I don’t own any vehicles made by companies who have tariffs, why start now? So yes, still gonna go with saving many many 10’s of thousands on a mortgage than like $80 a year on a phone.
A lot of parts still come from outside of the US, the US hasn't had the manufacturing infrastructure in place to support automotive manufacturing on a large scale in many decades.
There is not a vehicle on the market that is made with 100% parts made in America. And even if there was the machines they use to make said parts “surprise” are from over seas.
So stop your bs. Trying to justify why we are not all screwed
I’m not sure why no one wants a better rate on a mortgage lol. Everyone is too short sighted. Probably not the best to have a long term financial stance on a gambling subreddit.
I’m not sure why no one wants a better rate on a mortgage lol. Everyone is too short sighted
The irony in how contradictory this statement is. It's short sighted to want a rate cut on a mortgage when it comes with inflation skyrocketing. Mortgage rates can be cut in a couple years when the market is fully stabilized and it'll cost you a couple thousand dollars. Inflation on the other hand is permanent and will cost you hundreds of thousands of dollars throughout your life.
For example, your car that you claim is all American isn't. It has parts made outside of the country. It has raw resources from outside the country. There isn't a single car company in the US that gets all of its metal, parts, chips, etc made in the US.
Too bad the cost of materials for new houses is going to skyrocket which in turn is going to increase the price of every home construction. No one is going to be able to afford homes, going to be pushed further into rental economy.
Ah understood, yea thats the trap of credit over a long period. Haven't done the calculations but people would be surprised to realise the kinds of money they are paying on interest if you put the minimum deposit down and do the maximum period.
This isn’t Covid. No unlimited unemployment and federal government checks in the mail. No one is going to be fighting to pay $60k on a rav4.
It’s well known by now Covid inflation was powered by the government giving everyone plenty of money to spend. Inflation while people are broke will just mean things rotting on shelves, or companies cutting profit margins (which is why the market is crashing, no more 30% profit growth every quarter, imagine if companies just….broke even)
The fed has the power to create whatever money they want. They can also purchase equities indefinitely. They can also Purchase government debt. The government then spends the money on whatever. Both activities inject cash into the economy.
They did it for YEARS after the great recession. Thankfully then, baseline inflation was low. Baseline inflation is higher now and tariffs are inflationary.
JPOW talks this afternoon so we may get a hint at what their plan is...
The only net positive would be if the government can refinance the $7-8 trillion at super low rates and then they immediately drop the tariffs. Of course that means the fed will need to purchase huge amounts of government debt....
Perhaps that is their "grand plan". However, I'm not sure that much thought has went into it....
You think that everything (not just iphones) getting more expensive is the only consequence here? Less returns and inflation also... Regardless, you have to pay a closing fee when refinancing , so it wouldn't even be the figure you quoted
Do you honestly think that the savings on your mortgage will out weigh the price inflation of every single one of your expenses? I mean at most you'll be saving a couple hundred bucks a month on your mortgage. But property taxes and insurance will probably go up. Household supplies and food will go up. Not to mention you would most likely have to refinance which comes with costs as well.
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u/superhappykid 1d ago
Nice, enjoy that 1.25% Rate cut when you buy your $1600 iphone.