Posted on 05/10/2022 9:57:12 PM PDT by RandFan
Partial transcript:
“So this time we have a worse financial crisis than last time and nobody gets a bailout, nobody gets a government check there is no TARP there is nothing and what does that mean that means the US government instead of sending stimulus checks to Americans who were struggling, who are unemployed the US government is actually going to send Americans a bill because the government is going to be forced to raise taxes on the people who still have jobs because that's the only way it can pay its bills but you know what else they're going to do they're going to cut Social Security, they're going to cut Medicare not for future recipients but for the people who are getting checks right now.
The government is going to have to tell people who are on Social Security and who vote you know what we don't have enough already the Fed is fighting inflation right now and so we don't have any extra money and the cost of paying the national debt has skyrocketed and you know we have to pay a lot of money to Japan and China and Saudi Arabia and we don't have any money left over to make Social Security payments so we're going to have to cut your payments. Now maybe they won't say that maybe we're going to say you know what we're just going to tell a Japanese to pound sand and we're going to tell the Saudis and the Chinese we don't have any money we're defaulting on US treasury’s because the only way we can pay Social Security is not to pay you and the people who get Social Security vote and you guys don't. I mean it's going to be some combination of this but can you imagine what would be happening in the US economy if we were doing that if we were defaulting on treasury’s and cutting Social Security raising taxes on the middle class this is all what has to happen if the markets are correct that Powell is committed to fighting inflation and doing whatever it takes but I know that's a fantasy there's no way Powell is going to do any of that at the first sign of real trouble the Fed is going to pivot, the Fed is going to call off these rate hikes in fact any rate hikes that have been delivered will be reversed.”
They are just going to means-test for Social Security.
I don’t expect to collect in the long term, maybe in the short term.
Bank on it.
Yes because seniors are living high off the hog with their fat social security checks. Ridiculous! Average check is 1400 dollars while republicans are sending another 40 billion to Ukraine. Creeps! I don’t even get social security for 15 years and this still pisses me off.
Trump tax cuts are revoked in 2026. Coincidences?
Where’s The Big Guy’s truck? He gets 10% after all
My late in-laws were around for the 30s.
They remembered The Crash well.
I’m not worried about a replay of 2008.
The CMBS collapse will be the last elephant too. CMBS issue is not a straw. QE Forever caused this. CMBS fraud is the Son of RMBS from 2008. Corporate Mortgages, and the fraud committed to inflate the revenue generated by the businesses at those locations, are going to put the banks into another ‘crisis’.
US exposure to the Chinese RE collapse is going to be a big factor as well.
To Deep State. For care and feeding of the bureaucracy.
You didn't really think Medicare is about senior health, did you?
The fact that Deep State governors sent sick CoupFlu patients back from hospitals to their residential care facilities (despite Trump relaxing regs to allow facilities to refuse) should have told folks something.
The fact that those facilities took them should have told folks even more.
So let’s give Ukraine another 40 billion, that will solve our financial crisis at home.
But Biden sends how much financial aide to the Ukraine? And there is clamoring for more! Constantly!!!
Maybe for those of us on Social Security, there can be some help. Hunter Biden sure knows where to look for ready cash. Perhaps one of Hunters friends in Hollywood can bail us out or he could sell some of his crack induced art to the super rich in the Hamptons!!
Well, I can certainly see the evil DC cabal cutting out Medicare and Social Security, before cutting out welfare/Medicaid.
Just look at the voting base, of these two programs....at least half of the Medicare and SS recipients are NOT Dem voters.
Probably most ALL of the welfare/Medicaid voters ARE Dem voters.
No more money for you, you hard working retiree....it’s all for the non-workers and foreign countries. Now, run along.
Good summation. Thanks.
Rather than end Medicare, a better and more important solution would be to end Peter Schiff. He is a cancer on the American body
Isn’t Peter Schiff an author who wrote about Biden, Clinton financial corruption? Are you thinking of Adam Schiff (sp?)?
The EBT cards are a joke for us...we get $20 a month for the two of us. My brother and his wife get $350! Brother is on SS and his wife is on SSI disability. We get SS but we have to pay for Medicare for the two of us. Brother also has VA medical benefits (such as they are). How they figure these amounts are crazy.
Any office-holder voting for that bill is an Enemy of the Republic - no matter what letter appears after their name.
They raised the SS payments but raised the Medicare premiums and the deductibles! We are actually losing money when it is all figured out!
Turkey is getting hit with 60% inflation as of April, 2022. Turkish citizens are buying into gold, US dollars, euros and bitcoin as safe havens.
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