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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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  • It'll be newsworthy, believable, and/or actionable only when Biden signs the final law......
  • So the Kabuki drama winds down to the well-scripted conclusion...
  • A cursory look seems to indicate a promising compromise. Neither side got everything they wanted, but the Republicans DID get some concessions they needed to achieve. That's probably the best we could hope for. I think they both knew they had to get an agreement, but the Republican base needed something they could call a win, and I think they got it. Won't satisfy a few of them, but maybe indicates that everyone isn't totally off the tracks on that side of the isle.
  • There is more work to do on both sides in selling the compromises. Clock is ticking away as the X-day, June 5th, approaches.
    https://msn.com/en-us/news/politics/mccarthy-s-next-challenge-sell-debt-ceiling-deal-in-congress/ar-AA1bNhGH?ocid=hpmsn&cvid=daf4488fb0b94267953e3508593e4764&ei=10
  • What's next though...crash the market to gets the peoples to buy the tons of tbills that will be issued?

    What crisis of the day will "they" manufacture to cause that?

    How about acting like sane rational adults and negotiating a stop to the slaughtering in Ukraine?
  • As I understand, we will now see if the more moderate factions of both parties, will agree to pass a bill, that the extreme factions would not support. It is a true test of bipartisanship, instead of the extreme factions dominating the media with their more exxtreme positions. I am tired of "public opinion" surveys, and interviews of members of the extreme factions--hopefully the moderate membership of both parties will now take over and use a bit more common sense compromise decision making.
  • edited May 2023

    When in doubt, sacrifice the poor and call it moderation: https://politico.com/news/2023/05/28/house-democrats-nutrition-programs-debt-00099071

    With all due respect, this is a predictable reaction from the democratic side of the debate, but I contend this is not a "mainstream" issue. The voting moderates of both parties, seem to be swayed by gasoline and other energy "costs", food store costs, can we replace our Iphones and TVs economically, how much does it cost to repair or replace our homes, what does it cost to repair or replace our cars, what happens to our investment nest eggs, what is going to happen to social security, health insurance, defense, etc. More fringe issues will be important, but not get as much attention than more central living issues that most of the middle class population relate to on a daily basis.


  • edited May 2023
    With all due respect, feeding hungry people in the wealthiest nation on earth should not be a “fringe issue.” Other developed nations do not impose a work requirement to receive food assistance.
  • Thank you LB
  • @LewisBraham - Precisely!
  • It's all so interconnected! Interconnected, like human nature is connected to the institutions we create, and the principles and policies those institutions represent. I ran a small food bank years ago, in partnership with the local Salvation Army. The SA higher-ups insisted that our field of service, geographically, was the local school district. I never cared for such boundaries, so..... Between myself and the local SA guy, we had an understanding: when anyone comes asking for help with an address outside the school district, the SA guy, who needed to report to his higher-up people, would simply create a local address for those folks out of thin air. A total fiction. And then, the people in need could leave my church with a bunch of free food instead of chasing around, looking for a food bank willing to serve them. THAT would have been a disgrace.

    LB says it nicely, above. Those in need are forced to jump through hoops to get what they need in this country. It's stinky.

    On the other hand, there's a chicken-and-egg thing going on, at the same time: so, we have a schmillion homeless all around. What comes first? House them? Feed them? Give them free toothbrushes and toiletries? Let them use the shower at some facility or another, to get cleaned up? ... Or, maybe treat the underlying causes of their homelessness? Their mental health issues????? And there are homeless people who WANT to be homeless. I think in such a case, uncle Eric Adams in NYC has it right: whether you like it or not, you're going to be brought in to be evaluated. Because your (homeless!) human dignity demands that you are not reduced to living on the street. ....MOST homeless have psych issues, and a good number are veterans, too.
  • edited May 2023

    With all due respect, feeding hungry people in the wealthiest nation on earth should not be a “fringe issue.” Other developed nations do not impose a work requirement to receive food assistance.

    That sounds like a very good sermon, but at the end of each day, what the bulk of people talk about is how much more they had to pay for food at the grocery store, how much it cost them to fill up their cars with gas, how much their electricity utility bills went up, and how they can't afford to repair their houses and cars. Those are their basic everyday living needs, and whether you like it or not, they are more likely to vote for an elected official who will help them with their struggle to pay their bills, than they will for the elected official who helped pass a better food assistance bill.
  • So you mean most don't want handouts to the sidewalk shitters, free riders, takers, lazy bums? C'mon I would think just about everyone would agree to ensure kids, disabled, down on their luck, elderly should get all the assistance they need but I'll be danged if my taxes go to feed someone who is of sound mind and body and just sits around smoking weed...

    Please don't bother with the propaganda articles....I've seen it with my own eyes and know which end is up....you can post all the statistics you want, I'm just not buying what you're selling Lewis

  • Both US futures and cryptos are flying in Sunday evening pre-market (yes, these guys work hard!).
  • From my May 13 post...yep, even a simpleton called this one correctly. But, y'all made for some entertaining reading.

    https://www.mutualfundobserver.com/discuss/discussion/comment/163364/#Comment_163364


    "Maybe I'm too much of a simpleton but, here it is.....

    THERE WILL BE NO DEFAULT."





  • Hey Roy. Has the deal been approved by both houses yet? Looked like Miami won last night until it did not.
  • @larryB

    Correct, not a done deal until it is signed...but, there will not be a default.
  • I hope you are right.
  • @Baseball_Fan

    >> C'mon I would think just about everyone would agree to ensure kids, disabled, down on their luck, elderly should get all the assistance they need

    You really don’t keep up, do you? Maybe stop posting until you get informed about the GOP.
  • edited May 2023
    @dtconroe Since when is a two sentence post I made previously a "sermon?" Moreover, how arrogant and presumptuous do you have to be to believe you speak for the "bulk of people" and that your singular viewpoints are everyone else's? Americans' views on food stamps are considerably more nuanced when looking at survey data instead of relying on, I don't know, a certain president's unsubstantiated "people are saying":

    https://theguardian.com/society/2023/mar/17/snap-food-benefits-us-cuts-impact-families

    https://nasdaq.com/articles/food-stamps-survey-reveals-americans-are-torn-on-snap-eligibility-requirements-what-are

    https://clf.jhsph.edu/about-us/news/news-2018/survey-nearly-two-thirds-americans-oppose-cuts-snap-program

    The bulk of people do not think like you. Moreover, 12% of Americans who receive food stamps, most of whom are elderly or children, are not a fringe group. That's a significant demographic:

    https://qz.com/more-americans-than-ever-rely-on-food-stamps-but-cuts-a-1850275077
    Nationwide, 12.4% of Americans rely on food stamps, many of them children, elderly, or disabled. To be eligible for SNAP benefits, a family of four would need to make $31,980 or less per year. The average household receives $256 per month to spend on groceries.
    Increasingly I believe America has become a culture of cruelty that celebrates hurting people like the children and elderly who can't fend for themselves. $8.53 a day--for the $256 a month--to feed the average struggling American family is not a lot to spend on them in the wealthiest nation on the planet. Most of them are kids for God's sake. OK, "sermon" over.
  • @Lewis. +100. Still I want to respectfully disagree with your last paragraph. Substitute “the repuglican party” for American. They celebrate cruelty and a mean spirit that doesn’t represent what American stands for. It’s funny, today on my block you can tell where the repugnant’s live,,,,,,, they have big or multiple flags up. The wrap themselves in the flag but they stand not for the best of American values but for the very worst of inhumanity. Shame on them.
  • Well, however much we generalize in whatever direction, an enormous, simply astounding number of people regularly elect officials and support policies where cruelty and niggardliness and outright inconsiderate sadism (to go redundant) are precisely and fully and happily the point. They sometimes say otherwise when asked pointedly, but generally think the questioner is lying. No meaningful sympathy for Head Start, living ( = shitting) on the street, coping with untreated miscarriage, any of that progtard woke stuff.
  • In his column, Fareed Zakaria talks about the strength of the US economy, then says: “Could it be that it is precisely this backdrop of strength that allows Washington’s politicians—and the Republican Party in particular—to indulge in this crazy political theater?”.
    “For most countries, the price of playing games with one’s creditworthiness would be sharp and severe, and that would act as a disciplining mechanism. But in Washington, the country’s enduring strength has become a license for irresponsibility.”
  • stillers said:
    OK. Good. I was trusting a different source. Still, those are old, stale numbers, eh? Still a big chunk in both categories. Certainly worth addressing.
  • edited May 2023
    The US politicians and the public who grew up with "reserve currency" dollar and "high/stable" credit rating don't realize their importance. So, there is this unusual game playing or brinkmanship in the DC that leaves foreigners dumbfounded.

    But other countries play similar games, although the issues may be different. Greece went through a series of post GFC crises that surprised the world but it has now recovered. Italy often astounds the outsiders. Its current PM won election on a populist and anti-EU platform, but once in power, she flipped and won't do anything she campaigned for - and many there think that is great. She proved that an elected politician may be totally different from a campaigning politician - and there are many other examples.
  • edited May 2023
    I grew up in Texas, got 2 graduate degrees in special education and psychology from very "liberal" universities, worked in the mental health field both as a direct service worker and later as an administrator seeking funding, and experienced the political realities of trying to get politicians to make the "right" decisions to serve those who were struggling to survive in the communities we served. If you know Texas, you might understand the political realities are very very challenging! We are next to last in per capita funding for mental health services (Thank God for Mississipi or we would be last). Over the years, I attended and made numerous public presentations about the needs for funding mental health, presented all kinds of statistical information to convince politicians to see things as I saw them, and found polite acceptance of my presentations, but it rarely changed the politicians votes. Over time, Texas became more and more conservative in its elections of our representatives, became a major choice for major companies (Amazon most recently), and we are of course a major supplier of oil, the lifeline for Texas income and a "tax friendly" state for major employers.

    What I have learned over my lifetime of living in Texas is that our politicians reflect the views of those that elect them. In Texas, social issues don't sway votes. "Suppertime" issues, that our citizens talk about each evening, are what I am continually presented as reasons why our voters continue to elect our political elections, and laws the pass. I have voted for Democratic candidates almost my entire life, and my wife of almost 50 years have shared my views and my voting preferences. Unfortunately, my wife is now telling me that she is considering voting republican for the first time in our married life. When I ask her why, she tells me that she is struggling to stay within our budget, is paying more for groceries, is shocked at the price of gas for her car, can't find bargains in her clothes shopping, is concerned about the safety of our adult daughter teacher, is worried about the safety of our grandchildren in school classes, etc etc etc. These are our "suppertime" conversations, and it is those issues that is causing my wife to now openly tell me she will be looking for someone, other than Biden, that she "thinks" will do a better job of addressing issues important to her. She hates Trump, hates our state republican leaders, and is very frustrated with this "Debt" threat at the national level, and she blames Biden and the Democrats for it. She wants relief at the national and political level for those "suppertime" issues, and although she is a very kind loving person, she is not personally interested in discussing many social issues that the Democrats want to talk about, UNTIL her "suppertime" concerns are addressed and improved
  • @dtconroe

    Thanks for the personal story. You captured well what are the likely considerations in millions of households.

    I personally don't believe it is feasible to have sequential progress. I.e. Everybody's suppertime issues get fully resolved before society helps the less fortunate. There needs to be some level of sacrifice from the haves to help out the have nots and the haves need to redefine wants vs. needs.

    I have voted mostly Democrat but don't support all Democrat views, there's certainly some crazies within the Dems. That said, when I see the sheer cruelty of the GOP policies, I cannot in good conscience vote GOP.

    That said, everyone comes from a different place in life with different views
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