For the third day in a row:
@RealWarrenBuffett@lemm.ee
What is your connection to creditnews.com?Good call-out, their post history is literally this one site.
Did they say this while laughing malevolently and rubbing their hands, and adding “just as planned”?
Nobody should be listening to Jamie Dimon, unless you want to be broke.
According to JPMorgan strategists, the inflation-adjusted value of liquid assets (a fancy way of saying cash, stocks, or anything that can be easily converted to cash) is expected to decline compared to March 2020 for all but the top 1% of income earners.
I don’t know that this is a full picture of purchasing power, they’re leaving out income, which has been going up faster than inflation for a year and a half now.
And less importantly they’re leaving out house values which are up like 50% in that time. Sure it isn’t liquid but 2/3rds of US households are homeowners who have massively increased the biggest part of their net worth, that’s a pretty big part of the picture to leave out.
thing about non liquid assets is they tend to be paper value. A house is unlikely to lose all its value like a stock but can still lose value. Income it comes down to if they are saving any of it at the end of the month or eating into savings each month (or worse taking on depth for month2month)
There’s that and the fact that most people who sell a house will still need new housing afterward. The value can be kind of moot unless you’re in a position to majorly downsize or relocate to a lower cost-of-living area.
If you plan on actually living in your house, and not pulling out any equity, property value rising had a negative effect on you in that your taxes rise.
For most people adding a couple hundred to a few thousand dollar bill on them - for effectively no reason - is a big deal. Some consider it a hostile action, and I’m in no position to argue them.
good point. especially since it seems very few people pay off a mortgage nowadays. Its just sorta a reshuffling of monthly costs.
they’re leaving out income, which has been going up faster than inflation for a year and a half now.
After languishing for a couple of decades before that.
Will be? Like it hasn’t already happened?
Nobody should be listening to Jamie Dimon, unless you want to be broke.
deleted by creator
JP Morgan and Jamie Dimon are always right until they’re proven wrong. They do send me payments on time, though.
