Political Roundtable Part XI

[dckingsfan]

TGW, just responding to your quote.

And remember - it was the government through Freddy and Fanny that were encouraging those loans.

And now many loans that they wouldn't consider risky aren't happening - because banks are steering clear of them as a whole due to regulatory overburden.

So what happens. A new class of entrepreneur comes on the seen and sees the usual imbalance in government practice and exploits it. Pushing many people into being renters instead of buyers. Those same people will then scream bloody murder because we created another 1 percenter.

If the federal government had never inserted themselves in the mix we would have been better off.

The government create the problem and then created another problem fixing their problem. #sowizards

[nate33]

TGW, just responding to your quote.

And remember - it was the government through Freddy and Fanny that were encouraging those loans.

And now many loans that they wouldn't consider risky aren't happening - because banks are steering clear of them as a whole due to regulatory overburden.

So what happens. A new class of entrepreneur comes on the seen and sees the usual imbalance in government practice and exploits it. Pushing many people into being renters instead of buyers. Those same people will then scream bloody murder because we created another 1 percenter.

If the federal government had never inserted themselves in the mix we would have been better off.

The government create the problem and then created another problem fixing their problem. #sowizards

If their credit is bad, perhaps those renters SHOULDN'T be buyers. This strikes me as an example of where government regulations might actually be doing their job.

[nate33]

In today's "You Cant Make This Up!", President-Elect Biff Tannen (credit to Monte) appoints none other than Linda McMahon of the WWE to head of the SBA.

No, I'm not kidding. This lady now is the head of the Small Business Administration:

Trump voters should be so proud.

McMahon's two Democratic Senate opponents had kind words for their former foe.

Sen. Richard Blumenthal called her "a person of serious accomplishment and ability" who can help small businesses as long as "she is not hamstrung by the dangerous economic policies espoused by other Trump-nominated Cabinet officials." Meanwhile, Sen. Chris Murphy called McMahon a "talented and experienced businessperson" who helped shepherd WWE from an idea into a successful business.

https://apnews.com/c6dde15450a549a0ae50eb9fac79a124

[montestewart]

TGW, just responding to your quote.

And remember - it was the government through Freddy and Fanny that were encouraging those loans.

And now many loans that they wouldn't consider risky aren't happening - because banks are steering clear of them as a whole due to regulatory overburden.

So what happens. A new class of entrepreneur comes on the seen and sees the usual imbalance in government practice and exploits it. Pushing many people into being renters instead of buyers. Those same people will then scream bloody murder because we created another 1 percenter.

If the federal government had never inserted themselves in the mix we would have been better off.

The government create the problem and then created another problem fixing their problem. #sowizards

If their credit is bad, perhaps those renters SHOULDN'T be buyers. This strikes me as an example of where government regulations might actually be doing their job.

It's good that the government is backing away from no money down loans and instituting other protections, but in some cases I've seen, more stringent regulations have produced counterproductive results. Many people who have been meeting their loan obligations under the old regulations, with no changed circumstances other than perhaps increased income, have been unable to take advantage of falling interest rates due to more stringent regulations. I don't think that's as much an elective bank response to regulatory overburden as it is bank compliance with mandatory regulations that are perhaps a little too inflexible.

PS: I've mentioned this in the past, and I'll add it here: yes, "it was the government through Freddy and Fanny that were encouraging those loans," and it was Wall Street and bankers, through lobbyists and campaign contributions, that were encouraging the government. The housing collapse was a true public-private partnership.

[dckingsfan]

TGW, just responding to your quote.

And remember - it was the government through Freddy and Fanny that were encouraging those loans.

And now many loans that they wouldn't consider risky aren't happening - because banks are steering clear of them as a whole due to regulatory overburden.

So what happens. A new class of entrepreneur comes on the seen and sees the usual imbalance in government practice and exploits it. Pushing many people into being renters instead of buyers. Those same people will then scream bloody murder because we created another 1 percenter.

If the federal government had never inserted themselves in the mix we would have been better off.

The government create the problem and then created another problem fixing their problem. #sowizards

If their credit is bad, perhaps those renters SHOULDN'T be buyers. This strikes me as an example of where government regulations might actually be doing their job.

Actually, there is now a large group that has good credit and can afford entry level housing but can't get loans.

I guess that's okay for the entrepreneurial class.

[Induveca]

https://www.google.com/amp/s/sec.theglobeandmail.com/news/world/us-election/trump-to-pick-andy-puzder-to-head-labour-department-source/article33265566/%3Fservice%3Damp?client=safari

And there goes the $15 fast food movement.

[DCZards]

https://www.google.com/amp/s/sec.theglobeandmail.com/news/world/us-election/trump-to-pick-andy-puzder-to-head-labour-department-source/article33265566/%3Fservice%3Damp?client=safari

And there goes the $15 fast food movement.

The $15 minimum wage movement has primarily been a grassroots movement...as you can tell by the growing # of states and cities that have either passed $15 min wage laws or are considering it. This movement has never depended upon the federal labor dept. to accomplish its goal.

[Induveca]

https://www.google.com/amp/s/sec.theglobeandmail.com/news/world/us-election/trump-to-pick-andy-puzder-to-head-labour-department-source/article33265566/%3Fservice%3Damp?client=safari

And there goes the $15 fast food movement.

The $15 minimum wage movement has primarily been a grassroots movement...as you can tell by the growing # of states and cities that have either passed $15 min wage laws or are considering it. This movement has never depended upon the federal labor dept. to accomplish its goal.

I guess being in NYC I associate it with the dozens of McDonalds and other fast food protests around the city the past few years.

Pudzer is adamantly against any such hike for fast food workers, and stated it would cause stores to close and automation to pick up the slack elsewhere due to risk.

In other words, those protests will fall on the deafest of ears within the Trump administration. Not celebrating that at all, but I do think the realities of automation of non-skilled workers is a topic that will now be tackled.

Maybe the protests morph and we have the first "Rise against the Machines" moment of the century.

[nate33]

https://www.google.com/amp/s/sec.theglobeandmail.com/news/world/us-election/trump-to-pick-andy-puzder-to-head-labour-department-source/article33265566/%3Fservice%3Damp?client=safari

And there goes the $15 fast food movement.

The $15 minimum wage movement has primarily been a grassroots movement...as you can tell by the growing # of states and cities that have either passed $15 min wage laws or are considering it. This movement has never depended upon the federal labor dept. to accomplish its goal.

I don't have much of a problem with minimum wage laws administered locally. Certainly, the minimum wage in Manhattan ought to be higher than the minimum wage in Cheyenne, WY. The idea here is to encourage higher wages, but not in a manner that makes businesses so unprofitable that they can't hire.

If localities overreach and set minimum wages at a level too high for the economy to sustain, businesses will move outside of city limits, like Walmart did in Oakland.

[Induveca]

https://www.google.com/amp/s/sec.theglobeandmail.com/news/world/us-election/trump-to-pick-andy-puzder-to-head-labour-department-source/article33265566/%3Fservice%3Damp?client=safari

And there goes the $15 fast food movement.

The $15 minimum wage movement has primarily been a grassroots movement...as you can tell by the growing # of states and cities that have either passed $15 min wage laws or are considering it. This movement has never depended upon the federal labor dept. to accomplish its goal.

I don't have much of a problem with minimum wage laws administered locally. Certainly, the minimum wage in Manhattan ought to be higher than the minimum wage in Cheyenne, WY. The idea here is to encourage higher wages, but not in a manner that makes businesses so unprofitable that they can't hire.

If localities overreach and set minimum wages at a level too high for the economy to sustain, businesses will move outside of city limits, like Walmart did in Oakland.

It's tough though, at least for certain locations in Manhattan. A franchise owner likely pays 20x the rent of a comparable sized location in a suburb.

One could argue they get more business than a suburban location, but fast food locations have been closing up shop all around Manhattan (which I applaud, less bums and drugs which seem to invade these places).

[doclinkin]

The $15 minimum wage movement has primarily been a grassroots movement...as you can tell by the growing # of states and cities that have either passed $15 min wage laws or are considering it. This movement has never depended upon the federal labor dept. to accomplish its goal.

I don't have much of a problem with minimum wage laws administered locally. Certainly, the minimum wage in Manhattan ought to be higher than the minimum wage in Cheyenne, WY. The idea here is to encourage higher wages, but not in a manner that makes businesses so unprofitable that they can't hire.

If localities overreach and set minimum wages at a level too high for the economy to sustain, businesses will move outside of city limits, like Walmart did in Oakland.

It's tough though, at least for certain locations in Manhattan. A franchise owner likely pays 20x the rent of a comparable sized location in a suburb.

One could argue they get more business than a suburban location, but fast food locations have been closing up shop all around Manhattan (which I applaud, less bums and drugs which seem to invade these places).

More impressive for New York is the 12 week paid family leave provision. Starting at half pay stepping up to 67% wage by 2021. Covering not only birth or adoption but also family illness or when a family member is called to active military service.

[Induveca]

I don't have much of a problem with minimum wage laws administered locally. Certainly, the minimum wage in Manhattan ought to be higher than the minimum wage in Cheyenne, WY. The idea here is to encourage higher wages, but not in a manner that makes businesses so unprofitable that they can't hire.

If localities overreach and set minimum wages at a level too high for the economy to sustain, businesses will move outside of city limits, like Walmart did in Oakland.

It's tough though, at least for certain locations in Manhattan. A franchise owner likely pays 20x the rent of a comparable sized location in a suburb.

One could argue they get more business than a suburban location, but fast food locations have been closing up shop all around Manhattan (which I applaud, less bums and drugs which seem to invade these places).

More impressive for New York is the 12 week paid family leave provision. Starting at half pay stepping up to 67% wage by 2021. Covering not only birth or adoption but also family illness or when a family member is called to active military service.

https://www.google.com/amp/nypost.com/2016/04/12/how-you-end-up-paying-for-paid-family-leave/amp/?client=safari

Not so much. This, in combination with NYS/NYC taxes and Healthcare are fueling the demise of local business. At least that's the general consensus by small to mid-sized business owners in NYC.

These variables have made contractors (vs employees) even more appealing than before. Knowing I have an 8 week project I can push to completion with thousands of backup coders worldwide via the contract route, vs a full time 150k/year employee who could suddenly take off for 12 weeks and still get paid 75k is a no brainer.

This law hurts startups and small business, as it adds more legal hoops. Not to mention employees foolish enough to mention they plan to have a family.

[AFM]

Read on Twitter

?s=09

Malik!!!

Way cooler than his brother!!!

[closg00]

A fitting kick-off to Fascism
http://time.com/4595399/women-march-washington-barred-lincoln-memorial/?xid=fbshare

[FAH1223]

Read on Twitter

DRAIN THE SWAMP

[Induveca]

A fitting kick-off to Fascism
http://time.com/4595399/women-march-washington-barred-lincoln-memorial/?xid=fbshare

Better start building your bunker.

[nate33]

A fitting kick-off to Fascism
http://time.com/4595399/women-march-washington-barred-lincoln-memorial/?xid=fbshare

[nate33]

Read on Twitter

DRAIN THE SWAMP

In a way, I was kinda hoping for a stock market correction after Trump won the election. That would set the table for some real financial reform (which would likely result in a deeper correction, if not a crash) in such a way that Trump wouldn't really be blamed for the downturn. But with the recent surge in the market after his election, Trump does not look like he is willing to take on the banks and financial institutions. He has too much to lose now.

[closg00]

A fitting kick-off to Fascism
http://time.com/4595399/women-march-washington-barred-lincoln-memorial/?xid=fbshare

So you're celebrating this jack-boot sh*t? I have news for you, those people are coming to all of those places anyway, probably even more now.

[AFM]