The Trump implosion thread!

Quote: rxwine

So those miles long lines to food banks in Texas were just people avoiding working?

Look, I agree a lot of people are hurting. Just like a lot of people were hurting before the pandemic. When there is a sign saying ‘free $60 worth of good today’ lots of people go get the food so they have the $60 to pay for their IPhone 12. I was looking at the cars and was trying to find one worth less than my 2014 Sonata. Took a while. What makes you for one second think that most of the pick up free food people aren’t working? Or have not worked for years? You do understand someone on ‘welfare’ will still get the monthly allotment in addition to the free good?

I am not against charity. Just donated $100 to Buffalo City Mission. Feeds those who come in off the street. I’ll take my chance with them that the overwhelming majority are bona fide.

Summary.... not against helping those that need help. Against giving an incentive to not work. I’ve relayed the story of daughter’s (now ex!) boyfriend who was laid of from Panera in March and made a few hundred dollars MORE a week NOT WORKING until October. (Probably still today) Just figured unemployment was a better job than working. There is a whole glass of people like that.

Quote: AZDuffman

Unemployment is 6.7%. That is not even considered recession-level. It is lower than it was in most of Obama's first term. But turn off evictions and too many people will just refuse to pay.

Can see it coming. A permanent rule, something like, ‘No rent collections when the unemployment rate is above 6% for six or more consecutive months’. Or, ‘No rent collections during a recession’.

I’m watching the one-term loser’s rally on Fox.

Love seeing him whine about losing.

Quote: ams288

Love seeing him whine about losing.

He tried to run the country like a business enterprise, as the Chinese do, but 80 million Americans think Biden has a better idea. He claims the dems are going to surrender to China. Not that they have a choice. Thanks to our leaders, the future belongs to China in perpetuity.

While the bankrupt US was spending trillions over the last twenty years, getting it’s butt kicked in the Middle East and Africa, China was developing trading partners. They built 3,600 miles of road and railways in Africa, more than 16 ports, dozens of large-scale electric generating stations, 130 medical centers, and 170 schools.

125.5 giga watts of power for Africa, while we're building windmills.

China has the only economy that will grow rather than contract this year. They recently launched the world’s first 6g satellite. They’re collecting foreign DNA to develop vaccines and probably bio weapons. They’ve developed a hypersonic nuclear missle. They’re testing a hypersonic jet engine that will be able to reach anywhere in the world within two hours. They’re developing a computer that is 10 billion times times faster than Google's super computer.

While the yield on 10 yr. US Treasuries is a pitiful 0.97%, and will fall further, the China 10 yr. Government Bond yields 3.303%. Better yet, their economy doesn’t need any stimulus, so their interest rates can rise.

Quote: Tanko

He tried to run the country like a business enterprise, as the Chinese do, but 80 million Americans think Biden has a better idea. He claims the dems are going to surrender to China. Not that they have a choice. Thanks to our leaders, the future belongs to China in perpetuity.

While the bankrupt US was spending trillions over the last twenty years, getting it’s butt kicked in the Middle East and Africa, China was developing trading partners. They built 3,600 miles of road and railways in Africa, more than 16 ports, dozens of large-scale electric generating stations, 130 medical centers, and 170 schools.

125.5 giga watts of power for Africa, while we're building windmills.

China has the only economy that will grow rather than contract this year. They recently launched the world’s first 6g satellite. They’re collecting foreign DNA to develop vaccines and probably bio weapons. They’ve developed a hypersonic nuclear missle. They’re testing a hypersonic jet engine that will be able to reach anywhere in the world within two hours. They’re developing a computer that is 10 billion times times faster than Google's super computer.

While the yield on 10 yr. US Treasuries is a pitiful 0.97%, and will fall further, the China 10 yr. Government Bond yields 3.303%. Better yet, their economy doesn’t need any stimulus, so their interest rates can rise.

For once we agree. Trump was desperate to have the control over the country and the media that the Chinese do, but luckily we are protected from such tyranny here.

Odd that cons are now wanting us to be "run" like China (one of the few openly communists and socialists countries on the planet). But, I guess anything to praise Trump....



Here is the application for Chinese Nationality (You have to renounce U.S. citizenship, does not sound like that should be a problem for cons):
https://www.immd.gov.hk/eng/services/chinese_nationality/Application_for_Naturalization_as_a_Chinese_National.html

Quote: Tanko

He tried to run the country like a business enterprise, as the Chinese do, but 80 million Americans think Biden has a better idea. He claims the dems are going to surrender to China. Not that they have a choice. Thanks to our leaders, the future belongs to China in perpetuity.

While the bankrupt US was spending trillions over the last twenty years, getting it’s butt kicked in the Middle East and Africa, China was developing trading partners. They built 3,600 miles of road and railways in Africa, more than 16 ports, dozens of large-scale electric generating stations, 130 medical centers, and 170 schools.

125.5 giga watts of power for Africa, while we're building windmills.

China has the only economy that will grow rather than contract this year. They recently launched the world’s first 6g satellite. They’re collecting foreign DNA to develop vaccines and probably bio weapons. They’ve developed a hypersonic nuclear missle. They’re testing a hypersonic jet engine that will be able to reach anywhere in the world within two hours. They’re developing a computer that is 10 billion times times faster than Google's super computer.

While the yield on 10 yr. US Treasuries is a pitiful 0.97%, and will fall further, the China 10 yr. Government Bond yields 3.303%. Better yet, their economy doesn’t need any stimulus, so their interest rates can rise.

Go China and Asia
Got money riding on this
Just bought into T. Rowe Price New Asia Fund
PRASX
Hopefully this grows big time
https://prospectus-express.broadridge.com/summary.asp?doctype=pros&clientid=trowepll&fundid=77956H500

Quote: SOOPOO

Look, I agree a lot of people are hurting. Just like a lot of people were hurting before the pandemic. When there is a sign saying ‘free $60 worth of good today’ lots of people go get the food so they have the $60 to pay for their IPhone 12. I was looking at the cars and was trying to find one worth less than my 2014 Sonata. Took a while. What makes you for one second think that most of the pick up free food people aren’t working? better job than working.

Do you think people would sell their car before heading to a food bank?

Anyway,

Quote:

Meanwhile, capital is getting harder to come by. Lower interest rates means cheaper mortgages, but they also make it harder to save in the first place via traditional rate-based accounts. “The Federal Reserve has a blunt tool: lower interest rates,” says Daryl Fairweather, chief economist at Redfin. “That only helps people who have access to credit. You only get that loan if you can pay it back. If you lost your job, you’re not going to benefit.” Furthermore, banks have raised their lending standards to hedge against economic uncertainty, making it tougher for many to borrow. The latest data from the Federal Reserve’s Consumer Credit Panel show that recent homebuyers are among the most financially stable people in the country—72% of mortgage loans last quarter were tied to applicants with credit scores over 760, compared with 64% prior to the pandemic. 


Which is all to say that while affluent Americans are on a buying spree, lower income workers are finding it more and more difficult to quite literally get a foot in the door.

Quote: rxwine

Do you think people would sell their car before heading to a food bank?

I would think they should sell their car and buy the lowest priced replacement for it before taking handouts.

Quote: DRich

I would think they should sell their car and buy the lowest priced replacement for it before taking handouts.

The car has to be worth enough, minus whatever they still owe, because they sure aren't getting a car loan while unemployed. And even if they could it would probably reflect their current credit score, and be at double digits percentage. In other words, probably in most cases impractical. Not to mention worrying about issues with a used car they may be risking.

Quote: rxwine

In other words, probably in most cases impractical. Not to mention worrying about issues with a used car they may be risking.

Why can't they sell their $10,000 car and get a $3000 car? I would think car issues would be less pressing than not eating.