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Drudge Retort: The Other Side of the News
Wednesday, November 10, 2021

U.S. inflation hit a three-decade high in October, delivering widespread and sizable price increases to households for everything from groceries to cars due to persistent supply shortages and strong consumer demand. The Labor Department said the consumer-price index"which measures what consumers pay for goods and services"increased in October by 6.2% from a year ago. That was the fastest 12-month pace since 1990 and the fifth straight month of inflation above 5%.

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Money printing is hitting home with inflation continuing to soar - with mortgage rates at 3% or less, there is a negative cost of borrowing which is not sustainable. Either the banks are all going to go bankrupt or rates will be allowed to be market driven - which would result in mortgage rates closer to 9%-10%+ (inflation + 3% margin). What do you think happens to home prices and the economy when this occurs?

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You'd better get a job

#1 | Posted by ChiefTutMoses at 2021-11-10 09:54 PM | Reply

"You'd better get a job
#1 | POSTED BY CHIEFTUTMOSES"

I already have one. Be nice to me and I will buy your house at 50% off in 6 months so you don't walk away penniless.

#2 | Posted by Skeptical at 2021-11-10 10:18 PM | Reply

You can't raise the cash to eat at Arby's, fraud.

#3 | Posted by LegallyYourDead at 2021-11-11 01:51 AM | Reply

"You can't raise the cash to eat at Arby's, fraud."

Now, now.

He posted several claims one night, which, when put together, set his net worth somewhere between $251 and $274. But he's also committed to keep going until he hits at least five hundred bucks.

#4 | Posted by Danforth at 2021-11-11 02:01 AM | Reply | Funny: 1

Did the $7.8 trillion that Trump added to the national debt in 4 years have anything to do with rising inflation?

#5 | Posted by 503jc69 at 2021-11-11 02:42 AM | Reply

Inflation induced by a once in a century event at a 30 year high.

Seems like it's not as bad as it could be.

When we build economies on greed where they only work well when it's a sunny day this is the result.

#6 | Posted by jpw at 2021-11-11 11:13 AM | Reply

When we build economies on greed where they only work well when it's a sunny day

Like running near zero interest rates for a decade or two?

#7 | Posted by REDIAL at 2021-11-11 11:18 AM | Reply

Is anyone surprised that huge tax cuts for billionaire led to higher rents and real estate prices?

#8 | Posted by snoofy at 2021-11-11 11:24 AM | Reply

#9

Keep digging, you aint there yet.

#9 | Posted by lfthndthrds at 2021-11-11 01:17 PM | Reply

"I will buy your house"

Good luck with that

#10 | Posted by ChiefTutMoses at 2021-11-11 02:46 PM | Reply

What do you think happens to home prices and the economy when this occurs?

Prices will go down, values will too..

And someone else may be able to afford a house..

But also the loan will cost more.

#11 | Posted by boaz at 2021-11-12 12:48 PM | Reply

Rich people don't need loans, Boaz.
Loans are for little people like you and me.

This economy isn't for little people like us. "Since 1975, practically all the gains in household income have gone to the top 20% of households."
This economy serves rich people who can buy houses with cash.

What's happening now with real estate -- the bubble, the eventual pop -- has been the plan all along.
Our last President is a real estate guy. Real estate guys find ways to make not-rich people lose their home or their farm, so hedge funds and investors can buy it up at a steep discount.

If you didn't see this coming, it's because you looked the other way.

#12 | Posted by snoofy at 2021-11-12 12:54 PM | Reply

Pretty soon now the Russians are going to start openly wishing Boris Yeltsin was president again.

#13 | Posted by Tor at 2021-11-12 12:58 PM | Reply

Stock prices are up yet returns to stockholders are down, way down. Investment houses have been buying homes and apartment complexes because they can get higher rates of return. Every 6 months or so they jack the rental prices.

Like stocks, the rental business is hitting a glass wall. One in which no one can afford to stay, they aren't making enough money to cover the rent.

All this will come to a head...soon.

#14 | Posted by BBQ at 2021-11-13 07:16 PM | Reply

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