The Trump implosion thread!

Quote: rxwine

The rightwing usually reject the label of xenophobia. but Trumps pardon of the Blackwater convicts generally reinforces the low regard for life of foreigners in an actual crime. It's hardly the first time either.

https://www.justice.gov/usao-dc/pr/former-blackwater-employee-sentenced-life-imprisonment-murder-2007-shooting-nisur-square

"Who cares about brown people in America, let alone Iraq? HAHAHAHAHA!" -- Donald Trump

Are GOP senators starting to get fed up with Donny’s corruption?

Quote: ams288

Are GOP senators starting to get fed up with Donny’s corruption?

I guess being the law and order President means tough on crime except cronies.

50% of Americans see Trump as a failed President

Trump agrees that failing to concede an election is humiliating and shows a lack of dignity

GOP says, "Screw you" to average American by blocking $2,000 stimulus checks

Biden's post-election stock market bump almost double that of Trump's in 2016

Quote: HotDog

Biden's post-election stock market bump almost double that of Trump's in 2016

The article gives the reasons. Vaccine news, Fed news, Spending news.

"That backdrop of easy Fed policy is essentially forcing investors to bet on stocks. And it's far more important to investors than politics"

Institutional investors are anticipating a massive spending increase by the Biden administration. That’s on top of the current annual massive increases in mandatory spending. It deflates the dollar vs other currencies, and creates an inflated stock market priced in deflated dollars.

63% of Americans, including 64% of Millennials, are living from paycheck to paycheck since March and are unable to save any money,.

Forty-seven percent have burned through their emergency savings, and 82% say they could not pay out of pocket for a $500 emergency

Twenty-five percent also report their incomes are not stable,

Across 13 states, between 39.4 and 56.2 percent of Americans said they likely will face eviction before February 2021.

Quote: Tanko

Across 13 states, between 39.4 and 56.2 percent of Americans said they likely will face eviction before February 2021.

Here's why I don't think there will be large-scale evictions. First of all, there's nowhere for those people to go. Local governments are absolutely not going to let tens of millions of people get dumped out into the street. Secondly, landlords aren't just going to kick most people out when there is no one to fill that vacancy. When their options are "hopefully get some money in a few months" or "get no money at all" they're going to pick the former.

Quote: HotDog

Quote: Tanko

Across 13 states, between 39.4 and 56.2 percent of Americans said they likely will face eviction before February 2021.

Here's why I don't think there will be large-scale evictions. First of all, there's nowhere for those people to go. Local governments are absolutely not going to let tens of millions of people get dumped out into the street. Secondly, landlords aren't just going to kick most people out when there is no one to fill that vacancy. When their options are "hopefully get some money in a few months" or "get no money at all" they're going to pick the former.

I have very mixed feelings on the rent moratorium.
All the press in on the renters but lets not forget the owners who for the most part dont really own.
There are repercussions when somebody does not pay rent
Small business landlords are already declaring bankruptcy. For many small landlords, no rent collecting means no income for their family.
Rent is not profit. Just a part is profit in most cases
A large part of the rent goes to the bank paying off the debt used to buy the property in most cases.
Last thing we need is a huge banking crisis because real estate owners are going bankrupt left and right because a rent moratorium that makes there properties worthless meaning the banking loans are now worthless. Bank crisis

Any rent moratorium needs to trickle up to suspended interest payments on the loans backing the properties being rented. Not deferred, but suspended. Temporary 0% rate, possibly including deferred or partial principal payments.

Quote: Dalex64

Any rent moratorium needs to trickle up to suspended interest payments on the loans backing the properties being rented. Not deferred, but suspended. Temporary 0% rate, possibly including deferred or partial principal payments.

But you forget that SOMEONE lent the money to the landlord! And you are proposing that there be a GOVERNMENT policy saying that the person (or bank, or credit union, etc..) loaning the money is just out of luck?

If the loan is a mortgage, the two parties made an agreement that the loan taker can have all the money, and then pay it back under defined terms. It doesn't say if there is a pandemic the loan is forgiven! If the mortgage cannot be repaid, there was an agreed upon remedy... the property becomes owned by the person that loaned the other person the money!

I intentionally used the word person instead of "company" or "bank", as it makes what is happening clearer.

If the government wants to use tax dollars to pay off the mortgage, that is a different decision. But just to say "f... the person who loaned the money is not right".