PPP (Payroll Protection Plan) was the biggest scam / fleecing of taxpayers in history. Literally taking from the poor and giving to the rich.
Research companies that got bailouts here:
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Top 25 Business School Grad
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Former 6, 63, 7 Securities licensed
Pickin yo wallet wit inflationJoined March 2021
Russian Palace Princess ๐บ๐ฆ๐บ๐ฒ#STANDWITHUKRAINEโs Tweets
2008: Well the good news is people learned their lesson and it won't happen again.
2014-2022:
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Price increases in the past year:
gas: +49%
airline tickets: +38%
eggs: +32%
hotels: +22%
suits: +22%
lunchmeat: +17%
tires: +16%
milk: +16%
butter: +16%
bread: +15%
coffee: +15%
furniture: +13%
baby food: +13%
cars: +13%
pickles: +12%
peanut butter: +12%
rice: +12%
shirts: +11%
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Seen Today : 863Million of PPP went to 597K Federal prisoners - Every Democrat voted down the amendment to prevent this.
This is just the tip of the Ice Burg of the Swamp corruption. If youโre not pissed, youโre probably in on it or just an idiot!
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Denton County Housing Bubble Begins To Pop -
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Fed members insist they'll bring #inflation back down to 2%. In reality, most FOMC members will not live long enough to see a year when the #CPI only rises by 2%. Those days are long gone. We are reaping the whirlwind of the inflationary winds the #Fed sowed when it launched QE1.
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LOL we're at that stage of the propaganda
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Foreign investors represent one large bucket of MBS buyers who could step up to absorb additional MBS as the Fed sheds its holdings.
housingwire.com/articles/asian
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Imagine loving your host country so much you sign up to potentially die defending it. What a hero
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This is Brahim Saadun, a former student of Kyiv Polytechnic and a citizen of Morocco. He is 21 years old, he has been living in Ukraine since 2019, and since 2021 he has been serving in the Armed Forces of Ukraine under a contract, not wanting to leave Ukraine. twitter.com/tpyxanews/statโฆ
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As noted in his write up, June is the first month Iโve noted list price per square foot drop on several homes for sale in Collin County also. They havenโt sold yet so data doesnโt show price declines (yet)
#housingmarket #dallas #Texas
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Myths about the Fed die hard. Nothing reasonable Fed can do about supply side driven inflation. However, Fed should use this opportunity to raise rates above the Keynes/Bagehot 2% minimum and promise to never violate this minimum again.
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Only 50-50 odds of 75bps? I think weโll prob get a 75bps hike this month, if not then certainly at the next meeting. The Fed needs to respond to the latest CPI print and send a message that they mean business. Another 50bps business-as-usual hike would send the wrong message.
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Home prices: historic all time high
Mortgage rates: well below historic average
Media: People can't afford because rates went up.
????
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Notice they don't show 2008 for comparison, I wonder why?
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I love how they spin this to blame below historic average interest rates and not the highest home prices in history. What a joke.
(1/5) Amid a slumping stock market and rising mortgage rates, sales of luxury homes fell 18% YoY from February to April, the largest drop since the onset of the pandemic.
There are only two instances in the past decade when there were steeper declines. #realestate
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This is what life looks like for 40 million Americans in CA. Hard to comprehend the average at 6.42/gallon with several counties 7+
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Buyers have paid above the list price on average for seventeen months in a row in the Sacramento region. The hope in months ahead is to see this number get closer to normal (about 2% below the asking price). Paying above the list price like this is not normal.
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Replying to
Eventually enough people starve and go homeless all in the name of inflating the assets held by the rich. No wonder they want to take guns away.
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๐คก Putin think heโs a Tsar and hinted that heโs not going to stop at Ukraine
Putin said that Tsar Peter I didnโt conquer new territories, but "returned" those previously Russia lost. Then he turned to today's events:"It seems now it's our turn to return and strengthen[smiling]."
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Trump and then Biden could have EASILY pointed to 40 years of failed policy, blamed the last guy and righted the ship. They both chose to keep the ponzi scheme going.
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Groceries +11.9% y/y -->Biggest inc. since 1979
Chicken +17.4% ->Largest ever
Restaurants +9% -> Largest ever
Fuel oil +107% ->Largest ever
Electricity +12% ->Largest since '06
Rent +5.2% ->Largest since 1987
Airfare +37.8% ->Largest since 1980
Services +5.7% ->Largest since 1990
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I, a 5ft 5inch, anti-western, backward looking, regressive, have compared myself to Peter the Great,a 6ft 8inch, forward looking, westward-thinking progressive.
Tell me more about this off ramp...
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University of Michigan Consumer Sentiment is now substantially lower than it was during the Great Financial Crisis
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Don't expect the housing market to be spared. Prices just take somewhat longer to adjust.
Mortgage applications are already falling sharply as mortgage rates are surging at a record pace.
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after hitting almost $500k average conventional purchase mortgage loan sizes are moderating
though even if loan size is down about 8% from peak, it's still up more than 25% from where it was at beginning of 2020
read image description
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The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006.
It hasn't shown up in many data series yet, but mortgage applications are pointing to a large decline over summer.
Purchase apps down 40% from seasonally adjusted peak
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โItโs hard to understand why Western military help is given in doses, just enough to survive but not enough to win. It worries me. Our people are dying every day here.โ?
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Serious question: Why would smart guys here on ReTwit buy CRE today when itโs all-but-certain to be cheaper in nine months?
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Wild.
Policy failure.
All mandates failed.
... Because @Isabel_Schnabel @Lagarde wanted to help their friends like $lvmh @LVMH Arnaud
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The #Fed caused high #inflation, not supply shortages beyond its control. The proper monetary policy response to the reduced supply caused by the pandemic would've been to reduce demand by reducing the money supply. Instead the Fed increased demand by increasing the money supply.
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Barclays calling for 75bps FOMC next week. Fed should go 100 next week to reestablish credibility. Stocks and bonds would both go down for 10 minutes and then rally for weeks. CBs need to move the Overton window on what's acceptable here. Fed: You go first.
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Oldie but Goldie, Happy Friday
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Yellen should be fired. Sheโs a Keynesian academic incompetent who doesnโt accept that inflation is a monetary phenomenon, which fact we learned in the 1970s. Those who knew what inflation was predicted surging consumer prices and an economic slowdown well over a year ago.
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Despite all the bad news about the economy, 78% of Americans indicated their personal finances are "OK."
Granted, the survey was from 2021.
Ethereum is once again extremely busy storing value. ๐
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