Sound financial advice?

Started by W8taminute, May 12, 2022, 08:34:23 AM

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W8taminute

The following video came across my YouTube feed this morning.  I agree with a lot this guy is saying.  Are things getting worse where you live? 

I've heard that the east coast may be experiencing a diesel and or gasoline shortage within the next 2 weeks.  I hope it's just a rumor but keep your tanks full everyone. 

Meanwhile grocery prices continue to climb where I live.  I used to pay 200 a week to feed a family of 4.  Lately I've been paying 250 or more buying the same type of groceries.  I remember paying roughly 180 a week for groceries pre 2010.  Prices climbed to 200 afterwards but stayed there until 2020. 

The information this video shares seem to suggest it's going to get a lot worse soon. 

"You and I are of a kind. In a different reality, I could have called you friend."

Romulan Commander to Kirk

Sir Slash

I actually think this makes things much simpler. Now I know what to get everyone on my Christmas List this year,  a Five-Gallon tank of Gas.  ^-^
"Take a look at that". Sgt. Wilkerson-- CMBN. His last words after spotting a German tank on the other side of a hedgerow.

jamus34

#2
Didn't watch the video but I absolutely wouldn't buy a house right now. Markets at record levels and with rates rising is gonna crash. If I'd had to guess we're at about 11:58 on the doomsday clock to fiscal fuckdom.
 

High inflation
Above average market valuations
Workforce issues
Supply chain issues
Fuel at record highs

Even with everything else the country is dealing with those are major red flags.
Insert witty comment here.

acctingman

Yea, wouldn't want to buy, but I'd love to sell. Seattle housing market is stupid crazy. Average mid-sized homes in the area I live in are going for 900k-1.2m.

Silent Disapproval Robot

I dunno.  I didn't buy when I moved to Vancouver in 2010 because people were saying it was a bubble and things seemed stupidly expensive then.  I rented instead and saved in the hopes that the bubble would burst.  It never did.  Houses that were selling for $450K in 2010 are going for $1.4m now and the savings and investments I have been sitting on are getting wiped out by inflation.

Tangible assets would've been the better bet.

jamus34

Dunno who you were listening to then SDR but that would have been shortly after a pretty ideal time to buy (2008 real estate / financial meltdown)

Buying right now means you would be buying at a) all time high real estate pricing and b) with increasing interest rates.

Willing to bet as the rates keep going up you will see a larger percentage of people buying ARMs. I don't think we'll have the out and out fraud we did prior to 2008 but there's going to be another bust at some point.

Personally I feel the next bust will be the college scam. It's already starting with some of these small ultra-liberal arts colleges going belly up. One way of the other the college landscape will probably change drastically over the next 5-10 years.
Insert witty comment here.