OT. Anyone fight with spouse about money?

[itseasyas1-2-3]

Yep.. and just in time for student loan payments to start back up again. Add the over a trillion in credit card debt, and you have a prefect recipe for a wave of bankruptcies & a nasty recession. Government is trying their hardest to spend their way to positive GDP #, but going to come crashing down in Q4.

Some banks are now starting to make "title loans" and "payday loans." For decades those title loans were mainly reserved for the Security Pacific/Household Finance high interest lending companies.

Payday loans are disastrous for anyone who gets trapped in them. It's one thing to get a signature loan, it's quite another to get a loan until payday...from a bank.

That is not good. Folks on the cusp are in the process of being pushed over the edge.

For the last 8 years, the velocity of money has gone downward, the last 2 months it has surged upward. If it continues, the investors and foreign countries are going to start treating the dollar like a hot potato.

The Federal Reserve can try to protect the USD, but inflation is continuing to defeat that "effort." The debt and spending are inbedded in the economy and if the Fed does try to cut the rates, it won't make any difference.

We are a bankrupt nation, at some point we will default again. It will be because of credit events converging.

 

[dinglefritz]

Some banks are now starting to make "title loans" and "payday loans." For decades those title loans were mainly reserved for the Security Pacific/Household Finance high interest lending companies.

Payday loans are disastrous for anyone who gets trapped in them. It's one thing to get a signature loan, it's quite another to get a loan until payday...from a bank.

That is not good. Folks on the cusp are in the process of being pushed over the edge.

For the last 8 years, the velocity of money has gone downward, the last 2 months it has surged upward. If it continues, the investors and foreign countries are going to start treating the dollar like a hot potato.

The Federal Reserve can try to protect the USD, but inflation is continuing to defeat that "effort." The debt and spending are inbedded in the economy and if the Fed does try to cut the rates, it won't make any difference.

We are a bankrupt nation, at some point we will default again. It will be because of credit events converging.

China holds a huge amount of US debt. Supposedly they’re buying up Chinese company stock to prop them up. Their economy is in a freefall with massive unemployment. India recently made a large purchase from the UAE and didn’t use dollars for the first time. ☹️ The destruction of the dollar that was started 10 years ago has accelerated with the IRAct. Scary times.

 

[itseasyas1-2-3]

China holds a huge amount of US debt. Supposedly they’re buying up Chinese company stock to prop them up. Their economy is in a freefall with massive unemployment. India recently made a large purchase from the UAE and didn’t use dollars for the first time. ☹️ The destruction of the dollar that was started 10 years ago has accelerated with the IRAct. Scary times.

China has been reducing their US debt.

China is currently in a housing crisis. In that same part of the world, Japan and Singapore exports are down 15% - 20%.

The 10 year US Treasury has ballooned to 4.22%. When those rates begin to drop, balloons are going to pop.

The US supply chain is becoming so strained, a guy had a car accident on a decade old Audi. Rather than the
insurance company paying to have the vehicle repaired, they paid the guy $ 5,000.00 more than the book value
because there were no parts available.

Come next week, between Aug 22 -24 the BRICS nations are expected to announce a gold/commodity
(oil/rare earth minerals/grain, etc) as a commodity backed reserve currency, that will eventually be direct competition to the USD. Initially, its expected that it will be used initially to settle trade among BRICS countries.

It may be somewhat similar to when the Euro was launched. Initially, it was used between European countries for trade settlement between countries, then, eventually the Euro currencies came into play.

 

[NebChicago]

This thread is still going strong!? My god this must’ve struck a chord

 

[RedBaloneyPony]

This thread is still going strong!? My god this must’ve struck a chord

Yeah it turned into two old rich guys painting a beautiful picture of americas economy and trajectory.

 

[itseasyas1-2-3]

Yeah it turned into two old rich guys painting a beautiful picture of americas economy and trajectory.

I know about dinglefritz, but who's the other old guy? LOL

People can live in their world of normalcy bias, but

reality is gonna bite people in the ass.

 

[TampaBaySkers]

Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash | CNN Business

Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.

amp.cnn.com

 

[itseasyas1-2-3]

Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash | CNN Business

Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.

amp.cnn.com

Burry is a bad (as in good) dude. He's been wrong, on occassion changed positions, but on the big stuff he's been right.

I follow a lot of really smart dudes, but there is no one on this planet that has a full handle on how the thing plays out.

Timing is impossible. I'm gonna be early, real early, and I don't worry about growth.

I focus on protecting what I already have. That's all any of us can do.

 

[cornhustler]

Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash | CNN Business

Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.

amp.cnn.com

Markets go up and down and round and round.

- Live below your means
- Invest using dollar-cost averaging
- Avoid management fees
- Develop a marketable skill

Life is way too short to try and time the market or fret about total economic collapse.

Work. Invest. Bone. Repeat

The Index Card - Wikipedia

en.wikipedia.org

 

[TampaBaySkers]

Markets go up and down and round and round.

- Live below your means
- Invest using dollar-cost averaging
- Avoid management fees
- Develop a marketable skill

Life is way too short to try and time the market or fret about total economic collapse.

Work. Invest. Bone. Repeat

The Index Card - Wikipedia

en.wikipedia.org

Ill keep boning

 

[itseasyas1-2-3]

Markets go up and down and round and round.

- Live below your means
- Invest using dollar-cost averaging
- Avoid management fees
- Develop a marketable skill

Life is way too short to try and time the market or fret about total economic collapse.

Work. Invest. Bone. Repeat

The Index Card - Wikipedia

en.wikipedia.org

You make 7 points. I agree with 3 points and respectfully disagree on 4 points. (Edited from 2/5).

 

[Huskers123456]

Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash | CNN Business

Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.

amp.cnn.com

I swear I see that headline every couple of months. Doesn't that guy predict a crash every few months?

 

[Huskers123456]

Ill keep boning

I wish they would move it up to first, before work. Nothing better than boneing before work.

 

[SuperBigFan]

Markets go up and down and round and round.

- Live below your means
- Invest using dollar-cost averaging
- Avoid management fees
- Develop a marketable skill

Life is way too short to try and time the market or fret about total economic collapse.

Work. Invest. Bone. Repeat

The Index Card - Wikipedia

en.wikipedia.org

Are you quoting RATT?

 

[cornhustler]

Are you quoting RATT?

That solo though!

 

[dinglefritz]

Burry is a bad (as in good) dude. He's been wrong, on occassion changed positions, but on the big stuff he's been right.

I follow a lot of really smart dudes, but there is no one on this planet that has a full handle on how the thing plays out.

Timing is impossible. I'm gonna be early, real early, and I don't worry about growth.

I focus on protecting what I already have. That's all any of us can do.

Headlines can be extremely misleading as can a reporter’s interpretation of an investor’s moves. A short term correction in a given sector can easily be 5-10%. So a guy things that sector is going to experience a 10% correction over a fiscal quarter or less. He can short it and then buy back his shorts when it hits his target 2-3 months later. That’s not really betting on a CRASH. That’s generating an annualized 40% return. Sensational headlines draw clicks.

I told you about buying WWW at 8-3/4 after it had been in the mid 30s. Nothing had really changed in their business model or prospects. It was just a run for the doors and it made me a lot of money when it returned and exceeded its previous price. Buy low sell high or sell high and buy low.

 

[itseasyas1-2-3]

Headlines can be extremely misleading as can a reporter’s interpretation of an investor’s moves. A short term correction in a given sector can easily be 5-10%. So a guy things that sector is going to experience a 10% correction over a fiscal quarter or less. He can short it and then buy back his shorts when it hits his target 2-3 months later. That’s not really betting on a CRASH. That’s generating an annualized 40% return. Sensational headlines draw clicks.

I told you about buying WWW at 8-3/4 after it had been in the mid 30s. Nothing had really changed in their business model or prospects. It was just a run for the doors and it made me a lot of money when it returned and exceeded its previous price. Buy low sell high or sell high and buy low.

The thing is, Burry had the balls to make a giant call back in the day and was compensated MILLIONS for his position.
He now has a couple of rather large put options, so he has put his money where his mouth is.

It's similar, yet dissimilar to what Buffett just did with his Singapore semi-conductor stock. He's not known as a short holder of a stock guy, yet he bought, and then unloaded that stock is just a few months. What was his reasoning? He said he fears an upcoming war between China and Taiwan. He knows that is a confiict that would draw the USA into. He has way more inside information than either of us.

 

[WHCSC]

I agree, if not a couple months earlier.

What should someone who is hoping to retire in 3 years do in this situation?

 

[king_kong_]

What should someone who is hoping to retire in 3 years do in this situation?

Convert all your money to precious metals and bury it in your backyard

 

[WHCSC]

Convert all your money to precious metals and bury it in your backyard

That sounds like work

 

[itseasyas1-2-3]

Build yourself a little sauna & sit in it for 5mins at the end of each day

Morning shower w coldest water (90seconds - it sucks ass and you’ll dread it but that’s good for you too lol)

Yoga (sounds girly/stupid, is not) 3x/week (30mins)

all really good for joints/breathing, too. free decade’s worth of time reversal no matter what else you’re up to (booze, diet, etc)

kong, I've heard, just in the last 2 days, research from Japan has been showing unusual results from using ice plunge/ice tub BEFORE any exertion has dramatically reduced the PSAT levels in those participating, AND it has shown, somehow, their testosterone has increased by up to 500 points. That's massive.

It's a large enough number to send your wife scurrying to safety shortly after you take the plunge.

(And I'm worried about shrinking when I take a cold shower).

 

[itseasyas1-2-3]

Convert all your money to precious metals and bury it in your backyard

In all honesty I wouldn't recommend that. I wouldn't recommend anyone being exclusively in only one asset class.

Besides, what WHCSC says about all that work, things being as they are, modern metal detectors can go 4' or more
into the soil, so, a guy could really lose his ass.

I just suggest everyone do things that make sense to them and hope for the best.

 

[king_kong_]

kong, I've heard, just in the last 2 days, research from Japan has been showing unusual results from using ice plunge/ice tub BEFORE any exertion has dramatically reduced the PSAT levels in those participating, AND it has shown, somehow, their testosterone has increased by up to 500 points. That's massive.

It's a large enough number to send your wife scurrying to safety shortly after you take the plunge.

(And I'm worried about shrinking when I take a cold shower).

yep

people wonder why I have so much zest for life on this board

now you know

also - cold exposure DURING exercise has also shown tremendous benefit in terms of more output (up to double) at faster intervals

 

[itseasyas1-2-3]

yep

people wonder why I have so much zest for life on this board

now you know

also - cold exposure DURING exercise has also shown tremendous benefit in terms of more output (up to double) at faster intervals

So the only reprieve your wife gets is when she is at work? Does she always volunteer for overtime?

 

[king_kong_]

So the only reprieve your wife gets is when she is at work? Does she always volunteer for overtime?

my wife doesn't work

 

[itseasyas1-2-3]

yep

people wonder why I have so much zest for life on this board

now you know

also - cold exposure DURING exercise has also shown tremendous benefit in terms of more output (up to double) at faster intervals

One thing about science, it stays in flux. What was once considered a negative has been transformed into proven positives.
(Think of a long time ago in football practice, salt tablets and depriving kids of water.)

It's not for me at my age, but I think young guys who really work out hard could really benefit by considering revolutionary new methods that are being proven through tests and actual live studies.

I've told my kids, I'll be the family guinea pig. If there's new proven science in things that make the body healthier, I'm likely to give it a test run if I feel it will help myself or someone I care about that could benefit from it.

 

[itseasyas1-2-3]

my wife doesn't work

That poor, poor woman. Please extend Mrs. kong my regards.

 

[king_kong_]

One thing about science, it stays in flux. What was once considered a negative has been transformed into proven positives.
(Think of a long time ago in football practice, salt tablets and depriving kids of water.)

It's not for me at my age, but I think young guys who really work out hard could really benefit by considering revolutionary new methods that are being proven through tests and actual live studies.

I've told my kids, I'll be the family guinea pig. If there's new proven science in things that make the body healthier, I'm likely to give it a test run if I feel it will help myself or someone I care about that could benefit from it.

the thing about the "revolutionary new methods" is usually they're the oldest and least expensive things humans have been doing for millennia

hot/cold exposure has been practiced by many cultures the world over since the dawn of man

it's good for everyone. just like walking on the earth with your bare feet.

 

[itseasyas1-2-3]

the thing about the "revolutionary new methods" is usually they're the oldest and least expensive things humans have been doing for millennia

hot/cold exposure has been practiced by many cultures the world over since the dawn of man

it's good for everyone. just like walking on the earth with your bare feet.

It's like what people consider "gross" even though hundreds of countries have a population that drink their own urine.
People think its a waste product, yet, it's actually sterile.

They fail to realize that most of the moisturizers and body lotions contain some form of urea which is part of urine.

There's a;ways that stigma among those that are uninformed/misinformed. They make light of real proven results, I just consider them to be ignorant, so there's no point in arguing with them.

 

[dinglefritz]

my wife doesn't work

She’s married to you🤔

 

[itseasyas1-2-3]

She’s married to you🤔

Being married to kong has got to be a lot of work. (Plus she thinks Chubba should be #2).

 

[RBigredMax]

Being married to kong has got to be a lot of work. (Plus she's a Chubba supporter).

 

[king_kong_]

She’s married to you🤔

lol!

very fair point. plus our small children are also much more work than anything in the corporate/healthcare world would ever be (she's an RN).

my wife works 1,000x harder than I do, that's for sure.

 

[RBigredMax]

lol!

very fair point. plus our small children are also much more work than anything in the corporate/healthcare world would ever be (she's an RN).

my wife works 1,000x harder than I do, that's for sure.

Kong what line of work are you in?

 

[itseasyas1-2-3]

Kong what line of work are you in?

He's paid to troll any Redshirt Fresman.

 

[king_kong_]

Kong what line of work are you in?

sales

 

[itseasyas1-2-3]

sales

He's in charge of HH's memorabilia sales.

 

[king_kong_]

He's in charge of HH's memorabilia sales.

did you see HH at the training table in episode 1 of A Look N?

said next stop is 250lbs

 

[itseasyas1-2-3]

He's in charge of HH's memorabilia sales.

He was previously demoted as head of marketing for the BIG.

 

[dinglefritz]

did you see HH at the training table in episode 1 of A Look N?

said next stop is 250lbs

Somebody on the radio said he looks all of 245 a few days ago. Seems like it was Damon. He and Sims are both big dudes. I don’t know how much QB HH will play but they’re going to get him in some games. He and Fidone could be nice redzone targets.