gregorynyssa: http://logs.nosuchlabs.com/log/asciilifeform/2022-09-14#1113805 << that is a great observation.
dulapbot: Logged on 2022-09-14 15:03:26 asciilifeform: if typical borrower could be expected to live 100y, would expect to see 60y loans in usa
gregorynyssa: http://logs.nosuchlabs.com/log/asciilifeform/2022-09-14#1113804 << as I said earlier, I find finance hard to understand except in this channel.
dulapbot: Logged on 2022-09-14 15:01:56 asciilifeform: ... for that matter, how is the 30y loan a product of anyffin other than usurers' desire to enable typical plebe house to be 'worth' 1e6$+ ? (picture if loan ~had~ to be e.g. 5y.)
gregorynyssa: the real-estate market is artificial. =
gregorynyssa: =\
asciilifeform: wb gregorynyssa
gregorynyssa: thanks
mats: assigning blame to the wrong party here -- it is the government propping up this scheme, not bankers
mats: sort of like "The big and easy government attacks on money target a single central money issuer, as with the first of the modern political attacks, the French Assignat of 1792, but in the late nineteenth century political attacks on financial networks began, as for example the Federal reserve act of 1913, the goal always being to wind up the network into a single too big to fail entity, and they have been getting progressively bigger,
mats: more serious, and more disastrous, as with the most recent one. Each attack is hugely successful, and after the cataclysm that the attack causes the attackers are hailed as saviors of the poor, the oppressed, and the nation generally, and the blame for the the bad consequences is dumped elsewhere, usually on Jews, greedy bankers, speculators, etc, because such attacks are difficult for ordinary people understand."
mats: in other news, TIL 73.6% of US adults over 20 are overweight or obese https://www.cdc.gov/nchs/fastats/obesity-overweight.htm
mats: amazing