My wife is a very active real estate agent, and she has expensive homes listed that aren't getting seen at all. Its really dead out there in August. Slowdown started 2 months ago.
Let me introduce a distinction here, I think we're on two different wavelengths, but your response was meaningful. We can tolerate a fiat currency if it is backed by the realistic taxing authority of the government that guarantees it. We used to have that in the United States, after we gave up the gold standard for domestic use in 1933. We had lost it by 1971 when we could no longer settle our international trade deficit in gold.
I believe a real economy has a bank interest rate that reflects the rate of inflation, the availability of real capital backed by banks with adequate capital reserves and the integrity to take their own capital losses when they lend frivolously, and isn't playing games of labor arbitrage globally and covering them with unsustainable credit liabilities in its entitlement programs. A real economy has government borrowing for extraordinary needs like war or handling natural disasters, not for running Ponzi schemes in guaranteeing Wall Street the socialization of financial loss, or in entitlement programs that are seriously underfunded, like Social Security, Obamacare, and Medicare.
In essence all major players in our economy have defrauded us, the government, big business, big banks and energy companies that have enabled us to generate massive global trade debt for oil. Each plays by contorted rules designed to enrich themselves in a criminal fashion.
Bankers anoint borrowers with loans. Debts are the sacred relics of Money Religion.
It is Money Religion we love the most in America, and it gives us much cover for extraordinary abuses to each other.
Injustice is better than starvation.
Do you remember the Seinfeld episode where the telephone company installer came to Elaine's house and gave her a new number that wasn't in the 212 area code ? After hearing her pleas, he looked her in the eye and said he'd heard every form of circular logic and wasn't buying it.
If you say so, it must be true. I'm glad I finally located the person responsible for defining "Objective".
Its a Happy Day for me.
Your grasp of political reality isn't that strong. Never overestimate the inherent power of your own understanding, and I mean that in a nice way.
A loss of confidence in the American global military-industrial empire. Why is that hard to understand ?
Salvage parts for sale on Ebay should be appearing shortly from the Ukraine.
But this time may really well be different. Our real economy is like a surgery patient that's been under general anesthesia for half a decade, when the physical therapy starts in earnest, the marathon win may seem a bit further off.
2.48% is the 10 year Treasury note yield
5.12% is the current S&P 500 earnings yield
Equities are fairly valued when the 1 year forward S&P 500 earnings yield equals the Treasury note yield. And since OBVIOUSLY the S&P earnings estimate are going to ALWAYS BE HIGHER for next year, then stocks are insanely cheap by this model.
So buy 'em boys, it couldn't be a more riskless world. Its Janet's eye on the back of the dollar bill.
Ratings thrive on upbeat news. Further, there is government pressure not to criticize their leadership decisions. Not much different than anywhere else in the world, and maybe a little worse because we have empire syndrome.
and have little more to say than "I think I misunderstood the assignment."
If she promises to devote her entire Presidency to baking apple tarts and distributing them personally to the homeless in Washington DC and New York.