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Maybe you watch it. My god, the ignorance…
The video is about the stock market in general.
Did you know that Google shows you historical stocks and shares data when doing a related search?
If googling is too hard for you, then you can watch a video here https://youtu.be/3PxqwZcTpc0 It references each and every source.
In the last century 63 years had 10% crashes. This image shows that literally nothing is happening.
Not sure what you’re talking about…
Yeah, I don’t want to live in a stone age.
Yeah, that’s the difference. But in general British mortgages are much cheaper. That also leads to a situation, that people invest free money instead of over paying their mortgages. I’m still on 1.32% for example, while even my basic savings account pays me 4.5%.
It was that bad for a short while, but plenty of people had to re-mortgage during that short while and they got burned real hard. But due to borrowing limitations no one became homeless. That’s the point of them. I know it doesn’t feel fair, but I saw myself all that happening and I’m happy that banks don’t trust people anymore - it’s better that way for everyone involved.
I don’t know what the situation is in your country, but here’s an example from the UK.
Imagine you bought a £500k house in London just after the pandemic. The mortgage rates were around 1.2-1.3%. You could afford monthly payments at the time, everything looked cool. Now a couple years later the war in Ukraine starts, economy tanks and interest rates go over 7%. Now your monthly payments become 3-4x higher and you’re fucked. You lose your house, become homeless and you still owe half a mil. The end.
Do you have a house though? Or are you still on a mortgage and now you’re in negative equity, get booted out and still have to pay the debt while being homeless?
Taxes don’t come out of thin air. What you’re proposing is effectively: spend $300k on a house, lose $300k, then lose another $300k from your taxes.
That’s why you shouldn’t over simplify dumb ideas.
There’s always a need for profit, otherwise you end up with Chinese ghost cities with millions of empty and rotting homes. They will also become a huge environmental catastrophe there quite soon.
Banks used to trust people and that has led to GFC. So most governments now have legal frameworks to ensure that banks don’t trust you anymore. I don’t think you want another GFC.
Because then Trump gets elected, state housing gets neglected and people start dying.
Nowhere but in the US people rely on cars. Cars are just too fucking expensive for the majority of human population.
The world doesn’t end with US, surprise!
The majority of the population doesn’t even know ohm’s law, what wave functions are you even talking about? Remove a bunch of engineers and the whole world will be back in stone age in no time.