Hawaiian
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Everything posted by Hawaiian
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I didn't arrive at this conclusion; the CBO did. My take is the rule of supply and demand applies. Quite sure you know how that works. Or perhaps maybe you don't. And the costs continue to rise. NYC mayor asks NY governor for more bucks as his budget faces more shortfalls. She, in turn, is asking the feds for more money. Denver is cutting public services in order to fund illegal migrant programs. What's a million here and a million there?
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Two days after this post, the CBO in a 10 year budget estimate said the influx of illegal immigrants will force down wages in the U.S. Not good news for LEGAL American wage earners. Off course, according to you this will be offset by increased contributions by these illegals to Social Security and Medicare by these illegals. By the way, many illegals work under the table and pay no payroll taxes. And if wages go down, then payroll taxes go down. So, tell me how all this benefits this REAL hardworking Americans?
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This is an update from Bloomberg about the U.S. commercial property market. Moody's has downgraded NYCB to junk status. Now Germany's Deutsche Pflandtriefbank and Japan's Azora Bank are being hit. Janet Yellen says the problem is manageable. Remember when she said the latest round of inflation was transitory. Hopefully, this does not spread to other sectors.
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The DJA is not the stock market. The cracks are slowly appearing. Not all sectors are doing well. The one day decline in NYCB of 40% is just one example of troubling times on the horizon. The Chinese markets have seen nearly a $3 trillion devaluation in the past two years. Much of the money is coming back home to be parked in U.S. securities and some in U.S. markets.