Hey, what does this latest rate hike mean?

[Mike Honcho 4,028]

1 minute ago, easilyscan said:

So this means that 'before' the Fed reserve started hiking rates, (and I was receiving 1/100 of one percent in my Fidelity money market) the banks were basically getting free money to loan out ? 

 

I gave Peenie the simplified version, because I only know the simple version---but yes, banks have  been getting nearly free money from the fed for quite a while.  Anything more than the basics, and you are going to need some of the others guys here who can dive a lot deeper into these subjects.  If you have a question about film editing/theory though, I'm your guy. 

[5-Points 2,729]

2 minutes ago, Horseman said:

How many times do we have to go over this?

The first spending bill (under Trump) was bipartisan, almost unanimously.  The second bill (under Biden) was the exact opposite and the Republicans warned it would send us to a recession.  

Never let a crisis go to waste. Gotta spend that money or it can't find it's way into their pockets. 

[TheNewGirl 1,029]

1 hour ago, peenie said:

That is correct, I have no idea. They didn't teach this information at my school. 

You have a college degree; you have the ability to learn basic supply, demand, economics, and how the changes in interest rates affect YOU and the prices of items around you. It's not just about "buying a house." 

Banks now lend to each other and to businesses at higher rates - the cost of goods will go up as well. If it costs more money for me to make the test tubes that you use in your lab, I am going to charge you more when you order them. This in turn costs your lab more, and then next year when you're up for a raise, you may only get 2% instead of 10%, because the costs of doing business are more and they make cuts where it's easiest - your raises. 

Again, you don't have to go to school for this. Go get a book and teach your self how it works. It might help when the time to vote comes and "your guy" is saying that minimum wage should be $20/hour...you will make more informed decisions. 

[Shooter McGavin 589]

5 minutes ago, Horseman said:

How many times do we have to go over this?

The first spending bill (under Trump) was bipartisan, almost unanimously.  The second bill (under Biden) was the exact opposite and the Republicans warned it would send us to a recession.  

And how many times do we have to say it doesn't matter?  It's everyone's fault, all politicians.  One of the greatest thefts in history, and you fools are arguing over whose fault it was, and trans kids, and hammers.  Bunch of tards

 

[Hardcore troubadour 12,640]

Just now, Shooter McGavin said:

And how many times do we have to say it doesn't matter?  It's everyone's fault, all politicians.  One of the greatest thefts in history, and you fools are arguing over whose fault it was, and trans kids, and hammers.  Bunch of tards

 

The energy part is Bidens fault. 100 pct. 

[Horseman 1,513]

2 minutes ago, cmh6476 said:

Quit cherry picking.   The stimulus payments.   Advances in chid tax credits.   PPP loans.   Coronavirus food programs.   ARPA.  I mean we can debate what was warranted or not all day long.   But all of these things have led us to the environment we all are currently in right now. 

And all of them under two major covid relief packages I mentioned above.  

[Gladiators 1,904]

Student loan forgiveness makes a lot of sense. Thanks Biden.

[cyclone24 1,814]

18 minutes ago, Shooter McGavin said:

I didn't vote for this, and this would have happened if trump won anyway.

No sympathy for starving people if they voted for Biden.  What a classless turd

If you voted for a party whose primary objective is its people relying on the government (see illegal immigration, causing mass inflation, killing oil, on and on etc)

No. no i have zero sympathy if you voted blue and now struggle.

Do no mean tweets feed you? 
 

There is literally no positive metric democratic policies have created under Biden. 

[Strike 3,969]

5 minutes ago, Hardcore troubadour said:

The energy part is Bidens fault. 100 pct. 

And the energy part trickles down to just about everything else.

[easilyscan 558]

11 minutes ago, Mike Honcho said:

I gave Peenie the simplified version, because I only know the simple version---but yes, banks have  been getting nearly free money from the fed for quite a while.  Anything more than the basics, and you are going to need some of the others guys here who can dive a lot deeper into these subjects.  If you have a question about film editing/theory though, I'm your guy. 

Appreciate the reply, and no need to go any deeper. I understand it all too well. The Fed left rates far too low, for far too long. When you're getting money for nothing, whatever rate you charge on loans is pure profit. It reminds me of the 2009 financial crisis/housing bubble. I don't have the time to explain how the seeds for that meltdown were planted way back in the late 70s.

Watched the movie 'the big short' recently. Good movie except for one thing, there was never a mention of how our government & certain groups laid out the infrastructure to allow it to happen.

If anyone reading this ever has an extra half an hour, here's a link to a guy who explains it in plain English.

https://www.backwoodshome.com/the-meltdown-and-the-bailout-why-how-and-what-they-mean/

 

 

 

[Horseman 1,513]

3 minutes ago, Shooter McGavin said:

And how many times do we have to say it doesn't matter?  It's everyone's fault, all politicians.  One of the greatest thefts in history, and you fools are arguing over whose fault it was, and trans kids, and hammers.  Bunch of tards

 

Except facts.

Trump signs a relief package and the economy recovers 9 months later. 

Biden signs an unneeded relief package and 9 months later the economy crashes.  Republicans warned Biden not to do it.

Anyone with a pea brain can see who's fault it is.

 

 

[Shooter McGavin 589]

7 minutes ago, Horseman said:

Except facts.

Trump signs a relief package and the economy recovers 9 months later. 

Biden signs an unneeded relief package and 9 months later the economy crashes.  Republicans warned Biden not to do it.

Anyone with a pea brain can see who's fault it is.

 

 

You're such a simpleton

[cyclone24 1,814]

2 minutes ago, Shooter McGavin said:

You're such a simpleton

Aka I have nothing left to refute these facts.

[Mike Honcho 4,028]

12 minutes ago, easilyscan said:

Appreciate the reply, and no need to go any deeper. I understand it all too well. The Fed left rates far too low, for far too long. When you're getting money for nothing, whatever rate you charge on loans is pure profit. It reminds me of the 2009 financial crisis/housing bubble. I don't have the time to explain how the seeds for that meltdown were planted way back in the late 70s.

Watched the movie 'the big short' recently. Good movie except for one thing, there was never a mention of how our government & certain groups laid out the infrastructure to allow it to happen.

If anyone reading this ever has an extra half an hour, here's a link to a guy who explains it in plain English.

https://www.backwoodshome.com/the-meltdown-and-the-bailout-why-how-and-what-they-mean/

 

 

 

Sorry, didn't catch you were being facetious in your first reply to me.    

Big fan of the Big Short(movie) makes it easier to understand than the Michael Lewis book. I read that twice and slowly and once you start getting to the CDO's, synthetic CDO's, Credit Default swaps, gets real complicated real fast.  Which of course is what TBS was saying, the banks intentionally make this complicated because they don't want people to understand all of it. Thanks for the link, I'll make sure to check it out. 

[nobody 2,037]

27 minutes ago, Shooter McGavin said:

And how many times do we have to say it doesn't matter?  It's everyone's fault, all politicians.  One of the greatest thefts in history, and you fools are arguing over whose fault it was, and trans kids, and hammers.  Bunch of tards

 

And mean tweets

[nobody 2,037]

27 minutes ago, Hardcore troubadour said:

The energy part is Bidens fault. 100 pct. 

Idiot thinks gas would've touched $7/gal under Trump.

Idiot also thinks trump would've spent additional trillions for no reason.

[nobody 2,037]

23 minutes ago, Horseman said:

Except facts.

Trump signs a relief package and the economy recovers 9 months later. 

Biden signs an unneeded relief package and 9 months later the economy crashes.  Republicans warned Biden not to do it.

Anyone with a pea brain can see who's fault it is.

 

 

Preach Biden was trying to buy votes which is stupid because his supporters just print them out at Kinkos anyway.

[Shooter McGavin 589]

8 minutes ago, cyclone24 said:

Aka I have nothing left to refute these facts.

I would but he would never understand.  The facts are that this has been coming for years, going all the way back to 2008 when we bailed out the banks.  Crazy govt spending, free money, it's existed for 15 years, globally, we knew it had to end.

Pandemic hits, everything shuts off, trump spends $3T, then everything opens up and everyone is flush with cash, but supply chains are focked, bam, here we go.  Now we got a dumpster fire, and of course Biden throws another $2T of gasoline on top of that, and here we are.

But most people go with Old Man Biden Bad.

[easilyscan 558]

1 minute ago, Mike Honcho said:

and once you start getting to the CDO's, synthetic CDO's, Credit Default swaps, gets real complicated real fast.  

That's a great point. The Banks definitely played a huge part. The best point the guy makes in the link I included, is that all those subprime loans that they bundled into those ultra complicated investments, would never have been there without the government (& other groups) becoming more involved in housing around 1977. 

[Shooter McGavin 589]

5 minutes ago, nobody said:

Idiot thinks gas would've touched $7/gal under Trump.

Idiot also thinks trump would've spent additional trillions for no reason.

Trump did spend trillions for no reason

[Shooter McGavin 589]

7 minutes ago, nobody said:

Preach Biden was trying to buy votes which is stupid because his supporters just print them out at Kinkos anyway.

And trump wasn't?  Trump knew that if the market didn't recover or the economy didn't recover, then he was gone.  So he dump $3T into it as a desperate move to save himself.  Now we're all focked

[nobody 2,037]

8 minutes ago, Shooter McGavin said:

Trump did spend trillions for no reason

Ever hear of covid?  The funny thing is if the blue team didn't get nsist on locking everything down we wouldn't have had to spend it.

[cyclone24 1,814]

So just so I’m clear Trump “screwed us” from spending trillions even though it was a bipartisan agreement. We’re blaming poor old Joe because he spent trillions when everyone on the freaking planet told him not to and it would cause inflation. That sum it up pretty well?

again, if there’s even one metric that says we are doing better under democratic policies. I am all ears because I can point to probably 10-15 that are an absolute mess.

[Horseman 1,513]

1 minute ago, Shooter McGavin said:

Trump did spend trillions for no reason

Can’t dumb it down any more for you. 
 

CARES Act was bipartisan and nearly unanimous.  And a tanking economy recovers in 9 months.

Rescue Plan was Democrats and Biden. “Gas on the fire” to quote a tranny lover. Fuel, supply chain, inflation, all of it. Booming economy tanks and inflation sky rockets.  
 

Only a dummy would point back to the last recession and say see! It was always going to happen. Cyclical!  Can’t blame Democrats!

 

 

[Shooter McGavin 589]

3 minutes ago, nobody said:

Ever here of covid?

We needed to spend $3T why?  So people wouldn't get sick?  Or die?  Well good job Trump!

Biden spent $2T on covid.  But that's bad of course because OMB

[Horseman 1,513]

2 minutes ago, cyclone24 said:

So just so I’m clear Trump “screwed us” from spending trillions even though it was a bipartisan agreement. We’re blaming poor old Joe because he spent trillions when everyone on the freaking planet told him not to and it would cause inflation. That sum it up pretty well?

again, if there’s even one metric that says we are doing better under democratic policies. I am all ears because I can point to probably 10-15 that are an absolute mess.

Yep

[Shooter McGavin 589]

3 minutes ago, cyclone24 said:

So just so I’m clear Trump “screwed us” from spending trillions even though it was a bipartisan agreement. We’re blaming poor old Joe because he spent trillions when everyone on the freaking planet told him not to and it would cause inflation. That sum it up pretty well?

again, if there’s even one metric that says we are doing better under democratic policies. I am all ears because I can point to probably 10-15 that are an absolute mess.

Trump signs the bills, he wanted to spend the $3T to save his job, so did the Democrats.  They all focked us.  Open your eyes sh1t stain.

[nobody 2,037]

Everyone begs Trump to spend money because they locked us down.  Trump overspends knowing that we needed a bazooka to solve the problem and overshot.

Everyone begs Biden not to spend too much money, he signs us up for 2 Trillion for no reason.  

Shooter thinks these scenarios are the same.

[OldMaid 1,838]

https://www.epi.org/blog/rising-inflation-is-a-global-problem-u-s-policy-choices-are-not-to-blame/

[Shooter McGavin 589]

2 minutes ago, nobody said:

Everyone begs Trump to spend money because they locked us down.  Trump overspends knowing that we needed a bazooka to solve the problem and overshot.

Everyone begs Biden not to spend too much money, he signs us up for 2 Trillion for no reason.  

Shooter thinks these scenarios are the same.

I think you're taking some liberties with your history regarding everyone told trump to spend and everyone told Biden not to, but sure, every Republican tells the d president to be fiscally conservative, but then when the r gets in, the. Have their hands open for money.

Either way, my whole point was the $3T that trump spent was surely enough to create inflation, even if Biden never spent a dime.

They are both to blame

It's ridiculous to think inflation would be materially different right now if trump was in office.

 

[Shooter McGavin 589]

1 minute ago, OldMaid said:

https://www.epi.org/blog/rising-inflation-is-a-global-problem-u-s-policy-choices-are-not-to-blame/

Liberal media I'm sure

[nobody 2,037]

3 minutes ago, Shooter McGavin said:

 

It's ridiculous to think inflation would be materially different right now if trump was in office.

 

False.  Face it, dude.  Your guy is a disaster.

[cyclone24 1,814]

6 minutes ago, nobody said:

Everyone begs Trump to spend money because they locked us down.  Trump overspends knowing that we needed a bazooka to solve the problem and overshot.

Everyone begs Biden not to spend too much money, he signs us up for 2 Trillion for no reason.  

Shooter thinks these scenarios are the same.

That’s what I mean. The left wants to blame Trump but there is a very clear and obvious decline and literally everything since Biden took office. Things that have absolutely nothing to do with Trump. I don’t really understand how you suspend your beliefs thinking Joe is somehow doing a good job when by the numbers Trump was doing just fine. Trumps problem is he is a complete, moron. 

[Shooter McGavin 589]

1 minute ago, nobody said:

False.  Face it, dude.  You're guy that s a disaster.

I agree Biden is a disaster, but you're not using your brain if you blame everything on him.

[cyclone24 1,814]

3 minutes ago, Shooter McGavin said:

Liberal media I'm sure

Yeah, go to the about us page and just scroll who their head people are. Holy crap. 

Quite the unbiased source. 

[cyclone24 1,814]

Just now, Shooter McGavin said:

I agree Biden is a disaster, but you're not using your brain if you blame everything on him.

Cool. Tell me something that’s gotten better under Joe. 

 Inflation hasn’t gone down, even though he spent trillions on a reduction act that does nothing to reduce the inflation. How about immigration? How about the cost of food, how about the cost of goods? How about job creation? How about foreign stability with her enemies?

[Shooter McGavin 589]

Just now, cyclone24 said:

Cool. Tell me something that’s gotten better under Joe. 

 Inflation hasn’t gone down, even though he spent trillions on a reduction act that does nothing to reduce the inflation. How about immigration? How about the cost of food, how about the cost of goods? How about job creation? How about foreign stability with her enemies?

Yes, inflation has gone up, that's what the cost of food and goods means.  Job creation is still going strong, nothing to do with Biden.

I'm not gonna defend Biden, he's terrible, I didn't vote for him, can't wait until he's gone.

[craftsman 1,045]

Just now, Shooter McGavin said:

Yes, inflation has gone up, that's what the cost of food and goods means.  Job creation is still going strong, nothing to do with Biden.

I'm not gonna defend Biden, he's terrible, I didn't vote for him, can't wait until he's gone.

[Hardcore troubadour 12,640]

11 minutes ago, Shooter McGavin said:

I think you're taking some liberties with your history regarding everyone told trump to spend and everyone told Biden not to, but sure, every Republican tells the d president to be fiscally conservative, but then when the r gets in, the. Have their hands open for money.

Either way, my whole point was the $3T that trump spent was surely enough to create inflation, even if Biden never spent a dime.

They are both to blame

It's ridiculous to think inflation would be materially different right now if trump was in office.

 

What about the cost of energy? Trumps fault too? 

[cyclone24 1,814]

13 minutes ago, Shooter McGavin said:

I think you're taking some liberties with your history regarding everyone told trump to spend and everyone told Biden not to, but sure, every Republican tells the d president to be fiscally conservative, but then when the r gets in, the. Have their hands open for money.

Either way, my whole point was the $3T that trump spent was surely enough to create inflation, even if Biden never spent a dime.

They are both to blame

It's ridiculous to think inflation would be materially different right now if trump was in office.

 

Again, one was bipartisan and agreed to. The other was not. I’m not sure how you think these are the same