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this post was submitted on 30 Nov 2023
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And so it begins. If mortgage rates don't drop within the next year or two before too many people's renewals come up, it's going to be a bloodbath. There are probably a lot of people with upside-down loans caused by inflated car prices too.
I'm pretty sure that's what most banks are waiting for and have learnt to better exploit the housing sector thanks to the collapse back in ~2008 (where they suffered zero repercussions). And where they picked up billions in foreclosed homes thanks to the crash, all for pennies on the dollar.
I mean think about it, it's these guys that artificially make the economy. Absolutely fucking wild the system is so broken and corrupt and everyone is just throwing up their hands like well that's life hur dur.
Questioning the system means questioning the most sacred of cows. Until people are ready for that kind of discussion, it's always going to be band-aid fixes.
What fixes tho? The banks are running wild and everyone is like “ya it’s needed to control inflation.”
You’re taking money from all the consumers to try and force business to control their prices? How does no one else think this entire system is absolutely insane?