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1. Boomerman (boomerman@poa.st)'s status on Tuesday, 14-Mar-2023 04:05:23 JST Boomerman

   • NotImportant
   • jollybudd1350 🎄 :njp: 🎄
   • Dr. Sex, Ph.d, Esq.
   @doctorsex @johnbudd1350 @NotImportant They put all their cash into low yield Mortgage backed securities in like 2019 when interest was 0 the yield was 1.5 on them. They realized no one wants an asset that only pays 1.5% when interest rates are over that so they tried to sell them to turn them back into cash. When no one bought them the value plummeted and their "billions" turned to zero over night. This can happen to any asset that pays less than daddy jeromes new interest rate. It means cash is now more valuable than most bullshit stock people have been buying on low interest, now money is expensive again.
   • Dr. Rupert, Doctor of Shitpoasting Studies (rupertvonripp@poa.st)'s status on Tuesday, 14-Mar-2023 04:05:23 JST Dr. Rupert, Doctor of Shitpoasting Studies

     in reply to

     • NotImportant
     • jollybudd1350 🎄 :njp: 🎄
     • Dr. Sex, Ph.d, Esq.

     @Boomerman @doctorsex @johnbudd1350 @NotImportant A whole lot of the “economy,” we might discover, is predicted on near zero interest rates. How much fake and gay delivers any real value?