The Presidential debate

[alanevans 259]

4 minutes ago, I_M4_AU said:

Is this a joke? We both have experience with family members having dementia and/or Alzheimer’s.  If she felt I was slipping into either of these issues she would let me know and I would expect her to.  And I would do the same for her.

How can we contact your wife?

[arein0 1,105]

6 minutes ago, TitanTiger said:

Ok.  But that's a different argument than "I haven't noticed it."

When I look at our total expenses over time, there is very little difference from 2018-today. That's why I haven't noticed it. There absolutely could be baked in savings that I have mentioned keeping it down, but I don't find the need to investigate it when our savings rate is exactly where we want it.

[TitanTiger 21,239]

2 minutes ago, arein0 said:

When I look at our total expenses over time, there is very little difference from 2018-today. That's why I haven't noticed it. There absolutely could be baked in savings that I have mentioned keeping it down, but I don't find the need to investigate it when our savings rate is exactly where we want it.

I mean, congrats...but understand your situation isn't the norm.

[TexasTiger 14,278]

22 minutes ago, I_M4_AU said:

Is this a joke? We both have experience with family members having dementia and/or Alzheimer’s.  If she felt I was slipping into either of these issues she would let me know and I would expect her to.  And I would do the same for her.

His problems weren’t indicative of either of those. He’s experienced some age-related decline that’s not uncommon and doesn’t inspire confidence. But most 81 year olds would not have faired as well as he did in that scenario. He was fine at the after event. He was too uptight on the stage. BTW, I saw multiple focus groups with younger and middle aged voters stumbling over words and not making much sense after the debate. Many of your posts indicate you’d raise concerns on a debate stage. Quit with the dime store diagnosis and the hatefulness.

[TexasTiger 14,278]

27 minutes ago, TitanTiger said:

Look, I'm not comparing to what things were in the 70s or early 2000s.  And neither am I expecting for historically low 2.75% interest rates to be the norm again.  But even if someone fell somewhere in the middle between the historic lows and where we are now (around 7% national average), it's not good.  Someone with a $250,000 home at 4.25% right now moving even to a home of the exact same price would have their payment go up $350 a month on principal and interest alone.  That's going to stymie home sales no matter what.  And the interest rates are that high because inflation has been so hot.  So folks are getting screwed at both ends.

Sure you’d think twice. But “insane interest rates” is hyperbole.

[TitanTiger 21,239]

12 minutes ago, TexasTiger said:

Sure you’d think twice. But “insane interest rates” is hyperbole.

No one is thinking twice about that transaction unless they've stumbled into some kind of crazy bargain where they're getting a $325,00 house for $250k.  $350 a month would be a 35% jump in their house payment just to have a house of the same price.  The overwhelming majority of normal folks would just be stuck where they are until the rates come back down to something manageable.

But ok.  Yes there used to be *really* insane interest rates.  These are still too high.   

[I_M4_AU 8,933]

32 minutes ago, TexasTiger said:

His problems weren’t indicative of either of those. He’s experienced some age-related decline that’s not uncommon and doesn’t inspire confidence. But most 81 year olds would not have faired as well as he did in that scenario. He was fine at the after event. He was too uptight on the stage. BTW, I saw multiple focus groups with younger and middle aged voters stumbling over words and not making much sense after the debate. Many of your posts indicate you’d raise concerns on a debate stage. Quit with the dime store diagnosis and the hatefulness.

 Denial is not just a river in Egypt.  There are a few dime store diagnosis that people have posted in the past that you have never called out, what changed?

[homersapien 12,226]

1 hour ago, SaltyTiger said:

Spiraling price of everything is really tough on younger people. They have nothing close to the buying power my generation had at their age. When we were first home buyer age a couples combined salaries came close to matching the cost of a moderate home. Sure not true today.

FWIW:

Average hourly wage growth has exceeded inflation for 12 straight months, according to new Bureau of Labor Statistics data released this morning. This real (or inflation-adjusted) wage growth is a key indicator of how well the average worker's wage can improve their standard of living.

May 15, 2024

https://www.epi.org/blog/average-wages-have-surpassed-inflation-for-12-straight-months/

[cbo 8,714]

3 hours ago, I_M4_AU said:

I wonder why this clip isn’t shown on Biden’s media outlets?

 

Jill is the worst wife in America, bar none.

You can’t even take a win when it’s handed to you. What does Jill have to do with anything? 

[TexasTiger 14,278]

18 minutes ago, TitanTiger said:

No one is thinking twice about that transaction unless they've stumbled into some kind of crazy bargain where they're getting a $325,00 house for $250k.  $350 a month would be a 35% jump in their house payment just to have a house of the same price.  The overwhelming majority of normal folks would just be stuck where they are until the rates come back down to something manageable.

But ok.  Yes there used to be *really* insane interest rates.  These are still too high.   

The economy has thrived with higher mortgage rates in the past. We’ve artificially kept rates low much longer than was anticipated while running up the inflation that was ultimately inevitable and then emerging from the pandemic threw gas on it. We need to not get back to printing too much money, but we’re stuck now.

[I_M4_AU 8,933]

1 minute ago, cbo said:

You can’t even take a win when it’s handed to you. What does Jill have to do with anything? 

Sure I can.  I just want it finished and Joe out of the race.  That would be a win.  Are you married?

[homersapien 12,226]

1 hour ago, auburnatl1 said:

IMO bottom line last night was a train wreck for Biden. It will stick in peoples heads and they’ll be thinking if this is 2024, what will 2027 look like?

This is a critical time for the Dems prior to their convention. Trump is a ridiculously weak candidate,  but Biden’s risk and persona may surpass that.

Some tough discussions and choices should be in play.

I'm thinking he will get enough pressure to step down for the sake of the country - and his legacy - and there will be a new candidate named at the convention.

 

[TitanTiger 21,239]

2 minutes ago, TexasTiger said:

The economy has thrived with higher mortgage rates in the past. We’ve artificially kept rates low much longer than was anticipated while running up the inflation that was ultimately inevitable and then emerging from the pandemic threw gas on it. We need to not get back to printing too much money, but we’re stuck now.

What you're saying may make some sense in academic terms, but in terms of what regular folks experience, it's meaningless.  All they know is, just a few short years ago they could buy a house with at around 3.5 to 4% interest - even lower a few years before that.  Now, they'd like to move for various reasons but would take a 35% hit just to remain status quo in terms of the house they can buy (assuming housing prices aren't also up a lot in their area).  It would be worse if they need something bigger.

That feeling isn't going to wear off for a long time and it's a problem.  Get interest rates back down to 5 to 5.5%, and folks might be able to manage.  I don't think that's a rate that's printing money.

[auburnatl1 6,141]

2 minutes ago, homersapien said:

I'm thinking he will get enough pressure to step down for the sake of the country - and his legacy - and there will be a new candidate named at the convention.

 

I had to take the car keys from my mom.  Very very tough. Asking Biden to step aside due to failing capabilities will be a nightmare ask. 

This is his moment.

 

[homersapien 12,226]

44 minutes ago, TexasTiger said:

His problems weren’t indicative of either of those. He’s experienced some age-related decline that’s not uncommon and doesn’t inspire confidence. But most 81 year olds would not have faired as well as he did in that scenario. He was fine at the after event. He was too uptight on the stage. BTW, I saw multiple focus groups with younger and middle aged voters stumbling over words and not making much sense after the debate. Many of your posts indicate you’d raise concerns on a debate stage. Quit with the dime store diagnosis and the hatefulness.

He actually made a whole lot more substantive statements than did Trump through out the debate. 

His problem was with delivery and demeanor.  Regardless, he needs to step down for the sake of the country.  He'll earn a lot of enmity if he doesn't.

[TexasTiger 14,278]

3 minutes ago, TitanTiger said:

What you're saying may make some sense in academic terms, but in terms of what regular folks experience, it's meaningless.  All they know is, just a few short years ago they could buy a house with at around 3.5 to 4% interest - even lower a few years before that.  Now, they'd like to move for various reasons but would take a 35% hit just to remain status quo in terms of the house they can buy (assuming housing prices aren't also up a lot in their area).  It would be worse if they need something bigger.

That feeling isn't going to wear off for a long time and it's a problem.  Get interest rates back down to 5 to 5.5%, and folks might be able to manage.  I don't think that's a rate that's printing money.

Or home prices need to come down when the necessary recession hits.

[cbo 8,714]

8 minutes ago, I_M4_AU said:

Sure I can.  I just want it finished and Joe out of the race.  That would be a win.  Are you married?

I’m married to a very strong woman who always voices her opinions and makes many of our decisions. 

She does not make the final decision on my career choices. And she doesn’t have to contend with the power of a political party. Blaming Jill is asinine. 

[I_M4_AU 8,933]

2 minutes ago, auburnatl1 said:

I had to take the car keys from my mom.  Very very tough. Asking Biden to step aside due to failing capabilities will be a nightmare ask. 

This is his moment.

 

It will have to take a family member to suggest that like you did with your mom.  I would guess your dad was no longer in the picture.  So it is either a nightmare for America or for the Biden family.  Which one would you choose?

[arein0 1,105]

4 minutes ago, TitanTiger said:

What you're saying may make some sense in academic terms, but in terms of what regular folks experience, it's meaningless.  All they know is, just a few short years ago they could buy a house with at around 3.5 to 4% interest - even lower a few years before that.  Now, they'd like to move for various reasons but would take a 35% hit just to remain status quo in terms of the house they can buy (assuming housing prices aren't also up a lot in their area).  It would be worse if they need something bigger.

That feeling isn't going to wear off for a long time and it's a problem.  Get interest rates back down to 5 to 5.5%, and folks might be able to manage.  I don't think that's a rate that's printing money.

I could be wrong, but isn't the point of the higher interest rates to slow inflation by curbing demand to allow supply to catch up? 

[I_M4_AU 8,933]

1 minute ago, cbo said:

I’m married to a very strong woman who always voices her opinions and makes many of our decisions. 

She does not make the final decision on my career choices. And she doesn’t have to contend with the power of a political party. Blaming Jill is asinine. 

Does she have input into your career choices?  Such as your career requiring a move to another area or state?

[DKW 86 7,899]

1 hour ago, TitanTiger said:

Look, I'm not comparing to what things were in the 70s or early 2000s.  And neither am I expecting for historically low 2.75% interest rates to be the norm again.  But even if someone fell somewhere in the middle between the historic lows and where we are now (around 7% national average), it's not good.  Someone with a $250,000 home at 4.25% right now moving even to a home of the exact same price would have their payment go up $350 a month on principal and interest alone.  That's going to stymie home sales no matter what.  And the interest rates are that high because inflation has been so hot.  So folks are getting screwed at both ends.

Watch out. Someone will start telling you are the one with amnesia. I think they meant dimensia but did not want to say that out loud while looking at Biden. 

[cbo 8,714]

Just now, I_M4_AU said:

Does she have input into your career choices?  Such as your career requiring a move to another area or state?

Yes, of course. 

Look, I hope Jill is in Biden's ear every day telling him to step down. It's the right thing for him and the country. 

You have no idea what's going on behind the scenes. Yet you call Jill "the worst wife in America." That's the point. 

[TitanTiger 21,239]

Just now, TexasTiger said:

Or home prices need to come down when the necessary recession hits.

That might help first time buyers - and that's not nothing.  But home prices dropping will also affect those who own a home now because they won't be able to put as much money toward their next purchase.

The biggest thing that affects a mortgage payment is the interest rate, unless housing prices drop approaching 10%, which is pretty significant.  And again - buyers trying to sell their own home will feel this price decrease too and give them less to put toward their next home, not to mention make it harder to sell theirs in the first place.

For example, take a house with a $200,000 loan.  Pretty normal for homes in Alabama outside or really rich areas like Mountain Brook and such.

At 5.5% interest, your monthly principal and interest on that is $1136
At 6.5% interest, it goes up to $1264.  An increase of $128 a month for the same loan.

Now, take that same house and knock $10k off so that your loan is only $190,000.  P&I on it is now $1201.  Still $65 more a month.  You don't see a P&I amount at 6.5% interest that gets below that 5.5% interest rate payment until you get knock off around $22,000 from the house price.

Perhaps a bit of a reduction in housing prices AND a bit of a reduction in interest rates would help? 

And my examples are conservative because I'm using my own situation with a 4.25% rate currently.  People who bought at 3% are going to really be in for a shock.  That's got to be overcome.

[Leftfield 3,361]

4 hours ago, I_M4_AU said:

I wonder why this clip isn’t shown on Biden’s media outlets?

 

Jill is the worst wife in America, bar none.

You have no idea what's going on behind the scenes. She could have been asking him for months to step down. For all you know, she could have asked him not to run in the first place. Once he made the decision, and now that he's out there, she supports him, as any of us would support our spouses in public.

You've proven yourself to be far worse a human being than she has.

 

[I_M4_AU 8,933]

15 minutes ago, cbo said:

Yes, of course. 

Look, I hope Jill is in Biden's ear every day telling him to step down. It's the right thing for him and the country. 

Thank you for agreeing.

16 minutes ago, cbo said:

You have no idea what's going on behind the scenes. Yet you call Jill "the worst wife in America." That's the point. 

So you agree she should be influencing her husband to step down because it is the right thing to do, but are upset that I called her the worst wife in America.  Sounds like you just don’t like me being opinionated.  Ok.