What has Trump done now?

[nomadpete]

Come the revolution....

 

the enablers will rule the world. We might have more to worry about than the price of diesel.

[kgwilson]

History has a way of repeating itself. The super rich don't need all of their wealth but are addicted to it. Their downfall over time is well documented in almost all European countries & Russia. The British seemingly were the only lot that saw the writing on the wall & it began with the Magna carta in 1215 but even that didn't stop the ultra rich either and the English civil war in the 1600s.

[red750]

Heard Donald's latest brainfart?  If the Republicans are returned to the House and the Senate in the mid-terms, he will pay every adult American citizen $5000.

[nomadpete]

4 hours ago, red750 said:

Heard Donald's latest brainfart?  If the Republicans are returned to the House and the Senate in the mid-terms, he will pay every adult American citizen $5000.

Well it can't be called a bribe, can it? Everyone knows he won't actually pay up.

[nomadpete]

Let's see, about 200 million adults x $5 = a billion dollars. (less if Palantir gives him the names of those voting Republican).

 

 

Did he mention where he intends to find that moolah?

[Jerry_Atrick]

Nope..

 

It is c. 245m adults x $5k = c. $1.33tn. 

 

On the assumption he would follow through (apparently, previously promised money including DOGE cheques for those who effectively took voluntary redundancy haven't been paid - but I have not researched it so it could just be a rumour), and assume it would take around 3 months to permeate through the economy, it would represent a c. 3.7% of GDP stimulus to the economy, with a lot of people who will spend it. What happens when you add to the M3 money supply? Inflation. And putting that much more in - in a short period - would bring back visions of people in Germany in the 30s.. Well, maybe not as bad, but inflation will hit hard, interest rates will rise to try and stem it and that $5K is not quite worth what they think it is. 

 

The US debt is at historical highs and yields are rising now (still YoY slightly down). The world economy is starting to feel the onset of a nasty flu. If Chumpo is true to his word and the Republicans win, you do not want to have or hold anyone else's debt. 

[nomadpete]

1 hour ago, Jerry_Atrick said:

It is c. 245m adults x $5k = c. $1.33tn. 

I always wondered how many folks actually read my posts.

 

Now I know.

 

Thanks!

[old man emu]

6 hours ago, nomadpete said:

Well it can't be called a bribe, can it?

According to Trump, if it walks like a duck; if it quacks like a duck, it's a water fowl. 

[kgwilson]

Anything to do with Trump is foul.

[old man emu]

Here is an analysis of Trump's $5K cheque announcement by, would you believe it?, an Australian professor of Economics living in the USA.  He asks five questions whose answers shoq that this announcement is hot air. Totally impractical, and even illegal under world moentary rules. The answer to his first question is obvious - would Trump deliver? No need for me to supply the answer to you.

 

 

[Marty_d]

Even if he did pay out (and he won't), most people would have lost over $5k already in price rises, loss of benefits, loss of services etc caused by the idiot's actions to date, and would lose more if they kept the Republicans in power.

 

[facthunter]

The Poor will pay the Price of the bribe. It just adds to the existing debt, and is inflationary.  Another Con by the Don. Nev

[Jerry_Atrick]

Yeah, but a very clever one, notwithstanding the illegality of it. Everyone will see $5K in their eyes... many will see $10K (or more) to the household. It is not an amount to be sneezed out. Many people aren't taught basic economics (otherwise Chump would not have got in in the first place), so all they see is money money money - the stuff the very fabric of USA culture is made from. 

 

Even if the purchasing power of the USD halved overnight, 2.5K or 5K or more in today's money may well be quite an enticement to those on the bread line.. and the future is looking very bleak anyway, so looking bleaker is neither here nor there to them. 

 

That is why governments like keeping the masses poor.

Edited 2 hours ago by Jerry_Atrick

[ClintonB]

Eligible adult might be the catch, like the word from in prices.

if you want to take a cruise in steerage class with no air or light it is from $1999.00 if you add a window it is $4999, a balcony is $7999.

suddenly is cheap any more.

i could just imagine his terms, no bad comments, no crimes, no ethnics, no gays etc.

might just be him, Baron and Melania eligible at the end.

[facthunter]

Something like that would not go down well.. Clinton. Jerry the RICH want to be richer  and they will organise that whenever possible . Some governments make it easier for them and also help themselves if we let them . It's pays better to serve the rich .  It's always been that way.  They have the means and can Buy Influence. Nev

[Jerry_Atrick]

Re eligibility - all we have is every American adult.. That would imply that non documented migrants would not be eligible, that is it. There was no Republican voting, white, straight church going caveats. So, that is all we have to go for. In theory, that would include those American adults living abroad, but they are dedicated from the count - that that it makes a material difference anyway. 

 

If the Rich sense it is a likely outcome, there will be inflation swaps being written for them to get rich against. Also, most of the uber Rich have welath managers and treasury teams, and they will be working hard to make money off the rising inflation and interest rates. Say property prices crash again.. bargains to be had when it picks up. The rich rarely think just the current financial year. 

Edited 1 hour ago by Jerry_Atrick

[old man emu]

Let's be realistic. It's not going to happen. Anyone read an Epstein file lately?