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Dump Term 2, 1.01: Sleep Now in the Fire

Handyman said:
While you are right they will definitely not eliminate the income tax. They will for rich people, but you and I will still have to pay and will likely pay more. They will want to, but they're is no way to run the Pentagon without taxes and the government won't make enough on everything to fund it. Even if they instituted a massive sales tax to compensate the government would default, the military would become as pathetic as Russias and likely the Blue States are the only ones to survive. With subsidies every Trumper state would die on the vine. (Not that he cares) No they keep taxing us plebes until the market craters and oligarchs buy it all. The playbook was written by Putin and Orban and Trump is not even pretending to do anything different. The one thing different is Putin is fine as long as Moscow is safe...The US is a different animal with a lot more guns.

As for student debt...why even pay it he isn't going to have anyone in place to collect it. Hell the next 4 years write everything off on your taxes the IRS is about to be gutted. Last time I got away with murder this time I won't hold back at all. By the time they get around to collections for student debt the economy will be as worthless as the border wall.
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Making it less progressive is basically the same thing as eliminating it in my mind.
 
Deutsche Gopher Fan said:
It’s why I wonder if I just pull all my money out of my investments briefly and just sit. Never want to time market but I do think he’s gonna crash it all
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I wouldn't. Doing anything drastic like that increases risk substantially. Where would you put it? You can't put in it FDIC-insured accounts because that's being targeted too. You can't put it in treasuries because who knows what will happen with rates or even paying back debt. You can't put them in gold and commodities because that's not diverse enough. Straight cash would get eaten alive by the coming inflation.

there are no safe harbors in this storm. None.
 
dxmnkd316 said:
I wouldn't. Doing anything drastic like that increases risk substantially. Where would you put it? You can't put in it FDIC-insured accounts because that's being targeted too. You can't put it in treasuries because who knows what will happen with rates or even paying back debt. You can't put them in gold and commodities because that's not diverse enough. Straight cash would get eaten alive by the coming inflation.

there are no safe harbors in this storm. None.
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Only safe harbors are the ones that already exist for the people that "run" the market and always get the best returns. Kind of like those folks who made out like bandits during the '08 housing crash. They'll all be more than fine.
 
dxmnkd316 said:
I wouldn't. Doing anything drastic like that increases risk substantially. Where would you put it? You can't put in it FDIC-insured accounts because that's being targeted too. You can't put it in treasuries because who knows what will happen with rates or even paying back debt. You can't put them in gold and commodities because that's not diverse enough. Straight cash would get eaten alive by the coming inflation.

there are no safe harbors in this storm. None.
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If you buy the right treasuries long term you will be fine provided the US exists when they are redeemable. Some are even inflation proof. The ROI might suck for a bit but long term you should be fine. Much smarter than buying stocks...although a year from now when things crater that could change. (hence why rich people are hoarding cash right now)

The issue is we don't know what steps this phuck is going to take first. Well I should say third since first is deporting the illegals which will kill the farming industry and then the beautiful tariffs which will skyrocket everything else. What comes next will decide how long our economy is worth keeping money in. If they even hint at FDIC reform I would get my money out of every bank because by the midterms who knows how many will be solvent because there will definitely be a run. No one with even a small amount of knowledge of how banking works is going to keep money in uninsured bank accounts when the banks will be deregulated on top of it. I have no idea where to put it then...but I know some former international bankers who can probably point me in the right direction. Problem is when our economy craters it is going to spread like COVID at a Trump rally...

If they do this wrong it will make 2008 look like a minor blip and it will hit almost all at once and very friggin fast. If they take their time it will take a few years for the real damage to begin and those of us with the means and opportunity can protect ourselves. Judging by what the GOP in Congress is doing though...I would be hyper vigilant.
 
aparch said:
Yuuuuuupppppppp.

The New Trax is a niiiiiice vehicle, we love ours. T
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Aparch, if you are going to be reborn as a coder, cant hold down the keys to type in repeat characters. This will totally throw off the damn programs. Don't want to have people think of you as an uneducated white guy.
 
Jimjamesak said:
I’ve noticed this with newer, younger coworkers, and by younger I mean in the 18-25 range, and I just took it as more of I’m getting older thing but no, they are basically robots. They have knowledge and know how to access knowledge in a YouTube video or a TikTok or a Google search but there’s very little understanding of why or how.

TBF, boomers and early Gen Xers aren’t any better. The generations that told us “don’t trust anything you read on the internet” are suddenly very trusting of everything they read on the internet.
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Says JimmerJam (without laughing)

"Yeah, those republicans are the people removing spelling tests, cursive writing, history tests and grammar from the school curriculum. They are the ones who forced this upon the populace so the schools could then teach the LGT.... agenda and still have time for drag shows. Suuuuurrrre. "Hey kids, just write any way you want, spelling and sentence/paragraph structure be damned, we'll correct that later on." (like never).

Them are the brakes. I mean the brokes, no I mean the breaks. Phew, good thing those republicans allow us to have 5 retakes to 'master' english. The Dems are really tough and expect 100% proficiency the first go round."
 
Handy's point is fair. The right treasuries are probably fine. If the US truly defaults or ceases to exist, money won't matter anyways.

anyways, having some cold hard cash on hand is always a good idea.
 
Jimjamesak said:
Well the head of the FDIC announced that he’s resigning effective January 19 so…
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Yeah but that is because of the toxic work environment there...or at least that is the cover.

Mexico is already saying retaliatory tariffs are coming so...yay!
 
Moved to blue sky tonight

probably bad timing, half the suggested posts are about drake and Kendrick and I don’t even want to know what they’re referring to
 
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