Biggest crash in stock market history?
- Thread starter Dave Taylor
- Start date
rick81721
Lothar
And it still won't happen!
Captain Brainstorm
Well-Known Member
Our inconvenience at the pump will be nothing compared to the inconvenience that the Euros will feel when Putin decides to turn-off the oil and gas as a result of the "crippling" sanctions. They're already in a gas shortage as it is.
serviceguy
Well-Known Member
Correct. Gas and natural gas prices have hit all time high already and going up, my mom told me a few minutes ago she paid $2/liter at the pump (that is about $9/gallon) and the price of utilities has been soaring since the start of this nonsense.
Italy has huge and yet untapped natural gas deposits both inland and in the Adriatic sea that so far were not exploited because they're not 'green', now that apparently neighboring countries have started using them maybe they'll wake up before it's too late. Right now I believe natural gas comes from Russia and North Africa, why would they want to depend on either has always been a mystery to me (not really, quite simply due to corruption).
Same for nuclear power, we voted to ban nuclear energy from being produced in Italy in the emotional aftermath of Chernobyl, the 'green party' just forgetting to mention that as a result the nuclear plants would still have to be supported and paid for in the years to come even though they don't produce any energy, and we would have to buy the energy from France and Swiss that in order to do so keep building new plants in proximity with the border...win win win, just not for the Italian people...
I wonder if cold temperatures and prices will make somebody wake up from the warm and cozy embrace of self righteousness...
Will that actually ever happen though? I’m sure Putin likes that $. And the EU is mostly just posturing with regards to Ukraine.
rick81721
Lothar
Putting takes Crimea during Obozo + Biden, now Ukraine during Biden. Coincidence? Of course not. Putting knows the puppet has no teeth - figuratively and literally!
rick81721
Lothar
Dave Taylor
Rex kwan Do
Well, I didn't say I was trading this and meltups happen in bear markets. Take Russia out of the situation and every index chart looks like a terd...underlying equities even worse. How is your PayPal, Facebook, baba, TSLA stock doing now? Of course all the retailers didn't buy Tesla at 1250...I believe this was just a gap fill as each overnight session has done that. All the big sells have happened over night, recover during day only to sell off again. I did add some more Tesla to my IRA today at $738 but my avg is around $825 now.
rick81721
Lothar
And this guy too
Seriously I don't like his politics but Penn is a great actor and has some serious balls being in the middle of this.
the value of the house has nothing to do with being able to afford the mortgage.
if you are equating this to the mortgage crisis of 2008, it isn't even close.
Dave Taylor
Rex kwan Do
We either print to oblivion or rates sink the ship...no other options really.
Ya I understand that this situation sucks... But you know it's a choice to buy a $700,000 house.... I'm sure a mortgage company would give me the money for such a purchase, but then these types of events happen constantly...covid, layoffs, wars, natural disasters, family member getting cancer, etc etc.... So I stay here in my shitty house and say... Well fuck this house, but I love my Financial situation and I'll get to retire one day
People in the Ukraine are going to wake up soon, walk down to the store and have nothing to buy at any price... If they even have a place to live anymore....That's a crisis.
Dave Taylor
Rex kwan Do
You're right, the housing thing is a choice. We got lucky and did well in NJ. Transferred to Md and we are in a good spot. A better example is the simpletons that got fucked in 2005-2008 and banks approved loans they shouldn't have just to make a buck. Then we bail the "too big to fail" banks out but not the poor sap that can't afford the house. Homeowner eats all debt and banks none.
The other one they sell you..."The American Dream". Like I said, things have gone my way so not complaining about my situation. What does suck is they don't teach you shit about finance in high school then spit you in the real world pushing you to get married, buy a house and have two kids by the time you are 30. Recipe for disaster.
Who's they?
A Potted Plant
Honorary Sod
Why does everything here read like whining children said it?
I remember when I was in college... I started at 21 so I was older and living on my own .. I was working but all my money went to my rent and tuition... So I was also completely broke... I had a credit card with a$500 limit and it would often be at 400... Like as broke as broke can be.... Meantime friends of mine who had jobs in a trade were buying houses.... So one of them had his mortgage guy call me.... He went on and on how he could get me a mortgage... Me?? I'm like you couldn't be any more broke then I was at that time.... Ya it's shitty that they do things like that, but it didn't take a genius to figure out I couldn't afford a home.
Mahnken
Well-Known Member
In my first job out of highschool, my boss gave me some advice. "If the bank is willing to give you a loan, you can afford it." Some of the worst financial advice you can get at 18.
Dave Taylor
Rex kwan Do
Tough to say, leverage is great until it isn't. @UtahJoe , is your house big enough? I was in a shitty situation. Originally we didn't want kids and a 2 br 796 sq ft house was fine...3 kids and COVID later it was not. The problem was not getting raped on a bigger house, as there was a gap between first time homes and $800k homes. Really no inventory. We sort of lucked out in Md but it was stressful at times.
You're right on the mortgage thought though. Seriously, why does anyone mortgage more than 25% of their income?