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Business, Economics, and Taxes: Capitalism. Yay? >=(

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aparch said:
Wait, what?

I thought I heard they had 60 year and 75 year mortgages to lower the monthly payment, but didn't know about the renew part.

Uffda, that's gonna hurt.
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I’m hoping someone here knows. I heard a Canadian mention it today and then light googling doesn’t confirm or deny. It can’t be everyone- but it seems like it’s common enough.
 
Deutsche Gopher Fan said:
TIL that many Canadian mortgages are only good for 5 years and then renew

holy crap that’s gonna kill a lot of already strapped people if it’s widespread
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The 30-year fixed mortgage is pretty much unique to the US. I think 10 and 15 are still options elsewhere, but my understanding is ARMs are the standard most other places.

But I also think mortgages elsewhere are easier to 1) keep if you move or 2) let new owners assume when you sell.
 
aparch said:
Wait, what?

I thought I heard they had 60 year and 75 year mortgages to lower the monthly payment, but didn't know about the renew part.

Uffda, that's gonna hurt.
Click to expand...

I thought it was Britain starting to offer the 60 year mortgage.

It looks like in Canada the standard is 25 and they offer a 30 but you have to put 20% down to qualify for that.
 
RaceBoarder said:
I need the Econ 101 explanation here:

So because everyone is working, there is too much cash being put into the economy currently (people needing to spend all their paycheck instead of saving), causing inflation? So the fix is to restrict the inflow of cash (via fewer jobs paying out)?
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There is a known relationship between unemployment rates and inflation rates, known as the Phillips Curve. The relationship used to be much more pronounced, but economists who actively study this relationship have found that there has been a substantial rightward shift in the curve, and the relationship overall isn’t as strong these days, though it still exists.

In short, people try to disprove the Phillips Curve is still valid theory, but they just can’t. The math has changed, but not the relationship itself.
 
akerry said:
I believe that capitalism, while flawed, is an efficient economic system that fosters innovation and competition. However, it is crucial to ensure that businesses operate ethically and pay their fair share of taxes. In today's digital age, cryptocurrencies have emerged as an alternative form of currency. With the growing popularity of crypto transactions, it is imperative for governments to regulate this sector appropriately.
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I too enjoy burning an acre of rainforest every time I want to buy a cup of coffee.
 
unofan said:
The 30-year fixed mortgage is pretty much unique to the US. I think 10 and 15 are still options elsewhere, but my understanding is ARMs are the standard most other places.

But I also think mortgages elsewhere are easier to 1) keep if you move or 2) let new owners assume when you sell.
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I think you're right. The ARMs being the standard is just insane.
 
LynahFan said:
Yes, and it's best if they work right away, so they have a couple years to build up a nest egg before their first kid.
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Come on, not all of them will have kids in their teens.

some of them don’t come from big families and therefore have no cousins
 
The world's greatest businessman wants to know why Wikipedia always needs money since it's just a bunch of text and it's easy to store that.
 
I fully support "Mario Kart Economics." The closer to the front you are, the less power ups you get.

Also, blue shell the 1%.
 
DOJ issuing subpoenas to Tesla in probe of potentially exaggerated claims into the range of their cars

tesla says this may have material adverse impacts on the business
 
Tesla is having all sorts of issues...apparently Elmo had a bit of a meltdown on the 3rd quarter investors call. It was described by one investor as "Trump like". He sounded almost in tears and part of it do to the Tesla Truck boondoggle.
 
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