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Banking failure

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  • biglentil
    Senior Member
    • Jun 2015
    • 3267
    #171
    Fantastic podcast by Edward Griffin author of 'The Creature of Jekyll Island'. Most do not have a clue about the history of the Federal Reserve , the private interests that control the money supply and their plans for us. Even fewer know what we can do about it as individuals. Edward lays it all out in perhaps the most valuable 45min podcast ive ever stumbled across.

    Last edited by biglentil; Oct 18, 2023, 22:55.

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      • errolanderson
        Senior Member
        • Jan 2012
        • 3131
        #172
        Central bankers have seriously broken something in credit markets. Economy now heading down like the Titanic (IMO). Personally, don't understand their inflation battle when the debt crisis is a much bigger foe. They are simply adding more fuel to the credit market fire.

        Have bankers not looked at the deflating commodity market? Yield curves are screaming recession. Auto loan delinquency is now soaring. Mortgage demand failing.

        Good thing I'm not in charge, a lot of central bankers would be looking for a new job.

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          • bucket
            Senior Member
            • Jan 2008
            • 17028
            #173
            Maklem should have been fired long ago.

            He is supposed to have a vision for the economy. He said less than 2 years ago when being questioned by Poilievre that higher interest rates were hypothetical .

            He is going to responsible for many people losing their houses and shitcanning the Canadian economy.

            FFS went to get a 4 litre jug of milk yesterday and was $9.50 locally. A couple years ago would have been $6.

            Absolute incompetence and hurting hard working people.

            Then you have idiot politicians blabber a response to a question using Canada's AAA credit rating as the excuse. Just phuck off , I can't go to my lender and say something that stupid when he asks me a question.
            Last edited by bucket; Oct 24, 2023, 09:16.

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              • biglentil
                Senior Member
                • Jun 2015
                • 3267
                #174
                $115000+tax+pdi+++ for a new 3/4 diesel pickup. Recent study showed that since 2020 the purchasing power of the dollar has decreased by 27%. Errol you've been calling for deflation for as long as I can recall.
                Last edited by biglentil; Oct 24, 2023, 09:47.

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                  • ajl
                    Senior Member
                    • May 2008
                    • 3249
                    #175
                    Originally posted by biglentil View Post
                    $115000+tax+pdi+++ for a new 3/4 diesel pickup. Recent study showed that since 2020 the purchasing power of the dollar has decreased by 27%. Errol you've been calling for deflation for as long as I can recall.
                    To find deflation one has to look at the wheat, barley, oat, canola and pea markets. I have a truck load of canola that has been sitting for a month looking for a rally. The market has to rise $0.50 per bushel to equal what I got for the loads I sold spot a month ago. For the record, I bought a new Ram half ton crew 4 x 4 in June 2023 for $54500 all in including tax. One does not have to spend $100K on a truck, there are lower cost choices out there.

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                      • errolanderson
                        Senior Member
                        • Jan 2012
                        • 3131
                        #176
                        Originally posted by ajl View Post
                        To find deflation one has to look at the wheat, barley, oat, canola and pea markets. I have a truck load of canola that has been sitting for a month looking for a rally. The market has to rise $0.50 per bushel to equal what I got for the loads I sold spot a month ago. For the record, I bought a new Ram half ton crew 4 x 4 in June 2023 for $54500 all in including tax. One does not have to spend $100K on a truck, there are lower cost choices out there.
                        The auto industry is in big trouble. Unions have made their own mess. The word bailouts will again be heard. And discounts galore. Cash is king . . . .

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                          • mcfarms
                            Senior Member
                            • Nov 2004
                            • 1685
                            #177
                            Originally posted by errolanderson View Post
                            The auto industry is in big trouble. Unions have made their own mess. The word bailouts will again be heard. And discounts galore. Cash is king . . . .
                            Interesting radio ad for a Dodge dealer I heard yesterday talking about 13500 cash discounts been a while since cash was worth something to the dealer's

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                              • blackpowder
                                Senior Member
                                • Feb 2010
                                • 9303
                                #178
                                Far from 1980, yet...
                                Patching my daily driver for one more year all the same.

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                                  • errolanderson
                                    Senior Member
                                    • Jan 2012
                                    • 3131
                                    #179
                                    Originally posted by mcfarms View Post
                                    Interesting radio ad for a Dodge dealer I heard yesterday talking about 13500 cash discounts been a while since cash was worth something to the dealer's
                                    Banks shying away from vehicle loans, some getting out of the business all together. Consumer loan risk too high, too costly . . . .

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                                      • sumdumguy
                                        Senior Member
                                        • Mar 2007
                                        • 11991
                                        #180
                                        Originally posted by errolanderson View Post
                                        Banks shying away from vehicle loans, some getting out of the business all together. Consumer loan risk too high, too costly . . . .
                                        More vehicles for me, hmmm, I’ll see.

                                        old established realtor says he hasn’t sold a house in Regina in six months.
                                        Last edited by sumdumguy; Oct 24, 2023, 19:56. Reason: Adding Comment

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