Market Insider
The bond-market sell-off that’s sending yields soaring is starting to eclipse some of the most extreme market meltdowns of past eras.
Bloomberg reported losses on Treasury bond with maturities of 10 years or more had notched 46% since March 2020, while the 30-year bond had plunged 53%. More
The value of existing bonds (that pay a lower interest rate) collapsed in the face of coming interest rate hikes. – Dr. Tar
Never underestimate the prowess of Shitpants
But the “Big Guy” will skim his 10% off the top before the losses kick in.
But keep sending money to Ukraine. We cant let Russia control another square millimeter of territory on the East side of the Dnipro River*, which if you didnt know, is overwhelmingly pro Russia
*(You know, that river whose Ukrainian name was unknown to 99.999% of Americans before February 24, 2022)
I hope everyone here has taken steps to get out of debt while they still can.
Out of debt, all taxes increased, inflation, everything costs 30 to 40 % more and the Dollar purchases less and less as the weeks go by.
They (Government) may throw us back in debt to buy essentials, above the $250,000 each citizen owes of the $33 Trillion National Debt.
aircubed Friday, 6 October 2023, 13:09 at 1:09 pm
I hope everyone here has taken steps to get out of debt while they still can.
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I’ve been a fan for the past 40 years of investors warning to stay out of debt. Got caught in my 20’s with credit card debt. Dug out of it and never got back into it. Had a mortgage and paid it off in 20 years. It’s a great feeling to be debt free. Dave Ramsey is a good investor to listen to about debt. He has people on a plan and it’s cool to listen to people call and say that they’re debt free, and how they did it.
^^^^^What Goldenfoxx said….
Dave Ramsey is the best….
only one (1) item that I disagree with….
I use credit cards….but pay in full on due date….
to reap the reward money/points.
This is a “slaughter” only if you ignore basic economic principles such as “if interest rates rise, bond prices fall.” I wasn’t surprised when interest rates rose from their prior historic lows; I was more surprised it took so long for rates to rise.
Then again, I remember when ordinary mortgage were around 15% and later fell to an astounding 7% – people were lined up around the block to refinance their homes. For the past few years, however, folks apparently considered rates of 2% to 4% to be their God-given right.
@Ed357 Friday, 6 October 2023, 15:22 at 3:22 pm
I use a credit card still, I never run a balance on them. I use it for the cash rewards back from Costco. Only use other people’s money when you can pay the balance off right away. Cell phone companies are becoming wise and asking for a debit card instead of a CC due to people being overdrawn on their card and the phone company can’t charge the card. T-Mobile tried to pull that crap with me. That wasn’t the deal when I signed DH up. I told them I’ll drop them and go back to Tracphone. LOL…they’re still charging my CC. No one is getting my debit card #. 🙂
Credit card use is also great for keeping receipts of your expenses, itemization. I know where the money went and have records of it.
When I spend cash, things get a little iffy on keeping records. Yet, some things need cash, like the people I hire for personal things – Hair cuts, lawn mowed, and other things of that nature. Buying a used vehicle from someone is also a cash deal for me.
Being out of debt is the best thing. When my bank saw my home was paid for and I wasn’t carrying any debt on the credit cards, they wanted to re-finance my house for me so I could have a bunch of cash to do whatever with.
I held my fingers up to make a cross. No thank you! I just got here, I don’t want to spend the rest of my life at risk for losing my home if something goes awry with my earning ability.
@ goldenfoxx
I run one cc for my house expenses (electric, natural gas, water, etc….and nothing else….no chance of compromising card)….and another for auto, grocery, entertaining, etc….and collect my rewards/cash back….works good for me.
Using the float….every 1% helps.
No Bonds
just good quality stocks
& house 100% paid off.
I designed the Bond Market.