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Old February 3rd, 2017, 10:08 AM   #1
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Dodd-Frank Scale-Back A Great Idea

A great idea because of all the proverbial "unintended consequences". Plus, Barney Frank is a scalawag cokesucker!



Dodd-Frank Do-Over a Win for Banks: Trump Advisor Gary Cohn | Fox Business

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Old February 4th, 2017, 04:09 AM   #2
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A great idea because of all the proverbial "unintended consequences". Plus, Barney Frank is a scalawag cokesucker!



Dodd-Frank Do-Over a Win for Banks: Trump Advisor Gary Cohn | Fox Business
Rolling back Dodd-Frank means that Republicans are setting this nation up for yet another economic collapse just like did by repealing Glass-Steagall that caused the 2008 collapse.

The approved methog of increasing loans is to reduce interest rates.

What is interesting to note is that lending only collapsed after Trump won the election.

https://www.federalreserve.gov/relea...nt/default.htm

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Old February 4th, 2017, 04:12 AM   #3
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What is interesting to note is that lending only collapsed after Trump won the election.
It didn't; it had be stagnant for the many years since D-F had been enacted. Only scaling back the unreasonable parts of it, NOT ending it entirely.
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Old February 4th, 2017, 04:15 AM   #4
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It didn't; it had be stagnant for the many years since D-F had been enacted. Only scaling back the unreasonable parts of it, NOT ending it entirely.
Which parts are "unreasonable"?
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Old February 4th, 2017, 04:18 AM   #5
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Which parts are "unreasonable"?
READ the Executive Order to find out! If it doesn't specify, then that means they are still working on that part (i.e. which provisions will still be in effect ultimately).
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Old February 4th, 2017, 04:41 AM   #6
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READ the Executive Order to find out! If it doesn't specify, then that means they are still working on that part (i.e. which provisions will still be in effect ultimately).
Trump is doing the OPPOSITE of what he promised to his supporters with this EO. Instead of "draining the swamp" he is feeding the Wall Street Casino sharks by giving them free rein to rip off hardworking Americans.

I gather that is something that you support given your derisory remarks about Frank in the OP.
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Old February 4th, 2017, 04:45 AM   #7
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Trump is doing the OPPOSITE of what he promised to his supporters with this EO. Instead of "draining the swamp" he is feeding the Wall Street Casino sharks by giving them free rein to rip off hardworking Americans.

I gather that is something that you support given your derisory remarks about Frank in the OP.
I give it a year tops before the new recession begins to rear it's head once these guys are free to play the markets at will. We are still in recovery and things are fragile.
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Old February 4th, 2017, 05:36 AM   #8
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I give it a year tops before the new recession begins to rear it's head once these guys are free to play the markets at will. We are still in recovery and things are fragile.
Unlikely. If Trump has Reaganesque policies, economy will BOOM like under Reagan.
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Old February 4th, 2017, 05:37 AM   #9
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I give it a year tops before the new recession begins to rear it's head once these guys are free to play the markets at will. We are still in recovery and things are fragile.
That was my thinking too but given what Trump is doing now it could be here sooner rather than later.

The markets do not like uncertainty and there is more than enough of that to go around.

How many people have cancelled plans to take vacations that involve flying given the uncertainty that they might be caught up in protests at airports? How much will that hurt the airlines and the tourism industry bottom lines?

How much will retailers be harmed by Trump/Ryan's 20% import tax plan? It won't matter that wealthy 1% shareholders will make out like bandits (again) from their massive taxcuts if ordinary Americans stop purchasing because they cannot afford the price hikes. And let's not forget that inflationary price hikes will harm retirees on fixed incomes causing them to cut back on spending too.

Just those two aspects are enough to worry the stock markets that they will see lower earnings in 2017 and therefore we could enter a recession sooner rather than later as corporations preemptively lay off workers to protect their dividends so that their shares won't drop in value. And yes, layoffs contribute to the pressure for a recession.

What is most troubling is that I don't see anything positive out there to offset the negatives.
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Old February 4th, 2017, 05:42 AM   #10
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That was my thinking too but given what Trump is doing now it could be here sooner rather than later.

The markets do not like uncertainty and there is more than enough of that to go around.

How many people have cancelled plans to take vacations that involve flying given the uncertainty that they might be caught up in protests at airports? How much will that hurt the airlines and the tourism industry bottom lines?

How much will retailers be harmed by Trump/Ryan's 20% import tax plan? It won't matter that wealthy 1% shareholders will make out like bandits (again) from their massive taxcuts if ordinary Americans stop purchasing because they cannot afford the price hikes. And let's not forget that inflationary price hikes will harm retirees on fixed incomes causing them to cut back on spending too.

Just those two aspects are enough to worry the stock markets that they will see lower earnings in 2017 and therefore we could enter a recession sooner rather than later as corporations preemptively lay off workers to protect their dividends so that their shares won't drop in value. And yes, layoffs contribute to the pressure for a recession.

What is most troubling is that I don't see anything positive out there to offset the negatives.
Then we have a good 30% of the economy in flux as the ACA, Medicare, Medicaid and the entire medical system being threatened (again) with possible upheaval. Obamacare dodged a bullet in the first place but, it was a close call.
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Old February 4th, 2017, 05:45 AM   #11
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Unlikely. If Trump has Reaganesque policies, economy will BOOM like under Reagan.
The Reagan boom only occurred after he RAISED taxes and went on an insane deficit spending spree that tripled the national debt.

It is also worth noting that the longest peacetime economic boom occurred after the two largest tax increases in the history of the nation.
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Old February 4th, 2017, 05:47 AM   #12
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Then we have a good 30% of the economy in flux as the ACA, Medicare, Medicaid and the entire medical system being threatened (again) with possible upheaval. Obamacare dodged a bullet in the first place but, it was a close call.
Good point since uncertainty in the healthcare system will result in steeper increases in rates further squeezing the embattled American workers.
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Old February 4th, 2017, 06:17 AM   #13
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Good point since uncertainty in the healthcare system will result in steeper increases in rates further squeezing the embattled American workers.
Yeah, just like milk was going to go to $8.00 a gallon in a previous thread, burning of the oilfields in Iraq would create a "nuclear winter", etc., etc., etc.

I'm old enough to have learned that things NEVER go to extremes, nor extremes predicted.

P.S. The sky is NOT falling!!!
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Old February 4th, 2017, 06:55 AM   #14
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Yeah, just like milk was going to go to $8.00 a gallon in a previous thread, burning of the oilfields in Iraq would create a "nuclear winter", etc., etc., etc.

I'm old enough to have learned that things NEVER go to extremes, nor extremes predicted.

P.S. The sky is NOT falling!!!
I don't recall predicting the onset of the apocalypse in any of my posts. Perhaps you could point out where I did that?

We are discussing the factors regarding the impending recession. Since it has been 8+ years since the last one and they usually occur (but not always) after the WH changes parties the next one is due probably within the next 2 year timeframe.

For those who are going to be laid off and don't have the resources to weather the layoff it is going to be miserable. For others it will be an inconvenience and a belt tightening. For the wealthy it won't be anything more than a news headline and an opportunity to buy stocks on sale.

That Trump is engaging in behavior that will bring it about sooner is worth remarking upon IMO.
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Old February 4th, 2017, 07:08 AM   #15
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Good point since uncertainty in the healthcare system will result in steeper increases in rates further squeezing the embattled American workers.
ONLY if it is repeal only. Since it will be "repeal and replace", the exact OPPOSITE will be true.
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Old February 4th, 2017, 08:46 PM   #16
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ONLY if it is repeal only. Since it will be "repeal and replace", the exact OPPOSITE will be true.
Given that the only viable replacement for Obamacare is Medicare-for-all and that won't happen under the current GOP regime.


This is the current level of chaos surrounding the GOP's imaginary "replacement" for Obamacare.

GOP More Clueless on Obamacare in Private Than in Public

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Several Senate Republicans have expressed severe reservations about repealing Obamacare without having a replacement. Now the House is admitting there isn’t going to be a replacement. So now the choice falls to Republicans to either defeat repeal, or allow the system to hurtle toward chaos.

Update: The Washington Post has obtained a recording of House and Senate Republicans meeting over how to proceed on Obamacare. The meeting, held privately, suggests that Republicans have even less idea over how to proceed than their public comments suggest. There appears to be no consensus on anything. Can Republicans repeal the law through a budget-reconciliation bill, and then try to pass a replacement later? They don’t know. (“The fact is, we cannot repeal Obamacare through reconciliation,” says Representative Tom McClintock. “We need to understand exactly, what does that reconciliation market look like? And I haven’t heard the answer yet.”) Are they going to keep the law’s expansion of Medicaid? They don’t even agree on attaching a measure to defund Planned Parenthood.

Numerous members expressed fears about the backlash they would face by snatching coverage from 20 million Americans. They have spent eight years promising to implement something better, and the Republican Party is still gawking at a whiteboard trying to figure out step one.
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Old February 5th, 2017, 03:26 AM   #17
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Given that the only viable replacement for Obamacare is Medicare-for-all and that won't happen under the current GOP regime.


This is the current level of chaos surrounding the GOP's imaginary "replacement" for Obamacare.

GOP More Clueless on Obamacare in Private Than in Public
It does indeed seem a disaster is in the making and will eventually effect a large portion of the population. Many do not even know they are on Obamacare....but will find out the hard way. It seems the GOP is bent on repeal and unlikely to replace or fix.
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Old February 5th, 2017, 04:44 AM   #18
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It does indeed seem a disaster is in the making and will eventually effect a large portion of the population. Many do not even know they are on Obamacare....but will find out the hard way. It seems the GOP is bent on repeal and unlikely to replace or fix.
Repeal without even a token attempt at replacement will mean placating their base while riling up the rest of the electorate to a point where they will vote out incumbents just to vent their anger as happened in 2010.
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Old February 5th, 2017, 05:19 AM   #19
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Repeal without even a token attempt at replacement will mean placating their base while riling up the rest of the electorate to a point where they will vote out incumbents just to vent their anger as happened in 2010.
While possible and even likely, current mindset amongst many allows for blind adherence to the New President regardless of personal damage. This phenomenon has even bled into first amendment and mental illusion creating false narrative as a new reality. Do not necessarily count on a course correction before the current begins guiding the boat....hopefully not over a waterfall.
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Old February 5th, 2017, 05:41 AM   #20
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Many do not even know they are on Obamacare....but will find out the hard way.
Really??? That is weird! It is really hard to believe that there are that many apparently with dementia who went to healthcare.gov, went thru the full application, sign-up, and insurance company evaluation and choosing processes, and don't remember at all they did it!

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