this post was submitted on 18 Mar 2024
146 points (97.4% liked)

World News

48418 readers
1863 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
all 12 comments
sorted by: hot top controversial new old
[–] Deceptichum@sh.itjust.works 40 points 1 year ago* (last edited 1 year ago) (1 children)

9 year old delinquents, they should be in school not committing financial crimes!

[–] FenrirIII@lemmy.world 3 points 1 year ago

Actually, they should be home sleeping so they can get to work in the slaughterhouses for their 2AM shift. Someone has to help their parents pay off their massive credit card debt!

[–] aniki@lemm.ee 24 points 1 year ago (1 children)

Surprised it's not higher. How are people living in constant debt while still managing paying bills?

[–] No_Eponym@lemmy.ca 3 points 1 year ago

IMO, there have been some pretty robust (comparatively) wage gains in America since 2020, relatively few layoffs until recently, a lot of savings from a bunch of places (deferred travel, a break from commuting and childcare costs), some other benefits (mortgage deferrals, locking in low mortgage rates, initially paying down debt, inheritances from dead relatives), and some really strong equities performance. Added together there are a lot of folks with sufficient resources to handle high interest rates so far when otherwise they wouldn't have.

Of course, this is also why consumer spending and inflation have also been so resilient in the face of higher interest rates.

[–] TheBat@lemmy.world 15 points 1 year ago (2 children)

When is The Big Short Part 2: Financial Boogaloo?

[–] kbotc@lemmy.world 14 points 1 year ago (1 children)

It’ll happen when the banks write off their downtown commercial real estate. Someone’s holding those ten trillion dollar sinkholes and we still don’t have anything to make those massive skyscrapers valuable again. At least everyone sees it coming this time even if we can’t do anything about it.

[–] Archelon@lemmy.world 2 points 1 year ago (1 children)

Cries in Canadian housing crisis

[–] No_Eponym@lemmy.ca 1 points 1 year ago

The Canadian government just poured $40b into buying its own mortgage backed securities. Compre this to $150B in March 2020, and $68B from 2006-2009.

Sure looks like a liquidity crisis to me. Buckle up, buckaroo.

[–] Rivalarrival 6 points 1 year ago (1 children)

It's supposed to be in theaters at the same times as Beheading 2: The Guillotines Come to America.

[–] SlopppyEngineer@lemmy.world 5 points 1 year ago* (last edited 1 year ago) (1 children)

Isn't the article about South Korea?

[–] Deceptichum@sh.itjust.works 0 points 1 year ago

Isn't The Big Short about America?