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Re: Squad press conference FULL video [Re: Tulipslave]
    #26113049 -

Tulipslave said:
So, how much money did us taxpayers spend for these asshats to take a day off of potentially real work for them to take a vote "condemning" Trump and the words he used.

As far as i can tell, this was a public/formal hearing to slap him on the wrist. 

What actually, if anything, will this do?


Can i please have my money back? 


This is the most productive house we’ve had in a long time. There have been 482 votes so far this year. The last session saw 500 for the entire year (2018).

https://www.congress.gov/roll-call-votes


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”

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Re: Squad press conference FULL video [Re: Falcon91Wolvrn03] * 1
    #26113419 -

Falcon91Wolvrn03 said:
qman said:
split_by_nine said:
qman said:
She just had an open floor to question Federal Reserve Chair Powell last week.

Powell is technically one of the most powerful men in the world when it comes to monetary/economic policy. It was her chance to drill him on monetary policy, instead she played like a good little girl with rehearsed softball questions. She's a political tool and nothing more.


not every hearing has to result in drilling into someone. you call her weak because she didnt cut the guys throat.


There's plenty of tough questions to ask Powell in that hearing and one doesn't have to go for the kill. She did what was in the best interest of AOC, and that was playing ball.


What specifically should she have "drilled him on"???  I personally don't know what Powell has done wrong?  :shrug:


Why are you going to cut interest cuts which essentially benefits the very wealthy when unemployment is technically at an all-time low and the stock markets/real estate markets are at all-time highs?

That could just be the start of some very critical questions, because something doesn't really add up here at all.

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Re: Squad press conference FULL video [Re: qman] * 1
    #26113441 -

How exactly do low interest rates benefit the rich? Think about what you’re saying


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”

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Re: Squad press conference FULL video [Re: koods]
    #26113462 -

koods said:
How exactly do low interest rates benefit the rich? Think about what you’re saying


Seriously, after a decade of ultra low interest rates and you even have to ask that question?

To be fair to Powell, the markets and economic conditions through fiscal policy dictate the direction of interest rates, not the Central Banks.  Powell didn't bring down the 10 year bond from 3.25% to 2% in 9 months, the market did. Now Powell has been given the green light to cut rates, as we are likely to head back to 0%.

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Re: Squad press conference FULL video [Re: qman] * 1
    #26113594 -

Quote:
Seriously, after a decade of ultra low interest rates and you even have to ask that question?


That’s not an answer.



Income inequality rose the fastest between 1980 and 2000. A period corresponding to historically high interest rates. The relatively low interest rates seen in the 2000s corresponds with less rapid growth in inequality.

The fact is low interest rates makes credit cheaper, which is a benefit to lower income people who do not have savings and need to use credit to build wealth. Higher interest rates makes credit more expensive and benefits people who have wealth and earn interest on that wealth. It’s kinda a no brainer, and I’m wondering why your understanding of basic economics is so terrible.

But in the real world, there are far more important reasons explaining the wealth gap.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”

Edited by koods (07/17/19 09:48 AM)

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Re: Squad press conference FULL video [Re: koods]
    #26113668 -

I think your chart kind of makes my point, when did the bull market in bonds begin?  1980.

You do realize that the working class peasants don't always have access to credit?  And if they do, they don't always have access to low rates (student debt, credit card debt)?

I'm not stating low interest rates are the main cause for the inequality, but it plays at least one part of the total puzzle. Obviously, deflationary policies (global trade and immigration) bring interest rates lower and create the inequality as well.

Also, if the 1% use the vast majority of the credit from the low interest rates, then who benefits the most? 

Edited by qman (07/17/19 10:26 AM)

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Re: Squad press conference FULL video [Re: qman] * 1
    #26114062 -

The 1% are the ones making the loans

Mortgages are probably the most obvious example of credit that is much more in reach to low income people when rates are low. Mortgage rates are tied very closely to the fed rate.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”

Edited by koods (07/17/19 01:09 PM)

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Re: Squad press conference FULL video [Re: koods]
    #26114071 -

I think he's saying what if the 1% use the vast majority of the loan options with low interest rates.

I've never seen any analysis of what percentage of loans go to which classes the most.


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"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found

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Re: Squad press conference FULL video [Re: koods]
    #26114344 -

That’s true, but you still need a 30% down payment for that mortgage depending on your credit rating and all the rest. With ultra low interest rates saving is disincentivized because you won’t make any money from interest on it. Not only that but it will get eaten away with inflation.  I think our incentive structure is completely upside down right now and saving should be encouraged more than cheap credit. Especially if the Fed is printing the value of everyone’s money into oblivion.

Credit and debt is a wonderful tool for those that are educated. Like any other tool without proper education or training you can easily hurt yourself with it. I think the school system should teach accounting and financing as part of their core curriculum as well as the differences between assets and liabilities rather than just dropping a 401k onto everyone and hoping there isn’t a market crash when they are about to retire.


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"With the first link, the chain is forged. The first speech censured, the first thought forbidden, the first freedom denied, chains us all irrevocably."

Judge Aaron Satie

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Re: Squad press conference FULL video [Re: vault123]
    #26114364 -

It is herd mentality.  That's what drives these big moves.


--------------------
"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found

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Re: Squad press conference FULL video [Re: Morel Guy]
    #26114372 -

Remember we’ve only been off the gold standard since 1971. I think we should go back onto the gold standard. That was at least something tangible that anchored the dollar. Without any anchor now they can just print the shit out of it. I saw the chart earlier but without looking back to see what happened to wealth inequality after 1971? After we went off the gold standard.


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"With the first link, the chain is forged. The first speech censured, the first thought forbidden, the first freedom denied, chains us all irrevocably."

Judge Aaron Satie

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Re: Squad press conference FULL video [Re: vault123]
    #26114455 -

Oh sorry I just looked back at it that wasn’t wealth that was I come. Still, I think a gold standard would help the lower income more because the 1% always end up getting the first cut of the newly printed money. There’s a long history of empires going off of the gold standard and it hasn’t ended well for any of them. Crypto also adds a whole new variable to the equation as well.


--------------------
"With the first link, the chain is forged. The first speech censured, the first thought forbidden, the first freedom denied, chains us all irrevocably."

Judge Aaron Satie

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Re: Squad press conference FULL video [Re: vault123] * 1
    #26114503 -

If you have a problem with a dollar off the gold standard why the fuck would you have any interest in cryptos? Talk about not being backed by anything.


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NotSheekle said
“if I believed she was 16 I would become unattracted to her”

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Re: Squad press conference FULL video [Re: koods]
    #26114516 -

I never said that I did. I just said it throws a whole new variable into the equation. Like it or not it doesn’t appear to be going anywhere.


--------------------
"With the first link, the chain is forged. The first speech censured, the first thought forbidden, the first freedom denied, chains us all irrevocably."

Judge Aaron Satie

Extras: Filter Print Post Top
Re: Squad press conference FULL video [Re: koods]
    #26114531 -

It's backed by byte ownership.  Pretty much a lot of the world, is becoming owning bytes of information.

Trump wants to weaken the dollar.  This is what I read. There's been other news stories about the burger equation and weakening the dollar.

They say the dollar is too strong.  Thing is I think it's inflated.


--------------------
"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found

Extras: Filter Print Post Top
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