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  1. #876
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    I'm not defending trump but somebody needs to get money and eviction moratorium to the people that need it.
    The eviction moratorium is also a red herring... due to his (lack of) authority, he can only prevent evictions for tenants on buildings backed by federally guaranteed loans. That's about 25% of buildings out there, which leaves 75% with no eviction protection.

    The other solution is to actually have the HUD hand out rental assistance money. This is probably what will need to happen, but how much money the HUD actually has on hand, and how long it'll take to get that set up?

  2. #877
    dangerous floater Winehole23's Avatar
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    The eviction moratorium is also a red herring... due to his (lack of) authority, he can only prevent evictions for tenants on buildings backed by federally guaranteed loans. That's about 25% of buildings out there, which leaves 75% with no eviction protection.

    The other solution is to actually have the HUD hand out rental assistance money. This is probably what will need to happen, but how much money the HUD actually has on hand, and how long it'll take to get that set up?
    Diverting money from FEMA during hurricane season seems counterintuitive, but Trump is obliged to rob Peter to pay Paul in this situation.

  3. #878
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    Diverting money from FEMA during hurricane season seems counterintuitive, but Trump is obliged to rob Peter to pay Paul in this situation.
    bull , the Fed + Treasury found $Ts to bail out the oligarchy. Run the printing press.

    that USA and Fed govt is "broke" is a ing lie, can NEVER be true.

  4. #879
    4-25-20 Will Hunting's Avatar
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    The eviction moratorium is also a red herring... due to his (lack of) authority, he can only prevent evictions for tenants on buildings backed by federally guaranteed loans. That's about 25% of buildings out there, which leaves 75% with no eviction protection.

    The other solution is to actually have the HUD hand out rental assistance money. This is probably what will need to happen, but how much money the HUD actually has on hand, and how long it'll take to get that set up?
    Imo the solution is to pass the heroes Act but make it so each state getting relief is contingent on it disallowing evictions through the end of the year. I know DeathSantis likes seeing poor minorities suffer but it’d be political suicide for someone like him to turn down relief just because Florida wants to allow landlords to evict tenants.

  5. #880
    dangerous floater Winehole23's Avatar
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    bull , the Fed + Treasury found $Ts to bail out the oligarchy. Run the printing press.

    that USA and Fed govt is "broke" is a ing lie, can NEVER be true.
    I only meant that Trump can't originate spending. The money that goes to executive branch is somewhat subject to his discretion, but that's it. Trump can't spend without Congress.

  6. #881
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    Trump’s Executive Orders:

    EOs as PR and FUs


    Almost certainly the legal crafting of the

    EOs were written long before negotiations were dramatically ended by Trump’s hatched man

    leading his negotiating team, staffer Mark Meadows.

    Trump clearly planned the break up and his EOs some time ago.

    Trump, Meadows, Mnuchin and McConnell cleverly set up and sucked in Pelosi and Shumer into negotiations last week,

    never planning to conclude a deal by Friday,

    in the process getting them to reveal their priority demands and securing from them major concessions worth $1 trillion—

    for which the Democrat leaders apparently got nothing in return.

    A day later, Trump dropped the hammer and issued his EOs, which are

    designed more as PR for his election campaign.

    the EOs are therefore mostly smoke and mirrors,

    designed to produce useful electoral soundbites for his campaign between now and November.

    The EOs are more PR for public relations purposes,

    while also serving as FUs (F*** You) to the Democrats.

    https://www.counterpunch.org/2020/08/10/trump-scuttles-economic-stimulus-negotiations-what-next/

  7. #882
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    Trump aides quickly backpedal to reverse his huge Social Security blunder



    Trump vowed that workers would not have to pay back payroll taxes if he is re-elected,
    prompting advisers to downplay his comments amid concerns that such a move could defund Social Security and Medicare.

    The order would allow workers to defer their payroll tax payments through the end of the year, but

    those taxes would still need to be paid back by April 15.

    he would make make the cut “permanent” — but only if he’s re-elected.

    The president has no authority to unilaterally make changes to the tax code.

    Though
    Congress has the power to do so,

    Trump’s own Republican Party has
    repeatedly rejected his proposed payroll tax cut,

    economists believe the move would do little to help those who need it.

    “The people who would be seeing the biggest increase in their paychecks still have jobs, still have earnings . . .

    People who lost jobs or retired or get income from other sources would see no help from this.”

    https://www.rawstory.com/2020/08/tru..._campaign=5172



  8. #883
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    GOP senators are ‘getting the heat’ after McConnell punts on COVID relief package

    “Republican Senate in bents are getting the heat” after Senate Majority Leader Mitch McConnell (R-KY) decided to punt

    Democratic challengers have been hammering the GOP in bents for their inaction during the worst economic crisis in a decade and the worst public health crisis in a century.

    they were bewildered why Trump doesn’t want to pump more money into the economy heading into a crucial stretch of the 2020 election.

    “The most significant thing Trump could to aid his re-election is to pump over $3 trillion into the economy of the next three months,”

    “The fact that we won’t do it when Democrats are ready to give it him is mind boggling.”

    the GOP will have “a really hard time defending Donald Trump’s bullsh*t executive orders

    when their cons uents are being evicted and struggling to pay their bills after he cut the unemployment benefits.”

    https://www.rawstory.com/2020/08/gop..._campaign=5179



  9. #884
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    Kentuckians turn on McConnell as economy implodes:

    ‘Mitch better have my money’ CAPITALISM!


    Kentucky workers and businesses are losing patience with Senate Majority Leader Mitch McConnell (R-KY) as their economic prospect worsens.

    its economy continues to sputter amid the coronavirus pandemic,”

    “Many unemployed workers say their benefit checks aren’t enough to afford their bills, and

    some here simply have stopped looking for jobs.

    Businesses say they’re also hemorrhaging cash, and

    local governments fear they’re on the precipice of financial ruin, too.”

    Business owners, too, are running out of patience.

    “everything went south for me” in April and

    “I’m scared to death of losing everything.”

    He blames McConnell for putting him in this situation.


    McConnell has been a key obstacle

    https://www.rawstory.com/2020/08/kentuckians-turn-on-mcconnell-as-economy-implodes-mitch-better-have-my-money/?utm_source=&utm_medium=email&utm_campaign=5179



  10. #885
    dangerous floater Winehole23's Avatar
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    The GOP not wanting to save voters facing pestilence and economic ruin is a head scratcher.

  11. #886
    A neverending cycle Trainwreck2100's Avatar
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    The GOP not wanting to save voters facing pestilence and economic ruin is a head scratcher.
    2009 Dems would have given them the liability waiver already. Shoes on the other foot now, and the Dems are letting the R's let the country burn.

  12. #887
    dangerous floater Winehole23's Avatar
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    2009 Dems would have given them the liability waiver already. Shoes on the other foot now, and the Dems are letting the R's let the country burn.
    Why do businesses deserve liability waivers?

  13. #888
    A neverending cycle Trainwreck2100's Avatar
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    Why do businesses deserve liability waivers?
    where did i say they did

  14. #889
    dangerous floater Winehole23's Avatar
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    where did i say they did
    my bad, read your post in haste

  15. #890
    dangerous floater Winehole23's Avatar
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    2009 Dems would have given them the liability waiver already. Shoes on the other foot now, and the Dems are letting the R's let the country burn.
    The Senate has avoided negotiations entirely and Mark Meadows just took a week off, ostensibly on the notion that Trump's EOs bought leverage and time.

  16. #891
    Damns (Given): 0 Blake's Avatar
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    Kentuckians turn on McConnell as economy implodes:

    ‘Mitch better have my money’ CAPITALISM!


    Kentucky workers and businesses are losing patience with Senate Majority Leader Mitch McConnell (R-KY) as their economic prospect worsens.

    its economy continues to sputter amid the coronavirus pandemic,”

    “Many unemployed workers say their benefit checks aren’t enough to afford their bills, and

    some here simply have stopped looking for jobs.

    Businesses say they’re also hemorrhaging cash, and

    local governments fear they’re on the precipice of financial ruin, too.”

    Business owners, too, are running out of patience.

    “everything went south for me” in April and

    “I’m scared to death of losing everything.”

    He blames McConnell for putting him in this situation.


    McConnell has been a key obstacle

    https://www.rawstory.com/2020/08/kentuckians-turn-on-mcconnell-as-economy-implodes-mitch-better-have-my-money/?utm_source=&utm_medium=email&utm_campaign=5179


    "Mitch better have my money"

  17. #892
    dangerous floater Winehole23's Avatar
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    The chart above is a fascinating look at the 3 sources economic stimulus: Congress, the Federal Reserve, and State/Local spending.


    The Federal Reserve is projected to continue to stimulate with bond purchases, ultra low rates (ZIRP) and frequent liquidity injections.
    States and Localities are a drag: They are busted due to the pandemic lockdown, and unlike the Feds, cannot deficit spend.


    Last, Uncle Sam: Huge Congressional spending authorizations have ended; GOP White House is arguing with GOP Senate and DEM House of Reps (to be fair, DEM House of Reps is arguing with GOP Senate, too). Hopefully, all sides recognize that economics should beat politics, given what is at stake economically, and come to terms soon.


    I have to imagine the White House does not want to those deep economic drag continue towards November, and will eventually cut a deal.
    Here is Brookings:

    “The fiscal policy response to the pandemic had a massive impact on GDP growth in the second quarter, boosting it 14.6 percentage points at an annual rate, according to the latest reading of the Hutchins Center Fiscal Impact Measure (FIM)…


    The GDP contracted at an annual rate of 32.9 percent in the quarter, according to the latest government estimates. The FIM illustrates how much worse the decline would have been if not for federal fiscal policy.


    Purchases financed by state and local governments, on the other hand, were a restraint—holding down GDP growth by 6.8 percentage points, as state and local governments shed workers in response to school and office closures and tight budget conditions.
    https://ritholtz.com/2020/08/fiscal-...medium=twitter

  18. #893
    dangerous floater Winehole23's Avatar
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    The 2017 tax cuts mainly got saved by investors and spent on stock buybacks by publicly traded companies. The predicted explosion in jobs, investment and trickle down wealth didn't happen.

    By contrast, direct COVID-19 cash aid to the unemployed and companies got spent and helped the broader economy with a quickness -- an estimated +14% GDP boost in the same fiscal quarter.

    https://www.forbes.com/sites/annemar.../#1cb530f837fb

  19. #894
    Kang Trill Clinton's Avatar
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    smh


  20. #895
    dangerous floater Winehole23's Avatar
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    Small businesses routed in the pandemic

    . “Big companies are going bankrupt at a record pace, but that’s only part of the carnage. By some accounts, small businesses are disappearing by the thousands amid the Covid-19 pandemic, and the drag on the economy from these failures could be huge. This wave of silent failures goes uncounted in part because real-time data on small business is notoriously scarce, and because owners of small firms often have no debt, and thus no need for bankruptcy court. Yelp Inc., the online reviewer, has data showing more than 80,000 permanently shuttered from March 1 to July 25. About 60,000 were local businesses, or firms with fewer than five locations.
    https://www.bloomberg.com/news/artic...ures-uncounted

  21. #896
    Kang Trill Clinton's Avatar
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  22. #897
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    "all sides recognize that economics should beat politics"

    false hope. For Repugs, politics and politicians are above the economy and the law

    I bet Trash/Repugs give a tiny bit fo stimulus to no effect, then roar and boast how they turned the economy around.

    Trash, Repugs expect to win in November with 10%+ unemployment? 20M+ unemployed?



    Last edited by boutons_deux; 08-13-2020 at 05:50 PM.

  23. #898
    dangerous floater Winehole23's Avatar
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    American Airlines comes to Congress, hat in hand.

    The $25 billion AA is asking for to maintain service to 30 smaller US cities is the same amount of money the Dems want to give the USPS, which serves every city and town in the US.

    American Airlines is planning to drop flights to up to 30 smaller U.S. cities if a federal requirement to continue those flights expires at the end of next month, an airline executive familiar with the matter said Thursday.

    American agreed to keep serving those smaller cities as a condition of receiving $5.8 billion in federal payroll help this spring. However, the money and the requirement to serve those destinations both expire Sept. 30 unless they are extended.
    https://abcnews.go.com/Business/wire...ities-72353884

  24. #899
    Damns (Given): 0 Blake's Avatar
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    Is the $250k seriously a real number there?

  25. #900
    dangerous floater Winehole23's Avatar
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    House and Senate adjourn until September.

    This is a self inflicted wound that's likely to make the recession, the recovery and the pandemic worse.

    With the House and Senate essentially closed, and lawmakers on call to return with 24 hours' notice, hopes for a swift compromise have dwindled. Instead, the politics of blame have taken hold, as the parties focus on this month's presidential nominating conventions and lawmakers' own reelection campaigns.


    All indications are talks will not resume in full until Congress resumes in September, despite the mounting coronavirus death toll.
    https://www.wbir.com/article/news/he...2-de3837a38004

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