[Sandi Egan]

Diego,

This:
The fact that the dollar is worth less vis-a-vis gold and oil is an indication that everything else (food, clothing, consumer goods, land, etc.) will have substantial price increases in the near term. And not because these items will be worth more, but because the dollars we get paid with are worth less.

is exactly what makes today house prices more inflated than ever. If we are paid in dollars and have to spend more dollars on stuff we have to buy, we have that much less money to buy things we wish to buy. We just become poorer, less able to buy a house. And because – unlike oil and gold – you cannot move your house wherever you like, the prices are dictated first and foremost by the local economy.
That’s my understanding.

[Sandi Egan]

Qwerty – very nice limerick!

[Sandi Egan]

Qwerty – very nice limerick!

[Sandi Egan]

Qwerty – very nice limerick!

[Sandi Egan]

Qwerty – very nice limerick!

[Sandi Egan]

Qwerty – very nice limerick!

[Sandi Egan]

Vultures? Naaw…
Recession profiteers is more like it.

Vertigo, if it weren’t for people like us, the FBs and their FBanks would not have anyone to sell their homes to, not even at 1/3 price. By the virtue of actually having money to spend we will keep this economy from coming to a complete halt. We are the support line of the crushing housing market. Be thankful.

[Sandi Egan]

Vultures? Naaw…
Recession profiteers is more like it.

Vertigo, if it weren’t for people like us, the FBs and their FBanks would not have anyone to sell their homes to, not even at 1/3 price. By the virtue of actually having money to spend we will keep this economy from coming to a complete halt. We are the support line of the crushing housing market. Be thankful.

[Sandi Egan]

Vultures? Naaw…
Recession profiteers is more like it.

Vertigo, if it weren’t for people like us, the FBs and their FBanks would not have anyone to sell their homes to, not even at 1/3 price. By the virtue of actually having money to spend we will keep this economy from coming to a complete halt. We are the support line of the crushing housing market. Be thankful.

[Sandi Egan]

Vultures? Naaw…
Recession profiteers is more like it.

Vertigo, if it weren’t for people like us, the FBs and their FBanks would not have anyone to sell their homes to, not even at 1/3 price. By the virtue of actually having money to spend we will keep this economy from coming to a complete halt. We are the support line of the crushing housing market. Be thankful.

[Sandi Egan]

Vultures? Naaw…
Recession profiteers is more like it.

Vertigo, if it weren’t for people like us, the FBs and their FBanks would not have anyone to sell their homes to, not even at 1/3 price. By the virtue of actually having money to spend we will keep this economy from coming to a complete halt. We are the support line of the crushing housing market. Be thankful.

[Sandi Egan]

Deal Hunter wrote: Technically, there is a way to escape debt. In 1929, the government stepped in and paid it off for everyone.
Mean Reversion wrote: It will be paid in full. But the value may not be the same.

That’s exactly my point, guys. It has to be paid, either by the debtors, by the creditors or by the government ( which means the rest of us through taxes and inflation). Apparently, each party will have to pay some of it. We will see who will end up with the lion’s share.
Because the enormous amount of debt, I don’t believe it’s possible to write it all down through inflation – that will cause even worse problems. Even BB understands that (although he pretends he doesn’t).

[Sandi Egan]

Deal Hunter wrote: Technically, there is a way to escape debt. In 1929, the government stepped in and paid it off for everyone.
Mean Reversion wrote: It will be paid in full. But the value may not be the same.

That’s exactly my point, guys. It has to be paid, either by the debtors, by the creditors or by the government ( which means the rest of us through taxes and inflation). Apparently, each party will have to pay some of it. We will see who will end up with the lion’s share.
Because the enormous amount of debt, I don’t believe it’s possible to write it all down through inflation – that will cause even worse problems. Even BB understands that (although he pretends he doesn’t).

[Sandi Egan]

Deal Hunter wrote: Technically, there is a way to escape debt. In 1929, the government stepped in and paid it off for everyone.
Mean Reversion wrote: It will be paid in full. But the value may not be the same.

That’s exactly my point, guys. It has to be paid, either by the debtors, by the creditors or by the government ( which means the rest of us through taxes and inflation). Apparently, each party will have to pay some of it. We will see who will end up with the lion’s share.
Because the enormous amount of debt, I don’t believe it’s possible to write it all down through inflation – that will cause even worse problems. Even BB understands that (although he pretends he doesn’t).

[Sandi Egan]

Deal Hunter wrote: Technically, there is a way to escape debt. In 1929, the government stepped in and paid it off for everyone.
Mean Reversion wrote: It will be paid in full. But the value may not be the same.

That’s exactly my point, guys. It has to be paid, either by the debtors, by the creditors or by the government ( which means the rest of us through taxes and inflation). Apparently, each party will have to pay some of it. We will see who will end up with the lion’s share.
Because the enormous amount of debt, I don’t believe it’s possible to write it all down through inflation – that will cause even worse problems. Even BB understands that (although he pretends he doesn’t).

[Author]

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