r/politics • u/ben_watson_jr • May 19 '24

How Can This Country Possibly Be Electing Trump Again? Soft Paywall

https://newrepublic.com/article/181287/can-america-possibly-elect-trump-again
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u/MourningRIF May 19 '24

I have friends and in laws who have made absolutely terrible financial decisions in the past 5-20 years, and they are hurting for money. They blame Biden and are sure the only thing that will save them is a Trump economy. (And somehow he's going to make their 100% home-equity loan and $50k of credit card debt go away overnight.)

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u/fingerthato May 19 '24 edited May 19 '24

Thats pretty much what the PPE loan forgiveness did for business owners and pumping 14 trillions dollars into the stock market. Any business owner or stock holder made a lot of money under trump basically over night.

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u/florkingarshole May 19 '24

Which ultimately led to the inflation and high food prices we're dealing with now. These dumb motherfuckers can't understand consequences, so they cannot fathom the fact that the shit they're now experiencing is directly attributable to Trump's fuckery. While also failing to recognize the brilliant job the present administration did in averting a major recession and the fact that the US weathered that storm with less inflation than anywhere else in the world, and we're still in better shape economy-wise. The Dow just broke records.

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u/fingerthato May 19 '24 edited May 19 '24

I commented on the absurdity of SOMEHOW his friend lawyer thinks Trump will make his home equity loan and credit card debt go away like its a magical dream. I simply explained how it is not a far fetched dream, Trump actually did manage to just do that in an indirect way.

I agree with your statements, it was a rich people bail out, it happened under trump, and now we are paying the consequence. Unfortunately, the avg voter will blame Biden, who is not doing enough to convince the avg voter or his base, making Trump a more ideal candidate since rich people did FEEL better economically under Trump.

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u/Shan-Do-125 May 19 '24

It’s very frustrating that they’re too dumb to understand this. They refuse to even try

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u/Hannity-Poo May 19 '24

I'm doing okay. I own a small business and make six figures. I'm my only employee. Trump gave me $28k in forgiven ppp loans. WhY Is ThErE inFLayshUn?

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u/Expensive-Rub-4257 May 19 '24

It was not the Trump economy it was the Obama economy. Covid destroyed the Obama economy, but Trump did little to prevent it. Very bad policies to fight Covid.

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u/florkingarshole May 19 '24

Very true. Trump just gave all the businesses a shitpile of money, which ultimately led to the inflation we saw, and the high food prices we have now. But people are too goddamned stupid to understand that it takes years for policy changes to ripple through the larger, overall economy, positive OR negative. Obama had us on a longterm slow, solid growth pattern, but the rich (like Trump and his buddies) like the boom/bust cycle so they can more easily profit on the suffering of others when shit crashes. They tried SO FUCKING HARD to cause a recession, but the current administration prevented it. The consequence is higher interest rates, but that will pass in time, so long as the idiot doesn't end up Idiot in Chief again.

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u/Expensive-Rub-4257 May 19 '24

Higher interest rates benefit the wealthy? We own two homes and are benefiting from higher rates. Why, we have cash on hand.

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u/florkingarshole May 19 '24

Higher interest rates benefit the wealthy?

Sure, but not as much as when you wealthy folks can pick up another home for pennies on the dollar because some broke-ass working stiff lost his shitty job in a recession and lost his house, which the bank then auctioned off. Then you can rent it back to him for 20% more than he was paying for the mortgage he defaulted. But he'll probably just end up living in a van, down by the river. It's OK though, cuz someone will get you that margin!

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u/NO_SPACE_B4_COMMA America May 19 '24

He saved us though! Just have to inject bleach into your body.

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u/MourningRIF May 19 '24

Absolutely correct. And the economy would have taken a major hit even if COVID didn't come along. You can't make as many mistakes as Trump did with no consequences. It just takes 2-4 years before you feel them, so the next administration always takes the blame.

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u/IsThisOneStillFree May 19 '24

Which is kinda-sorta extra ironic because for highly indebted people high inflation can be a blessing. Of course only in the long run and only in some cases, but still.

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u/MourningRIF May 19 '24

I guess you mean if their salary compensates for inflation, making it easier to pay off their debts? The thing is that they can't make ends meet now, and the type of person who gets that far into debt will still never catch up.

I had to tell my wife to stop sending her parents money. They had some rental properties and decided to "soft retire" 20 years ago. Now they have loans on every property to the point that they have like 10% equity in each one. They can't make the bills and they are about to turn 70. No way can they keep maintaining these rental properties. Of course they have zero savings to retire on and they have major credit card debt. What do you do with that?

I keep my accounts separate from my wife because she also has no money in her account even though she makes almost what I make, and I pay all the damn bills! I started from zero and saved a half million, and she wants me to bail them out... Yeah right. (Sorry I had to rant a bit, lol!)

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u/NO_SPACE_B4_COMMA America May 19 '24

My family does the same thing! They buy shit they can't afford. Then cry they are broke and blame Biden. Well that truck with a $900 payment isn't necessary.