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As my friend at the gym, who works for Bank of America, told me, we are in a housing bubble because banks need fees and commissions.
I have spoken to at least a dozen mortgage brokers in my Temple and they're expecting a crash within a year.
What crashes?
If we take your friend's account that banks still don't have what they are essentially established upon, we don't even have an economy to be measured by a state.
I live in Nassau County and there has been, for the last 6 months or so, an explosion of both Commercial and Residential building.
Mortgages are being handed out to people on welfare (I'm NOT kidding) and kids becoming computer programmers who don't even have college degrees.
My relatives and friends across the country are seeing the same thing.
This in not sustainable.
You didn't answer my question.
here is a few more inconvenient facts, sorry to interrupt your little celebration
Federal reserve balance sheet as a percent GDP
Fed funds rate
Then I didn't get your gist.
Banks package securities for other financial entities and then sell the management to someone else before the security blows up.
The Bank gets fees and commissions and doesn't care about the future stability or success of the security.
If you don't get that, I can't help you.
Then I didn't get your gist.
Banks package securities for other financial entities and then sell the management to someone else before the security blows up.
The Bank gets fees and commissions and doesn't care about the future stability or success of the security.
If you don't get that, I can't help you.
Your first mentioned information source for banks was a friend at a gym.
Not discrediting your friend, your referral to them proves to me that if you are to have such a serious perspective about a crash you would ought to have a more credible source to make our debate at least possibly providing.
Granted, you did not know it would be possible to have the debate providing.
That being said, are you 100% sure and positive (pose-at-eve, not in the + sense, since we haven't begun our providing) that banks SELL their management, eventually to be substituted by another "work-shopper employee" because the last one failed to not only continue the business, but to completely neglect the reason for the business existing? You realize anyone can make money out of anything? Wood, metal, what have you?
Banks don't get fees and commissions, they consent to it after assessing the certainty of future stability. Security is an industry preceding financial operations. Are you okay when you aren't thinking about your account which has to be thought of at some point? Yeah, you thought about your account.
You can help me just by saying you don't understand, or saying nothing for that matter. That's because I am open to receive it, and respect you by not taking whatever you got that you at one point thought I would also require to then be helped.
Your concern with finances is safety? Then provide? Make a pretty drawing and give it to a stranger, it's safe, learn.
Then I didn't get your gist.
Banks package securities for other financial entities and then sell the management to someone else before the security blows up.
The Bank gets fees and commissions and doesn't care about the future stability or success of the security.
If you don't get that, I can't help you.
Your first mentioned information source for banks was a friend at a gym.
Not discrediting your friend, your referral to them proves to me that if you are to have such a serious perspective about a crash you would ought to have a more credible source to make our debate at least possibly providing.
Granted, you did not know it would be possible to have the debate providing.
That being said, are you 100% sure and positive (pose-at-eve, not in the + sense, since we haven't begun our providing) that banks SELL their management, eventually to be substituted by another "work-shopper employee" because the last one failed to not only continue the business, but to completely neglect the reason for the business existing? You realize anyone can make money out of anything? Wood, metal, what have you?
Banks don't get fees and commissions, they consent to it after assessing the certainty of future stability. Security is an industry preceding financial operations. Are you okay when you aren't thinking about your account which has to be thought of at some point? Yeah, you thought about your account.
You can help me just by saying you don't understand, or saying nothing for that matter. That's because I am open to receive your help, just like the "problem banks" opening tomorrow again in the morning, and also because I respect you by not taking whatever you got that at one point you thought I would also require to then be helped by you.
Your concern with finances is safety? Then provide. Make a pretty drawing and give it to a stranger, it's safe, learn. I am here for you. I am waiting your reply. Draw mine again, please.
Then I didn't get your gist.
Banks package securities for other financial entities and then sell the management to someone else before the security blows up.
The Bank gets fees and commissions and doesn't care about the future stability or success of the security.
If you don't get that, I can't help you.
Your first mentioned information source for banks was a friend at a gym.
Not discrediting your friend, your referral to them proves to me that if you are to have such a serious perspective about a crash you would ought to have a more credible source to make our debate at least possibly providing.
Granted, you did not know it would be possible to have the debate providing.
That being said, are you 100% sure and positive (pose-at-eve, not in the + sense, since we haven't begun our providing) that banks SELL their management, eventually to be substituted by another "work-shopper employee" because the last one failed to not only continue the business, but to completely neglect the reason for the business existing? You realize anyone can make money out of anything? Wood, metal, what have you?
Banks don't get fees and commissions, they consent to it after assessing the certainty of future stability. Security is an industry preceding financial operations. Are you okay when you aren't thinking about your account which has to be thought of at some point? Yeah, you thought about your account.
You can help me just by saying you don't understand, or saying nothing for that matter. That's because I am open to receive your help, just like the "problem banks" opening tomorrow again in the morning, and also because I respect you by not taking whatever you got that at one point you thought I would also require to then be helped by you.
Your concern with finances is safety? Then provide. Make a pretty drawing and give it to a stranger, it's safe, learn. I am here for you. I am waiting your reply. Draw mine again, please.
I have read your post again and I believe you have absolutely no idea what you are talking about.
During the GW Housing Bubble Banks and their underwriters bypassed the software that evaluated Risk.
Everything was hand signed and the Bank used their depositers money to give the Loan.
The Banks then ran as fast as possible to the European and Asian markets to sell these MBS and retain the rights to collect Fees for managing the payments.
If you dispute this fact, you haven't read an article after the crash and have no friends in the business.
Nobody went out of their way to tell me this.
I read a lot and asked a lot of Mortgage Bankers and Brokers.
Then I didn't get your gist.
Banks package securities for other financial entities and then sell the management to someone else before the security blows up.
The Bank gets fees and commissions and doesn't care about the future stability or success of the security.
If you don't get that, I can't help you.
Your first mentioned information source for banks was a friend at a gym.
Not discrediting your friend, your referral to them proves to me that if you are to have such a serious perspective about a crash you would ought to have a more credible source to make our debate at least possibly providing.
Granted, you did not know it would be possible to have the debate providing.
That being said, are you 100% sure and positive (pose-at-eve, not in the + sense, since we haven't begun our providing) that banks SELL their management, eventually to be substituted by another "work-shopper employee" because the last one failed to not only continue the business, but to completely neglect the reason for the business existing? You realize anyone can make money out of anything? Wood, metal, what have you?
Banks don't get fees and commissions, they consent to it after assessing the certainty of future stability. Security is an industry preceding financial operations. Are you okay when you aren't thinking about your account which has to be thought of at some point? Yeah, you thought about your account.
You can help me just by saying you don't understand, or saying nothing for that matter. That's because I am open to receive your help, just like the "problem banks" opening tomorrow again in the morning, and also because I respect you by not taking whatever you got that at one point you thought I would also require to then be helped by you.
Your concern with finances is safety? Then provide. Make a pretty drawing and give it to a stranger, it's safe, learn. I am here for you. I am waiting your reply. Draw mine again, please.
I have read your post again and I believe you have absolutely no idea what you are talking about.
During the GW Housing Bubble Banks and their underwriters bypassed the software that evaluated Risk.
Everything was hand signed and the Bank used their depositers money to give the Loan.
The Banks then ran as fast as possible to the European and Asian markets to sell these MBS and retain the rights to collect Fees for managing the payments.
If you dispute this fact, you haven't read an article after the crash and have no friends in the business.
Nobody went out of their way to tell me this.
I read a lot and asked a lot of Mortgage Bankers and Brokers.
Then I didn't get your gist.
Banks package securities for other financial entities and then sell the management to someone else before the security blows up.
The Bank gets fees and commissions and doesn't care about the future stability or success of the security.
If you don't get that, I can't help you.
Your first mentioned information source for banks was a friend at a gym.
Not discrediting your friend, your referral to them proves to me that if you are to have such a serious perspective about a crash you would ought to have a more credible source to make our debate at least possibly providing.
Granted, you did not know it would be possible to have the debate providing.
That being said, are you 100% sure and positive (pose-at-eve, not in the + sense, since we haven't begun our providing) that banks SELL their management, eventually to be substituted by another "work-shopper employee" because the last one failed to not only continue the business, but to completely neglect the reason for the business existing? You realize anyone can make money out of anything? Wood, metal, what have you?
Banks don't get fees and commissions, they consent to it after assessing the certainty of future stability. Security is an industry preceding financial operations. Are you okay when you aren't thinking about your account which has to be thought of at some point? Yeah, you thought about your account.
You can help me just by saying you don't understand, or saying nothing for that matter. That's because I am open to receive your help, just like the "problem banks" opening tomorrow again in the morning, and also because I respect you by not taking whatever you got that at one point you thought I would also require to then be helped by you.
Your concern with finances is safety? Then provide. Make a pretty drawing and give it to a stranger, it's safe, learn. I am here for you. I am waiting your reply. Draw mine again, please.
I have read your post again and I believe you have absolutely no idea what you are talking about.
During the GW Housing Bubble Banks and their underwriters bypassed the software that evaluated Risk.
Everything was hand signed and the Bank used their depositers money to give the Loan.
The Banks then ran as fast as possible to the European and Asian markets to sell these MBS and retain the rights to collect Fees for managing the payments.
If you dispute this fact, you haven't read an article after the crash and have no friends in the business.
Nobody went out of their way to tell me this.
I read a lot and asked a lot of Mortgage Bankers and Brokers.
I am not disputing the fact of your experience, as mistaken as it might have been.
But phoenyx is right.
?
Wait, what is it that you're saying that I'm right about
every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works
How is that so?
The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.
zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental
Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?
The federal reserve is driving the bus here, we are in an unprecedented era of monetary policy, that should color every notion of how well we are or not doing. Fiscal policy likewise to some degree.
For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate. Others just look at the $0.5T GDP gain and proclaim success. Not saying it isn't possible to make it out of all this ok, I am saying that this is not normal by historical standards and kind of unsettling.
Wait, what is it that you're saying that I'm right about
I was typing about how there is always something more to provide relevant information concerning a topic involving so many participants as the economy does.
For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate.
Why do you imply the federal reserve would have to monetize the budget for any result when the federal reserve is providing the money, the budget, AND the statistical assessment?
every American needs to understand that we are in the middle of a massive new monetary experiment, if you believe in god then pray it works
How is that so?
The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.
zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental
Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?
The federal reserve is driving the bus here, we are in an unprecedented era of monetary policy, that should color every notion of how well we are or not doing. Fiscal policy likewise to some degree.
For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate. Others just look at the $0.5T GDP gain and proclaim success. Not saying it isn't possible to make it out of all this ok, I am saying that this is not normal by historical standards and kind of unsettling.
You keep bringing up the Fed as part of your argument that the economy is "in the tank," but the nature of your remarks suggest you are either not macroeconomically/Fed savvy or not current on the state of the economy.
Why? Because it's almost certain that the Fed will raise interest rates this year, perhaps even in September. That's something the Fed has refrained from doing almost entirely in anticipation of clear and broad reaching indications that the economy is doing well. "If there were something that might persuade the [Fed] to boost rates, it would likely be some sign that the economy was doing better than anticipated, significantly better."
- Federal Reserve Could Hike Interest Rates in September
- 16-Aug-2016 -- NY Fed President Dudley:
- "[T]he labor market is getting tighter and we’re starting to see signs of wage gains starting to accelerate, so I think we’re getting closer to that point in time when it will be appropriate to actually raise short-term rates again.”
- "[T]he question is whether there is enough economic growth to put pressure on resources that pushes up wages and, ultimately, inflation. 'So far we seem to be on that trajectory and we’ll have to see how it plays out in coming months.'”
- Federal Reserve 'close to meeting targets' for US economy - BBC News
- 21-Aug-2016 -- Fed Vice Chairman Stanley Fischer
- In a speech in Colorado, the Fed's number two policymaker was upbeat about the economy's recovery and prospects. "We are close to our targets," he said on Sunday, adding that jobs growth had been "remarkably resilient".
- "Mr Fischer said this year's pace of jobs growth, although slower than in 2015, was "more than enough" for the labour market to continue to improve."
- "In recent years, he said, the US economy had had to confront the Greek debt crisis, a rise in the strength of the dollar, and sporadic financial turbulence."
"Yet, even amid these shocks, the labour market continued to improve: employment has continued to increase, and the unemployment rate is currently close to most estimates of the natural rate. I believe it is a remarkable, and perhaps under-appreciated, achievement that the economy has returned to near-full employment in a relatively short time after the great recession, given the historical experience following a financial crisis."- Janet Yellen: Fed rate hike odds have 'strengthened'
- "But the job market bounced back in June and July, adding over a half million jobs in the that period. Yellen highlighted the job market's improvement and "solid growth" in consumer spending. Experts agree."
- "The consumer is actually doing pretty good and there are elements of the labor market doing better," says Phil Orlando, senior portfolio manager at Federated Investors in New York."
- 26-Aug-2016 -- Fed Chairwoman Janet Yellen:
- "I believe the case for an increase in the federal funds rate has strengthened in recent months."
- "While economic growth has not been rapid, it has been sufficient to generate further improvement in the labor market."
How is that so?
The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.
zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental
Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?
The federal reserve is driving the bus here, we are in an unprecedented era of monetary policy, that should color every notion of how well we are or not doing. Fiscal policy likewise to some degree.
For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate. Others just look at the $0.5T GDP gain and proclaim success. Not saying it isn't possible to make it out of all this ok, I am saying that this is not normal by historical standards and kind of unsettling.
You keep bringing up the Fed as part of your argument that the economy is "in the tank," but the nature of your remarks suggest you are either not macroeconomically/Fed savvy or not current on the state of the economy.
Why? Because it's almost certain that the Fed will raise interest rates this year, perhaps even in September. That's something the Fed has refrained from doing almost entirely in anticipation of clear and broad reaching indications that the economy is doing well. "If there were something that might persuade the [Fed] to boost rates, it would likely be some sign that the economy was doing better than anticipated, significantly better."
- Federal Reserve Could Hike Interest Rates in September
- 16-Aug-2016 -- NY Fed President Dudley:
- "[T]he labor market is getting tighter and we’re starting to see signs of wage gains starting to accelerate, so I think we’re getting closer to that point in time when it will be appropriate to actually raise short-term rates again.”
- "[T]he question is whether there is enough economic growth to put pressure on resources that pushes up wages and, ultimately, inflation. 'So far we seem to be on that trajectory and we’ll have to see how it plays out in coming months.'”
- Federal Reserve 'close to meeting targets' for US economy - BBC News
- 21-Aug-2016 -- Fed Vice Chairman Stanley Fischer
- In a speech in Colorado, the Fed's number two policymaker was upbeat about the economy's recovery and prospects. "We are close to our targets," he said on Sunday, adding that jobs growth had been "remarkably resilient".
- "Mr Fischer said this year's pace of jobs growth, although slower than in 2015, was "more than enough" for the labour market to continue to improve."
- "In recent years, he said, the US economy had had to confront the Greek debt crisis, a rise in the strength of the dollar, and sporadic financial turbulence."
"Yet, even amid these shocks, the labour market continued to improve: employment has continued to increase, and the unemployment rate is currently close to most estimates of the natural rate. I believe it is a remarkable, and perhaps under-appreciated, achievement that the economy has returned to near-full employment in a relatively short time after the great recession, given the historical experience following a financial crisis."- Janet Yellen: Fed rate hike odds have 'strengthened'
- "But the job market bounced back in June and July, adding over a half million jobs in the that period. Yellen highlighted the job market's improvement and "solid growth" in consumer spending. Experts agree."
- "The consumer is actually doing pretty good and there are elements of the labor market doing better," says Phil Orlando, senior portfolio manager at Federated Investors in New York."
- 26-Aug-2016 -- Fed Chairwoman Janet Yellen:
- "I believe the case for an increase in the federal funds rate has strengthened in recent months."
- "While economic growth has not been rapid, it has been sufficient to generate further improvement in the labor market."
I said we are in a new monetary era, I did not say we are 'in the tank'. The fed has kept the ship afloat, the question is if this is a sustainable path. Clearly I think the answer is no as the fed itself keeps talking about escape velocity which never seems to happen. It could be now, but this is a historically long time for a recovery. Yellen has now changed her tune to QE and is trying to prepare congress to accept a permanent large balance on the fed ledger.
I know all about the interest rate increases, it changes nothing, we should have had many by now instead of one. I know all about the labor market, it is doing well but wages have been not so hot.
Asset prices (stocks, housing, etc.) seem to be inflating much faster than inflation or wages. The fed fears we might be creating a third bubble in 20 years, however they are starting to think that bubbles are the new economy as well. Bubbles are nice on the way up, we all loved the late 90s.
The trillion dollar question is when another recession hits, then what? the fed today has a pretty empty barrel so about the only thing left is helicopter money which is an even more dangerous experiment.
you really need links to plots that are easily looked up? I would have thought you were more savvy than that and probably were already aware, I will post later.
Those facts don't line up with the right wing rhetoric that we are collapsing. I've had that same conversation with right wingers, and their response was that isn't what they see on their TV so your numbers must be fake.
We're not collapsing...we're treading water and that's all we've done for the past eight years!
Wrong.
How is that so?
The monetary system doesn't seem functioning to me by or through experiments and prayer doesn't seem to be given by or through chance.
zero percent interest rates for 7 years and $3 Trillion in QE is new and experimental
Who is enforcing the mathematics inlaid with those numbers, so that every American would have to need, and be fulfilled, in the understanding of your suggestion?
The federal reserve is driving the bus here, we are in an unprecedented era of monetary policy, that should color every notion of how well we are or not doing. Fiscal policy likewise to some degree.
For example if Obama spent $1T in deficit stimulus, the fed monetized it, and GDP grew by $0.5T then I would call that sort of desperate. Others just look at the $0.5T GDP gain and proclaim success. Not saying it isn't possible to make it out of all this ok, I am saying that this is not normal by historical standards and kind of unsettling.
You keep bringing up the Fed as part of your argument that the economy is "in the tank," but the nature of your remarks suggest you are either not macroeconomically/Fed savvy or not current on the state of the economy.
Why? Because it's almost certain that the Fed will raise interest rates this year, perhaps even in September. That's something the Fed has refrained from doing almost entirely in anticipation of clear and broad reaching indications that the economy is doing well. "If there were something that might persuade the [Fed] to boost rates, it would likely be some sign that the economy was doing better than anticipated, significantly better."
- Federal Reserve Could Hike Interest Rates in September
- 16-Aug-2016 -- NY Fed President Dudley:
- "[T]he labor market is getting tighter and we’re starting to see signs of wage gains starting to accelerate, so I think we’re getting closer to that point in time when it will be appropriate to actually raise short-term rates again.”
- "[T]he question is whether there is enough economic growth to put pressure on resources that pushes up wages and, ultimately, inflation. 'So far we seem to be on that trajectory and we’ll have to see how it plays out in coming months.'”
- Federal Reserve 'close to meeting targets' for US economy - BBC News
- 21-Aug-2016 -- Fed Vice Chairman Stanley Fischer
- In a speech in Colorado, the Fed's number two policymaker was upbeat about the economy's recovery and prospects. "We are close to our targets," he said on Sunday, adding that jobs growth had been "remarkably resilient".
- "Mr Fischer said this year's pace of jobs growth, although slower than in 2015, was "more than enough" for the labour market to continue to improve."
- "In recent years, he said, the US economy had had to confront the Greek debt crisis, a rise in the strength of the dollar, and sporadic financial turbulence."
"Yet, even amid these shocks, the labour market continued to improve: employment has continued to increase, and the unemployment rate is currently close to most estimates of the natural rate. I believe it is a remarkable, and perhaps under-appreciated, achievement that the economy has returned to near-full employment in a relatively short time after the great recession, given the historical experience following a financial crisis."- Janet Yellen: Fed rate hike odds have 'strengthened'
- "But the job market bounced back in June and July, adding over a half million jobs in the that period. Yellen highlighted the job market's improvement and "solid growth" in consumer spending. Experts agree."
- "The consumer is actually doing pretty good and there are elements of the labor market doing better," says Phil Orlando, senior portfolio manager at Federated Investors in New York."
- 26-Aug-2016 -- Fed Chairwoman Janet Yellen:
- "I believe the case for an increase in the federal funds rate has strengthened in recent months."
- "While economic growth has not been rapid, it has been sufficient to generate further improvement in the labor market."
I said we are in a new monetary era, I did not say we are 'in the tank'. The fed has kept the ship afloat, the question is if this is a sustainable path. Clearly I think the answer is no as the fed itself keeps talking about escape velocity which never seems to happen. It could be now, but this is a historically long time for a recovery. Yellen has now changed her tune to QE and is trying to prepare congress to accept a permanent large balance on the fed ledger.
I know all about the interest rate increases, it changes nothing, we should have had many by now instead of one. I know all about the labor market, it is doing well but wages have been not so hot.
Asset prices (stocks, housing, etc.) seem to be inflating much faster than inflation or wages. The fed fears we might be creating a third bubble in 20 years, however they are starting to think that bubbles are the new economy as well. Bubbles are nice on the way up, we all loved the late 90s.
The trillion dollar question is when another recession hits, then what? the fed today has a pretty empty barrel so about the only thing left is helicopter money which is an even more dangerous experiment.
you really need links to plots that are easily looked up? I would have thought you were more savvy than that and probably were already aware, I will post later.
In the meantime, we have 5.8 million jobs unfilled because people don't have the skills.
As long as Republicans teach their children education is a liberal plot, they will continue to drag down the country's economy.
"CDZ What facts have we about the state of the U.S. economy today?"
Who cares about facts, stats?
"Let's make America great again" ... is probably referring to South America, but Trump suckers don't realize that.
