First Republic Bank - Bank 3 to fail in 2023.

[Hardcore troubadour 14,910]

13 minutes ago, The Real timschochet said:

I honestly think it’s an unreasonable position, based on two arguments: 

1. Inflation is world wide. 
 

2. Trump spent as much as Biden has. 
 

I’ve heard no good rebuttal to these two points. So I conclude that your position is untenable. 

Trump spent as much. And to you, that’s all that matters. Throwing gasoline on a fire doesn’t enter your mind.  Trump. 

[The Real timschochet 6,391]

1 minute ago, Hardcore troubadour said:

Trump spent as much. And to you, that’s all that matters. Throwing gasoline on a fire doesn’t enter your mind.  Trump. 

My point is that I don’t believe US domestic spending contributes in any significant way to world wide inflation. It’s not pouring gasoline on a fire. It just doesn’t matter. 

[The Real timschochet 6,391]

Biden isn’t helping himself by taking no responsibility and blaming Putin. Yes Putin is partly responsible but Covid is way more responsible. And though Biden is not responsible IMO, he should publicly take responsibility anyway. Because that’s what good Presidents do. Unfortunately we haven’t had one in a while. 

[TBayXXXVII 2,480]

1 hour ago, edjr said:

This is another reason the 2 party system blows. 

As the number of parties increase, the likelihood of socialism increases.

[TBayXXXVII 2,480]

2 hours ago, edjr said:

We as a society need cheaper everything. Food, gas, housing, clothes. EVERYTHING.

 

It's not possible.  We have too many social causes that the government gets wrapped up in, plus ever increasing minimum wages, and unions.

[edjr 6,578]

8 minutes ago, TBayXXXVII said:

It's not possible.  We have too many social causes that the government gets wrapped up in, plus ever increasing minimum wages, and unions.

Did we not have social causes in 2020 and 2021?

[TBayXXXVII 2,480]

3 minutes ago, edjr said:

Did we not have social causes in 2020 and 2021?

Prices have been escalating long before 2020 & 2021.

[jerryskids 6,550]

36 minutes ago, The Real timschochet said:

I honestly think it’s an unreasonable position, based on two arguments: 

1. Inflation is world wide. 
 

2. Trump spent as much as Biden has. 
 

I’ve heard no good rebuttal to these two points. So I conclude that your position is untenable. 

If you haven't heard a good rebuttal to #2, you haven't looked very hard, because I've provided it here recently, probably to you.

Trump spent a lot in one year, his last, the year of the once in a century (we hope) pandemic.  Biden continues to not only spend at those pandemic levels but grow off of them.  Heck, the Republicans proposed a return of 2024 discretionary spending to 2022 levels (which is still too high IMO) as a part of the debt ceiling negotiations, and the Left laughed at that.

There you go.  Glad I could help you learn something today.   

[edjr 6,578]

3 minutes ago, TBayXXXVII said:

Prices have been escalating long before 2020 & 2021.

Did we not have social programs then? Prices have doubled since

[TBayXXXVII 2,480]

4 minutes ago, edjr said:

Did we not have social programs then? Prices have doubled since

Are you saying that everything was cheap before 2020?

[edjr 6,578]

1 minute ago, TBayXXXVII said:

Are you saying that everything was cheap before 2020?

Prices did not double from 2018 to 2020. they gradually went up, like they should. Why did they double from 2020 to 2022?

[TBayXXXVII 2,480]

5 minutes ago, edjr said:

Prices did not double from 2018 to 2020. they gradually went up, like they should. Why did they double from 2020 to 2022?

Things weren't cheap.  The inflation rate is what it is, because of the things I mentioned, being the primary source.  Since then, the House Recovery Bill in 2020 is a the biggest cause of today.  You can't undo that.  The increased social causes in that bill, along with arbitrarily escalating the minimum wage instead of allowing the market to accomplish it, and the higher union costs just compound the issue.

[The Real timschochet 6,391]

26 minutes ago, jerryskids said:

If you haven't heard a good rebuttal to #2, you haven't looked very hard, because I've provided it here recently, probably to you.

Trump spent a lot in one year, his last, the year of the once in a century (we hope) pandemic.  Biden continues to not only spend at those pandemic levels but grow off of them.  Heck, the Republicans proposed a return of 2024 discretionary spending to 2022 levels (which is still too high IMO) as a part of the debt ceiling negotiations, and the Left laughed at that.

There you go.  Glad I could help you learn something today.   

The problem with this argument (which of course I’ve read before) is that even before Trump’s last year, he increased spending on the military and on the border while at the same time cutting taxes, which forced us as a nation to borrow a ton more money, which is why the debt ceiling was raised several times on his watch. So no, your rebuttal makes no sense. 
 

And this is a problem I have with conservatives: they only care about cutting spending when a Democrat is in charge. And they only care about cutting spending on programs they don’t like.

[Hardcore troubadour 14,910]

Just now, The Real timschochet said:

The problem with this argument (which of course I’ve read before) is that even before Trump’s last year, he increased spending on the military and on the border while at the same time cutting taxes, which forced us as a nation to borrow a ton more money, which is why the debt ceiling was raised several times on his watch. So no, your rebuttal makes no sense. 
 

And this is a problem I have with conservatives: they only care about cutting spending when a Democrat is in charge. And they only care about cutting spending on programs they don’t like.

So you think cutting our supply of oil had no affect on inflation? 

[TimHauck 2,598]

1 hour ago, RaiderHaters Revenge said:

well considering you supported forced vaccinations and lockdowns, the answer is yes

 

I never supported forced vaccinations, and I only supported lockdowns for about 6 weeks.

[edjr 6,578]

1 minute ago, Hardcore troubadour said:

So you think cutting our supply of oil had no affect on inflation? 

A real good start to fix inflation is to cut the price of gas/diesel in half

[RaiderHaters Revenge 4,236]

Just now, TimHauck said:

I never supported forced vaccinations, and I only supported lockdowns for about 6 weeks.

k sure guy

[edjr 6,578]

2 minutes ago, TimHauck said:

I never supported forced vaccinations, and I only supported lockdowns for about 6 weeks.

We were never going to have true lockdowns anyway.  People had to get out and get stuff.

Also. Real Estate agents were deemed "Essential workers"   So how can you trust the gubment to get anything done right?

Golf (an outdoor sport) was locked down but open houses were fine, just wear a mask    

[RLLD 4,143]

1 hour ago, The Real timschochet said:

Sorry I disagree with all of this. And calling me or anyone else who shares my position stupid doesn’t exactly help your cause (which is untenable to begin with IMO.) 

I am not sure how else to frame it.  What he has done here is akin to throwing gas on the fire and then wondering why you got burned......of COURSE you got burned.

This is all basic, simple, elementary economics.

We have observed time and again the departure of Biden admin decisions from even a modicum of simple common sense even.  And who is disproportionatly hurt?   The lower income areas, minorities...pointedly African Americans....as ususal. 

[jerryskids 6,550]

11 minutes ago, The Real timschochet said:

The problem with this argument (which of course I’ve read before) is that even before Trump’s last year, he increased spending on the military and on the border while at the same time cutting taxes, which forced us as a nation to borrow a ton more money, which is why the debt ceiling was raised several times on his watch. So no, your rebuttal makes no sense. 
 

And this is a problem I have with conservatives: they only care about cutting spending when a Democrat is in charge. And they only care about cutting spending on programs they don’t like.

The problem I have with progressives is that they make up crap.  Below is the US Debt going back to 4 years of Obama for comparison.  Note that Trump continued the slight uptick yearly until 2020 and Covid.  Note that Biden has said "hold my beer" since then.  Also tax revenue was down in 2020 because the economy was shut down.

Quote

 

2013    $16,738    99%    Sequester, government shutdown
2014    $17,824    101%    QE ended, debt ceiling crisis
2015    $18,151    100%    Oil prices fell
2016    $19,573    105%    Brexit
2017    $20,245    104%    Congress raised the debt ceiling
2018    $21,516    105%    Trump tax cuts
2019    $22,719    107%    Trade wars
2020    $27,748    129%    COVID-19 and 2020 recession
2021    $29,617    124%    COVID-19 and American Rescue Plan Act
2022    $30,824    123%    Inflation Reduction Act and student loan forgiveness

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

You are firmly in the list of people whose "objective reasoning" means zero without data/links to back it up.  

[edjr 6,578]

6 minutes ago, jerryskids said:

The problem I have with progressives is that they make up crap.  Below is the US Debt going back to 4 years of Obama for comparison.  Note that Trump continued the slight uptick yearly until 2020 and Covid.  Note that Biden has said "hold my beer" since then.  Also tax revenue was down in 2020 because the economy was shut down.

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

You are firmly in the list of people whose "objective reasoning" means zero without data/links to back it up.  

Kill shot. 

[RLLD 4,143]

2 hours ago, jerryskids said:

The problem I have with progressives is that they make up crap.  Below is the US Debt going back to 4 years of Obama for comparison.  Note that Trump continued the slight uptick yearly until 2020 and Covid.  Note that Biden has said "hold my beer" since then.  Also tax revenue was down in 2020 because the economy was shut down.

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

You are firmly in the list of people whose "objective reasoning" means zero without data/links to back it up.  

No doubt CNN and MSNBC have been advised by the White House to suggest this is misinformation. 

[edjr 6,578]

 

[TimHauck 2,598]

On 5/1/2023 at 10:25 AM, RLLD said:

I wonder, is Biden and his adolecent team of "expert" sitting around just looking dumfounded at each other as to how this could possible be happening.  I surmise they are that fockins stupid to not see how their policies are fomenting all this. 

I think this is a debate over how exactly we’re defining “formenting.”

Sure, technically if interest rates didn’t rise it seems SVB and First Republic wouldn’t have collapsed.  But it also seems they wouldn’t have collapsed if they had properly managed their interest rate risk.

Good thread here:

 

 

And video from a different guy making similar points:

 

[RLLD 4,143]

6 minutes ago, TimHauck said:

I think this is a debate over how exactly we’re defining “formenting.”

Sure, technically if interest rates didn’t rise it seems SVB and First Republic wouldn’t have collapsed.  But it also seems they wouldn’t have collapsed if they had properly managed their interest rate risk.

Good thread here:

 

 

And video from a different guy making similar points:

 

 

Concur. As I stated earlier in this thread.  But to what extent die the lies of the government in downplaying inflation as they did contribute to this?  That is the danger of the lies.

I would have expected much more from someone leading a financial institution. They should have easily known, as we did here, that it was all a lie. 

[Hardcore troubadour 14,910]

The Banker man grows fat, the working man grows thin.  It’s all happened before , it’ll happen again. 

[Dizkneelande 1,085]

Democrat Sold First Republic Stock, Bought JP Morgan Before Collapse

[Hardcore troubadour 14,910]

3 minutes ago, Dizkneelande said:

Democrat Sold First Republic Stock, Bought JP Morgan Before Collapse

And they don’t want a guillotine outside of congress. Where’s Maximilian Robes Pierre when you need him? Oh yeah. They cut his head off too.