Stock market news today: Nasdaq futures sink 4%, Dow futures cascade down as global sell-off intensi

[Wingnut]

In two years when my wife and I retire, we’re going to move into our parents house on a lake in northern Minnesota as they are moving into an apartment. We bought the house from my parents back in 2020 for $350,000 at 2% interest


There was a house on that same lake that just sold and it was the same size house as my parents house and it sold for $620,000


Wow. And if the value of that house drops over the next few years, it sucks to be those people. My wife and I owe 160,000 on my parents house at a fixed 2% rate

Not a day goes by that I’m on bended knee thanking the Lord above… Lol

Nice.  Say, How are the deer fly's.  Gonna be in Walker/Leech Lake in a month.  Those buggers are nasty.

[LMAO]

Nice.  Say, How are the deer fly's.  Gonna be in Walker/Leech Lake in a month.  Those buggers are nasty.

Two weeks ago I would’ve told you to stock up on bug spray

But we have cooler weather coming in so I couldn’t tell you what it’s like now. But It should be better come September

What brings you up to Leech Lake? Fishing?

[Bigun]

Two things drive rural real estate in southern Iowa - ag productivity and hunting value. Deer hunting has been the main driver for the last 25 years and had tripled land values to upwards of $3000 per acre before it started slacking off about 10 years ago.

To the west of me where I live in the Florida of Iowa, along the Missouri line clear to the western border, are low pop counties with generally poor soil, mostly dominated by Amish and Mennonites who can make it on smaller tracts of good soil along creek bottoms and such. That tends to keep a lid on things v. other more productive areas like Illinois.

Recently I looked and scrub pasture out in that area was going between $5-10K per acre. It's nothing but the froth of speculation and fools getting parted with their money. It's gonna be on helluva collapse when it happens.

Here its people trying to escape from Harris and Ft. Bend counties along with Exon/Mobil, Chevron, and others moving in but $60,000 per acre is still insane!

[DefiantMassRINO]

When the $h!t hits the fan, home equity lines of credit disappear.  Happened to me in 2008, even though I had 40% equity in the house.

[libertybele]

I bought land here for $600 per acre in the 1980s and just learned of a sale nearby at $60,000 per acre. Insane!

Houses and land are insanely high,  but I do think though we will see a real estate bubble that will burst.  Those that bought homes or re-financed when mortgage interest rates were low, will do fine. 

How are those starting out able to afford housing?? Sellers right now are lowering prices, but even at that it takes a heavy down stroke to get into a home and on top of that high interest rates; but nothing like the interest rates under Carter (yet). Rent is the same way; first month, last month and security deposit; all add up to a hefty sum.

[Free Vulcan]

Here its people trying to escape from Harris and Ft. Bend counties along with Exon/Mobil, Chevron, and others moving in but $60,000 per acre is still insane!

I wish I knew who was buying and why. This area is a Rust Belt backwater and people don't tend to move here, because they can't keep up their big city lifestyle or push their liberal spendy politics. Hope that hasn't changed and the west coast townies haven't tried to plant here.

[corbe]

The Wheels Have Started to Come Off for the U.S. Economy, and the Worst Is Yet to Come

by Michael Snyder  August 5, 2024 in Financial, Opinions

(The Economic Collapse Blog)—For a long time, there was a lot of denial about the direction that the U.S. economy was heading.  The Biden administration and the mainstream media just kept insisting that everything was just fine even though everyone could clearly see that it wasn’t.  But now reality is setting in.  Last week we got some numbers that Wall Street really didn’t like, and a massive temper tantrum ensued.

The panic that we witnessed on Friday was quite breathtaking, and many are concerned that it could bleed over into the new week.  Investors are desperate for the Federal Reserve to cut interest rates, but so far the Fed has not moved.

On Friday, many were surprised when the employment numbers were much worse than anticipated…

U.S. job growth cooled sharply in July while the unemployment rate unexpectedly rose to the highest level in nearly three years.

The Labor Department on Friday reported that employers added 114,000 jobs in July, missing the 175,000 gain forecast by LSEG economists. The unemployment rate also unexpectedly inched higher to 4.3% against expectations that it would hold steady at 4.1%.

It marked the highest level for the jobless rate since October 2021.

<..snip..>

https://conservativeplaybook.com/the-wheels-have-started-to-come-off-for-the-u-s-economy-and-the-worst-is-yet-to-come/

[Wingnut]

Two weeks ago I would’ve told you to stock up on bug spray

But we have cooler weather coming in so I couldn’t tell you what it’s like now. But It should be better come September

What brings you up to Leech Lake? Fishing?

Seeing family and do some recreating!  Kin on my dad's side settled in Nevis, Akeley and the big city of Walker back in the 1800's. And my Sis still lives in Bemidji!

[mystery-ak]

Ian Miles Cheong
@stillgray
·
1h
Senior Biden economic adviser Gene Sperling has just quit. That's probably not a good sign for the economy.

[LMAO]

Houses and land are insanely high,  but I do think though we will see a real estate bubble that will burst.  Those that bought homes or re-financed when mortgage interest rates were low, will do fine. 

How are those starting out able to afford housing?? Sellers right now are lowering prices, but even at that it takes a heavy down stroke to get into a home and on top of that high interest rates; but nothing like the interest rates under Carter (yet). Rent is the same way; first month, last month and security deposit; all add up to a hefty sum.

Those high interest rates of the late 1970s to the early 80s was Vockler(sp) slowing down the economy to bring down inflation.

If the presidential election took place in 1982 instead of 1984, Reagan would have been a one term president. His JAR was in the toilet. If I remember correctly, there were some Republicans that thought Reagan should dump Vockler at that time

Who can forget the government cheese? I actually thought it was good.

[Wingnut]

Ian Miles Cheong
@stillgray
·
1h
Senior Biden economic adviser Gene Sperling has just quit. That's probably not a good sign for the economy.

Rats always leave a sinking ship first.  Look for Biden to resign and stick Heels-Up with the disaster.

[mystery-ak]

https://twitter.com/DailyCaller/status/1820468720013377985

[mystery-ak]

https://twitter.com/TONYxTWO/status/1820472757471068276

[mystery-ak]

https://twitter.com/joma_gc/status/1820454442350833876

[mystery-ak]

https://twitter.com/kylenabecker/status/1820459648467476525

[mystery-ak]

Guy Benson
@guypbenson
·
1m
‘In an email to the New York Times, a Harris campaign aide said the Vice President has never heard of Bidenomics and will not be commenting further on the matter. When pressed, the aide referred the Times to a video of celebrity supporters singing ‘Imagine’ direct to camera.’

[mystery-ak]

https://twitter.com/RepMTG/status/1820467646426382576

[mystery-ak]

https://twitter.com/kylenabecker/status/1820477882004582909

[mystery-ak]

https://twitter.com/MAGAgpsmith/status/1820463153274409165

[mystery-ak]

I would like to know too!

Wendy Patterson
@wendyp4545
·
2h
Can anyone check how many members of Congress sold their stock in the last 2 weeks?

[mystery-ak]

https://twitter.com/charliespiering/status/1820455701023424958

[mountaineer]

I would like to know too!

Wendy Patterson
@wendyp4545
·
2h
Can anyone check how many members of Congress sold their stock in the last 2 weeks?

You can bet the Pelosis protected themselves.

[mystery-ak]

Charles Gasparino
@CGasparino
·
14m
With all the economic upheaval and an opponent who is utterly clueless about how to address it,  @realDonaldTrump
 will really have to bleep this up not to win in November, do or say something really dumb, which is a possibility as we all know

[LMAO]

I would like to know too!

Wendy Patterson
@wendyp4545
·
2h
Can anyone check how many members of Congress sold their stock in the last 2 weeks?

lol


Good question

[mystery-ak]

Wendy Patterson
@wendyp4545
·
5m
This is all on Biden, Harris, Powell and Yellen

Inflation is up 21.1% while real wages are down 1.9%

Those jobs they boasted about for several months were part time and government jobs that went to the criminal illegal aliens while American born lost jobs in the millions.