As I watch everyone jumping out of their underpants to convince us that we are not going into recession, I just have to shake my head because we have been in recession since 2020. We just printed 5 TRILLION dollars in two years to make it look like we weren't. It literally took Obama 8 years to print that much money.
We did not create anything new. Our production didn't go up. We are not better off. But.... I do find it fascinating how people cover this. For instance ZH says the fall in new hone sales is the largest since 2010. No mention of all that Keynsian money printing. Maybe it's because our guy started this fire - Biden only threw a little gas on it. I fixed his chart with the one below that shows the fall in real estate is basically back to the trend line. The lower arrow is Trump, the upper Biden.
I mean, honestly... what do they think is going to happen when they take the crack away? Oh... that's right. This has been going on so long that people don't really know or care. It's all a surprise.
Such an effin clown show. I honestly think I'm the last fiscal conservative on earth. Apparently money printing is fine if it's your guy. And it's one thing to make it so people don't get evicted in a pandemic. It's quite another to have housing prices to go up 20% YOY.
I mean, I look at my new neighbor (who paid 500k over asking) and wonder if they know there has been an eviction moratorium for two years creating an artificial shortage. Or if they know how much inventory will be coming on. I think it's the most since the 1970's that is in some stage of development.
Additionally it seems like hoarding is finally tapering off. How anyone thinks this isn't going to be bad is living in an alternate reality. I mean... Trump basically used the helicopter money firehose. What kind of creative financial tools do they have left?
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