Deep state is working in tandem to destroy America to consolidate power and strip us of our rights.
https://www.thegatewaypundit.com/2023/03/just-in-federal-reserve-raises-interest-rates-25-basis-points-amid-banking-crisis/
Wait til the endless rate increases hit the housing industry.
Democrat’s record inflation has consequences.
But, the “I don’t care, as long as they aren’t Republican.” voters will vote the Dems back into office. They hate Trump to the point they would sell everything they own, lose everything they own…or maybe slice their own throat to keep Republicans out of office. Their hatred for Trump runs that deep. They proved it in the 2022 election. Gas prices soaring which caused groceries and other goods to skyrocket and they still voted Biden’s lemmings back into office.
I don’t know how young families are surviving. They could be living off Spam & beans, but it doesn’t matter to them the cost of living, inflation, etc. has soared since Biden took office. “It ain’t Trump! And it ain’t Republicans!” The hate and the ignorance of these people astound me. They can’t see the forest because the trees are in the way. Twenty years from now they’ll still be afflicted with TDS.
I agree but really it’s “their hatred of (insert Democrat media/party target)”.
It took all of a week to have the entire Democrat media/party and their lemmings to push for WW3 and nuclear war. These people would vote for Trump in 30 seconds if they were instructed to. They are brainless lemmings.
Bush was Hitler
McCain was Hitler
Romney was Hitler
Trump was Hitler
4/4 of of those are moderate Republicans. They aren’t even hard core conservative. Because as you know, “only moderates can win”.
Truth be told if a Hitler type was running against Trump, the Dems would be hard pressed on who to vote for. They would arrive at the polls saying “ANYBODY BUT TRUMP!” Being the Dem lemmings they are and more afflicted with TDS than they could ever be with Covid…they most assuredly would vote for the Hitler type. “S/he ain’t Trump so it couldn’t be any worse than it was with Trump.” Sometimes you just can’t fix stupid! 🤷🏼♀️ God help us! These people vote!
shareIf Hitler had a D in front of his name, the Democrat machine wouldn’t hesitate for a second to promote him.
The modern DNC has done much of the same. Jane Fonda, an outspoken representative of the left for half a century, just called for the deaths of people who are pro-life. And she did it on one of their biggest propaganda shows, The View. No one opposed her on the show.
They implement censorship every chance they get. They’re now imprisoning political opponents without trial.
The 2nd amendment is the only thing that prevents the Democrat media/party from going full Nazi.
They’ve had their new “Brown Shirts” Antifa & wannabes BLM on the ground for a few years now. The Democrat run cities just let them have at it without compunction. “I don’t like what you’re saying so if you know what’s good for you…you best leave!” They shut down any speech they didn’t like by destroying property. They caused harm to others while wearing black face coverings. I never will forget the Antifa jerk who knocked down an old man off his bike, threw his bike then ordered the man “You better stay down old man, if you know what’s good for you!” My husband would have shot the sob.
Portland sub-humans took over the city, redirected traffic by ordering the drivers to go another way. One old gent replied “The hell I will!” and disobeyed their orders. The chased him down and pulled him out of his car to assault him. Law Enforcement were ordered to “Stand Down”. Law & Order is one of the first things to go in order to reach chaos which leads to a dictator.
The above are shades of 1933 Germany.
”After Adolf Hitler became chancellor of Germany in January 1933, he moved quickly to turn Germany into a one-party dictatorship and to organize the police power necessary to enforce Nazi policies. He persuaded his Cabinet to declare a state of emergency and end individual freedoms, including freedom of press, speech, and assembly. Individuals lost the right to privacy, which meant that officials could read people's mail, listen in on telephone conversations, and search private homes without a warrant.
Hitler also relied on terror to achieve his goals. Lured by the wages, a feeling of comradeship, and the striking uniforms, tens of thousands of young jobless men put on the brown shirts and high leather boots of the Nazi Storm Troopers (Sturmabteilungen). Called the SA, these auxiliary policemen took to the streets to beat up and kill some opponents of the Nazi regime. Mere fear of the SA pressured into silence other Germans who did not support the Nazis.”
It’s history repeating itself.
share“Those who forget history, are condemned to repeat it.”
Link to my prior post:
https://encyclopedia.ushmm.org/content/en/article/the-nazi-terror-begins
"Wait til the endless rate increases hit the housing industry."
We're already nine months into house price declines.
Not to worry, everyone will get bailed out, some more than others. If you ain't insolvent, you ain't tryin'.
"Not to worry, everyone will get bailed out, some more than others. If you ain't insolvent, you ain't tryin'."
Too true my MC friend.
Also this would be great slogan for a Bank. "If you ain't insolvent, you ain't tryin'."
Don’t forget the stock market. My piddly amount of stock I do have has dropped 8 points since the 2022 election. I still can’t believe Biden and his gang of cutthroats are going after Ebay sellers who make over $600 for what they sell. Used clothing, shoes, junk to some, but a treasure for others, garage sell merchandise…uh oh that’s next. I sold thousands of dollars worth of merchandise for far less than I paid for the items. Too bad! “You made over $600!”
shareNASDAQ has reached escape velocity. Get in FOMO.
shareAffordable housing is a good thing.
shareThe Gov should bail out anyone that is struggling to make mortgage payments.
shareThey do.The program started after the 2008 mortgage collapse.
shareWhen do I get my $20,000 check from Biden?
shareThis is what's coming next: Keelai is all in on making sure Peter Thielen is made whole on his foolish bank accounts. THEN, Keelai will say "we gave Peter Thielen $50 million, that means we're rich, we can spend $X trillion dollars on something else, like everyone's student loans.
shareIt doesn't sound like you have a bank account.
shareIf I had $400k in cash, I wouldn't put $250k in one bank and $150k in a second bank - I'd probably put $50k in 8 different banks.
"Affordable housing is a good thing." Fair enough. But why don't you argue that we just write a check for what these loanowners are going to lose once they walk away from their houses, (which they will do, just like last time)? How is that different from making Peter Thielen whole?
And another question: these people that get reimbursed for deposits in excess of $250k, will they pay income tax on the excess? how about the additional Obamacare tax on net investment income?
Recently, I read that people are transferring their money from small banks to large ones which is a shame. Now, small community banks can fail.
Even with ex. $50k, I would divide the money between two banks. If one bank fails, I'd still have access to some money for bills, etc. until the FDIC kicked in. I'm 100% about having a contingency plan.
Millions of houses were purchased by large corporate investors which caused the home prices to become unaffordable. They're also causing the rents to skyrocket. The government should build millions of homes. Not going to happen.
Unlikely since it's not income. Link?
Why isn't it income? The Income Tax Code begins on page one, that any benefit that accrues to you in any way is taxable UNLESS there is an exception in the Code.
Today, I assume it's likely NOT taxable. But I think it SHOULD be taxable. Perhaps we look at it like Gambling Losses. Gambling losses are only deductible to the extent of Gambling Winnings. I would argue that Peter Thielen was "gambling" by having $50 million in one bank, especially considering he could have easily avoided such losses by putting $50 million in thousands of different banks. So the $50 million (less the insured $250k) is NOT deductible, and the $49+ million he gets from Janet Yellen is fully taxable. But that's just this man's opinion.
It's not a profit. If you have $300,000 in the bank and $300,000 is returned, then you only received what you originally had. No profit involved.
Interest rates earned from your $300,000 is taxable. For instance, $1,000 interest rate earned as a profit from your $300k. That $1,000 is reported to the IRS and you pay taxes on it.
"Gambling losses are only deductible to the extent of Gambling Winnings."
No, it's not. You can deduct up to $300 in losses. It doesn't matter what you win although that is profit and taxable.
I'm going to assume Thielen wanted available cash for bills or all-cash purchases which is his reason for not just buying a $50 million Picasso painting or mansion. Rich people's problems!
Your idea about taxing would create a run on banks when rich people withdrew their billions to avoid taxes. Ultimately, that would hurt the little guy.
Home Affordable Modification Program (HAMP), The Homeowner Assistance Fund (HAF) and Forbearance agreement with your bank.
You're welcome.
Conservatives don't know anything about how the economy works. Higher interest rates mean lower inflation and higher return on bank savings.
Most smart people refinanced their mortgages to a fixed interest rate so they'll be unaffected.
Most people are not smart. Most people refinanced their mortgage, sucked out as much equity as they could, and bought another house at +/- 3% interest rate. When interest rates go from 3% to 7%, new buyers can't swing that payment, current owners will realize they're underwater couple hundred grand, and they'll send the bank the keys aka "jingle mail."
shareThat happened the first time when they had variable rate mortgages and subprime loans which caused the mortgage meltdown in 2007-8.
Since then, many homeowners locked in low fixed-rate mortgages so they're not affected by increasing interest rates. Banks were not getting enough loans so they looked for another way to make money by purchasing Treasuries. But, the banks were forced to sell treasuries before maturity because people began withdrawing large sums of their money from the banks. The banks lost principal on the Treasuries because they sold them prematurely. That's why they ran into trouble.
Raising interest rates to slow the economy and tame inflation isn't working as well because of those fixed rate loans.
If people stopped spending so much money on trips, clothes, entertainment, then the economy would slow and inflation would come down. Duh!
"Banks were not getting enough loans so they looked for another way to make money by purchasing Treasuries. But, the banks were forced to sell treasuries before maturity because [insert any reason that isn't "trees don't grow to the sky"]
shareBecause the banks needed the cash to give to their customers who wanted their money returned. You know the movie scene from "It's A Wonderful Life" Bank Run scene:
https://www.youtube.com/watch?v=iPkJH6BT7dM
https://www.cnn.com/2023/03/14/tech/viral-bank-run/index.html
Purchasing Treasuries turned out to be a bad investment. Was it foreseeable at the time of purchase? Maybe, maybe not. But sometime between the time of purchase and the time regulators locked the doors, someone should have taken mitigating actions. But since we've committed whole hog to moral hazard, every loss will be backstopped by someone else, no one got off their asses.
share"bad investment"
Not necessarily.
"foreseeable at the time of purchase?"
Silicon Valley Bank failed to hedge risks with other type of investments in case interest rates went up and they didn't heed The Federal Reserve's year-long warning.
"no one got off their asses"
True. Too late now. Senate hearings to come.
"... about 97 percent of its deposits were uninsured by the federal government, which made customers more likely to run at the first sign of trouble. Many of the bank’s depositors were in the technology sector, which has recently hit tough times as higher interest rates have weighed on business.
And Silicon Valley Bank also held a lot of long-term debt that had declined in market value as the Fed raised interest rates to fight inflation. As a result, it faced huge losses when it had to sell those securities to raise cash to meet a wave of withdrawals from customers."
https://www.nytimes.com/2023/03/19/business/economy/fed-silicon-valley-bank.html