The Second Stimulus Discussion Thread

[Piff Perkins]

@Big Boss

Economic sabotage. The fed has almost unilaterally kept the economy from falling off a fukking cliff. Under normal circumstances, with two logical parties at the table, would I be fine with Toomey's language being added? Sure, because it simply states congress should play a role in authorizing the fed's emergency spending decisions. But we don't have two logical parties. We have one logical party, and one party that will do anything to harm the economy in order to regain power.

What's to stop them from blocking fed spending in two months when it's even more clear that the economy is fukked? What's to stop them from bargaining during the next stimulus negotiation and saying you can either get stimulus checks ($600), fed money, or state govt money...but you can only pick one. They see 2022 and 2024 on the horizon and expect to win both elections by extending the recession. It's obvious.

What can democrats do? No much, frankly. If they don't regain the senate next month it's over regardless. Nor can they write checks they can't cash. If only they had won one more senate seat in November...nuking the filibuster would be on the table IF they could win both Georgia seats next month. That way you'd be able to say if we win these seats, we WILL do xyz. You will get retroactive checks and state money, if we win. And since they'd have an extra seat, Manchin wouldn't be a problem; for those unaware he has made it clear he will not vote to end the filibuster under any circumstances. But instead even if they win both GA seats it'll be 50 to 50 in the senate, with Kamala being the tie breaker. Enough to ram through bills via reconciliation but everything else would be threatened by filibuster...

 

[Travelnomad]

Bernie out here talkin bout he's not gonna vote to end the government lockdown unless congress gives the people $1200 checks again.

Bernie's fightin ya'll


He's basically alone tho.


But he can keep all of congress in Washington over the holidays, and not let them go home if he strong arms them


Somebody gonna off Bernie ya'll...

We don’t deserve him , fukk them for not voting during the primaries! Now we’re in for some more fukkery for the next 4 years

 

[Robo Squirrel]

I'm really looking forward to the unemployment bonus. I'll take the $600 upfront and the $300 additional unemployment.

Or maybe the bill will be an additional $600 per week like before.

I can see that happening.

 

[aXiom]

i dont think breh is referring to ppp or any of that ... but to the bailout $ airlines and other companies DID use to buy back their stock and give out bonuses . im opposed to ANY bailout if it aint poor people . fucc an airline , but nikkas cry for daddy companies .

Wait, what? Bruh let me break it down for you.

These corporate ceo's see the economy about to tank. So they sell off a majority of their stock, with is the final dagger in the market crashing.. then after it hits rock bottom.. then buy it back, as well as other stocks that have done the same. These are called 'junk bonds' .. and then.. after they get bailed out from the stocks hitting rock bottom.. they come up since the stock value comes up. Rinse and repeat.

Yes, I get how this worked pre pandemic.. I'm speaking strictly post pandemic. They can't do stock repurchases till the loans are repaid.


Either way, I don't know what pisses me off more the CEOs or the nikkas on this site pushing the bootstrap rhetoric with no smoke for all these companies who spent the last decade enjoying record profits and repurchasing stocks with no rainy day fund to where they'd go bankrupt within just mere weeks into a pandemic.. begging the government for money while using their workforce as a human shield.. nikkas got this venom for kids who got finessed by student loans but none for the parasitic companies.. I guess corporate socialism is ok.

 

[the bossman]

Wait wait wait the hell????

Is that true?

While Congress been arguing for over half a year to help people who've lost their jobs or help stop people from getting evicted. Yet no problem handing millions to Kanye West and Ruth Chris steakhouse

Wait to see what the value of that 1200 in BTC is like a year from now tho

 

[[Something Cool]]

Edit: Wrong info

 

[GodinDaFlesh]

No it wouldn't... It would actually hurt the black community but I won't get on that because I enjoy posting on The Coli and I don't want to get banned.

Let me break it down

White Brad's ancestors came to this country in the Mayflower, started businesses in a land whose laws were for built for white people, and passed down those businesses, connections and networks for generations to the point where Brad's parents are able to either pay for Brad's college education and/or ensure that Brad can get a great job lined up for him his freshman year. Meanwhile, Jamal's ancestors came to this country in a slave ship, and had to endure slavery, Jim Crow, segregation, discrimination in the job force and the breakdown of the black family unit. Despite this, Jamal was able to claw his way to college (which society has pushed as the way to move up in life, largely because white people benefit from it), but his single mom can not afford to pay for college, so he has to take out massive loans to pay for it. He graduates but still has the same salary outlook as a white high school graduate, except he has to pay back those loans and doesn't have the the connections and network that Brad has to obtain a good job. Hence the statistics that black students take out more loans and owe more than their white peers years down the line. So it's great that you were able to make it out alright, but that doesn't speak for every black person who went to college. So when we start having policies such as student loan forgiveness and free college that would level the racial playing field, my cac/c00n radar immediately goes off when someone is adamantly opposed to it.

 

[Another Man]

I'm a black man and no one has ever given me sh1t, not even the benefit of doubt. I'm sorry if I don't have any mercy on a bunch of lazy, unaccountable fukks that feel like it's my responsibility to pay for their education.

Btw, I graduated in 09 into a really fukked up economy and still made a way for myself and my 9 year old daughter.

Nah

 

[the bossman]

Outright wiping out tens of thousands in student loan debt across the board and making everyone without the student loan debt but have likely lots of other debt and get jack shyt shoulder the bailout is a big fukk off from me

Do you have this same smoke for the government when they bailout big businesses repeatedly and still fire people after?

 

[WhatsGoodTy]

Don’t play with my emotions.

 

[Absolut]

Do you have this same smoke for the government when they bailout big businesses repeatedly and still fire people after?

Yea. What’s that strawman have to do with student loan forgiveness?

 

[the bossman]

Stop spreading false information. They literally cannot do this with the loans.

JP Morgan and other big banks have been doing this since last year. Why were they all getting bailed out daily needing the Fed to pump in billions to the repo market?

And now look, as soon as the Fed lifted the ban they're about to start the buybacks again.

JPMorgan Chase to Launch $30 Billion Share Repurchase Program in 2021 | The Motley Fool

Why change your behavior when you know the Fed will always bail you out

 

[Neo. The Only. The One.]

While Congress been arguing for over half a year to help people who've lost their jobs or help stop people from getting evicted. Yet no problem handing millions to Kanye West and Ruth Chris steakhouse

Wait to see what the value of that 1200 in BTC is like a year from now tho

How does this work? So when I got my 1200, if I had bought bitcoin, i would be able to cash out at 4000 by now no cap?

 

[The Intergalactic Koala]

If this was Europe , the mf capitol would be burning . they actually stand up to their govt . Americans picc sides and fight eachother lol

 

[shopthatwrecks]

$600 is a go?

trump wanted give out 2000

but both sides agreed on 600 smh