7 ms·

Calling it luck makes it sound like there are uncontrollable forces at work. However, these consequences are entirely downstream of artificial, man-made policie

Calling it luck makes it sound like there are uncontrollable forces at work. However, these consequences are entirely downstream of artificial, man-made policies.

bluefirebrand 2y ago
The year you are born is absolutely an uncontrollable force
- deleted 2y ago
  [deleted]
- riku_iki 2y ago
  But subsequent policies are the choice.
  - red-iron-pine 2y ago
    not until you're 18 and can vote. hopefully your parents have sane views towards public policy.
    - riku_iki 2y ago
      in this case those who the most benefited from fed policies are well over 18yo
- Der_Einzige 2y ago
  Buddhists at least believe this to be controllable. It's the ultimate victim blaming religion - you're poor because you were a bad person in a previous life. Very awkward to jokingly say "I wish I were a puppy" when I play with my dog and to see the look of abject horror on my Buddhist partners face. I'm told even wishing for something like that significantly increases my chances of becoming a dog in the next life - which is permanently an undesirable fate.
  - thaumasiotes 2y ago
    > It's the ultimate victim blaming religion - you're poor because you were a bad person in a previous life. You don't think Calvinism is worse? There, you're poor as an indicator that you're destined to go to Hell.
  - Avicebron 2y ago
    Huh, have you asked them if saying "I wish I was an enlightened super-being" carries similar fate-affixing virtues? Because if so it seems like a neat short circuit
    - benterix 2y ago
      Actuallu, Buddhists form that though very often as a part of their practice. The basic idea is that an action follows intention, so making this intention explicit helps.
    - Ctyra 2y ago
      yes, it does. It's essentially like reinforcement, where you keep telling yourself what you want, and learn how to get that. Eventually you work to get that. It all starts with your wish.
  - i80and 2y ago
    Sounds like a great faith for therians to get into, ngl, if just wishing you were a given species increases the odds of getting to be that species
  - benterix 2y ago
    > It's the ultimate victim blaming religion As a free person, I can choose my religion and blame God for a change. The difference is that if you place locus of control further to yourself, that gives you (and not an external entity) enormous power. Yes, you might not be able to change what happened, but you can influence what is going to happen, even if it's not immediately obvious and if some links of the casual chain are hidden.
  - Ctyra 2y ago
deleted 2y ago
[deleted]
asciimov 2y ago
And for most of us, we had no say in those policies. Particularly when they were the consequence of previous generation.
Workaccount2 2y ago
A fixed 30 yr mortgage is insane. Insanely good if you have a home and a low rate (or refi into one) Insanely bad if you don't have a home. It's not a natural construct, it's an artificial loan that only exists because the fed is the counter party. In an natural economy, mortgages would all be variable rate, or fixed rate but much higher than what is available today. This would also mean that the housing rush of 2021 would have been crushed by rate increases in 2022/23. In fact there probably wouldn't have been much of a rush at all.
- Ekaros 2y ago
  Fixed rate is reasonable product. But there should be cost involved in paying it back in higher interest rate environment. So if you payback early you would need to pay the delta between current fixed rate and one you have.
  - Workaccount2 2y ago
    It's a reasonable product when it is priced correctly. It's not priced correctly when the one taking on the risk is also the one who can pull money out of thin air.
- JumpCrisscross 2y ago
  > it's an artificial loan that only exists because the fed is the counter party The Fed doesn't originate mortgages. (And it's increasingly getting out of even holding them.)
  - Workaccount2 2y ago
    No, it buys them from the banks and the banks know this going into the loans.
    - JumpCrisscross 2y ago
      > it buys them from the banks and the banks know this going into the loans This isn't how the mortgage market works. Qualifying mortgages are guaranteed by Fannie and Freddie. The Fed's participation in the mortgage market has been for liquidity, not credit, purposes. Kill Fannie & Freddie and the 30-year mortgage goes away. Ban the Fed from buying mortgage securities and rates go up a bit.
etrautmann 2y ago
Where I live in NYC, a relatively modest 3BR apt. is currently 2.5-3.5 million. Having invested for 15 years to eventually own a place, the recent combo of interest rates and home price increases feels like the ultimate rug pull. It seems inevitable that this will lead to a decline in birth rates and a host of other second order effects.

Calling it luck makes it sound like there are uncontrollable forces at work. However, these consequences are entirely downstream of artificial, man-made policies.

bluefirebrand 2y ago

The year you are born is absolutely an uncontrollable force

deleted 2y ago
[deleted]
riku_iki 2y ago
But subsequent policies are the choice.
- red-iron-pine 2y ago
  not until you're 18 and can vote. hopefully your parents have sane views towards public policy.
  - riku_iki 2y ago
    in this case those who the most benefited from fed policies are well over 18yo
Der_Einzige 2y ago
Buddhists at least believe this to be controllable. It's the ultimate victim blaming religion - you're poor because you were a bad person in a previous life. Very awkward to jokingly say "I wish I were a puppy" when I play with my dog and to see the look of abject horror on my Buddhist partners face. I'm told even wishing for something like that significantly increases my chances of becoming a dog in the next life - which is permanently an undesirable fate.
- thaumasiotes 2y ago
  > It's the ultimate victim blaming religion - you're poor because you were a bad person in a previous life. You don't think Calvinism is worse? There, you're poor as an indicator that you're destined to go to Hell.
- Avicebron 2y ago
  Huh, have you asked them if saying "I wish I was an enlightened super-being" carries similar fate-affixing virtues? Because if so it seems like a neat short circuit
  - benterix 2y ago
    Actuallu, Buddhists form that though very often as a part of their practice. The basic idea is that an action follows intention, so making this intention explicit helps.
  - Ctyra 2y ago
    yes, it does. It's essentially like reinforcement, where you keep telling yourself what you want, and learn how to get that. Eventually you work to get that. It all starts with your wish.
- i80and 2y ago
  Sounds like a great faith for therians to get into, ngl, if just wishing you were a given species increases the odds of getting to be that species
- benterix 2y ago
  > It's the ultimate victim blaming religion As a free person, I can choose my religion and blame God for a change. The difference is that if you place locus of control further to yourself, that gives you (and not an external entity) enormous power. Yes, you might not be able to change what happened, but you can influence what is going to happen, even if it's not immediately obvious and if some links of the casual chain are hidden.
- Ctyra 2y ago

deleted 2y ago

[deleted]

asciimov 2y ago

And for most of us, we had no say in those policies. Particularly when they were the consequence of previous generation.

Workaccount2 2y ago

A fixed 30 yr mortgage is insane. Insanely good if you have a home and a low rate (or refi into one) Insanely bad if you don't have a home. It's not a natural construct, it's an artificial loan that only exists because the fed is the counter party. In an natural economy, mortgages would all be variable rate, or fixed rate but much higher than what is available today. This would also mean that the housing rush of 2021 would have been crushed by rate increases in 2022/23. In fact there probably wouldn't have been much of a rush at all.

Ekaros 2y ago
Fixed rate is reasonable product. But there should be cost involved in paying it back in higher interest rate environment. So if you payback early you would need to pay the delta between current fixed rate and one you have.
- Workaccount2 2y ago
  It's a reasonable product when it is priced correctly. It's not priced correctly when the one taking on the risk is also the one who can pull money out of thin air.
JumpCrisscross 2y ago
> it's an artificial loan that only exists because the fed is the counter party The Fed doesn't originate mortgages. (And it's increasingly getting out of even holding them.)
- Workaccount2 2y ago
  No, it buys them from the banks and the banks know this going into the loans.
  - JumpCrisscross 2y ago
    > it buys them from the banks and the banks know this going into the loans This isn't how the mortgage market works. Qualifying mortgages are guaranteed by Fannie and Freddie. The Fed's participation in the mortgage market has been for liquidity, not credit, purposes. Kill Fannie & Freddie and the 30-year mortgage goes away. Ban the Fed from buying mortgage securities and rates go up a bit.

etrautmann 2y ago

Where I live in NYC, a relatively modest 3BR apt. is currently 2.5-3.5 million. Having invested for 15 years to eventually own a place, the recent combo of interest rates and home price increases feels like the ultimate rug pull. It seems inevitable that this will lead to a decline in birth rates and a host of other second order effects.