Tuesday, November 30, 2021

This is getting good now.

2008 called. It wants it's narrative back.

I think one of the more frustrating things about this past year is how people act like all this inflation is caused by everything else except money printing. Trump printed too much. And I'm happy for Biden to get the blame, but.... every chart tells the truth.

I'm still in the camp that believes this is transitory. Because I don't believe they can keep printing the amount of money they did in the pandemic. I just didn't expect people to refuse to work together for this long. 

My understanding of the supply chain is that the pandemic rules started making a mismatch with truck drivers. For every ship, there is a truck/s that are suppose to meet the ship at a certain time. Because of the pandemic rules, there became a huge mismatch and trucks were reporting having to wait for 7 days or more at ports waiting for their ship to be able to unload. Without pay.

So... now we have one side of the economy that is full of inflation due to these unexpected circumstances. On the other hand... housing is down four months in a row.

Powel is backed into a corner because he knows these real estate numbers. He knows it's not normal for houses to go up 20% in one year. He knows there is nothing under this economy.

Also... I finally found out how people were able to keep their houses. I have real estate so I get a lot of spam. Last week someone started texting me about the Governments' GSE mortgage relief plan.

Self I said - what is this shit. Apparently - unlike the housing crisis - you can refi your mortgage even if you have 0 equity. Which burns like the surface of the sun. I had to wait 8 years to be refinanced. And I stuck 20% down on my house and never missed a payment!

So now I'm watching HELOCS, because if you were able to refi without equity, chances are you took out a HELOC at the same time. Because that is what people do. Also a couple of weeks ago someone on twitter was saying they took out a HELOC to buy bitcoin. Oy. Who knows how common that is.

So we all know that housing prices never go down. Right? Said in the most sarcastic way. But all that helicopter money is surely gone by now because just this week I discovered two of my favorite restaurants closed. One I tried to save from the very beginning. That wave is now starting. The delay is over.

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