The Recession: Nov budget deficit $205billion; Deficit grew 48% in 2018

[afterlife2009]

 

[mastermind]

@88m3 is the man for this. He posts articles on the NYC gentrification thread about this. Condos and apartments are not selling as they used. What we have here is a glut of expensive condos in Manhattan, Brooklyn and a lesser extent in Queens. You have landlords so desperate they are overlooking tenants credit scores and shyt. The building boom from the Bloomberg era has not panned out any benefits. I see it all the time in Brooklyn. You see these high rise condos built which was supposed to house 600 people only to have 40 people living in them. The bubble is bursting. The developers made they money from the building boom from the Bloomberg era. shyt is about to get ugly.

it is happening in DC too
Buyer reluctance showing up in D.C.-area housing market | WTOP

To put this in context, the D.C. area was not affected by the 2008 crash.

 

[hashmander]

yeah one of them made me a nice bit of money in 2018. kick them while they're down.

the lesson i learned from the big short (book) was there is no point in me suffering along with everyone else.

 

[Skooby]

it is happening in DC too
Buyer reluctance showing up in D.C.-area housing market | WTOP

To put this in context, the D.C. area was not affected by the 2008 crash.

Good. Everything is overpriced here.

I wasn't living here then but I thought the area was affected? Just not as much as the rest of the country.

 

[phcitywarrior]

Good. Everything is overpriced here.

I wasn't living here then but I thought the area was affected? Just not as much as the rest of the country.

Was slightly affected, more so around PG. Bowie and Upper Marlboro got hit pretty bad if I remember.

The general job market, however, was pretty good.

I think the blow to housing won’t be to single family homes like last time but more so to apartments and townhomes. A lot popping up that are mad vacant.

 

[mastermind]

Good. Everything is overpriced here.

I wasn't living here then but I thought the area was affected? Just not as much as the rest of the country.

PG county was affected cuz we all black. That started happening in 2005, 2006.

 

[FAH1223]

Was slightly affected, more so around PG. Bowie and Upper Marlboro got hit pretty bad if I remember.

The general job market, however, was pretty good.

I think the blow to housing won’t be to single family homes like last time but more so to apartments and townhomes. A lot popping up that are mad vacant.

PG county was affected cuz we all black. That started happening in 2005, 2006.

The effects are still around. Foreclosures and short sales still happening in the area esp Bowie, Glenn Dale, Lanham, Upper Marlboro...

 

[tru_m.a.c]

 

[hashmander]

it's basically strategy at this point. explode the deficit on tax cuts, leave a democratic administration with the task of raising taxes and lowering the deficit to make sure they can't do anything else. anger voters, elect republicans to be good stewards of the economy. wash, rinse, repeat.

 

[storyteller]

it's basically strategy at this point. explode the deficit on tax cuts, leave a democratic administration with the task of raising taxes and lowering the deficit to make sure they can't do anything else. anger voters, elect republicans to be good stewards of the economy. wash, rinse, repeat.

Yep, you nailed it. They actually have a name for it, "two santa clauses" described in the quote I'll paste from this article:
Thom Hartmann: How the GOP Used a Two Santa Clauses Tactic to Con America for Nearly 40 Years

The Republican Party has been running a long con on America since Reagan's inauguration, and somehow our nation's media has missed it - even though it was announced in The Wall Street Journal in the 1970s and the GOP has clung tenaciously to it ever since.


In fact, Republican strategist Jude Wanniski's 1974 "Two Santa Clauses Theory" has been the main reason why the GOP has succeeded in producing our last two Republican presidents, Bush and Trump (despite losing the popular vote both times). It's also why Reagan's economy seemed to be "good."


Here's how it works, laid it out in simple summary:


First, when Republicans control the federal government, and particularly the White House, spend money like a drunken sailor and run up the US debt as far and as fast as possible. This produces three results - it stimulates the economy thus making people think that the GOP can produce a good economy, it raises the debt dramatically, and it makes people think that Republicans are the "tax-cut Santa Claus."



Second, when a Democrat is in the White House, scream about the national debt as loudly and frantically as possible, freaking out about how "our children will have to pay for it!" and "we have to cut spending to solve the crisis!" This will force the Democrats in power to cut their own social safety net programs, thus shooting their welfare-of-the-American-people Santa Claus.


Think back to Ronald Reagan, who more than tripled the US debt from a mere $800 billion to $2.6 trillion in his 8 years. That spending produced a massive stimulus to the economy, and the biggest non-wartime increase in the debt in history. Nary a peep from Republicans about that 218% increase in our debt; they were just fine with it.


And then along came Bill Clinton.

It's a long article, but worth reading the whole thing for sure.

 

[Robbie3000]

Yep, you nailed it. They actually have a name for it, "two santa clauses" described in the quote I'll paste from this article:
Thom Hartmann: How the GOP Used a Two Santa Clauses Tactic to Con America for Nearly 40 Years



It's a long article, but worth reading the whole thing for sure.

The ultimate goal is to destroy new deal, great society programs at all costs. Muthufukkas are crazy. They will be our downfall.


I was watching a Vice Documentary on division in the country from 2016 and Frank Luntz, the GOP pollster, said the GOP is certified crazy and they won't be happy until they burn the place down. He said he was moving to New Zealand permanently after Trump won. I looked it up and looks like he moved earlier this year.

In the same documentary, John Boener said 1/3 of the GOP caucus are knuckle draggers.

 

[North of Death]

The ultimate goal is to destroy new deal, great society programs at all costs. Muthufukkas are crazy. They will be our downfall.


I was watching a Vice Documentary on division in the country from 2016 and Frank Luntz, the GOP pollster, said the GOP is certified crazy and they won't be happy until they burn the place down. He said he was moving to New Zealand permanently after Trump won. I looked it up and looks like he moved earlier this year.

In the same documentary, John Boener said 1/3 of the GOP caucus are knuckle draggers.

The strategy doesn't work without democratic support...all you have to do is look at the vote counts of budgets that passed...its not 0 sum as you are implying

 

[King Kreole]

it's basically strategy at this point. explode the deficit on tax cuts, leave a democratic administration with the task of raising taxes and lowering the deficit to make sure they can't do anything else. anger voters, elect republicans to be good stewards of the economy. wash, rinse, repeat.

Which is why Democrats need to adopt Modern Monetary Theory as their official economic model and bush this whole deficit charade.

 

[MasterOfAllHeSurveyz]

Me this go around:

 

[Triipe]

Which is why Democrats need to adopt Modern Monetary Theory as their official economic model and bush this whole deficit charade.

"We must spend out way out of this recession" My big hangup with MMT is the idea that Fiat money is foolproof and that debt is a net good for the economy.

The issue isn't only tied to the Federal Budget, a big fraud in the system is in the over securitization of companies. The whole .022% interest rate that the FED has been giving to the FEDs Member Banks (Goldman/JPMorgan) was just then leveraged on Wall Street. This Malinvestment has resulted in over inflated stock values and a upside down pyramid of sorts with the base and narrow section representing the actual value of the companies, and the tiers going up representing the stocks and bonds tied to these companies. The crash happens when the weight of the securities and bonds outstanding tip over the said inverted pyramid.

check it, two reasonable folks that aren't blind ideologues
peep the question blue shirt ask around 1hr30mins in the vid for the most concise breakdown

I think both parties are at the dumpster fire stage of development, The first candidate that genuinely approaches the population and shoots straight in terms of the ways Americans have been financially defrauded they will win. Politics aside, people in general have the feeling that others in positions of authority have been playing the game with extra cards. The danger is people looking at the system that we have and calling it "Capitalism". We have had people in power sharing rewards of being in power via crony capitalism and other forms of self enrichment. Americans know they have been gamed, it is just a matter of the truth coming out. Short term pessimist, long term optimist.