How Bidenomics Paralyzed the Housing Market With Worst Mortgage Mess in 20 Years.

You think that inlfation elsewhere on the globe is relevant as to whether or not the fed raises interest rates in response to inflation?

How so?

 

No, he thinks that inflation elsewhere on the globe is relevant when your trying to pin the blame on Biden.

 

Decreasing interest rate mean “Good economy” ? This must be in alternative earth “Fuzy economy” they practice .

 

Jan 19, 2021 , Biden wasn’t POTUS. Trump was.

 

Mortgage Rate today lower then when Great GOP President Reagan took office Jan 1981 – 15%

Mortgage Rate today lower then when Great GOP President Reagan took office 2nd time Jan 1985 – 12%

Mortgage Rate today lower then when Great Conservative President Bush H took office Jan 1989 – 10%

Mortgage Rate today lower then when Two term Republican President Bush W took office Jan 2000 – 8%

 

the FED did this by raising interest Rates to cool the hot Biden economy

 

We wouldn’t have inflation if Trump didn’t shut down US economy in March 2020.

 

Yes. Inflation gives a brief boost as inventories that were produced before the price increases are sold at a higher profit, but replacing that inventory at higher costs takes the sugar high and more. Wherever did you get the idea that inflation is associated with prosperity? It's not, it's destructive and it harms everyone, especially working folks.

Rich privileged folks don't mind it as working folks get more desperate and deprived, rich folks can start driving down prices by making working folks compete harder for devalued dollars.

 

if you are working class and bought a home, it helps as you make more, mortgage stayed the same
if you were poor, it doesn't help or hurt as long as wages keep up
if you have all your money in a bank account, vs property or investments, gonna hurt

I remember my grandparents paying like $125 a month on their mortgage when I was younger, due to inflation in wages, it seemed like nothing to them, compared to what it felt like when they first took out the mortgage

 

Just I thought. In alternative reality everything is upside down.

 

The housing market and real estate in general has been inflating since the 90s. There was already one bubble that burst in it, but it wasn't enough to stop the inflation. Blaming this solely on Biden is pure stupidity.

 

Show me where I pinned the blame on Biden...and then it would be a relevant tangent. The problem is that I did or said no such thing. He was talking about the fed raising interest rates and I correctly pointed out that they raise interest rates in response to inflation, so therefore his tangent was a strawman.

 

Interesting take.

Tell me, how is it that you think that shutting down an economy leads to inflation? In your mind, what is the economic principle(s) involved that tie together shutting down an economy with inflation? Enlighten us please.

This should be interesting.

 

Jan 20, 2021 he became President and immediately started paying people to not go back to work, supporting the shutdowns, passing his HUGE unnecessary spending bills and shutting down our energy independence. Thus Bidenflation.

 

How did French monetary policy which governs the inflation of their currency case inflation in our currency? How did German? How did Luxemburg?

Are you claiming that none of our inflation was driven by our own internal policies?

 

Very simple – it is called supply and demand. You should look that up.

 

Here is a little geography lesson – France and Germany are in same earth as USA.

 

You're one claiming that destructive inflation = prosperity.

Sudan has 260% inflation, they are really "prosperous".

 

Do you notice a trend line there?

Mortgage Rate today lower then when Great GOP President Reagan took office 2nd time Jan 1985 – 12% left 10% down 18%

Mortgage Rate today lower then when Great Conservative President Bush H took office Jan 1989 – 10% left 7.31% down 27%

Mortgage Rate today lower then when Two term Republican President Bush W took office Jan 2000 – 8% left 5% down 40%

Biden Jan 2020 3.11% today 7.5% up 240%

 

Yes, when the increase in money supply exceeds the increase in goods and services, prices increase, crowding out the poor and working class that produces most of those goods and services. That might be great for the rich, but it impoverishes everyone else.

 

Well here is a little geology lesson for you they are not IN the earth they are ON the earth. Here is a little economic lesson for your, currency inflation is driven by the monetary and fiscal policy of the manager of that currency and what backs it.

Are you claiming that none of our inflation was driven by our own internal policies?

 

You're also arguing that "inflation is good". You seem to be spinning yourself dizzy here.

Bidenomics = Inflation
Inflation means you can't afford things.
Endeavor argues that not being able to afford things = prosperity!

Mortgage Rates Race Toward 8% as Demand Plunges to 3-Decade Low

'High mortgage rates rapidly cooling housing demand'

Now, under Biden, crushed to levels not seen in over a quarter century.

'The Mortgage Bankers Association's index of mortgage applications fell 6% last week to the lowest level since 1996, according to new data published Wednesday.'

 

I am very familiar with supply and demand. In this context, inflation results from an excess of demand.

How does shutting down an economy in the Winter/Spring of 2020 cause an increase in demand that would result in inflation 2-3 years later? I have a firm grasp of this concept, I am not sure that you do,

How does supply and demand factors resulting from the 2020 part of the shutdown interact to be the cause of inflation 2-3 years later? (Especially in a country that manufactures only a tiny fraction of what it consumes) There is an answer that could tie it at least partially to 2020 (its a stretch but does exist), but I suspect you haven't the faintest idea how or why. It is my belief that you are just throwing sh*t at the wall in the hope that something sticks.

Prove me wrong.

 

Bidenomics

 

I asked for you to show me where I pinned the blame on Biden and you say "Bidenomics"?

Does that make sense to you? From where I sit, that is as nonsensical as it gets.

Does it bother you when your one-line replies have no basis in reality?