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mattee2264

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  1. $1.9TR proposed just weeks after the $900B with main elements being top-up stimulus checks of $1,400, increase in supplemental unemployment benefits of $400 per week until end of September, $400B in local and state aid, and various other bits and pieces. And an infrastructure bill to come in February that will also probably be in the trillions. How likely is it this passed? Or will gridlock in the Senate mean the final figure will be negotiated way down.
  2. On the other hand the success of political leadership and central bank governnance seems to be equated with the stock market of which Big Tech are a pretty major component. So that might delay their comeuppance until the economy is on a more stable footing and the Democrats have settled in. I'm sure a lot of politicians have a lot of their wealth wrapped up in the stock market so aren't going to try and take down a large segment of it.
  3. I think it is very relevant to the investment forum given Big Tech represent over 20% of the index and have accounted for the majority of the returns over the last 5 years. Especially with all the passive indexing what happens to market sentiment towards Big Tech will have a big market impact. Re market abuse under competition law having a dominant position isn't the problem rather it is abuse of that position and detriment to consumer welfare. By that criteria Google will be fine (providing free search to consumers) as will Amazon (low prices). I don't think free social media has the sam
  4. Also promising trillions in immediate fiscal stimulus.
  5. Manchin clarified his comments. All he meant was the #1 priority should be the vaccine distribution not the checks but he didnt rule them out although he did hint his preference was for more targeted support e.g. additional unemployment benefits. Besides quite a few Republicans are in favour of the checks. So they will probably pass. Then Biden comes along and promises trillions of dollars of immediate fiscal relief with details to follow next Thursday. Scariest thing is he claimed the higher figure was a result of advice from economic experts. Whether he can actually achieve that level of
  6. Let me think....flippant, arrogant, uninformed....must be a Democrat. Not Biden though.
  7. Are there any fiscally conservative segments of the Democrat Party? It seems like one thing they can all seem to be able to get behind is more bail-outs and hand-outs. Aside from the $2,000 checks I've read speculations of a further stimulus early this year anywhere between $600B & $2-3TR. I kinda feel Mitch has a point and it is ridiculous giving checks to middle class people/yuppies who have kept their jobs and have nothing to do with the money besides betting on the stock market or bitcoin and a smaller more targeted package makes more sense.
  8. My understanding of US politics is quite limited. As I understand Dems control the senate 51-50 thanks to the VP tiebreaker. Is there a whip system to force people to vote on party lines or does the very slim majority mean that moderate Democrats will probably dictate which policies get implemented? The consensus view seems to be that a Blue Wave means a fiscal tsunami that includes in addition to the $2,000 stimulus checks extended unemployment benefits, more support for small businesses, a Green New Deal and a lot more state aid. But also later down the lines higher taxes and more regul
  9. Biden said in a speech the other day that if Democrats win both Georgia seats the additional stimmy checks will go out the next day. Cash for votes is the very definition of third-world politics.
  10. Mining stocks up quite a bit. Socialist governments usually good for inflation. But I'm guessing it will just be a replay of last year when initial jitters give way to the markets suddenly deciding that the election result (regardless of what it is) is actually incredibly bullish.
  11. Yeah wouldn't surprise me if Democrats win it simply because people have figured out they'll get more handouts. I saw in the papers that McConnell's house has been vandalized with "Weres (sic) my money" spray painted on the front door.
  12. Apparently after the election loss Trump has been in talks with his advisors about a strike on Iran who have apparently continued to quietly pursue its nuclear ambitions while the world was distracted with coronavirus. They advised against it. But Trump doesn't seem like the kinda guy to sit quietly for the next three months and help with a smooth handover. So with his election contest failing and no-one willing to give him much credit for the positive vaccine developments it seems logicial he wants his last act to remind people that he got touch on Iran after years of Democrat appeasemen
  13. Audits are meant to keep the system honest but regulatory capture is a big problem. Think of all the frauds perpetuated by massive companies that auditors enabled. Election officials aren't going to admit to any irregularities because they'd look bad for not blowing the whistle even if they weren't complicit. Auditors won't want to ruin their relationships with election officials over one election if it makes it harder to get work in future elections. So everyone involved has an incentive to cover everything up. And you can bet that any fraud will be a lot more sophisticated than dodgy ba
  14. In a strange way this is a step on the road back to normal. Mass protests were a feature of pre-COVID society. Earlier this year we had all the environmental protests. People are braving large crowds and leaving their homes. If there is not a deluge in new cases that will provide some evidence that the lockdowns have worked and give people more confidence to go back to work and resume social and leisure activities.
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