Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you sound both naive and entitled.

PPs are right -- people have bought homes and cars at much higher interest rates than now and lived to tell the tale. It's bad luck of timing if you happen to be in the market for either right now, because if you'd just bought within the last few years, you could have saved money. Such is life. I lived through the insane inflation and energy crises of the late 70s/early 80s and there were plenty of people freaking out then, too. Yet I'm still here.

And unlike some of the folks on here, I'm MC. I've lived through layoffs and multiple recessions. I didn't make it big on a retirement plan like a lot of Boomers did because I didn't have enough money in those plans to do so. I didn't own property that appreciated 500% either. But I'm okay. I became a better saver, and know how to live frugally, and it all worked out. I caught some lucky breaks with my health (knock on wood) but now I have an affordable semi-retirement and easily live off my social security and some PT income without having to touch my little nest egg. I even manage to travel a bit and give my grandkid extravagant grandma gifts.

The sky is not falling. We've been through much, much worse economically. I worry more about the political unrest that Trump and his cronies seem determined to stir up and capitalize on. Maybe you're trying to stir that up too? Telling people the economy is falling apart is a common tactic of fascists, as it makes fascism sound more reasonable. Is that you? A fascist?

It's not just rising interest rates amid a historic asset bubble that's been inflated for 10+ years. The world is also now facing shocks to energy, shocks to food, shocks to supply chains, war in the Ukraine, increasing hostilities with China/Taiwan, currency issues, and the complete deterioration of globalization that will mean supply chains will be screwed for very, very long times, perhaps permanently. High inflation is going to be persistent for a lot longer than people expect due to the changes we are witnessing in global order.

There is drought in the West, Lake Mead is drying up (and the Great Salt Lake), rivers all over the world are drying up, Pakistan is underwater. We're not on the precipice of economic calamity. We're on the precipice of calamity. Forgiving student loans now is a great idea. Forgive all of it, why not?

Anonymous wrote:

Anonymous wrote:OP, you sound both naive and entitled.

PPs are right -- people have bought homes and cars at much higher interest rates than now and lived to tell the tale. It's bad luck of timing if you happen to be in the market for either right now, because if you'd just bought within the last few years, you could have saved money. Such is life. I lived through the insane inflation and energy crises of the late 70s/early 80s and there were plenty of people freaking out then, too. Yet I'm still here.

And unlike some of the folks on here, I'm MC. I've lived through layoffs and multiple recessions. I didn't make it big on a retirement plan like a lot of Boomers did because I didn't have enough money in those plans to do so. I didn't own property that appreciated 500% either. But I'm okay. I became a better saver, and know how to live frugally, and it all worked out. I caught some lucky breaks with my health (knock on wood) but now I have an affordable semi-retirement and easily live off my social security and some PT income without having to touch my little nest egg. I even manage to travel a bit and give my grandkid extravagant grandma gifts.

The sky is not falling. We've been through much, much worse economically. I worry more about the political unrest that Trump and his cronies seem determined to stir up and capitalize on. Maybe you're trying to stir that up too? Telling people the economy is falling apart is a common tactic of fascists, as it makes fascism sound more reasonable. Is that you? A fascist?

It's not just rising interest rates amid a historic asset bubble that's been inflated for 10+ years. The world is also now facing shocks to energy, shocks to food, shocks to supply chains, war in the Ukraine, increasing hostilities with China/Taiwan, currency issues, and the complete deterioration of globalization that will mean supply chains will be screwed for very, very long times, perhaps permanently. High inflation is going to be persistent for a lot longer than people expect due to the changes we are witnessing in global order.

Anonymous wrote:For the UMC, things will continue to be fine. For the MC, LMC, and the poor, things have been bad for a while and will continue to get worse.

It’s been a tale of two cities for a while OP.

Anonymous wrote:OP, you sound both naive and entitled.

PPs are right -- people have bought homes and cars at much higher interest rates than now and lived to tell the tale. It's bad luck of timing if you happen to be in the market for either right now, because if you'd just bought within the last few years, you could have saved money. Such is life. I lived through the insane inflation and energy crises of the late 70s/early 80s and there were plenty of people freaking out then, too. Yet I'm still here.

And unlike some of the folks on here, I'm MC. I've lived through layoffs and multiple recessions. I didn't make it big on a retirement plan like a lot of Boomers did because I didn't have enough money in those plans to do so. I didn't own property that appreciated 500% either. But I'm okay. I became a better saver, and know how to live frugally, and it all worked out. I caught some lucky breaks with my health (knock on wood) but now I have an affordable semi-retirement and easily live off my social security and some PT income without having to touch my little nest egg. I even manage to travel a bit and give my grandkid extravagant grandma gifts.

The sky is not falling. We've been through much, much worse economically. I worry more about the political unrest that Trump and his cronies seem determined to stir up and capitalize on. Maybe you're trying to stir that up too? Telling people the economy is falling apart is a common tactic of fascists, as it makes fascism sound more reasonable. Is that you? A fascist?

Anonymous wrote:I am less concerned about the US than about the UK and Europe. They are facing a very harsh winter with little heat and are scouring the world for sources of energy including war torn areas like Yemen.

Because of the shortage of energy, they are facing far higher inflation than we are. This is new territory for us and it is difficult to see from here what the knock on effects could be, including on the US.

One can only hope for a mild winter.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Subaru is offering 2.9% financing. Were you on one of those “Johnny says YES to bad credit!” sites?

Toyota

The same Toyota who’s offering 1.9% on their front page right this second? Sure. You sound like a reliable source.

Entirely depends on what models and deals you are looking at:



Shorter loans really aren't all that great either - 7+% for 4 and 5 year loans.

The Fed's interest rate raises are going to crush purchases of bigger ticket items like cars, homes, etc. Homes are next.

Camry, Rav, Highlander, Tacoma, Corolla all have 2.9 APR for 60 months right now. 1.9 APR for 48 months. I feel like you specifically looked for the highest rate lol

Some of us do not want gigantic gas guzzlers and want a hybrid. Maybe people want an Avalon or other models that don't have the special deals too? Don't get salty that you were wrong. Interest rates are now skyrocketing on big ticket items. Wait until the housing and property markets crater next and the wealth effect implodes. Let's see how many idiots took out gigantic lines of credit on their homes that appreciated in value and who'll now be underwater because their home values are going to get crushed. Can't wait.

Just look at your language—

“Europe is going up in smoke” — what!?
“Implodes”
“Property markets crater”

Your descriptions are designed to create panic with those sort of word choices.

It feels manipulative.

Yawn.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I got 9% on my first car. We will be fine.

I got 7.5% on my first mortgage and thought that was great!

Mine was 8% and yet I lived to tell the tale.

My parents first loan was 12%. They're retired rich boomers now. Ask them how it went.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Subaru is offering 2.9% financing. Were you on one of those “Johnny says YES to bad credit!” sites?

Toyota

The same Toyota who’s offering 1.9% on their front page right this second? Sure. You sound like a reliable source.

Entirely depends on what models and deals you are looking at:



Shorter loans really aren't all that great either - 7+% for 4 and 5 year loans.

The Fed's interest rate raises are going to crush purchases of bigger ticket items like cars, homes, etc. Homes are next.

Camry, Rav, Highlander, Tacoma, Corolla all have 2.9 APR for 60 months right now. 1.9 APR for 48 months. I feel like you specifically looked for the highest rate lol

Some of us do not want gigantic gas guzzlers and want a hybrid. Maybe people want an Avalon or other models that don't have the special deals too? Don't get salty that you were wrong. Interest rates are now skyrocketing on big ticket items. Wait until the housing and property markets crater next and the wealth effect implodes. Let's see how many idiots took out gigantic lines of credit on their homes that appreciated in value and who'll now be underwater because their home values are going to get crushed. Can't wait.

Just look at your language—

“Europe is going up in smoke” — what!?
“Implodes”
“Property markets crater”

Your descriptions are designed to create panic with those sort of word choices.

It feels manipulative.

Yawn.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Subaru is offering 2.9% financing. Were you on one of those “Johnny says YES to bad credit!” sites?

Toyota

The same Toyota who’s offering 1.9% on their front page right this second? Sure. You sound like a reliable source.

Entirely depends on what models and deals you are looking at:



Shorter loans really aren't all that great either - 7+% for 4 and 5 year loans.

The Fed's interest rate raises are going to crush purchases of bigger ticket items like cars, homes, etc. Homes are next.

Camry, Rav, Highlander, Tacoma, Corolla all have 2.9 APR for 60 months right now. 1.9 APR for 48 months. I feel like you specifically looked for the highest rate lol

Some of us do not want gigantic gas guzzlers and want a hybrid. Maybe people want an Avalon or other models that don't have the special deals too? Don't get salty that you were wrong. Interest rates are now skyrocketing on big ticket items. Wait until the housing and property markets crater next and the wealth effect implodes. Let's see how many idiots took out gigantic lines of credit on their homes that appreciated in value and who'll now be underwater because their home values are going to get crushed. Can't wait.

Anonymous wrote:

Anonymous wrote:I am less concerned about the US than about the UK and Europe. They are facing a very harsh winter with little heat and are scouring the world for sources of energy including war torn areas like Yemen.

Because of the shortage of energy, they are facing far higher inflation than we are. This is new territory for us and it is difficult to see from here what the knock on effects could be, including on the US.

One can only hope for a mild winter.

US energy markets are not insulated from energy crises in Europe. Europe's huge energy shocks and problems will reverberate in the US. Besides, natural gas prices have exploded by several fold already. Pain will already be felt by Americans this winter. Now throw in big energy problems across the planet. It will be very dicey over the ensuing months.