Collapse Coming?

[Altitude sickness]

View attachment 626331

You are correct, it is grounds for one party to sue the other to get out of the marriage contract. There is no method for law enforcement to start the process.

You listed legal reasons one can person could back out of a marriage. Usually to stop the other party from gaining half of the others property.

Someone has to say they were injured.

My extreme idea was solely to keep the governments hands off of property you have already paid taxes on multiple times. If someone had the nads to pursue my strategy. I doubt one would sue the other for not having sex.

Also the father or son would know of the incapacitation at time of marriage.

Again, this is using the twisted lefts lack of morals,

and no more genders. and over taxation against them. I hope someone has the cojones to do it some day.

 

[frankmissing]

It's just one bubble after another, dot.com, real estate crash and now the AI chip and Bitcoin bubble. At some point, they'll both pop. Almost eight decades on this rock, one thing's for certain. Every generation has to learn the hard way.

I think so too! If you look at history, there was a "tulip fever" and now, somewhere, stocks and somewhere, bitcoin have very similar properties)))

 

[BigHill]

wow.

 

[Neophyte]

Time for a reset economically and politically.

 

[Hogpatrol]

What happened? A couple weeks ago, the world was coming to an end. ROFLMAO

 

[Red Leg]

What happened? A couple weeks ago, the world was coming to an end. ROFLMAO

"Generational" catastrophe at least.

In fairness, we are soon due one of our roughly bidecadal corrections.

 

[Hogpatrol]

"Generational" catastrophe at least.

In fairness, we are soon due one of our roughly bidecadal corrections.

Roger that. It's a crime people don't learn from history. How many remember 30 year mortgage rates north of 16.5% and the reasons. KH has a plan for a repeat.

 

[Red Leg]

Roger that. It's a crime people don't learn from history. How many remember 30 year mortgage rates north of 16.5% and the reasons. KH has a plan for a repeat.

God knows I do. Bought our first house in 1980 in South Louisiana just before the oil crash. It set on the market mostly unoccupied from 83 to 85 - on a captain's salary. We took a while getting over that one.

 

[Datchew]

We're definitely overdue for a big rug pull.

There are no certainties, only probabilities in the stock market.

 

[CoElkHunter]

Roger that. It's a crime people don't learn from history. How many remember 30 year mortgage rates north of 16.5% and the reasons. KH has a plan for a repeat.

“Hell, I was there!” In 1982 mortgage rates were slowly declining from 21+ percent. We closed on our first home at 14 percent after it dropped from 16 percent. The neighbors closed at 16 percent after dropping from 18 percent. ALL on FHA 245A negative amortization loans (illegal now) as that’s the only way anyone could qualify for a loan back then. Fun times!

 

[K-man]

Yep! Had a commercial (restaurant) loan through Penn Square Bank in the early 80's at 21 percent. I survived that. Later was a great deal as the buyer of the loan took 25 cents on the dollar to pay it off even though I was current. Some got out at 15 cents.

 

[Scott CWO]

Everything has bounced back. My Nvidia is up 358%.

 

[Skshyk]

Everything has bounced back. My Nvidia is up 358%.

Yes sir! Closed my option positions today. Waiting for a down day to sell some puts and buy calls, I believe they are going to crush earnings and announce a massive buy back! Male lion hunt 2025 here we come!

 

[Skshyk]

 

[rookhawk]

God knows I do. Bought our first house in 1980 in South Louisiana just before the oil crash. It set on the market mostly unoccupied from 83 to 85 - on a captain's salary. We took a while getting over that one.

In defense of the youngsters in the room and society, I think they'd cite your valid statement as "boomer talk". Yes, the 80s were rough, yes the 21% 30-year treasuries were a hell of a tipping point, but there were a lot of other factors that make now a terrible time to be in the "have not" age demographic versus the "haves".

The biggest differences can include cost of living, 37 year high housing costs, and access to good salaries if you're not in a DEI box.

All of those differences pale in comparison to the much bigger issue that everyone glosses over: lack of sound money. 1962 the minimum wage was $1.25, payable in five quarters that were 90% silver with a present value of $28. That's evidence of the decline of sound money.

In addition, if you remove new government spending from the GDP numbers and you remove new immigrant spending, we've actually been in a recession for the past 5 years.

Does this matter? It doesn't if you're an immigrant, you're doing way better off in the USA than you did in your native country. Does it matter if you're a taxpayer without tangible, inflation resistant assets like land, gold, TIPS, or other similar assets? Yeah, you're getting a real thrashing.

The danger this time around is I don't think things are going to work themselves out the way they did in the latter 1980s. We have a very angry couple of generations (Millenials/Y, Zoomers/Zs) that have tremendous debt loads for jobs that don't exist or do not pay back their debts. Their COL and ability to buy a home is an impossible hurdle. Lastly, they lack the gumption and discipline to humble themselves to do with less than they were raised to expect. These generations aren't going to let things flow back to a normal equilibrium, they are demanding socialism at the ballot boxes to get the stuff acquired by others...especially boomers. The unruly mob that possesses nothing will outvote the "haves" that are a declining population over the next 20 years.

Scary times for any of us that have young children in light of the nation's trajectory. I pound into my kids head that they need to avoid debt at all costs, that they need to be resourceful, and that they need to go to university on a free-ride, go to a military academy, or take on a skilled trade. Debt load, fiat currency, and taxation is going to crush these very weak younger generations.

 

[Red Leg]

In defense of the youngsters in the room and society, I think they'd cite your valid statement as "boomer talk". Yes, the 80s were rough, yes the 21% 30-year treasuries were a hell of a tipping point, but there were a lot of other factors that make now a terrible time to be in the "have not" age demographic versus the "haves".

The biggest differences can include cost of living, 37 year high housing costs, and access to good salaries if you're not in a DEI box.

All of those differences pale in comparison to the much bigger issue that everyone glosses over: lack of sound money. 1962 the minimum wage was $1.25, payable in five quarters that were 90% silver with a present value of $28. That's evidence of the decline of sound money.

In addition, if you remove new government spending from the GDP numbers and you remove new immigrant spending, we've actually been in a recession for the past 5 years.

Does this matter? It doesn't if you're an immigrant, you're doing way better off in the USA than you did in your native country. Does it matter if you're a taxpayer without tangible, inflation resistant assets like land, gold, TIPS, or other similar assets? Yeah, you're getting a real thrashing.

The danger this time around is I don't think things are going to work themselves out the way they did in the latter 1980s. We have a very angry couple of generations (Millenials/Y, Zoomers/Zs) that have tremendous debt loads for jobs that don't exist or do not pay back their debts. Their COL and ability to buy a home is an impossible hurdle. Lastly, they lack the gumption and discipline to humble themselves to do with less than they were raised to expect. These generations aren't going to let things flow back to a normal equilibrium, they are demanding socialism at the ballot boxes to get the stuff acquired by others...especially boomers. The unruly mob that possesses nothing will outvote the "haves" that are a declining population over the next 20 years.

Scary times for any of us that have young children in light of the nation's trajectory. I pound into my kids head that they need to avoid debt at all costs, that they need to be resourceful, and that they need to go to university on a free-ride, go to a military academy, or take on a skilled trade. Debt load, fiat currency, and taxation is going to crush these very weak younger generations.

I suspect they will do just fine. Among other things, they are about to experience the largest wealth transfer in history.

MSN

https://www.cnn.com/2024/03/01/economy/millennials-richest-generation-in-history/index.html

Millennial wealth is booming. It turns out avocado toast didn't tank them after all.

It turns out that, after killing off brands and choosing avocado toast over homeownership, millennials are getting wealthy.

www.businessinsider.com

 

[Doug3006]

I’m not convinced that things are much different today than when I became an independent citizen in 1984. I graduated college with a business degree and was thrilled to get a job offer from a defense contractor for a princely salary of $19,500 per year. The same company was hiring truck drivers for $30,000!

I married (very well I might add) right out of school and my wife and I had about $6,000 in cash and about $10k in combined auto loans. So….a negative net worth. Thankfully, college loans weren’t a big thing back then, so at least we weren’t saddled with that! We found a tiny condo and decided to buy rather than rent. I believe we paid 12% interest. I can’t imagine why they loaned us the money, but it worked out well for us and the bank.

Looking back on it, I can’t believe that we came out ok. I suppose it helped to be young and stupid. Anyway, we did make it and I don’t regret eating hamburger helper all those years!

 

[DillonG]

A lot of market turbulence is due to demographics. Real estate is inflated and will crash eventually. This is the same with stock prices and commodities. Everything is based on the fact that boomers are now moving into retirement. The transition will be a significant transition of capital from boomers to millennials.

 

[rookhawk]

I’m not convinced that things are much different today than when I became an independent citizen in 1984. I graduated college with a business degree and was thrilled to get a job offer from a defense contractor for a princely salary of $19,500 per year. The same company was hiring truck drivers for $30,000!

I married (very well I might add) right out of school and my wife and I had about $6,000 in cash and about $10k in combined auto loans. So….a negative net worth. Thankfully, college loans weren’t a big thing back then, so at least we weren’t saddled with that! We found a tiny condo and decided to buy rather than rent. I believe we paid 12% interest. I can’t imagine why they loaned us the money, but it worked out well for us and the bank.

Looking back on it, I can’t believe that we came out ok. I suppose it helped to be young and stupid. Anyway, we did make it and I don’t regret eating hamburger helper all those years!

Doug, your comparison is pretty flawed but I’m not sure you appreciate it. Let me give you some comparisons.

First, your 1984 salary of $19,500 is CPI adjusted to a $60,000 salary today.

Your $6000 in savings is CPI adjusted to $18,500 in savings today.

Your combined $10,000 in car loans is CPI adjusted to $31,000 today.

I’m not sure where you lived at that time, but lets for the sake of argument take a large, rural/suburban county next door to me that is only 45 mins from the Twin Cities.

Average income: $58,000 (LESS than your fresh-from-college income in 1984)
Average home price: $440,000 (Reverse adjusted to 1984 dollars, that’s $142,544)
Average new car loan size: $45,000 ($14,500 in 1984 dollars)
Average used car loan size: $26,000 ($8,400 in 1984 dollars)
Average starting salary for a business undergraduate: $65,000
Average student loan debt for a four year degree: $30,000

So what do the numbers show? Starting salaries are about the same. Cost of a modest home was way cheaper relative to income in 1984. Average auto loans were far less in 1984. Student loan debt has soared from 1984 where most people paid-as-they-went versus today’s meteoric costs.

Oh, and only 45% of Americans have $1000 in cash to cover an emergency today without resorting to a loan or credit card.

Today’s circumstances are not the same as 1984.

 

[ActionBob]

my wife and I had about $6,000 in cash and about $10k in combined auto loans. So….a negative net worth.

Where the cars worthless? Or worth less than $4000? If they had value they belong on the positive or asset side of your balance sheet...