2020 US Presidential Election
- Thread starter Born To Slay
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What happens when mortgage forbearance expires? Does the monthly mortgage payment go up?
I think the economy was already in trouble before COVID-19 appeared. Central banks were trying to disguise the underlying problems of the real economy flooding the stock market and the bond markets with freshly printed money.
Salaries have been stagnant for so long I can't remember a significant salary raise and this is widespread. So central banks are just bailing out rich people and irresponsible corporations with taxpayers money.
The whole thing is ridiculous and I don't think it will end up well.
- Jan 25, 2013
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What if you wanted to go on a vacation and use an EV, where would you charge it and how long would it take to charge? It seems EVs would only be practical for short commutes. How do you get heat from an EV when it's cold out? How about the over the road truckers that drive all day? Electric would never work for them. They are mostly all diesel powered and travel hundreds of miles per day.
I think it's going to be a very slow transition to even 10-15% EVs. I'm not sure how well the hybrids work but they would seem to be the way to go for now. I see some trucks changing to LP gas powered. That would be much more practical and cut down on carbon emissions quite a bit compared to gasoline.
I think it's going to be a very slow transition to even 10-15% EVs. I'm not sure how well the hybrids work but they would seem to be the way to go for now. I see some trucks changing to LP gas powered. That would be much more practical and cut down on carbon emissions quite a bit compared to gasoline.
- Jan 25, 2013
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That's cruel the way they were treated, even if it was just for one day or night.
- Aug 21, 2014
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Note: I am not a fintech person, and I also have been lucky enough to not need to access this program because I have a job so we have been able to keep up with our mortgage.
My understanding is: there was a mortgage forbearance offering, along with an eviction moratorium. These two things are very different, because if you put a mortgage into forbearance, then it means "you do not need to make any payments, you will not be specifically penalized for missing any payments, however, interest will continue to accrue".
Eviction moratorium means "even if you're critically behind on your rent or mortgage payment, you cannot be evicted right now". It doesn't change the balance due, though.
So, for people who were able to put their mortgages in forbearance, the principle is going to go up as interest stacks and payments aren't made, meaning their payments coming out are likely to be higher. EXCEPT: COVID-19 HAS DEMOLISHED INTEREST RATES. We were able to refinance to 3.25% and shave $150 off our monthly payment, shave 2 full years off mortgage term, and this cost $380 out of pocket which then netted us a $4000 escrow refund. So, if people are in a situation where they are able to refinance, lowered interest rates may eat up all that difference. Learning how to navigate all that was a perplexing minefield for me, but I'm not very smart, I am just some asshole with a compsci degree.
If you're just being prevented from being evicted, then your rent payments are indeed, probably, stacking up. I believe a "winning" strategy for a lot of people in this situation will simply be, once they're employed again, to declare bankruptcy, walk away from the accrued rent debt and any credit card debt completely, and simply be inconvenienced for a few years by having a bankruptcy on their record.
If I was in a position where I was just returning to work at $15/hour after being out of work for 9 months and I owed $20,000 in back rent, you can bet your sweet petunias I would be looking very hard at "max out credit cards on food and supplies that can be held long term, and then declare bankruptcy instantly".
Someone is gonna be left holding a big bag here. Logically I think it should be the Fed, but I'd rather see this burden fall on landlords than random working class renters. If a given landlord didn't have banked resources to run their rental properties for 6-12 with no income... they were not obeying the fundamental basic rules of how to operate a rental business, and if they end up "losing everything", oh no, my heart bleeds for people who were overleveraged on $750,000 apartment buildings during a boom economy. If they didn't set stuff aside for the inevitable Bust, they are Bad At Capitalism, and should be on my side petitioning for better entitlements programs.
Yes, real wages have been stagnant for decades, and lots of people were predicting some kind of serious tech implosion as well as overall economic implosion before COVID-19 because of... the normal boom/bust cycle of capitalism and globalism.
COVID-19 has done all kinds of really weird shit to the math but I think the optics we have now amount mostly to "papering over some problems with temporary cash infusions". Things are completely broken and destined to spiral; the GOP did everything possible to push this off so it happens under Biden's Watch and not under Idiot45, but we're running on fumes in many ways.
- Jan 25, 2013
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Idiot#46 is reversing many of Trump's good executive orders. If some interest groups asked Biden to jump he would probably say how high? I would think Biden should think for himself instead of being controlled like a puppet. I suppose he is being pressured on his campaign promises to follow through or else they will protest.
Mexican leader says Biden offers $4B for Central America
https://www.startribune.com/mexican-leader-says-biden-offers-4b-for-central-america/600014219/
https://www.startribune.com/mexican-leader-says-biden-offers-4b-for-central-america/600014219/
- Jan 25, 2013
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I see there is an existing Keystone pipeline. I thought it was all unfinished. So they already have a complete pipeline and were going to add another one to intersect the original for some reason. I would think if the XL project was partially done it should be finished. It would be nice to totally stay out of the chaotic Middle East and deal only with our friendly neighbor to the north.
This was to increase the volume of gas. It's cool you looked it up. So many people don't realize there is already one.
One problem with the new one is it was illegally issued to go through Native American lands. The Sioux even tried to sue (ha) over this:
https://www.narf.org/cases/keystone/
This is probably the chief (ha again) reason Biden halted it btw.
We're not leaving the Middle East regardless of this. We're too busy playing chess in the region with Russia, China and a bunch of lunatics. A lot more there than just oil.
We are running out of money due to unemployment, the vaccine programs are not working well, and Biden wants to give Central America four billion taxpayer dollars, presumably to appease the liberals who believe this payout will eliminate the need for strict border control.
Maybe it will, if we help the countries people are coming from, perhaps they'll stay put. Historically, many of these nations are like this because of our imperialism and drug policy anyway. And you know as well as I do that 4 billion is a rounding error in the budget.
Four Billion dollars is chump change, lol. Throwing money at people who have nothing is not going to fix their situation, or ours. Right now, we're in the middle of the worst health crisis in over a century, we cannot afford to throw way 4 billion dollars.
Joe "C'mon man" Biden is an example of somebody that does not know what real work is. Trump may have been a difficult person, a micromanager in a macro managerial world, but he knows how to get things done and yes, he has failed sometimes, which is inevitable at times, until success is achieved.
"Europe is laughing at us" is something we heard during the Trump administration. Yes, Europe, who caused two world wars in the 20th century which took the lives of 95 million people, is judging the character of an aggressive American businessman and they gave him a thumbs down. I am glad they hate him, if they didn't I would be probably not like him at all.
I wonder what the game plan is on Joe Biden's stimulus. He was originally going to try to have the rescue plan passed so he can do his recovery plan in February and March but now it looks like the rescue plan has been pushed back to March. I wonder if he now may do both in one big bill. I could see the argument for doing that due to Senate procedure.
- Aug 5, 2019
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Saying that about Europe because of World Wars is like saying no one should listen to America because of the Native American genocide. World War 2 ended over 75 years ago. No one who ran Europe at the time is even still alive, much less in power.
Foreign aid has always been in the budget, targeting it to certain countries to try to stop them coming here is far from abnormal. Trump signed bills with foreign aid, he included it in his proposed budgets to Congress. Why do people act like Democrats are the only ones doing this?
It's so self righteous to act like 4 billion is a lot of money anyway. The country spends 4 trillion plus a year, that's kinda like rich parents getting upset that a kid bought a candy bar because it cost too much. We can afford it, the fact that we just did kinda proves that. We control our own currency, we can afford anything we want.
Who's still living in the 1940s?? I swear it's 2021.
Imagine bringing up whatever bad thing a Roman Emperor did from ancient times to every person you disagree with from Italy. Yeah, your point being?
It's kinda random, and plus I'm sure the Roman Empire doesn't exist today either. So little value comes out of it other than bringing in irrelevant topics for pointless reasons.
- Aug 5, 2019
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That reminds me of the zinger that Democrats used to be the slave owners and that Lincoln was a Republican. It's like, what does that have anything to do with today? It's just something for partisan/tribal points.
I'm confused by some of them when they talk about the civil war. There's some subtle confederate sympathizers I knew who said that Lincoln did a bad thing because he wasn't for "states rights" (states rights to own slaves*, but whatever they say).
In the next hour when they discuss Republicans and democrats, then they go on about Democrats being the true racists (while denying Trump being a racist lol) because they were most popular with white supremacists a very long time ago. Their tone about Lincoln changes, and suddenly he is the greatest leader of all time pretending they just didn't criticize him an hour before by basically saying he should have just given him their states' rights (to own slaves).
Ideologically, they're all over the place.
Thought some of you guys might find this interesting as it's related to my last post. Remember them saying BLM is Marxist because of something that happened a very long time ago?
Did you know Abraham Lincoln and Karl Marx (the creator of Marxism) were pen pals sending each other personal letters? Even Abraham Lincoln spoke like Karl Marx after a while. They agreed on some things like of course slavery being unethical which is why Karl Marx supported the North when the Civil War was going on.
So if Democrats are the party of racists and BLM is Marxist because of what happened a long time ago, then the Republican party is Marxist as well. Trump is a Marxist too.
Did you know Abraham Lincoln and Karl Marx (the creator of Marxism) were pen pals sending each other personal letters? Even Abraham Lincoln spoke like Karl Marx after a while. They agreed on some things like of course slavery being unethical which is why Karl Marx supported the North when the Civil War was going on.
So if Democrats are the party of racists and BLM is Marxist because of what happened a long time ago, then the Republican party is Marxist as well. Trump is a Marxist too.
Just because someone is friends with socialists/communists doesn't make them socialists/communists.
WaPo Article Preposterously Claims Abraham Lincoln Was 'Into Karl Marx'
These type of arguments become talking points because Democrats like to claim they are anti-slavery, against white supremacy, etc. when in fact they turn a blind eye to these things when convenient.
Robert Byrd was a Democrat who was also a KKK Grand Wizard. He was and still continues to be revered by Democrats.
Al Gore's family (including father I believe) was also involved with the KKK.
Strom Thurmond was a Democrat and segregationist, whom Biden praised during Thurmond's eulogy and described as a great friend. Let's not forget that Biden also made a handful of racist comments, which are easily searchable online.
I don't think anyone was saying that. I wasn't being serious about Trump being a Marxist, however I don't think Biden is one either, but for some odd reason some folks say he's an actual communist based on a few small progressive policies.
Basically the point is, just like someone being friends with communists doesn't mean they're communist, also applies to organisations that co-operated with Marxists decades ago (such as the civil rights movement, even MLK went to a "communist training school" according to some right wing fear mongering newspaper) and any policy they deem as "communism" from whatever the Democrats put forward.
Abraham Lincoln was not a real communist, just like Biden isn't one either.
Agree but this argument was made in regards to BLM because one of the founders was into Marxism and even though they have nothing to do with BLM now, it was declared that "BLM is Marxist" even though their stated goal is literally only to end police brutality to African Americans.
@TeeOh was just pointing out through satire how ridiculous that was and it sounds like you see his point.
Another influential person, towards Abe Lincoln's was John Bright of England, a member of parliament, Quaker, and factory owner who used child labor. Bright was opposed to reforms that would eventually limit child employee's time to ten hours a day. Factories were working children from six in the morning until seven in the evening, with a 30 minute bread for eating. This included little girls 7-12 years old. Gotta love him, though, he was against slavery in America. I assume that John Bright had no problem with 750,000 men being killed in the Civil War, just as Lincoln didn't. Lincoln and John Bright liked to send portraits of themselves to each other. The little children that Lincoln's boyfriend Bright worked to death don't count, they were born white and therefore exploitation didn't exist for them. Apparently the deaths of some three quarters of a million men in the Civil War, almost 5% of the entire population North and South in America, didn't bother them very much, either. For all we know, Bright made money on it. The first female millionaires in America, made their fortunes through War investments, yet not a single female has ever been drafted or been forced to perform non-combat work for the military or government during wars, or peace.
The Quaker work ethic and the factories
- Jan 25, 2013
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The Keystone XL project plus finish the Mexican wall. Why do a half ass job when both are partially done? We don't need more illegal immigrants and drug smuggling into the US. Also Biden is Catholic so he should be more influenced by the Pope and Pro-Life people than the Pro-Choice people that want everything taxpayer funded. They could probably come up with a compromise of some sort somewhere in the middle. I'm not sure on the Paris Agreement as China and India will continue to be the largest polluters by far and having the US stay oil independent is preferable. The US is going green on its own slowly.
