Bottom line.
- Thread starter Toots_mcgee
- Start date
Bank of America BAC Chairman & CEO Brian Moynihan claims that many Americans have not yet spent all their stimulus money.
In a May 23 interview with CNBC’s “Squawk Box,” Moynihan said his bank’s customers actually have more money now compared with a year ago, despite increased inflation — Moynihan said bank account balances are higher despite increased spending as well.
In a May 23 interview with CNBC’s “Squawk Box,” Moynihan said his bank’s customers actually have more money now compared with a year ago, despite increased inflation — Moynihan said bank account balances are higher despite increased spending as well.
Guess it's time to get rid of some of those corps that are sucking us dry.
Nationalize the oil and watch what happens (Hint: Venezuela went broke because most of the world embargoed them).
I have more money in my savings account than I had a year ago and didn't get any kind of loan from the government or anywhere else. I saw a poll yesterday that said a majority of people say they think economy is not good even though their own financial situation is better now than year ago.
I said the poll says MOST people feel like the economy is bad BUT they're OWN situation is not, not just my bank account. So with unemployment down to what is considered FULL employment and their doing fine why do they think it's bad?
Now tell me why people who own rental property are raising their rent by 50% for people that have been living in their place for 20 years in some cases. I understand they can get more but they should get that from someone that comes to them to rent their place as a new customer. What reasonable reason do they have to jack top the people that paid them for years? What costs for the landlords have gone top by anywhere near 50%? If you're building new rental properties then you have cost increases to pass along but that is NOT the case when it's property you have had for years! THAT is why inflation is going sky high, because people with money have decided they can do whatever they want right now. Same with the oil companies that cut production and the price went crazy. We do NOT have an oil shortage in this country or the world, we have greedy people cutting production.
Now tell me why people who own rental property are raising their rent by 50% for people that have been living in their place for 20 years in some cases. I understand they can get more but they should get that from someone that comes to them to rent their place as a new customer. What reasonable reason do they have to jack top the people that paid them for years? What costs for the landlords have gone top by anywhere near 50%? If you're building new rental properties then you have cost increases to pass along but that is NOT the case when it's property you have had for years! THAT is why inflation is going sky high, because people with money have decided they can do whatever they want right now. Same with the oil companies that cut production and the price went crazy. We do NOT have an oil shortage in this country or the world, we have greedy people cutting production.
two years ago when the price of oil went negative oil companies worldwide shut down facilities and stopped pumping. (why would you provide a product that you had to pay people to take??) Right now its almost impossible to get Frack Sand and experienced oil field workers are in short supply. As companies stop spending money on oil infrastructure its going to get worse.
But Never Fear, wind turbines and solar panels are going to save us all!!!!
The people in that poll didn't think they were going broke just yet. I don't like high gas prices any better the next guy but we do NOT have an oil shortage or a gas shortage so there is NO reason for this.
As for the oil production there is a guy on this very forum that owns a couple of oil wells. He doesn't have control over how much they pump but he gets paid for the product they sell. HE said they were making a huge profit per barrel on what they pumped but they had cut production a lot!
Landlords are raising rents because Fuel cost them more, Food cost them more, basic living expenses cost more. Old property can be very expensive to upkeep....All contractors have raised rates from Plumbers to Exterminators so if you have rental property you must have certain cash assets on hand to pay them. Plus when basic expenses go up you have more defaults in rent payments. This reduces incoming cash and this results in more cost to start the eviction process and complete it.
All these cost are going to get passed on to the consumer. That is how the system works.
What you don't understand is that People are not going to adjust their lifestyles and live on Less if they can recoup that money. Then you factor in supply and demand if the Demand is high and the Supply low you raise prices to make more money.
You seem to think that Landlords and Business owners should cut the consumer a break and take less profit or not make more profit if the opportunity arises to do so because of supply and demand. That is not how it works and that is a Great thing.
Trying to make good business people out as greedy just shows you don't grasp how the system works and why it works.
Of course they cut production....Biden and his Cronies are going all green and not being Big Oil friendly. So they are not investing and outlaying $$$$ to pump and produce more oil to lower the cost and lower their Profit margin so you and I can have cheaper gas.
IF Biden and his minions would get on board with Big Oil and make good then they would amp up production and investments in oil exploration and gas would naturally come down and the profit margins would be agreeable to big oil.
Biden and his cohorts instead declared open warfare on Big Oil and this is the result.
Landlords are raising rent because demand is high. It’s basic economics. The price of milk is not raising your rent. Bahahahahaha
But the price of insurance, the price of repairs and basic upkeep forces landlords to raise rent. Not to mention making up for all the money lost when some were refusing to pay rent or get out.....
Yep thanks trump.
Trump gives CDC broad authority to stop evictions during pandemic
The order comes as House Democrats have been at loggerheads with the White House over the next coronavirus relief package.
www.nbcnews.com
By 50%? And for someone that has rented from you for 20 years? Glad to know you folks approve of that.
Really when a landlord....with rental property has more expenses going out the door they often raise the rent to cover that.
I use to have 3 rental properties and I had a set profit margin and when the base cost of my daily living expenses went up, I'd raise the rent to cover, heck I raised the rent to cover a new truck payment.
And yes demand is high as well I stated that was a factor.
I do approve...it's caused business, it's about money not about the number of years they rented it's not family and even if it was family should pay as well if that is the deal. You must never have been a landlord or dealt with renters. You seem to think people are in business to help out their fellow man and make sure they have a safe comfy life. Sorry to burst your bubble the name of the game is to make as Much Money for yourself and yours and to squeeze as much money out of your customer as the market well tolerate.
You seem to live in some fantasy world....where people are willing to work and take risks and incur expenses without compensation so others can pay a minimal amount of rent to make their lives easier and more kush.
