Calculating
Calculating's JournalWe're far from out of the woods, Trump will try to burn it all down on his way out
I fully expect him to do everything in his power to leave the country as an utterly unfixable wreck so the Republicans can blame joe in two years when it's not fixed. He'll veto any further stimulus and do everything he can to hinder the covid containment effort.
Inside the New Coronavirus Relief Bill: a Total Eviction Moratorium
https://www.bloomberg.com/news/articles/2020-10-03/house-coronavirus-relief-bill-would-ban-evictionsThe $2.2 trillion stimulus package passed by House Democrats includes a complete ban on eviction and foreclosure filings for 12 months.
On Oct. 1, just hours before the first reports of the news that President Donald Trump had tested positive for Covid-19, the U.S. House of Representatives passed a $2.2 trillion coronavirus relief package. Among the elements in the bill: a complete ban on eviction filings over nonpayment. Thats a far stronger action than Congress or the White House has taken previously.
The legislation that Democratic lawmakers passed would prevent landlords from filing evictions for nonpayment for a full year after the bill is passed. It would further prohibit foreclosures over nonpayment over the same period and enact automatic forbearance for delinquent borrowers to address the needs of struggling homeowners.
Now I'm all in favor of helping the poor out and being compassionate, but what exactly are landlords expected to do? My family has two rental properties and this could create some utter nightmares for us if it passes and we get tenants refusing to pay rent with no way to evict them.
What in the world is up with the stock market
It's just rocketing up in a straight vertical line like none of the big problems are real. Valuations on certain companies like Tesla and zoom have gone into the realm of loony toons level craziness. Zoom is valued higher than Boeing? Really? We're headed to fresh all-time highs daily in the middle of the worst economic conditions we've never seen. I'm convinced that chairman Powell is a traitor doing whatever it takes to reelect Trump regardless if the future.
Fresh all-time highs on the Scamdaq
Honestly I can't wait for the extended unemployment to end and for this mother of all bubbles to burst. Never before have I SEEN such a disconnect between the stock market and economy. The tech sector is absolute white hot while the fundamentals of our country have never been worse. It was bad enough having income inequality, but now we have stock inequality as well. It's like 10 tech stocks are all that matters anymore in this country. I mean hey, we can obviously just be a country with everyone is paid to stay home and order stuff off Amazon while watching Netflix and Youtube all day. What could ever go wrong?
Apparently we just needed a pandemic for the best stock market ever
NASDAQ broke 10k today on news of interest rates staying at 0 for years to come, and Tesla now has a bigger market cap than Toyota despite not making any money and selling like 1/50th of the cars. Peak irrational exuberance is here.
Nice to see stocks racing back up like nothing is wrong in the world
Totally doesn't seem rigged in any way. Even the cruise and airline stocks are racing back up like Covid is suddenly not a thing anymore.
Another "respect muh authoritah" incident of police brutality
https://www.youtube.com/watch?time_continue=197&v=T-ClxVj6fzU&feature=emb_logoThere's something seriously wrong with the stock market
The nasdaq is back near record highs on the greatest unemployment since the great depression? Really? I guess all those unemployed people don't matter because they were "the poor" anyway. Just look at jokes like Tesla and Uber, Uber lost 3 billion dollars in a quarter and the stock went up big?
I honestly hate the fed chairman Powell for this mother of all bubbles he's created. It's like the fed have just outright said that the markets will never be allowed to correct again no matter how awful the real economy is. This whole system is so corrupt that it simply all deserves to burn.
This pandemic has really cut through the illusion of our overall prosperity
We had 'record low unemployment' and a shiny stock market which was approaching 30k and setting new records daily. Underneath these things we had a country with a fundamentally rotten foundation. Half of our population living paycheck to paycheck without enough money saved up to cover a few weeks without a job. Stocks that were propped up by tax cuts for the wealthy and stock buybacks enabled by cheap debt. Rampant income inequality which was getting worse by the year, and a generation of students crushed by insurmountable debt. My only hope is that this crisis will lead to a fundamental reevaluation of our society and economic system in the end. The cracks in the system were already there, this crisis just split them open all at once.
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Member since: Fri Jul 1, 2016, 11:57 PMNumber of posts: 2,955