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The Official Thread Dedicated to "Biden Destroying Us"

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Interest rates are not going to 7% anytime soon, probably not within the lifetimes of many of us.

It's not the 1970s anymore. We've been off the gold standard for 50 years and the US no longer runs trade surpluses, so a higher percentage of dollars are leaving the country now.

The US exports much of its inflation to the rest of the world via our trade deficits, and the world reinvests much of those dollars back into US debt markets, keeping pressure on rates.

Inflation has been a conservative boogeyman for decades now. We finally get a little bit of it due to supply side disruption, and it's somehow the fault of government spending.

It will be an afterthought by next summer, and you guys can find something else to complain about.

Interest is simply a reflection of the value of currency. When currency value is stable, interest rates are low. When currency lowers in value (inflation), interest rates rise.

Seriously, you think lenders are going to give out money at 5% when inflation is 5.5%? So the money repaid over time has LESS value than the money loaned? Not going to happen.
 
If I was considering buying a new house or refinancing one, I would, but I'm not, so I won't.

In the short term, and who knows, maybe the long term as well, things aren't going to get any better than they are right now.

I've seen this before.
 
Interest is simply a reflection of the value of currency. When currency value is stable, interest rates are low. When currency lowers in value (inflation), interest rates rise.

Seriously, you think lenders are going to give out money at 5% when inflation is 5.5%? So the money repaid over time has LESS value than the money loaned? Not going to happen.

It depends on the lender's cost of capital.

If banks themselves can borrow at near 0%, like they are currently, they can absorb some inflation-adjusted loss on the capital and still make a sizeable profit on the loan

Besides, it's pretty much impossible to predict where inflation will be in 10, 20 or 30 years. A year or two out is about the best one can do, and there are a lot of variables at play even with that.

It's a big reason why the bond market is much more speculative than many people realize.
 
Not like this prediction involves any rocket science. As of today, he needs Dr. Jill to lead him around on a leash.

 
The lying liar telling lies. These 5 from just one week.


1. "Crime is down, gun violence and murder rates are up."

"Crime is down, gun violence and murder rates are up," Biden said. "Guns. I'm the only guy that ever got passed legislation when I was a Senator to make sure we eliminated assault weapons."

While other categories of crime such as drug offenses and property crimes may be contributing to an overall decrease in crime rates, deadly violent crime remains far above average. Homicides spiked by roughly 30% nationally in 2020 and climbed 24% more during the first part of 2021, according to New York Magazine.

"A big driver in the rise of crime is gun violence," White House press secretary Jen Pskai recently said. "That's a personal passion of [the president's] for decades."

Yet, major Democrat-run cities which already have some of the strictest gun laws in the country— including New York, Washington and Chicago — have experienced upticks.

2. Doesn't "know anybody, including Larry Summers" who is "worried about inflation"

Amid mounting fears — including within the Biden Administration itself — of rising prices, Biden claimed this week that former Treasury Secretary Larry Summers is not concerned about inflation. However, the Democrat economist who served in the Obama and Clinton administrations has been critical of Biden's economic actions, calling the stimulus bill earlier this year the "least responsible" economic policy in 40 years.

Recent inflation "relates to what in fact, is now needed, because we're growing," Biden told host Don Lemon at CNN's town hall event. "I don't know anybody, including Larry Summers, who's a friend of mine, who's worried about inflation."

Just over a week ago, however, Summers took a stance on inflation that conflicts with Biden's recent assurance. "These figures and labor market tightness and the behavior of housing markets and asset prices are all rising in a more concerning way than I worried about a few months ago," Summers told Politico. "This raises my degree of concern about an economic overheating scenario. There are huge uncertainties in the outlook, but I do believe the focus of concern right now should be on overheating."

3. Covid-proof and risk-free, "if you have these vaccinations"

In an attempt to convince more Americans to get vaccinated, Biden repeatedly claimed that vaccinated people are Covid-proof and risk-free.

"If you're vaccinated, you're not going to be hospitalized, you're not going to be in an ICU unit, and you are not going to die," Biden said at the town hall.

"If you’re vaccinated, even if you do catch the 'virus' ... you're not likely to get sick," he claimed. You’re probably going to be symptomless. You're not going to be in a position where your life is in danger."

Later in the broadcast he made the even more sweeping claim that "you're not going to get COVID if you have these vaccinations."

Yet, a growing number of "breakthrough cases" — those testing positive for the virus after being fully vaccinated — are being reported, affecting everyone from some of the truant Texas Democrat lawmakers photographed maskless on a charter flight to the nation's capital to White House aides whose identities are being shielded from public disclosure. And the CDC continues to report thousands of deaths and other adverse reactions to the COVID vaccines themselves thought its Vaccine Adverse Event Reporting System (VAERS).

4. "They're been working on" COVID vaccines "for two decades." <----- :ROFLMAO: :laugh::LOL:😂

Biden claimed during the town hall that the vaccines have been in development for over 20 years. But while the mRNA technology underlying the vaccine has been studied for many years, the COVID-19 virus has been circulating for less than two years.

"Everybody talks about how, you know, this virus came, this — the drugs that are designed to kill the virus came along so quickly," Biden said. "They've been working on it for two decades. There's nothing quick about this. It's been over two decades."

Development of the COVID-19 vaccine began in early 2020, which did not allow for the 10-15 years typically allotted for studies and trials.

5. COVID claimed more American lives "than every major war we've ever fought in the United States of America."

"This pandemic was out of control," Biden said. "We've lost more people in the United States — over 630-some thousand people — than every major war we've ever fought in the United States of America. More people have died than all our major wars combined. Think about that."

However, the Civil War alone resulted in a conservatively estimated 620,000 U.S. military deaths, and World War II claimed the lives of more than 400,000, according to data website statista.
 
It depends on the lender's cost of capital.

If banks themselves can borrow at near 0%, like they are currently, they can absorb some inflation-adjusted loss on the capital and still make a sizeable profit on the loan

What? No, the bank cannot "make a sizeable profit" by lending money at 5% when inflation is 5.5%. The lender has the money for free because of the Fed's monetary policy. Great.

So they loan the money at 5%. Awesome. Inflation is 5.5%. So they are repaid money that has declined in value. They made up a part of the loss by lending the money and getting something in return, but in fact the value of their capital is lower than it was before the bank loaned the money.

Meanwhile, the lender also has to pay employees, and shareholders, and cover loans that are defaulted. So they didn't make a "sizeable profit" by lending money that gets a return lower than inflation, and in fact lost money.

The policy that lets large lenders get money for free is driving the inflation that will force the lender to increase interest rates. Eventually, the Fed has no choice but to boost the fund rate, which then forces mortgage interest higher. Lenders know that when inflation exceeds 5%, the Fed at some point will need to try and control it. Lenders know the days of free money are over, and if they continue to give money away at less than inflation, and the Fed ends free money to control inflation, the lender is in trouble.

Or at least they should. I guess your point is that lenders are stupid and depend on the Fed covering their stupid decisions. Okay.

Besides, it's pretty much impossible to predict where inflation will be in 10, 20 or 30 years. A year or two out is about the best one can do, and there are a lot of variables at play even with that.

Okay. But lenders make decisions on interest rates and they use the Fed rate and inflation as guides. Lenders who bank on free money forever better be "too big to fail."
 
Proof that Xiden needs someone to wipe his ***. "My butt's been wiped!"



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Did I hear that right? This is beyond parody or anything else at this point.
 
(D)imbo policies in action - so awesome. People vote for this, the beauty, the improvement to our society. So awesome. Only gifted geniuses would understand the indescribable benefits to the poor slobs who have to work for a living and pay taxes.




In summary, **** Biden, **** Harris (join the very substantial club), **** (D)imbos, **** their failed policies.
 



Say what?
 
NOooooooooo, the Bidens have no connections to China, nope, none at all. Nothing to see, move along folks.

 
(D)imbo policies in action - so awesome. People vote for this, the beauty, the improvement to our society. So awesome. Only gifted geniuses would understand the indescribable benefits to the poor slobs who have to work for a living and pay taxes.




In summary, **** Biden, **** Harris (join the very substantial club), **** (D)imbos, **** their failed policies.

Quit being racist.
 
Wow, that Democratic leadership is serving New York well. What a shame. Seriously.

 
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