So who is going to Crash Wall Street before November?

[rareboy]

We have been making out like bandits on our investments this year because of ??????. The Dow closes over 40,000 when Trump said Biden would destroy it.

We are hedged and diversified to the hilt, but I am so suspicious that the PTB will collude to crash the markets in October this year in order to trigger a recession and help Trump win.

We are very philosophical this week after a colleague died and we are reminded that money doesn't count when you are ashes.

My money is on Elon Musk...but I could see a collapse of orders on Amazon being the cause as well.

What is your guess?

 

[cityboy-stl]

I'd put a $1 on Putin or Xi. Maybe another $1 on Middle East chaos. Just a guess.

 

[NotHardUp1]

Round II of the AOC-MTG Bitch Slap-off.

They should just go ahead and turn over the House to the rabble permanently.

 

[Rickrock]

I don't know about the stock market, but I find it interesting that banks are offering short term high yield CDs that end about the time of the election. They don't know what will happen after the election and won't guarantee high interest rates after that.

 

[EddMarkStarr]

Big banks are no longer making car loans, in partnership with insurance companies that won't cover cars purchased with loan terms greater than four years.

 

[belamyi]

 

[smokeshadow]

Big banks are no longer making car loans, in partnership with insurance companies that won't cover cars purchased with loan terms greater than four years.

An automobile should not cost so much that one needs more than 48 months to pay of a loan Think I'll blame computerization and planned obselescense and the inability for a shad-tree mechanic to be able to repair an automobile

 

[rareboy]

The 2008-2010 shattered the automobile industry but they learned nothing.

The last gasp response to sell everyone a truck with outrageous payments will only lead to the same outcome as last time.....repos galore as people declare personal bankruptcy.

 

[EddMarkStarr]

What happened to the "Housing Finance Revolution" from earlier this year where the inflated value of homes for sale would be lowered to reasonable levels?
Nothing can destroy Wall Street faster than rational home prices.

 

[unloadonme]

 

[fredroy]

I don't know about the stock market. I have a 401k and while the stock market earnings look fabulous, and I'd like to get some of that, I just want the money I put into the account pre-taxes with a nice bump for interest. I'm pulling it out slow so I'm getting just 12k a year. SS might be taxed a bit, it changes every year.
But that's my plan. Get my 401k slow enough to not owe taxes.

 

[rareboy]

What happened to the "Housing Finance Revolution" from earlier this year where the inflated value of homes for sale would be lowered to reasonable levels?
Nothing can destroy Wall Street faster than rational home prices.

I suspect that we are definitely back to the days of people over-financing their houses and using them as a piggy bank.

 

[fredroy]

Do you mean similar to getting a reverse mortgage?

 

[rareboy]

Do you mean similar to getting a reverse mortgage?

No...not necessarily. To do that, you pretty much already have to own the house. Which is why it is used by seniors to produce a thin stream of income.

These are people who are borrowing against the future value of their houses and partial equity to buy toys. It is one of the factors that caused the crash of 2008 to 2010 when suddenly mortgages were higher than people could sell their house for when they lost their jobs and couldn't re-finance with 2nd mortgages.

 

[fredroy]

I've watched the commercials on TV and read a bit. A reverse mortgage, yikes, what a way to fuck your kids over.

This place is all paid for. It goes to the boys. It's their inheritance, actually. What they do when I croak, well, it's theirs. My current goal is to grow savings.. I want to get over $100,000 between savings and t-bills. Then I can start paying it out. No point in having it for a nursing home to take.

 

[rareboy]

It also might just end up being purely simple corporate greed that kills the fatted calf if consumers exit because wages are not keeping up with inflation.

 

[fredroy]

Ok. I got it. Years ago we tried to refinance but could not. Because it's a private driveway from the paved road. And the county, to recognize the road easement wanted 40 feet on each side of the property line. I didn't bother asking the neighbors.

 

[EddMarkStarr]

Yes, it's True - me and the lads just make it all up every week. Now the secret is out.

 

[NotHardUp1]

I've watched the commercials on TV and read a bit. A reverse mortgage, yikes, what a way to fuck your kids over.

This place is all paid for. It goes to the boys. It's their inheritance, actually. What they do when I croak, well, it's theirs. My current goal is to grow savings.. I want to get over $100,000 between savings and t-bills. Then I can start paying it out. No point in having it for a nursing home to take.

But each person to his or her own.

Some couples don't have kids. Most gays don't have kids.

Lots of families are fractured.

Women outlive men, and may be running out of financial means.

With the average life expectancy in developed countries, the death of the surviving parent occurs in one's 50's on average, or later. That means an inheritance comes after one has built up one's own wealth, and have almost reached retirement. There should be no need at that age for the free money.

And, of course, the notion of an inheritance is cultural and time-related. Until relatively recently, there wasn't any wealth to leave to children of the working class. You lived in a rented property, and when you died, you only left personal property.

Farmers had more, but even then, dividing up a farm is a diminishing return. It obviously affected how England allocated inheritance of estates for a long time.

Some of us are also noc in agreement that inherited wealth is a good thing socially. It encourages indolence in some, and absolutely creates disparity in a meritocracy.

 

[NotHardUp1]

I don't know about the stock market, but I find it interesting that banks are offering short term high yield CDs that end about the time of the election. They don't know what will happen after the election and won't guarantee high interest rates after that.

Do the math. CDs are offered all the time at 6-month terms. We're six months from the first of November.