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The First Shoe - 6/10/22


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8 hours ago, Jimi said:

10 year movin’ on up. 
I have been watching California desert property out & around Joshua Tree for well over a decade. I believe there is a flood of property presently hitting the market there. About three months ago, many ads for places celebrated their histories as successful VRBOs… begging the question why sellers were selling. I have little doubt those VRBO empires were built on the largesse of adjustable rate mortgages, and the cash-flow no longer pencils out the way it did for many years. Now, the continued supply seems to be of junk properties from hopesters - perhaps also with ARMs - looking to cash out at the top of what has been a preposterous boom out there. They are too late to the party, obviously. My hope is some old timers with all the attributes I seek brings their properties to market at then-prevailing price, so I can finally have a place there. But as the 10-year climbs, pain and fear is going to become really dreadful for many.  
 

Looks like an amazing place to have a cabin .. maximum nature, minimal clutter 👍

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PRINTING AS THE FINE ART OF THEFT

The FED printed trillions in 2020 and 2021.

Did the value of all those printed dollars appear from thin air?????

No it did not.

It was stolen from the bond holders.

They didnt realise this in 2020.

They started to realize this in 2021.

But only in 2022 do they fully realise this.

If inflation is a tax on money.

Then printing is a tax on bonds.

Realised in the form of "Capital loss plus inflation"

Im surprised bond funds still exist.

Im surprised anyone other than the FED owns any bonds.

 

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26 minutes ago, sandy beach said:

Crypto going to hell this morning.

I’m in Croatia with the wife & kids. At dinner last night, the Slovenian leading our tour says he’d “saved” a lot in crypto which looked great a year ago, but now he’s getting killed.

I silently studied the grilled squid. 

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1 hour ago, Jimi said:

I’m in Croatia with the wife & kids. At dinner last night, the Slovenian leading our tour says he’d “saved” a lot in crypto which looked great a year ago, but now he’s getting killed.

I silently studied the grilled squid. 

Why are you on a tour! You shoulda called me! 

Where are you? 

Where you been and where you goin? 

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3 hours ago, DrStool said:

Why are you on a tour! You shoulda called me! 

Where are you? 

Where you been and where you goin? 

Odd circumstance: we had dinner in March with friends, who asked what our summer plans were. We said we were planning to cycle in Holland, and they said they had organized a trip to cycle Croatia and we should join… and we said, “Sure, okay?”
Cycling tour between Split & Dubrovnik through the islands: I cycled 23 miles on Hvar today: busted my tail… I don’t cycle at home. 
Afterwards, we have a couple nights in Mlini where I’ve arranged a dune buggy tour to a famous cave in Bosnia, a jetski thing to do some snorkling, and then a couple nights again in Split… when I want to go to Solin to see the Roman ruins. 
Croatia is gobsmacking beautiful. Wow. I never knew. Stunning. 

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Yep. I was there for 18 months and barely scratched the surface. If you're in Split, please get over to Trogir and a little farther north, Primosten. Cycling there must be brutal though. Those mountain roads are tough. Take care! 

The road from Split to Dubrovnik is sick. But so is the road from Zadar to Rijeka. 

Even with how wonderful Nice is, I find myself being a bit nostalgic for Zadar. I just fell in love with that place. Zagreb too. I could live in either place and be very happy, but being by the sea, at those prices. You just can't beat it. 

On Hvar, get over to Starigrad. Enchanting. 

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