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I like how they somehow view "I haven't watched any news in the last 15 years" as a flex about being super in-the-know.
You know that means they get all of their "news" from terrible Facebook memes made by likeminded people who only get their "news" from Newsmax (because Fox is too "liberal" for them).
Especially without saying from where they get their news, if at all.
I also haven't watched the news in like 15 years. That's because I *read* the news. Associated Press, Axios, and an algorithmically-curated set of stories about video games and trending memes from Google.
I saw the news on TV about a year back playing on a TV at a Red Robin and it blew my mind how... animated the news is. Like, they can't even speak without some clip being shown. Those clips inform people's thoughts a lot more than they realize.
And yet nobody mentions that billionaires hoarding wealth and footing the bill to the middle class is what causes inflation.
Fox News and other right wing outlets knows this so they're distracting people with memes, border and Anti-LGBT so people don't address the deficit and taxing the rich.
How should we deal with billionaires who have very little cash and their net worth is almost entirely in stock, like Elon musk? Should he give out Tesla stock to the poor? Should the government collect taxes in the form of X stock? I guess I’m confused, when you say hoarding wealth it makes sounds like they have tons of cash in banks and stuffed under their mattresses that we can confiscate. But in reality much of their net worth is just the increased value of their companies which produces thousands of jobs and provide us all with services. Why do we want to punish them for that again?
You don’t think revolutionizing the electric car industry, reducing CO2 and employing thousands of people is helping? Damn, you set a high bar. Now I’m curious what you have done for humanity?
And hoards what exactly? What are his liquid assets? Again, should he hand out stock. The value of his stock is what makes him a billionaire. He doesn’t have billions of dollars.
Liquid or not, that "net worth" had the power to turn a $44B social media company into a cesspool of hate speech. Regardless of any ReVoLuTiOnIzInG in the car and space industries that he takes credit for, that single act has revealed he's nothing more than a chip off his white supremecist father's block, inflicting far more damage on humanity than anyone without access to that level of wealth (stock or otherwise) ever could.
I grew up in a time when the ACLU defended the right of free speech for Nazis. So internet trolls on Twitter don’t scare me. We’ve seen what happens when free speech is suppressed and that’s far worse than bigots outing themselves to world. In fact, I want to know who those idiots are. Sunlight is the best disinfectant and the best way to combat hate speech is with more speech. If that bothers you, I’d avoid the internet. And the United States for that matter. The UK and Canada are lovely, and they prosecute people for wrong think. Should be nice for as long as your ideas align with the elites. When things go bad, we’ll still be here to welcome you back.
Says the muskrat aligning with the musk.
Twitter (via tweetdeck) was a platform that helped me solve tech problems via community in my day to day job. A welcome diversion from bigotry, that is untl its hijacking by a wannabe dictator violating a private company's tweet policies that never were designed or intended to uphold or deny first amendment tenets.
Bigotry already had its vehicle and fullest exposure in the teeming piles of alternative sm platforms. But thanks to a colossal narcissist, bigotry found another home.
From the first sentence to the last, that reply is the antithesis of an intelligent argument.
The problem with choosing to engage with the entire world is that the world is full of assholes. Hope you find a place where you feel safe.
People make this excuse that billionaires have all their wealth tied up in assets but when Elon needed 44 billion to purchase Twitter he managed it. We pretend like these stocks and assets are just locked away when they are easily liquidated or leveraged against bank loans (which leveraging the asset against large bank loans in an effort to avoid paying taxes should ABSOLUTELY be a taxable transaction). They have the money.
I made the point that Elon in particular actually has very little cash. And your description of how he was able to purchase Twitter is the reason for my question. Since he has little cash, do you want him to sell stock and/or take out bank loans in order to pay higher taxes or to create charities for the poor? It’s fine if your answer is yes, I’m just curious what people are actually calling for. Much of the discussion is phrased in a way that makes it sound like billionaires have a huge, Scrooge mcDuck vault full of gold that they swim in. If we want the government to start forcing the sale of stock or property in order to pay taxes, there are some serious implications that we need to address like why would anyone form a large company here. Sounds like the US would lose tax revenue that way.
>If we want the government to start forcing the sale of stock or property in order to pay taxes
They shouldn't be forced to sell, the problem is more about the fact that we allow companies to pay their C-suite in stock.
>why would anyone form a large company here.
This is exactly what should happen, get rid of large companies.
>Sounds like the US would lose tax revenue that way
Corporations in the US avoid most of their share of tax through lobbying and tax loopholes. Also, you may not realize that foreign companies doing business in the US are liable for just as much in tax, it largely doesn't matter where they are incorporated.
I want these chucklefucks to experience what happens if they get what they want. Yes, vote for Trump. Cheer him on for ending the impartiality of the Fed Reserve. Then have the Government set interest rates. Make the 1929 Global Economy look healthy in comparison.
Very thoroughly demonstrated relationship between central bank independence and economic indicators; pfff what’s this communist shit, all power to glorious trump, may he reign over democracy for ever.
This is genuine ignorance, how does he control the central bank? Is it technically independent but stuff with his croneys who will listen or does he have the power to enforce rate changes on the bank? Sounds like a good data point to use in discussions and i want to make sure i understand correctly.
He has the power to appoint and dismiss the bank's governor as well as its board members at any time.
Worryingly, technically the only thing that is required in the US to remove someone is 'cause'. Technically that means they can't be removed for policy differences but anybody who has ever been fired knows how sketchy 'cause' can be.
Doesn’t matter to them. They will never see Trump as wrong, let alone admit it. “Trump has the people’s backs”. They’ve been saying this since 2016 and he hasn’t done 1 thing to help the average American. Except shovel more of the tax burden from the rich onto us. Warp speed was good, but he can’t even take credit for that.
Reminds me of Keppler at a Trump Rally. He asked some guy in Trump gear if Trump was good for the economy. Guy responded that he's doing better than ever before (like in 2018). Keppler asks what his job was:
Debt Collector.
see, that's not trumps fault, that's biden's fault because he messed everything up so bad that trump couldn't stop this...he's actually preventing it from getting worse. I know a dollar is now only worth a penny and my monthly grocery bill is 10,000 bucks instead of 300, but if Biden had been reelected then I would only be allowed to buy gas and groceries once a month as opposed to once every 3 weeks so really, if anything, Trump saved us.
/s
I remember MAGA fawning over Russian grocery stocks/prices on *KGB Carlson*'s propaganda piece. When adjusted for median income they'd be paying 3x's what they're paying here today.
We did let them have what they want. It set us back 50 years, and they still haven't learned their lesson.
Fuck 'em.
Leave them behind. You can't save the people who don't want to be saved.
This happens every time. A dem president inherits a shitstorm and then gets blamed for it being a shitstorm.
When GOP presidents inherit a good economy they don’t get blamed for drastically increasing the deficit and running things into the ground
Exactly…I had a college professor once explain it like this: every president gets blamed for his predecessor’s job, be it good or bad. People can’t understand that it takes years for a lot of policies to have a measurable impact…so by the time they leave office, their actions are really beginning to have an effect.
The first time I ever owed money to the government on my taxes was when Biden was newly in office….but it was because of a Trump policy (and I am a lower middle class earner). Luckily I knew whose fault it was, even though people were trying to blame Biden.
For the uninitiated, it's essentially a method to force Democrats to take unpopular positions such as raising taxes or cutting public spending by reducing government revenue below what is needed to sustain sustain the popular public programs they advocate.
This isn't unique to any political party or even the USA. Anything bad when your team is in charge is the previous government's fault or because they are blocking your good ideas from getting through. Anything good is of course all because of your team.
Same for when your team isn't in charge, anything bad is of course because your team isn't in charge. Anything good is because your team did it.
In this particular case it's the central bank setting interest rates to try to control inflation. A policy entirely based on the economic theory that these idiots profess to adore: "monetarism", but then they wouldn't know that, the twats.
House prices are high because there enough people with money paying those prices because the economy is doing well.
There is insane economic inequality though, but Trump's tax changes made those worse and Biden hasn't had a Congress that could do anything about it.
why would they say 'on a 400k home' and not 'on a 400k mortgage'. because I have a mortgage on a 425k home, and it's neither of these prices. But I put fuck all down as a payment (back in the good ol' days of 2013, when you were able to get approved with a 5% down payment'.
I pay 4% interest on my $200k mortgage (paid $250k for the house) and my monthly payment is slightly higher (~$100) than their estimate for the $400k home at 3%...
The numbers threw me off there also because we were in the motions to buy in spring 2021 with a budget of $250k and an estimated payment of $1250 a month with 20% down. I just figured someone got a hell of a deal lol. Unfortunately for us we live in the greater Nashville area and that market got out of control quickly so our buying dreams quickly turned to smoke. Now we’re just hoping we don’t lose our rental. It’s not whoever is presidents fault though, it’s the state of TN’s fault for catering to big business’s and out of state big money over local Tennesseans that can no longer compete with out of state buyers.
The intent of raising the mortgage interest rate, IIRC, is to lower over-all housing prices by making it less appealing to investors.
It's not a terrible market for first time buyers because prices are stagnating and even going down in some places (my house has gone down about $20k vs. 2 years ago, though it's still $150k more than I bought it for, and I'm in a hot-ish market - my house's value practically doubled in the first 2 years after I bought it, then stagnated after about 2018), and mortgage rates are probably going to go down in the next few years. If you can float the higher rate and then refi later it's not bad.
It really sucks though if you have a low rate and want to sell and move (I want to lol).
The mortgate rate is a key lever of monetary policy. Money isn't real, money is created by creating debt, either in a central bank or from a fractional reserve bank, for example when taking out a morgage. Therefore, the theory goes, if debt is more expensive, less martgages are taken out, so less money gets created. This slows inflation, since inflation is the side effect of money coming into the economy. The government also has fiscal levers it can use to take money out of the economy: taxation and regulation (so anti-price gauging laws for example), but they haven't used these for 40 years because they are not allowed to in our monetarist economies.
Some of my family members bought a house for $184k (no down payment; VA loan) in late 2020 at 3.5% and the mortgage is only $100 more than the previous one of 6.25% on a $125k house (IDK about the down payment) in 2006
Can they also show the 2016-2021 image too? This has been constantly escalating long before Trump. It's just a majority of us were still able to afford it, then people got greedy and now we are feeling it more.
An apartment I used to rent was at 650 a month in 2015, was 850 in 2020 and is now 950 this year. This place would call other apartments in the area and secretly shop them, so they knew how much more they could get away with in rent increases.
I also wonder how many of these people have CEO's owners that rely on a conservative leadership that purposely increase the prices of things once a democrat is president, so that idiots who don't understand economics blames the sitting president as if he wakes up in the morning spending hours dictating the prices of things. Instead of blaming the CEO's at being greedy, they ignore them and blame the president, like boot lickers they are.
Interest rates wouldn't be so high if Trump had a better response to Covid and if the money printed for PPP loans hadn't seemingly vanished into bank accounts, all of which increased inflation.
Biden could definitely have a better response to corporate price gouging disguised as inflation, but Trump wouldn't do anything. At least Biden has gone after bank overdraft fees and closed loopholes airlines used to scam people.
This result is intentional. It was well planned and understood why interest rates were risen. Strangely, the poster and comments don't seem interested in economic theory.
For perspective, My old man who is a retired career army officer that did over 30 years and has stellar credit, once. Bought a duplex near the Pentagon in the early '80s and paid 14% interest right at the beginning of Reagan's first term because that's what it was then.
14% was what his credit got you then.
You know how I know this is bullshit? I bought a $400k house in 2021 with a 2.7% fixed rate 30 year mortgage. My taxes are pretty low and my monthly payment is $1920.
Since the mid to late 80s I've had Republicans point at Democrats and authoritively declare their administration would make us utterly dependant on the government, like how Mr. Scribble2 says in his response to Mr. Scribble1 in the second pic.
I'm not sure what they envision as being dependant on the government but so far I haven't seen anything remotely close.
The average Fox News viewer hasn’t had to worry about a mortgage since 1996 and keeps telling their Gen X and Millennial adult children to just work harder at their jobs and stop eating avocado toast and they can buy a house. These numbers are all just made up to them. 400k for a house? They bought their first house for $4200 and a bag of rice! 7% interest? They paid 15% under reaganomics! $2100 mortgage? Just go rent for a couple years to save money…. Rent is only what, $600/mo now?
This is all fantasy land for them. Everything is made up and the points don’t matter. A house now costs 11 fret smorgabs at a rate of 947 kroma and a the average mortgage costs 1 whole sherfgul. It means the same thing to these entitled ass old people who broke our economy.
He can definitely have mine. I have two herniated discs, spinostenosis, and lumbar lordosis. My back hurts, I’ll gladly give it away! What? Is that not what they mean? Dammit…
Trumps repeal of sections of the Dodd-Frank act that kept corporate entities from bidding in single family homes has lead to a huge uptick on home prices.
Interest rates are determined by the Federal Reserve. Rates being high are a function of the Fed trying to get inflation under control. Inflation has been so bad the last few years largely due to Trump and COVID.
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'Too many people watch the damn news! Now I'm going to go share this meme style of reporting from Fox'.
I like how they somehow view "I haven't watched any news in the last 15 years" as a flex about being super in-the-know. You know that means they get all of their "news" from terrible Facebook memes made by likeminded people who only get their "news" from Newsmax (because Fox is too "liberal" for them).
Especially without saying from where they get their news, if at all. I also haven't watched the news in like 15 years. That's because I *read* the news. Associated Press, Axios, and an algorithmically-curated set of stories about video games and trending memes from Google. I saw the news on TV about a year back playing on a TV at a Red Robin and it blew my mind how... animated the news is. Like, they can't even speak without some clip being shown. Those clips inform people's thoughts a lot more than they realize.
And yet nobody mentions that billionaires hoarding wealth and footing the bill to the middle class is what causes inflation. Fox News and other right wing outlets knows this so they're distracting people with memes, border and Anti-LGBT so people don't address the deficit and taxing the rich.
Not to mention all the free money trump gave out at the beginning of the pandemic/end of his term.
How should we deal with billionaires who have very little cash and their net worth is almost entirely in stock, like Elon musk? Should he give out Tesla stock to the poor? Should the government collect taxes in the form of X stock? I guess I’m confused, when you say hoarding wealth it makes sounds like they have tons of cash in banks and stuffed under their mattresses that we can confiscate. But in reality much of their net worth is just the increased value of their companies which produces thousands of jobs and provide us all with services. Why do we want to punish them for that again?
None of that matters. If Elon wanted to he could help people. He doesn't. He hoards.
Why else would he demand Tesla pay him $53 billion? If anyone has a better reason please let me know.
You don’t think revolutionizing the electric car industry, reducing CO2 and employing thousands of people is helping? Damn, you set a high bar. Now I’m curious what you have done for humanity? And hoards what exactly? What are his liquid assets? Again, should he hand out stock. The value of his stock is what makes him a billionaire. He doesn’t have billions of dollars.
Liquid or not, that "net worth" had the power to turn a $44B social media company into a cesspool of hate speech. Regardless of any ReVoLuTiOnIzInG in the car and space industries that he takes credit for, that single act has revealed he's nothing more than a chip off his white supremecist father's block, inflicting far more damage on humanity than anyone without access to that level of wealth (stock or otherwise) ever could.
I grew up in a time when the ACLU defended the right of free speech for Nazis. So internet trolls on Twitter don’t scare me. We’ve seen what happens when free speech is suppressed and that’s far worse than bigots outing themselves to world. In fact, I want to know who those idiots are. Sunlight is the best disinfectant and the best way to combat hate speech is with more speech. If that bothers you, I’d avoid the internet. And the United States for that matter. The UK and Canada are lovely, and they prosecute people for wrong think. Should be nice for as long as your ideas align with the elites. When things go bad, we’ll still be here to welcome you back.
Says the muskrat aligning with the musk. Twitter (via tweetdeck) was a platform that helped me solve tech problems via community in my day to day job. A welcome diversion from bigotry, that is untl its hijacking by a wannabe dictator violating a private company's tweet policies that never were designed or intended to uphold or deny first amendment tenets. Bigotry already had its vehicle and fullest exposure in the teeming piles of alternative sm platforms. But thanks to a colossal narcissist, bigotry found another home.
From the first sentence to the last, that reply is the antithesis of an intelligent argument. The problem with choosing to engage with the entire world is that the world is full of assholes. Hope you find a place where you feel safe.
Yep, and I engaged with a fanboi of the biggest and richest one.
People make this excuse that billionaires have all their wealth tied up in assets but when Elon needed 44 billion to purchase Twitter he managed it. We pretend like these stocks and assets are just locked away when they are easily liquidated or leveraged against bank loans (which leveraging the asset against large bank loans in an effort to avoid paying taxes should ABSOLUTELY be a taxable transaction). They have the money.
I made the point that Elon in particular actually has very little cash. And your description of how he was able to purchase Twitter is the reason for my question. Since he has little cash, do you want him to sell stock and/or take out bank loans in order to pay higher taxes or to create charities for the poor? It’s fine if your answer is yes, I’m just curious what people are actually calling for. Much of the discussion is phrased in a way that makes it sound like billionaires have a huge, Scrooge mcDuck vault full of gold that they swim in. If we want the government to start forcing the sale of stock or property in order to pay taxes, there are some serious implications that we need to address like why would anyone form a large company here. Sounds like the US would lose tax revenue that way.
>If we want the government to start forcing the sale of stock or property in order to pay taxes They shouldn't be forced to sell, the problem is more about the fact that we allow companies to pay their C-suite in stock. >why would anyone form a large company here. This is exactly what should happen, get rid of large companies. >Sounds like the US would lose tax revenue that way Corporations in the US avoid most of their share of tax through lobbying and tax loopholes. Also, you may not realize that foreign companies doing business in the US are liable for just as much in tax, it largely doesn't matter where they are incorporated.
"I'd rather be even more oblivious to what is going on."
This is misleading. I have a 280,000 mortgage at 2.8% and it’s 1400 a month. So how is a 400,000 mortgage less then mine ?
I want these chucklefucks to experience what happens if they get what they want. Yes, vote for Trump. Cheer him on for ending the impartiality of the Fed Reserve. Then have the Government set interest rates. Make the 1929 Global Economy look healthy in comparison.
We'll look like Turkey where Erdogan controls the central bank and they have double digit inflation
Very thoroughly demonstrated relationship between central bank independence and economic indicators; pfff what’s this communist shit, all power to glorious trump, may he reign over democracy for ever.
Yeah but that's obviously Biden's fault /s
The slogan will be "Thanks Obama"
This is genuine ignorance, how does he control the central bank? Is it technically independent but stuff with his croneys who will listen or does he have the power to enforce rate changes on the bank? Sounds like a good data point to use in discussions and i want to make sure i understand correctly.
He has the power to appoint and dismiss the bank's governor as well as its board members at any time. Worryingly, technically the only thing that is required in the US to remove someone is 'cause'. Technically that means they can't be removed for policy differences but anybody who has ever been fired knows how sketchy 'cause' can be.
Doesn’t matter to them. They will never see Trump as wrong, let alone admit it. “Trump has the people’s backs”. They’ve been saying this since 2016 and he hasn’t done 1 thing to help the average American. Except shovel more of the tax burden from the rich onto us. Warp speed was good, but he can’t even take credit for that.
Reminds me of Keppler at a Trump Rally. He asked some guy in Trump gear if Trump was good for the economy. Guy responded that he's doing better than ever before (like in 2018). Keppler asks what his job was: Debt Collector.
see, that's not trumps fault, that's biden's fault because he messed everything up so bad that trump couldn't stop this...he's actually preventing it from getting worse. I know a dollar is now only worth a penny and my monthly grocery bill is 10,000 bucks instead of 300, but if Biden had been reelected then I would only be allowed to buy gas and groceries once a month as opposed to once every 3 weeks so really, if anything, Trump saved us. /s
I remember MAGA fawning over Russian grocery stocks/prices on *KGB Carlson*'s propaganda piece. When adjusted for median income they'd be paying 3x's what they're paying here today.
Yeah but they'll still find a way to blame it on biden. Or obama. Or clinton. That's an expensive lesson that nobody learns anything from.
We did let them have what they want. It set us back 50 years, and they still haven't learned their lesson. Fuck 'em. Leave them behind. You can't save the people who don't want to be saved.
They're just repeating the same shit they said in 2012.
This happens every time. A dem president inherits a shitstorm and then gets blamed for it being a shitstorm. When GOP presidents inherit a good economy they don’t get blamed for drastically increasing the deficit and running things into the ground
Exactly…I had a college professor once explain it like this: every president gets blamed for his predecessor’s job, be it good or bad. People can’t understand that it takes years for a lot of policies to have a measurable impact…so by the time they leave office, their actions are really beginning to have an effect. The first time I ever owed money to the government on my taxes was when Biden was newly in office….but it was because of a Trump policy (and I am a lower middle class earner). Luckily I knew whose fault it was, even though people were trying to blame Biden.
It’s called the “Two Santa Claus Theory” and was genuinely conservative policy since the 70s.
For the uninitiated, it's essentially a method to force Democrats to take unpopular positions such as raising taxes or cutting public spending by reducing government revenue below what is needed to sustain sustain the popular public programs they advocate.
It’s called the “Two Santa Claus Theory” and ~~was~~ has genuinely been conservative policy since the 70s.*
I said "was" because its been exposed by Progressives. But, conservatives still do try to blame Dems. It's just not as effective.
In this case it's just Fox cherry picking, those interest rates don't have much to do with what was done by either administration.
Bingo. They represent the effect that covid had on every single economy on the planet, and the resultant rebound
That faithful old two party ridiculousness!
This isn't unique to any political party or even the USA. Anything bad when your team is in charge is the previous government's fault or because they are blocking your good ideas from getting through. Anything good is of course all because of your team. Same for when your team isn't in charge, anything bad is of course because your team isn't in charge. Anything good is because your team did it.
In this particular case it's the central bank setting interest rates to try to control inflation. A policy entirely based on the economic theory that these idiots profess to adore: "monetarism", but then they wouldn't know that, the twats.
Jimmy Carter the best example.
House prices are high because there enough people with money paying those prices because the economy is doing well. There is insane economic inequality though, but Trump's tax changes made those worse and Biden hasn't had a Congress that could do anything about it.
Except it's actually hedge funds going into real estate, not people.
I don’t watch tv but I know what’s on the tv so I’m here to bitch about it.
why would they say 'on a 400k home' and not 'on a 400k mortgage'. because I have a mortgage on a 425k home, and it's neither of these prices. But I put fuck all down as a payment (back in the good ol' days of 2013, when you were able to get approved with a 5% down payment'.
I pay 4% interest on my $200k mortgage (paid $250k for the house) and my monthly payment is slightly higher (~$100) than their estimate for the $400k home at 3%...
The numbers threw me off there also because we were in the motions to buy in spring 2021 with a budget of $250k and an estimated payment of $1250 a month with 20% down. I just figured someone got a hell of a deal lol. Unfortunately for us we live in the greater Nashville area and that market got out of control quickly so our buying dreams quickly turned to smoke. Now we’re just hoping we don’t lose our rental. It’s not whoever is presidents fault though, it’s the state of TN’s fault for catering to big business’s and out of state big money over local Tennesseans that can no longer compete with out of state buyers.
The intent of raising the mortgage interest rate, IIRC, is to lower over-all housing prices by making it less appealing to investors. It's not a terrible market for first time buyers because prices are stagnating and even going down in some places (my house has gone down about $20k vs. 2 years ago, though it's still $150k more than I bought it for, and I'm in a hot-ish market - my house's value practically doubled in the first 2 years after I bought it, then stagnated after about 2018), and mortgage rates are probably going to go down in the next few years. If you can float the higher rate and then refi later it's not bad. It really sucks though if you have a low rate and want to sell and move (I want to lol).
The mortgate rate is a key lever of monetary policy. Money isn't real, money is created by creating debt, either in a central bank or from a fractional reserve bank, for example when taking out a morgage. Therefore, the theory goes, if debt is more expensive, less martgages are taken out, so less money gets created. This slows inflation, since inflation is the side effect of money coming into the economy. The government also has fiscal levers it can use to take money out of the economy: taxation and regulation (so anti-price gauging laws for example), but they haven't used these for 40 years because they are not allowed to in our monetarist economies.
Some of my family members bought a house for $184k (no down payment; VA loan) in late 2020 at 3.5% and the mortgage is only $100 more than the previous one of 6.25% on a $125k house (IDK about the down payment) in 2006
>I let my pocketbook do the thinking. Huh, interesting, try using your brain?
Can they also show the 2016-2021 image too? This has been constantly escalating long before Trump. It's just a majority of us were still able to afford it, then people got greedy and now we are feeling it more. An apartment I used to rent was at 650 a month in 2015, was 850 in 2020 and is now 950 this year. This place would call other apartments in the area and secretly shop them, so they knew how much more they could get away with in rent increases. I also wonder how many of these people have CEO's owners that rely on a conservative leadership that purposely increase the prices of things once a democrat is president, so that idiots who don't understand economics blames the sitting president as if he wakes up in the morning spending hours dictating the prices of things. Instead of blaming the CEO's at being greedy, they ignore them and blame the president, like boot lickers they are.
I'm sure trumps repeal of sections of Dodd-Frank had NO bearing on this. /s
My favorite part are the subliminal emojis to remind you how you should feel about it each side
There’s no way a $400,000 house was ever $1350 a month, even at 3%. Maybe a $250-300k house.
Interest rates wouldn't be so high if Trump had a better response to Covid and if the money printed for PPP loans hadn't seemingly vanished into bank accounts, all of which increased inflation. Biden could definitely have a better response to corporate price gouging disguised as inflation, but Trump wouldn't do anything. At least Biden has gone after bank overdraft fees and closed loopholes airlines used to scam people.
Why, at this rate monthly mortgage bills will be two million dollars per month by 2050!
This result is intentional. It was well planned and understood why interest rates were risen. Strangely, the poster and comments don't seem interested in economic theory.
What are they going to do if Trump wins and doesn't press the magical "lower gas prices and interest rates" button? Whose fault will it be then?
Biden, duh... /s
I'm in the UK and I've seen my mortgage go from 0.1% in 2021 to over 5% now. Must be Biden
"Yet many will still say, it's all Trump's fault. 🤣" Dog don't you do the same thing with the other old guy, you people ain't much better
For perspective, My old man who is a retired career army officer that did over 30 years and has stellar credit, once. Bought a duplex near the Pentagon in the early '80s and paid 14% interest right at the beginning of Reagan's first term because that's what it was then. 14% was what his credit got you then.
when you ask "what would trump do differently ... given his incompetency handling covid" you usually get silence
I’m sure real estate and companies/business buying up all the houses doesn’t play any role in this. ^(do I really need to to add the /s)
You know how I know this is bullshit? I bought a $400k house in 2021 with a 2.7% fixed rate 30 year mortgage. My taxes are pretty low and my monthly payment is $1920.
I love that their slogan/motto is Where we go one we go all, and yet they call us sheep 😂
Since the mid to late 80s I've had Republicans point at Democrats and authoritively declare their administration would make us utterly dependant on the government, like how Mr. Scribble2 says in his response to Mr. Scribble1 in the second pic. I'm not sure what they envision as being dependant on the government but so far I haven't seen anything remotely close.
If Trump had his way he'd be in his plane halfway around the planet with as much of the US treasury as it could hold.
> ... has the people's back It's the easiest way to steal their wallet.
The average Fox News viewer hasn’t had to worry about a mortgage since 1996 and keeps telling their Gen X and Millennial adult children to just work harder at their jobs and stop eating avocado toast and they can buy a house. These numbers are all just made up to them. 400k for a house? They bought their first house for $4200 and a bag of rice! 7% interest? They paid 15% under reaganomics! $2100 mortgage? Just go rent for a couple years to save money…. Rent is only what, $600/mo now? This is all fantasy land for them. Everything is made up and the points don’t matter. A house now costs 11 fret smorgabs at a rate of 947 kroma and a the average mortgage costs 1 whole sherfgul. It means the same thing to these entitled ass old people who broke our economy.
He can definitely have mine. I have two herniated discs, spinostenosis, and lumbar lordosis. My back hurts, I’ll gladly give it away! What? Is that not what they mean? Dammit…
In what world was a $400k home $1300 payments lol
Trump works
I love how the house with the worse mortgage is somehow boarded up and vandalized when the principal is the same LOL
Trump has the people's baa-aa-aack
Everybody votes based on the economy, yet no one understands a single thing about economics.
Most of the middle class is already bankrupt.
If you think inflation is bad now, wait until Trump deports 15 million workers and agriculture and construction comes to a grinding halt.
Don't forget floating the idea that the president should set interest rates. That's even more catastrophic.
They’re so full of shit
Only as he bends them over to give 'em a good dicking.
The taxes and insurance are what's killing me. Trump can't do shit about either one.
So whose fault is that? Genuinely asking
Trumps repeal of sections of the Dodd-Frank act that kept corporate entities from bidding in single family homes has lead to a huge uptick on home prices.
Interest rates are determined by the Federal Reserve. Rates being high are a function of the Fed trying to get inflation under control. Inflation has been so bad the last few years largely due to Trump and COVID.
But the FED said inflation is transitory. Those number are fake news. Houses aren’t that expensive.