Been in Austin, Texas for almost 3 years. Place is truly a hellscape, a lot of nice people though (not very many smart ones). When I first moved didn't see a for sale sign for over a year, could hardly find a home for sale on zillow or redfin. last 6 months they've been slowly piling up in some parts of the city with plenty of construction still going on. Same thing on other trendy areas around Texas Hill Country.
Re junk bonds. Thanks to ZIRP etc a whole new and large cadre of people is about to learn the meaning of “dont chase yield”, accompanied by a large cadre of well paid advisors to insurance companies and pension funds who were well paid to know better. Govt/Fed truly the culpable party
They're saying, "Hey, we're losing all our goddamn money, and Christmas is just around the corner, and I ain't gonna have no money to buy my son the G.I. Joe with the kung-fu grip, right? And my wife won't f... my wife won't make love to me 'cuz I ain't got no money, right?" So they're panicking right now, they're screaming "SELL! SELL!" to get out before the price keeps dropping. They're panicking out there right now! I can feel it! They out there!
Been in Austin, Texas for almost 3 years. Place is truly a hellscape, a lot of nice people though (not very many smart ones). When I first moved didn't see a for sale sign for over a year, could hardly find a home for sale on zillow or redfin. last 6 months they've been slowly piling up in some parts of the city with plenty of construction still going on. Same thing on other trendy areas around Texas Hill Country.
That quote by Mary Daly may be the most tone deaf comment I’ve heard in 60+ years on earth!
NFBI $239 trillion and 50% of globally assets. What could go wrong?
And don’t forget most are very levered so it won’t take much to get that snowball rolling
Re junk bonds. Thanks to ZIRP etc a whole new and large cadre of people is about to learn the meaning of “dont chase yield”, accompanied by a large cadre of well paid advisors to insurance companies and pension funds who were well paid to know better. Govt/Fed truly the culpable party
“More money has been lost reaching for yield than at the point of a gun.” - Ray DeVoe
No dollar cost averaging for bread and eggs for Mary Daly!
https://youtu.be/o9VEEdt_dR0
"You say you wanna go to San Francisco
But I, I just don't know
I just don't know"
I think the album cover is apt in the context of this article as it reminds me of that clown make up meme🤡
ABS has been shot in the belly.
My retirement plan is to befriend Jerome Powell. If that fails, armed liquor store robberies.
They're saying, "Hey, we're losing all our goddamn money, and Christmas is just around the corner, and I ain't gonna have no money to buy my son the G.I. Joe with the kung-fu grip, right? And my wife won't f... my wife won't make love to me 'cuz I ain't got no money, right?" So they're panicking right now, they're screaming "SELL! SELL!" to get out before the price keeps dropping. They're panicking out there right now! I can feel it! They out there!