skells @skells@qoto.org
Joined Feb 2021
skells
boosted
Oil is so skewed right now between the paper price and the physical price. I read that Brent went under $100 and a physical trader offered to buy at $105 and couldn't find a seller.
@Crazypedia @masculine_entity plot twist: they dual expressions of the same entity
@NBS @midway @11112011 @harblinger all valuable insight, i'd like to reiterate that contango is a fantastic word
@showart that's gotta be the one
skells
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By MountainJay - Marie's Revolutionary Let Them Eat Macaroni & Cheese
@11112011 grass and it's condsequences have been a disaster for modern society
where do people get their news from
particularly interested in UK/european news
skells
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@thatguyoverthere do you plan to eat them?
not an edge post, genuine question
skells
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Regardless of the CPI numbers today, we're reaching real Weimar hours economically. I'm finally starting to see some of that "we thought we had become rich!" regret seeping through amongst those who thought selling an asset early this year or last. I know people who sold their home for what they thought was "Fuck you" money now just sitting in a rental because they can't afford to buy or build. I know people who traded in their perfectly good, late model cars for a "windfall" who are now stuck driving around in 90's beaters because they can't afford these $10k dealer markups on basic economy sedans.
This is also why I don't think any of you expecting housing prices to come down to sane levels (50-70% crash at these mortgage rates) should get your hopes up. That requires people to sell and right now everyone who owns a home is grandfathered in to a cheap price at free (3% or less) interest on their mortgage. They're simply never going to list that house and if mass unemployment threatens to leave millions homeless, you can bet the government will bring back the lockdown era mortgage deferral policies.
This is also why I don't think any of you expecting housing prices to come down to sane levels (50-70% crash at these mortgage rates) should get your hopes up. That requires people to sell and right now everyone who owns a home is grandfathered in to a cheap price at free (3% or less) interest on their mortgage. They're simply never going to list that house and if mass unemployment threatens to leave millions homeless, you can bet the government will bring back the lockdown era mortgage deferral policies.
@sim agreed, can't say I'm impressed with much going on rn, important to Keep things in perspective in any case
@sim a good deal of that consumerism is fuelled by cheap money; people are floated above reality by monetary policy and have the freedom to experiment and take risks.
with the economy coming into a genuine slowdown people will be forced to husband their energies and get their feet back on the ground - with the added benefit of all the diversity we have seen join the country, fresh blood, fresh ideas are all good as long as they don't overwhelm the spirit of a country.
@sim That being said, Britain is no longer an empire and the way forward, IMO, is more decentralisation and localism
Joined Feb 2021
