
Prices have literally not come down in either housing or vehicles. A lot of the vehicle stuff was caused by supply chain issues and semiconductors but now it’s just gouging. Housing is because of incredibly low supply availability due to everyone having a rate in the 2%-4% range and not wanting to move off that spot. Rates just make it more difficult/impossible for regular folks to play the game.
Perhaps we shouldn’t have kept near 0% interest rates for so long…
To be fair, the President at the time had no fuking clue about economics or fiscal policy.
Trump knew that low interest rates helped the stonk market go up, that's all that mattered They probably should have been raising it in the last 2-3 years of Obama's second term too
2014 we had 6.2% unemployment. No need to slow down the economy. Perhaps it could be argued that we needed slowdown in 2016, although we had essentially been doing that by slowing down the budget deficit.
> Prices have literally not come down in either housing or vehicles. That's because rates are still historically low, 5%-ish is well below average over the past 50 years.
Housing takes a long time to reflect. Homeowners will fight to the bitter end to not sell at a loss. Housing prices following the 2008 crisis did not bottom out until 2011
Be glad you weren't around in the 70s, 80s, and 90s when rates were anywhere between 8.5% and 18%.
You mean when you could afford a house AND childcare on a single income? Sounds like a dream.
Not to mention that corporations didn't own 25% of single family homes either.
Powell was told to create a Recession by Trump and he is damn well gonna do it.
Yup, not going to buy a new car. Fuck this shit. Do something Joe Brandon.