192
   

monitoring Trump and relevant contemporary events

 
 
blatham
 
  3  
Fri 10 Feb, 2017 02:44 am
For me, this is one of the most depressing aspects of the present situation.
Quote:
Perhaps the most striking thing about the chaotic and exhausting first three weeks of the Trump administration is the degree to which Republicans have held together, placing loyalty above all else. The party of Lincoln has sold its soul — and like all Faustian bargains, this one will not end well.
WP
Walter Hinteler
 
  4  
Fri 10 Feb, 2017 02:45 am
@blatham,
The cat wasn't black. Period.
Or may be just a bit.
Or a bit more.
Dark grey perhaps.
Quote:
Flynn on Wednesday denied that he had discussed sanctions with Kislyak. Asked in an interview whether he had ever done so, he twice said, “No.”

Quote:
On Thursday, Flynn, through his spokesman, backed away from the denial. The spokesman said Flynn “indicated that while he had no recollection of discussing sanctions, he couldn’t be certain that the topic never came up.”
Source
blatham
 
  2  
Fri 10 Feb, 2017 02:52 am
Just looking at photos of the snowstorm that hit the northeast. I think we got them beat. About four feet of snow in the last week (no wind though). Even with the collapsing of the snow with weight, it's still well over my knees. I'd cleaned my car off twice previously (two seater sports car) but it is now completely invisible, just a white bump. We've had to shovel, of course, but I love a snowfall like this one.
blatham
 
  3  
Fri 10 Feb, 2017 02:58 am
@Walter Hinteler,
Trustworthy crowd, this one. A model for America's young people, for sure.
0 Replies
 
blatham
 
  4  
Fri 10 Feb, 2017 03:06 am
According to the Guardian, after the judicial ruling came down, Trump tweeted
Quote:
“SEE YOU IN COURT, THE SECURITY OF OUR NATION IS AT STAKE!”

The standard exclamation mark and all caps. What a dipshit.
0 Replies
 
oralloy
 
  -4  
Fri 10 Feb, 2017 03:16 am
@blatham,
blatham wrote:
Just now digging into the day's news and seeing the 9th Circuit ruling upholding the earlier lower court ruling. Good.

You do realize that this is all about the temporary stay until the case is heard, and is not in any way a ruling on the merits of the case?

No?

I guess there are drawbacks to basing your entire position on pointing at smart people and saying "I think what they think".
0 Replies
 
oralloy
 
  -3  
Fri 10 Feb, 2017 03:17 am
@izzythepush,
izzythepush wrote:
Trump blinked first. I guess someone must have told him about all those US treasury bonds held by the Chinese that could be dumped onto the market junking the dollar in the process.

If China chose to sell their US savings bonds, it would not harm the dollar in any way.

We would just make our interest payments to the new owners of the bonds.
izzythepush
 
  1  
Fri 10 Feb, 2017 03:44 am
@oralloy,
http://www.closeup.de/media/oart_0/oart_b/oart_67738/thumbs/664177_1646785.jpg

Trump will find it very hard raising money for infrastructure if China's bonds are selling at half price.
oralloy
 
  -3  
Fri 10 Feb, 2017 04:41 am
@izzythepush,
izzythepush wrote:
http://www.closeup.de/media/oart_0/oart_b/oart_67738/thumbs/664177_1646785.jpg

You have a new favorite TV show I see.


izzythepush wrote:
Trump will find it very hard raising money for infrastructure if China's bonds are selling at half price.

Not really. We might have to increase interest rates to make our new bonds more desirable than the ones that China would be selling, but we can do that easily. Our banks would actually appreciate the increase in interest rates.

If China is foolish enough to sell some of their holdings at half their value, that'll be a very good deal for someone at China's expense.
layman
 
  -2  
Fri 10 Feb, 2017 04:46 am
@oralloy,
Quote:
If China is foolish enough to sell some of their holdings at half their value, that'll be a very good deal for someone at China's expense.


At that price, Trump would make sure we redeemed them ourselves. We could "pay" for them simply by issuing half that many at the full rate.
oralloy
 
  -3  
Fri 10 Feb, 2017 04:52 am
@layman,
I never thought of that. That would be a pretty good move on our part.
glitterbag
 
  2  
Fri 10 Feb, 2017 05:05 am
I'm stunned..........there are no words
0 Replies
 
Builder
 
  1  
Fri 10 Feb, 2017 05:11 am
@oralloy,
Quote:
That would be a pretty good move on our part.


QE 1 and 2 and 3 and now 4. Fed res now owes itself almost six trillion dollars.

Good thing nobody alive today will have to think about that when the debt "matures". Cool Wink Drunk
0 Replies
 
izzythepush
 
  2  
Fri 10 Feb, 2017 06:06 am
@oralloy,
You would think that, but it's anything but smart. Printing more money results in inflation which results in high interest rates, doubling of America's debt, loss of the petrodollar, mortgage defaults and repossessions.

That's as simple as I can make it, but you still won't get it. I'll leave you to your fool's paradise.

oralloy
 
  -1  
Fri 10 Feb, 2017 07:01 am
@izzythepush,
No one suggested printing more money.

However, since you brought up inflation, if China were to somehow sell a very large amount of their US bonds, they would end up with a large pile of cash and no market large enough to invest it in. That would cause the same sort of inflation that you describe, only in China.

China would not be able to sell nearly as many of their bonds as you might think, so this isn't going to be a problem for them. But if you want to imagine them selling huge numbers of US bonds, that would be one of the many pitfalls that China would face as a result of doing so.

(Also, the so-called "petrodollar" isn't something that anyone in America cares about.)
layman
 
  -3  
Fri 10 Feb, 2017 07:39 am
Not to worry. Trump is just gunna throw the leeches clean out:

Quote:
Groups want Trump to close loophole allowing illegal immigrants to abuse tax credits

Illegal immigrants need only one number to access billions of dollars in free taxpayer cash.

“It’s nothing but a welfare program designed for illegal immigrants. ITINS are for tourists or illegals. No ITIN filer is eligible to work in the United States.”

Numerous investigations by the Treasury Inspector General for Tax Administration have chronicled not only improper Child Tax Credit fraud and error payments ranging from $5.9 billion to $7.1 billion, but schemes such as nearly 24,000 ITIN payments going to the same address.

“There is no policy reason why we should be supporting families who are here illegally.”

http://www.foxnews.com/politics/2017/02/09/groups-want-trump-to-close-loophole-allowing-illegal-immigrants-to-abuse-tax-credits.html

For those asking how Trump is gunna make Mexico pay for the wall, well....

Trump has a lot of experience in just plain stiffing people, but that aint all. He won't NEVER pay somebody for something they aint entitled to.
0 Replies
 
blatham
 
  2  
Fri 10 Feb, 2017 08:50 am
Golly. Who could have predicted this?
Quote:
Being president is harder than Donald Trump thought, according to aides and allies who say that he’s growing increasingly frustrated with the challenges of running the massive federal bureaucracy.

In interviews, nearly two dozen people who’ve spent time with Trump in the three weeks since his inauguration said that his mood has careened between surprise and anger as he’s faced the predictable realities of governing, from congressional delays over his cabinet nominations and legal fights holding up his aggressive initiatives to staff in-fighting and leaks.
Politico

The whole piece is a must-read.
0 Replies
 
ehBeth
 
  3  
Fri 10 Feb, 2017 08:56 am
@blatham,
Five thumbs up.
giujohn
 
  -3  
Fri 10 Feb, 2017 08:58 am
@ehBeth,
Response moderated: Personal attack. See more info.
0 Replies
 
ehBeth
 
  3  
Fri 10 Feb, 2017 08:59 am
@oralloy,
No need for Americans to consider what China will do with a big pile of money. China has plans and has been implementing them nicely for years. It's one of the ways they got the $ to buy American bonds to begin with.
 

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