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=> GENERAL DISCUSSION => Topic started by: Starsky on September 26, 2022, 08:03:27 pm
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Has anyone been following the two crazy phenomena?
1. Mortgage rates closing in on 7%! They were below 3% not that long ago.
2. Dollar at or above parity with euro, longtime high against Yen and getting close to parity against pound.
Smart people must be making a killing….
As for me, buying records from abroad is suddenly much more attractive! :)
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As far as live music, the strength of the dollar must make touring the US more attractive for international acts. If you combine increasing ticket prices in the US with the more favorable exchange rates you might be looking at a 50% premium from pre pandemic earnings.
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CD rates 4%
Savings 3%
I feel like it hasn't been this high since Clinton was in office (ok looks like it went into bush's first year)
Yes, mortgage rates are up, so big impact on lots of things too
but this is much better for the poor and lower middle class, I hope this encourages more savings
Money Market is still at a pathetic 0.01 %
not sure what is up with that, but that is a financial vehicle that I've never seen anything from
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IMBSHO this is the dagger at Democrats chances in the midterms. Hoping the American people realize it’s just a blip and vote smart…just something that had to happen due to economic policies to deal with covid shutdown. Not too optimistic
https://www.cnsnews.com/article/national/terence-p-jeffrey/food-prices-156-under-biden
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Gross domestic product rose 2.6% in the third quarter versus the estimate of 2.3%.
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CD rates still climbing
4.75% 19 month CD with no min
https://www.synchronybank.com/banking/cd/
this has the SideFi seal of approval
been over 2 decades since we've seen these rates...especially with no minimum
typically to get that rate back then it was a min 25K 5 year CD. No min and less than 2 years is great
Inflation is for sure impacting things (7.7%!)
but at least you can hedge against it with a much nicer return on a super safe FDIC insured investment
Stocks and Real Estate have (and likely still will) been by far the best return, but there is surely a LOT of risk too
people only look at the past and great returns, there is no guarantee that will continue
CD rates 4%
Savings 3%
I feel like it hasn't been this high since Clinton was in office (ok looks like it went into bush's first year)
Yes, mortgage rates are up, so big impact on lots of things too
IMBSHO this is the dagger at Democrats chances in the midterms. Hoping the American people realize it’s just a blip and vote smart…just something that had to happen due to economic policies to deal with covid shutdown. Not too optimistic
https://www.cnsnews.com/article/national/terence-p-jeffrey/food-prices-156-under-biden
also, was nice to see this didn't totally destroy the dems and people voted for sane politicians vs 'it's the economy stupid'
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So you put your $ in bank and literally lose money
Doesn’t make sense.
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So you put your $ in bank and literally lose money
Doesn’t make sense.
so just spending it is the obvious choice? (I mean you are not wrong, but you didn't offer an alternative)
this is low risk and this is a hedge against that, because in 19 months you will be better off than if it was under the bed
Not sure I'd recommend stocks or real estate as safe places to put your money (although that's where 98% of mine is, but I'm ok with the risk)
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One year anniversary of Inflation Reduction Act:
Inflation on Aug 16, 2022: 8.5 percent
Inflation on Aug 16, 2023: 3.2 percent
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CD rates 4%
Savings 3%
today
CD rates 5-5.5%
Savings 4-5%
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Sidefi is due for a refinance.
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Sidefi is due for a refinance.
nah...there is no way in my lifetime I'm gonna beat 2.5% on a fixed 30
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Sidefi is due for a refinance.
nah...there is no way in my lifetime I'm gonna beat 2.5% on a fixed 30
Whew. Did you have to pay points to get it to 2.5%? I remain ecstatically happy with my 2.875% without any sort of buy-down but sounds like you hit at the absolute perfect time.
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I don’t find the inflation data very relevant in my life.
As my partner said a trip to whole foods we used to spend $100 and it’s up to $140
Skirt steak at BJs was $8.99 a pound now $13.99
Going out with fam for a meal at typical restaurant now $100 including tip…was definitely more like in $60s
Trapiche Malbec up from $6.99 to $7.99 (still best value in world)
6 pack modelo $10 at Walgreens
Spanakopita tray at Wholepaycheck just went up from $4.99 to $6.79
Not to mention beach rentals during summer
I need some front suspension work on Prius: $4000
16 oz bottles of coke up to like $2.69
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^^is that you Space^^
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Trapiche Malbec up from $6.99 to $7.99 (still best value in world)
Malbec. Gross.
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Pussy
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Btw on an unrelated matter I got a printout of expenditures at BJs in past 14 months.
102 bottles of Argentine Malbec split about evenly between Alamos and Trapiche
I wasn’t too surprised
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Whew. Did you have to pay points to get it to 2.5%
no points
The funny thing is something happened 6 months before that and we got the Heisman from the loan company
so once that was straightened out, we submitted our application/lock on pretty much the best day
I don’t find the inflation data very relevant in my life.
you are not wrong...kinda meaningless (especially without historical data, back of the envelope suggests 25% cumulative inflation in the last bunch of years)
but it does look good and like something got done
just windowdressing and I'm a purevor
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Btw on an unrelated matter I got a printout of expenditures at BJs in past 14 months.
102 bottles of Argentine Malbec split about evenly between Alamos and Trapiche
I wasn’t too surprised
Are you buying wine for the whole block?
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In related news
Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash
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Now that is a depressing headline
Mortgage rates are at a 21-year high.
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GDP report shows real GDP grew at an annual rate of 4.9% in Q3
Edit:
The impact of inflation still hurts the common person
I feel this this is good data that the economy is going in the right direction
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That last sentence is unintelligible.
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GDP report shows real GDP grew at an annual rate of 4.9% in Q3
Edit:
With the impact of inflation still hurts the common person, so this news I s not going to put humanely sourced oat milk on the table
I feel this this is good data that the economy is going in the right direction
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Now it’s even less intelligible!
Are you saying GDP growth hurts people?
GDP growth and inflation are two entirely different concepts. GDP growth does not necessarily mean more or less inflation. Just means the value of the goods and services a country produces has gone up which means the country is wealthier.
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CD rate up to 6.00%
Although avg credit card rate is now 21.19%
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Gold over 2k
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Gold over 2k
Time to look up how much gold I bought and still have from when I was a little kid and my parents paid me a pittance for working on the family farm that managed to add up because I had nothing to spend it on and I bought gold because my mom was a weird Christian who told me that one day the economy would crater and gold would be the only thing worth anything and I totally believe my uneducated mom on economic matters because she was my mom and parents are always right at that age.
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Gold over 2k
Time to look up how much gold I bought and still have from when I was a little kid and my parents paid me a pittance for working on the family farm that managed to add up because I had nothing to spend it on and I bought gold because my mom was a weird Christian who told me that one day the economy would crater and gold would be the only thing worth anything and I totally believe my uneducated mom on economic matters because she was my mom and parents are always right at that age.
This is definitely a contender for the best run-on sentence in the history of the forum.
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x
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Gold over 2k
Time to look up how much gold I bought and still have from when I was a little kid and my parents paid me a pittance for working on the family farm that managed to add up because I had nothing to spend it on and I bought gold because my mom was a weird Christian who told me that one day the economy would crater and gold would be the only thing worth anything and I totally believe my uneducated mom on economic matters because she was my mom and parents are always right at that age.
This is definitely a contender for the best run-on sentence in the history of the forum.
Let's try this with a quote rather than a standalone page starter.
Sure, it's run on, but is it even a sentence if I am omitting the implied "It is" at the start of the would be sentence?
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Gold over 2k
Time to look up how much gold I bought and still have from when I was a little kid and my parents paid me a pittance for working on the family farm that managed to add up because I had nothing to spend it on and I bought gold because my mom was a weird Christian who told me that one day the economy would crater and gold would be the only thing worth anything and I totally believe my uneducated mom on economic matters because she was my mom and parents are always right at that age.
This is definitely a contender for the best run-on sentence in the history of the forum.
This is outsider folk art.
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Gold over 2k
Time to look up how much gold I bought and still have from when I was a little kid a
at an all time high to reach $2,135 per ounce,
https://www.cnn.com/2023/12/04/investing/gold-price-rise-all-time-high/index.html
(https://goldprice.org/charts/gold_all_data_o_usd_x.png?Mon%20Dec%2004%202023%2012:26:35%20GMT-0500%20(Eastern%20Standard%20Time))
also bitcoin back in the 40k range with news of ETF approval coming soon
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I looked up what I bought gold at back in the 80's and 90's. Considerably lower than today. Bult I think stocks would have been the much better choice.