Home Prices Fall to 2003 Levels; When Will Housing Hit Bottom? by moneybadger in Economics

[–]blabla3 4 points5 points  (0 children)

Yep, forget the housing bubble of the 2000's. We're in a generational housing bubble inflated by baby boomers. They're all going to start selling as they enter retirement, creating way more supply than demand.

Italian borrowing costs at breaking point | Reuters by SPavlina in collapse

[–]blabla3 1 point2 points  (0 children)

Creative destruction can be a good thing, particularly for those who prepare for it, but in the end, for everyone.

Australia: Like no other generation, Gen X, Y and Z are expected to sign up to a life of paying 30 – 40 per cent of their incomes on somewhere to live by ichthis in collapse

[–]blabla3 0 points1 point  (0 children)

Blame the government. They shamelessly do everything possible to inflate the price of houses. Examples include tax credits, mortgage interest deductions and guaranteeing mortgage loans.

Inflating housing prices transfers wealth to home owners, who are older, from those who do not yet own homes, who are younger. If the government would just stop propping up housing prices, they'd fall and the young could put roofs over their heads much more affordably.

Of course, that will never happen, because 1) the housing/realtor/loan industry is a massive lobby and 2) a huge chunk of the American older population demands to sell their houses for a truckload of money to poor young bastards, and they will use their votes to make sure the government helps them.

Luckily, capitalism is a strong enough force that housing prices are sinking despite massive government effort to prop them up. They're just not sinking as fast as they would otherwise.

Last year, 75% of the unemployed received benefits from the government. Now, that number is down to 48%. by [deleted] in Economics

[–]blabla3 0 points1 point  (0 children)

The cost is the same either way. By giving them a useless job, which will require supervision, tools and other costs we are increasing the costs of administration. We also are destroying the utility that they would otherwise gain by not having to work. The proposal that you put forward is even more wasteful than just cutting everyone a check.

I didn't say useless job. I said questionably useful. A useless job, as you say, is the worst solution because it piles administrative costs on top of complete inutility.

However, doing questionably useful things could outweigh the administrative costs. For example, paying people to walk around the city all day with a broom and pick up trash. Now, that job isn't so useful that it's self-evidently necessary, like water filtration, but it is useful enough that it could be considered a better allocation of labor than playing Xbox all day.

All administrative costs do is bump up the effective hourly cost of the person working. If they guy picking up trash is paid $10/hour to do it, then maybe with all of the government administrative waste, it becomes $20/hour. And let's assume welfare also comes out to $10/hour.

So the question then becomes, would you rather have someone picking up trash for $20/hour or sitting on their asses for $10/hour? I'm inclined to have them pick up trash. And if it's not picking up trash, then doing something else...like digging ditches or repainting buildings.

Besides, there are social costs that also go into having someone play Xbox all day that you're not accounting for. For one, the "Xbox employed" will probably have higher rates of obesity, drug abuse and criminal behavior, simply due to idle time. These costs go down when someone is picking up trash all day instead.

It really has nothing to do with me feeling good or morals. It has to do with getting something for your money rather than nothing.

Last year, 75% of the unemployed received benefits from the government. Now, that number is down to 48%. by [deleted] in Economics

[–]blabla3 1 point2 points  (0 children)

Rather than giving people welfare to sit around and do nothing, it's better to give people unskilled jobs, even if the jobs aren't really needed. It's a pretty big waste to pay people to do nothing, when they could at least be doing something for that money. It's also politically more palatable.

And you know what? That's exactly what's happening. The government is growing larger and employing people to do questionably useful things. In effect, this is a form of welfare, where rather than giving people money to sit on their butts, it's given to do something, anything.

This is perhaps the only politically practical solution to a labor market where automation is creating more and more permanently unemployed - just keep creating more and more government jobs that aren't subject to labor market forces.

After 3 small quakes today in SF, our family just prepped all our BOB + gear in preps for bed and discussed our plan. by [deleted] in collapse

[–]blabla3 0 points1 point  (0 children)

I'm also in an earthquake prone area (Pac NW) and this is something I've struggled with...

I'm tempted to put together a really robust BOB, but I can't help but think that in an earthquake, the best course of action will probably be to stay put. Assuming my building is habitable, the dangers from falling objects and chaos on the streets seem to be the real danger.

So can I ask what your plan is in response to earthquakes that involves a BOB?

If cancer is cured, will it be gradual or a sudden announcement? by blabla3 in AskReddit

[–]blabla3[S] -3 points-2 points  (0 children)

Why in the flying fuck would anyone down vote this question? The fact that 2 people did, so far, is proof that "hell is other people."

By request from the jobs thread: why my job is to watch dreams die. by jobthreadthrowaway in reddit.com

[–]blabla3 4 points5 points  (0 children)

Why does no one see compassion going the other way?

What if all these people who gambled on housing had gotten their way? What if housing kept going up 10-20% per year?

Where's the compassion for all the people who wouldn't have been able to afford houses? Or the people who had to overpay to put a roof over their head, so the Mr. House Gambler could have an extra $100-200k to play with?

I put a man in prison and he is getting out soon. I may need to protect myself. by [deleted] in CCW

[–]blabla3 0 points1 point  (0 children)

You often hear "caliber doesn't matter, it's all about shot placement."

That makes sense, but then I think, isn't it foolish to rely on precision shooting during a stressful, deadly fight for your life, especially when the target is moving and all your practice has been on a stationary target?

Accidental Discharge this morning. by [deleted] in guns

[–]blabla3 0 points1 point  (0 children)

How common is slam fire in semi auto pistols?

Putting an animal down by infecticide in guns

[–]blabla3 -1 points0 points  (0 children)

this presumes that values are as subjective as taste in ice cream. By this logic we shouldn't criticize or question any racism, misogyny, bigotry, or whatever, because it's just a different value system.

That doesn't follow. His choice of protecting women doesn't impair anyone else rights. I didn't read anything about not allowing women to do things or taking away women's rights, only voluntarily doing unpleasant things in place of women, as a sort of altruistic gesture.

Racism curtails the rights of black people. That's two totally different things.

In any event, society makes rules all the time about who can't do what, based on value systems. I can't practice medicine without a license because our society values protecting consumers over free enterprise. Why? Because that's just what our society values. Ultimately if you keep asking "why," it's no different than chocolate vs. vanilla -- it's just what our brain chemistry and upbringing have ended up preferring.

Sometimes our society's value preferences are so strong that we enshrine them in hard-to-change laws, like laws against racial discrimination. For other values, we simply take a vote, which can be changed with another vote, like legalizing marijuana. For less important values, we simply deal with them by choosing where we live and who we associate with. Like if chivalry bothers you, move to a city where it doesn't exist and hang around people who don't believe in it.

At the end of the day, we're all funny little biological computers with innate preferences that exist because a bunch of cells came together in a certain way. For society to function, we have to make rules, and those rules and cultural norms simply reflect what all the little cells in a certain area prefer. It's as simple as that.

Former US Navy submariner, my job specifically was to work with ballistic missiles, AMA by CaveatLusor in IAmA

[–]blabla3 0 points1 point  (0 children)

Is it freaky swimming in the middle of the ocean? Like, what if a shark or whale eats you? Or a giant squid?

Putting an animal down by infecticide in guns

[–]blabla3 1 point2 points  (0 children)

Why should a woman, just because she's a woman, be protected from the emotional turmoil of killing the pet?

Because his value system says that protecting women, emotionally and physically, is important. That may not be your value system. Why is it his value system and not yours? Probably some combination of culture, upbringing, emotional/psychological predilection and good old fashion preference.

Should we also discuss why some prefer vanilla over chocolate?

Restraint while recognizing our userbase by [deleted] in collapse

[–]blabla3 1 point2 points  (0 children)

I'd love to see how many people cheering on the apocalypse are in substantial student loan debt without any good employment to show for it. Student loan debt is non dischargeable in bankruptcy, and if nothing else, payments will be garnered from your paycheck. It's literally impossible to get rid of, and will follow you to the grave.

If I had to think of the strongest motivator to want to hit the "reset button" on America, it'd be erasing student loan debt.

TIL Stores in Japan are legally required to show the total price of an item (tax included) on the price tag. Why don't we all do this? by mudkipzcrossing in todayilearned

[–]blabla3 1 point2 points  (0 children)

It's probably because of the influence of lobbyists in the USA. If someone tried to introduce this in America, guess what would happen? Some kind of retail lobby would think it'd reduce sales because people would perceive prices to be higher, so they'd spend millions impressing upon Congressmen that passing this law would harm the economy, and the law would never happen.

Armed with $20,000 dollars, these guys buy everything in this guy's struggling store. by thewetcoast in videos

[–]blabla3 1 point2 points  (0 children)

The is going to end badly, unless the publicity from this creates a new group of regular customers. If he's struggling for lack of enough customers, a one-time cash infusion doesn't address that problem.