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Stimulus Payments We Received

Rjohnson

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#1
Certain people hate President Trump but they should remember something. Trump gave us $1,200 stimulus payments, plus $500 per child. That money has helped a lot of good people during this horrible pandemic.
I realize that Donald Trump isn't perfect. He has some flaws but so do all people (and that includes Joe Biden). Trump has a few flaws but I do believe that he cares about America.
 

hoarder

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#2
Such a nice guy! He "gave" me $1200 issued out of thin air for future generation to pay back to banksters plus interest. I will be indebted forever.
 

Cigarlover

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#3
Welcome to the forum.
I didn't get any money from the government. But I agree that money helped a lot of people and he's been trying to get more help out but the left wont let him.
 

Joe King

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#4
Yes, I'm sure that in the moment it helped many people/families.
....but as has been said, it was all borrowed money that will need to be paid back.


Imho, a better approach would have been to just suspend all loan payments for individuals and corporations for the duration of the pandemic.
Ie: move those payments to the end of the loan.

That way people get the relief they need because all their funds could be used for survival without fear of defaulting on their loan, the gov doesn't go trillions into debt and the banks still get their payments, albeit a little bit late.
After all, we're talkin' checkbook money that the banks created at the time the loans were made. Ie: no one is really out anything if the payments to return those conjured-up funds are delayed by a few Months.
Just seems to me that that would've been the least painful path.
 

Scorpio

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#5
yes, those loan and rental deferrals actually did happen,
all of the banks were advertising about the ability to look at your situation,

I asked a banker friend about this,
said if the person does ask for the deferral, won't that be a ding on them and their credit?
he stated, as he knew it then, it would

so you would have the ability to do so, but it would impact your credit worthiness,
not sure if that is how it played out

as for businesses, bank loans were the same, banks offering to defer,
whereas SBA automatically stopped pulling payments for 6 mos, which ended Oct 1, and they started pulling again

then too, if one purchased a business during that period, hear tell that they too were able to defer 6 mos of payments. Meaning, you could buy a business, and not have a first mort payment with them until 6 mos later. A real easing of burden on the front side.

those things + the dough that went out are but pieces of that $7T that went out. I do believe we would all be surprised where the bulk of it really went. The 'if we only knew' thing.
 

edsl48

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#8
To me the whole situation shows just how many assume and rely upon a thought that should anything go wrong Government will provide a bailout.
Years ago people migrated to this country to trade their labor for living expenses. Today people migrate here to get welfare and free health care.
We need a stimulus check too??????
 

Joe King

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#9
yes, those loan and rental deferrals actually did happen,
all of the banks were advertising about the ability to look at your situation,

I asked a banker friend about this,
said if the person does ask for the deferral,
With the deferrals, isn't all the missed payments due at the end of the deferral period? I could be wrong, but it was my understanding that they were.
....but deferrals that must be asked for and may not be granted is not the same thing as I was getting at.

The way I see it, if the gov is going to order business closed and make people stay home for weeks and Months at a time, and fdr could simply sign an order and shut down the banks, Trump should be able to sign an EO ordering the banks and lenders to suspend all debt payments for six Months (or maybe a year) and add them onto the backend of the loan.
 

Scorpio

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#10
you may be speaking of the rents, not sure how that played,
but to complete that, no one was paying the rent payments, so the LL's were out the dough,
wouldn't surprise me if those were due all at once

but with morts and other loans, believe they were tacked on the end
 

Scorpio

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#11
you may be speaking of the rents, not sure how that played,
but to complete that, no one was paying the rent payments, so the LL's were out the dough,
wouldn't surprise me if those were due all at once

but with morts and other loans, believe they were tacked on the end
 

hammerhead

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#11
Peeps get all kindsa money from the government, especially if you have kids. I've gotten tax returns that were larger than what was paid into.
 

hammerhead

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#13
To me the whole situation shows just how many assume and rely upon a thought that should anything go wrong Government will provide a bailout.
Years ago people migrated to this country to trade their labor for living expenses. Today people migrate here to get welfare and free health care.
We need a stimulus check too??????
The state and local goobermints have usually relied on the feds to pick up the slack. The push of sanctuary cities and free health care for illegals was to be funded by that.
 

gliddenralston

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#14
Trump gave us $1,200 stimulus payments, plus $500 per child.
Trump didn't give you anything, congress did... out of all that stimulus all you got was a few peanuts that lasted a week or two...now where is all that stimulus money? any idea?
 

the_shootist

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#15
Except for 6 months when I was out of work back in the 70's, which I've since paid back 10 thousand fold, I have never taken a dime from the government. Unlike many people in need, I did receive the stimulus, although I was far from needing it.
 

newmisty

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#17
Although I have my own business, we need to remember that we didn't build those businesses. Somebody else made that happen!


bb
Can we quickly and thoroughly erase this creature , its allies and all of its influence and impact on the world from history please??? I start feeling nauseous every time I see it.
 

the_shootist

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#18

Ensoniq

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#19
I didn’t get a check ;(

Would have cashed it had I gotten one even though I know better.

I’m all in for Trump but that doesn’t mean I cant see the moral hazard.

D1E701E2-856C-4E11-8657-C0C5E816ABF0.png
 

the_shootist

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#20
I didn’t get a check ;(

Would have cashed it had I gotten one even though I know better.

I’m all in for Trump but that doesn’t mean I cant see the moral hazard.

View attachment 185012
No guilt here. I immediately flipped it into gold.
 

Usury

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#22
With the deferrals, isn't all the missed payments due at the end of the deferral period? I could be wrong, but it was my understanding that they were.
....but deferrals that must be asked for and may not be granted is not the same thing as I was getting at.

The way I see it, if the gov is going to order business closed and make people stay home for weeks and Months at a time, and fdr could simply sign an order and shut down the banks, Trump should be able to sign an EO ordering the banks and lenders to suspend all debt payments for six Months (or maybe a year) and add them onto the backend of the loan.
Convenient Marxism is still Marxism.

And stop with the bank nonsense...they don’t actually hold most of the debt...it’s securitized. So it’s grandma’s pension fund that’s left not getting the payments. Plenty of private individual lenders too (especially when it comes to business selling/financing). So I’m sure they appreciate you volunteering to “defer” their livelihood/cash flow for many months.

Why stop there...clearly everybody should be able to get whatever they want and “need” from anybody else, right? **sarc** So tell us what your line of work is, so we can all line up to get some of your labor for free and promise to pay it at some unknown point in the future with no extra compensation. After all...you just said .gov should make it so people didn’t have to pay right now.
 

Joe King

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#23
Convenient Marxism is still Marxism.

And stop with the bank nonsense...they don’t actually hold most of the debt...it’s securitized. So it’s grandma’s pension fund that’s left not getting the payments. Plenty of private individual lenders too (especially when it comes to business selling/financing). So I’m sure they appreciate you volunteering to “defer” their livelihood/cash flow for many months.

Why stop there...clearly everybody should be able to get whatever they want and “need” from anybody else, right? **sarc** So tell us what your line of work is, so we can all line up to get some of your labor for free and promise to pay it at some unknown point in the future with no extra compensation. After all...you just said .gov should make it so people didn’t have to pay right now.
I get what you're saying. I agree that people/corps/other entities etc with debt, should pay that debt.

However, if the gov is going to prevent those debtors from earning a living in order to be able to pay those debts, then those payments should be suspended also.
If nothing else, it would serve as a "check" on the gov's power to prevent people from being able to do their jobs. Ie: it creates an incentive to let people get back to work as soon as possible, as opposed to this never ending lock down bs that started as 15 days but morphed into something far different.

Also, as scorp pointed out, many mortgages are already deferred, or eligible for it.
....and afaik, those are what mostly represent the securitized debt that you are referring to.
All I'm saying is to include all debt payments. Ie: car loans, cc's, personal loans, etc etc.
Is cc debt securitized? Car loans? Etc?

That way people can use existing resources in order to keep food on the table during the shutdown. If debt payments siphon off most existing resources, it's no wonder the gov then has to add trillions in debt in order to help the debtors.
....and those trillions represent debt for everyone, not just those already in debt.

Just to be clear, I'm not advocating that debt be forgiven, just put on hold for the duration of the (gov imposed) shutdowns.
Edited to add: it's what should have been done back in March.
 
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Usury

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#24
Problem with that Joe is that if all debt servicing stops then so does all lending. Which means no home sales no auto sales no X sales no new business financing and on and on. That will cripple things faster than a handful of peeps unable to make payments.

No, the real answer is for .gov to BUTT OUT.

My God...when did people on this forum start advocating for more gov intervention and bailouts. SMH...
 

newmisty

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Problem with that Joe is that if all debt servicing stops then so does all lending. Which means no home sales no auto sales no X sales no new business financing and on and on. That will cripple things faster than a handful of peeps unable to make payments.

No, the real answer is for .gov to BUTT OUT.

My God...when did people on this forum start advocating for more gov intervention and bailouts. SMH...
As soon as they got their Trump Bucks? :p
 

newmisty

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#26
Screenshot_20201021-202235~2.png

 

Joe King

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#27
Problem with that Joe is that if all debt servicing stops then so does all lending.
Now you're worried about lending?
I figured ending it was what most gimmers wanted.

Which means no home sales no auto sales no X sales no new business financing and on and on. That will cripple things faster than a handful of peeps unable to make payments.
Which would be a big incentive for the gov to not shut things down for so long. This crap started with a 15 day stay at home order. Look what happened when there's no incentive to end it.


No, the real answer is for .gov to BUTT OUT.
Agred, but it won't. So that's not exactly an option.


My God...when did people on this forum start advocating for more gov intervention and bailouts. SMH...
My suggestion would have no bail out.
....and the gov already intervened. All I'm sayin' is since it insists on interveining, that it should intervene in a way that doesn't require adding several trillion extra to the debt.