Mega-Thread: Trump Focused Discussion

[DarkTZeratul]

Hassett reveals Trump housing plan would let Americans tap 401(k)s for down payments

The bad ideas kept on coming. Hopefully they'll remain just that, ideas, and do not become actual policies.

Aren't you already allowed to do that, though? I distinctly recall being told you can borrow against it for a down payment.

[Darththeo]

In completely unrelated news six out of the nine members of RFK Jr. health panel that are pushing whole milk and meat just happen to have strong financial ties to the milk and beef industry.

Completely coincidental of course. Trump is draining the swamp after all, not clogging it up with more crap ... he totally wouldn't do that.

[Draco-Onis]

Aren't you already allowed to do that, though? I distinctly recall being told you can borrow against it for a down payment.

You can borrow from your 401K for any reason it's just a very dumb thing to do considering it's a loan with interest.

[Kathandira]

Aren't you already allowed to do that, though? I distinctly recall being told you can borrow against it for a down payment.

Not without a penalty. You really aren't supposed to touch your 401k until retirement age. But in extreme circumstances, some may need to take out money from it. But it comes at a cost.

[Draco-Onis]

Not without a penalty. You really aren't supposed to touch your 401k until retirement age. But in extreme circumstances, some may need to take out money from it. But it comes at a cost.

That plan is DOA even if it was a good idea, 43% of Americans have no form of retirement savings (No 401K, IRA etc), out of the ones that do have 401Ks about 40-50% are borrowing from it to survive from day to day. That's why the destruction of unions and pensions spelled doom for the average American, most Americans will only have social security to survive and they are gutting it.

[Rasulis]

Aren't you already allowed to do that, though? I distinctly recall being told you can borrow against it for a down payment.

I assume the government is planning to waive the 10% penalty (if not paid back in 5 years) and having to pay back the tax (assuming non-ROTH 401K).

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That plan is DOA even if it was a good idea, 43% of Americans have no form of retirement savings (No 401K, IRA etc), out of the ones that do have 401Ks about 40-50% are borrowing from it to survive from day to day. That's why the destruction of unions and pensions spelled doom for the average American, most Americans will only have social security to survive and they are gutting it.

That's a good point. If you can afford to max out your 401k, you should have no issues getting a good mortgage loan and paying the down payment.

[Gorsameth]

It may reach the point where "Declaring the tariffs illegal and undoing them would require a fuckton of work that would fuck this country even further, and you fuckers won't fix it, so we'll let it slide."

The lawsuits for claiming back tariff money have already been filled by major coorporations.

Its going to absolutely crater the US budget.

[Draco-Onis]

The lawsuits for claiming back tariff money have already been filled by major coorporations.

Its going to absolutely crater the US budget.

The son of our esteemed treasury secretary is one of the companies that have bought these tariffs claw back for pennies on the dollar betting the supreme court will reverse it. Even if the current case fails there's a congo line of other lawsuits looking to cash in from private equity heck even Costco has filled a suit.

[Breccia]

The lawsuits for claiming back tariff money have already been filled by major coorporations.

Its going to absolutely crater the US budget.

It could cause some damage, yes. The immediate effect should be the ending of those promises Trump made to give the tariffs money back to farmers, to taxpayers, to the deficit, etc. which we all knew were fabrications out of fantasy land anyhow. Trump is insane, after all. I suspect Trump will blame the corporations suing for their stolen money back, and not the fact that he stole the money in the first place. This would throw the ball into the House and Senate GOP, who Trump would tell to make a new law to let him tariff however he chooses. They can't, the split is nearly 50/50 and Democrats have proven their willingness to shut down the government over far less than "Trump steals trillions, his words not ours, from American taxpayers".

But I suspect you're mostly talking about the sudden shock of the payments of large piles of cash that Trump will claim the government doesn't have. Maybe the money, or part of it, is in an account somewhere, maybe it isn't, but Trump claiming it can't be repaid will shatter the stock market and also cause a dumping ground of US debt. That's a crater, alright. And the only way out, Trump paying what he's obligated, is effectively impossible.

Now, I will say I don't know if I agree with @Poopymonster about this particular SCOTUS letting it go on the grounds of "too difficult to fix". That's a very dangerous legal prescident to set. You know what else is difficult to fix? Murdering someone. And a conservative SCOTUS probably doesn't want to go on record saying "returning the stolen money would be undue hardship" when there's 90-plus percent of the country struggling to get by, but with easy access to firearms.

And just to be clear, if this country is destroyed because it has to return stolen money, and no I don't think we're quite there yet, but if we are...it deserves to be destroyed. The United States is not the proverbial man who stole a loaf of bread to feed his family. Until recently, the US had an economy doing just fine with inflation lower than it is now, GDP growth and unemployment better than they are now, and job growth better than it is now. It didn't need to steal to stay afloat. It didn't need Venezuelan oil, Ukraine's rare metals, Greenland's resources, or hundreds of billions taken directly from American corporations and taxpayers on the grounds of National Security Lol. And if returning the $200 billion stolen in 2025 is what breaks us, then Trump has damaged the country to the point that it had to resort to crime to stay alive. Very fitting for Trump, but not for the USA. If that's what we've been reduced to, the world would be better off locking the door, closing the curtains, and turning off the lights, as if an unwelcome stranger has entered their neighborhood.

Because that's what we've become.

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Trump was asked if he would leave NATO over Greenland.

He refused to answer.

Hey, remember when Trump said he's end the war in Ukraine in 24 hours? Now he's ready to leave NATO unless he's given an entire sovereign country filled with non-Americans who don't want to be Americans, and by doing such, worsen what's left of NATO's ability to defend itself in exactly the situation it was designed and built for.

Is Trump doing this because he's a senile old man, grabbing for a shiny object and becoming angry when told "no"?

Is Trump doing this to help Putin?

Is Trump doing this to distract from the fact that he's in the Epstein files?

I'm still waiting for a good explanation why Greenland was so critically important, yet Trump did literally nothing his entire first term.

[Iphie]

Trump was asked if he would leave NATO over Greenland.

He refused to answer.

Hey, remember when Trump said he's end the war in Ukraine in 24 hours? Now he's ready to leave NATO unless he's given an entire sovereign country filled with non-Americans who don't want to be Americans, and by doing such, worsen what's left of NATO's ability to defend itself in exactly the situation it was designed and built for.

Is Trump doing this because he's a senile old man, grabbing for a shiny object and becoming angry when told "no"?

Is Trump doing this to help Putin?

Is Trump doing this to distract from the fact that he's in the Epstein files?

I'm still waiting for a good explanation why Greenland was so critically important, yet Trump did literally nothing his entire first term.

As far as I know he can't actually leave NATO without permission from the Senate. I know he doesn't care but this bill was bi-partisan exactly to prevent him from doing something like this. Short of actually invading he can't just leave NATO, and the brass isn't exactly keen on doing that either. I think an actual order from trump might lead to either an army revolt or an impeachment.

[Corvus]

And in yet more weaponisation of the justice department, the governor of Minnesota and Mayor of Minneapolis are being investigated for 'obstructing law enforcement' for comments they made after ICE committed murder in their state.

https://www.bbc.com/news/live/cwyg34...1dbdf8981#post

[Rustedsaint]

It could cause some damage, yes. The immediate effect should be the ending of those promises Trump made to give the tariffs money back to farmers, to taxpayers, to the deficit, etc. which we all knew were fabrications out of fantasy land anyhow. Trump is insane, after all. I suspect Trump will blame the corporations suing for their stolen money back, and not the fact that he stole the money in the first place. This would throw the ball into the House and Senate GOP, who Trump would tell to make a new law to let him tariff however he chooses. They can't, the split is nearly 50/50 and Democrats have proven their willingness to shut down the government over far less than "Trump steals trillions, his words not ours, from American taxpayers".

But I suspect you're mostly talking about the sudden shock of the payments of large piles of cash that Trump will claim the government doesn't have. Maybe the money, or part of it, is in an account somewhere, maybe it isn't, but Trump claiming it can't be repaid will shatter the stock market and also cause a dumping ground of US debt. That's a crater, alright. And the only way out, Trump paying what he's obligated, is effectively impossible.

Now, I will say I don't know if I agree with @Poopymonster about this particular SCOTUS letting it go on the grounds of "too difficult to fix". That's a very dangerous legal prescident to set. You know what else is difficult to fix? Murdering someone. And a conservative SCOTUS probably doesn't want to go on record saying "returning the stolen money would be undue hardship" when there's 90-plus percent of the country struggling to get by, but with easy access to firearms.

And just to be clear, if this country is destroyed because it has to return stolen money, and no I don't think we're quite there yet, but if we are...it deserves to be destroyed. The United States is not the proverbial man who stole a loaf of bread to feed his family. Until recently, the US had an economy doing just fine with inflation lower than it is now, GDP growth and unemployment better than they are now, and job growth better than it is now. It didn't need to steal to stay afloat. It didn't need Venezuelan oil, Ukraine's rare metals, Greenland's resources, or hundreds of billions taken directly from American corporations and taxpayers on the grounds of National Security Lol. And if returning the $200 billion stolen in 2025 is what breaks us, then Trump has damaged the country to the point that it had to resort to crime to stay alive. Very fitting for Trump, but not for the USA. If that's what we've been reduced to, the world would be better off locking the door, closing the curtains, and turning off the lights, as if an unwelcome stranger has entered their neighborhood.

Because that's what we've become.

- - - Updated - - -

Trump was asked if he would leave NATO over Greenland.

He refused to answer.

Hey, remember when Trump said he's end the war in Ukraine in 24 hours? Now he's ready to leave NATO unless he's given an entire sovereign country filled with non-Americans who don't want to be Americans, and by doing such, worsen what's left of NATO's ability to defend itself in exactly the situation it was designed and built for.

Is Trump doing this because he's a senile old man, grabbing for a shiny object and becoming angry when told "no"?

Is Trump doing this to help Putin?

Is Trump doing this to distract from the fact that he's in the Epstein files?

I'm still waiting for a good explanation why Greenland was so critically important, yet Trump did literally nothing his entire first term.

1. Yes, he’s a dying old man that trying to make his “legacy”, my grandfather in his last years was similar.
2.yes, clearly trying to make joining BRIC more attractive/make Russia seem less of a villain.
3. Yes, trying to clear the news cycle when even the redacted release failed to turn the table.
As for your last point, he did make quite afew comments/attempts to buy Greenland the first time around. Thou he stoped from outright threatening to take it last time.

[Darththeo]

Trump was asked if he would leave NATO over Greenland.

He refused to answer.

Hey, remember when Trump said he's end the war in Ukraine in 24 hours? Now he's ready to leave NATO unless he's given an entire sovereign country filled with non-Americans who don't want to be Americans, and by doing such, worsen what's left of NATO's ability to defend itself in exactly the situation it was designed and built for.

Is Trump doing this because he's a senile old man, grabbing for a shiny object and becoming angry when told "no"?

Is Trump doing this to help Putin?

Is Trump doing this to distract from the fact that he's in the Epstein files?

I'm still waiting for a good explanation why Greenland was so critically important, yet Trump did literally nothing his entire first term.

No, he is an overgrown child grabbing for a shiny object and becoming angry when told no. The only difference is a child is easier to communicate with.

There is no explanation behind it. The reason Trump wanted a border wall wasn't to keep America safe, it was so people would call it Trump's Wall. The reason he wants Greenland is because it will be an area of land obtained under like other "great" presidents got. Trump is a being of pure ego and the problem is his supporters refuse to believe that he doesn't actually give a damn about them. His supporters for him are just to feed into his ego.

And I think he knows he is dying. His time is limited and he knows it, so he is going to do what he can to insure his name is forced to be remembered. Whether or not he is still aware of that desire of his ... who knows. The fact his choices benefit people who throw money at him is just a bonus because they'll throw more money.

[DarkTZeratul]

1. Yes, he’s a dying old man that trying to make his “legacy”, my grandfather in his last years was similar.

Let's be honest, Trump has been all about this bullshit even before he was a dying old man. He slaps his name on every fucking thing because he thinks it's his most valuable asset.

[Edge-]

And in yet more weaponisation of the justice department, the governor of Minnesota and Mayor of Minneapolis are being investigated for 'obstructing law enforcement' for comments they made after ICE committed murder in their state.

https://www.bbc.com/news/live/cwyg34...1dbdf8981#post

genuinely crazy how obviously and poorly weaponized this doj is after republicans spent years crying about it

thank fuck all the competent lawyers keep quitting and they're left with dipshits that keep getting functionally laughed out of court

[PhaelixWW]

genuinely crazy how obviously and poorly weaponized this doj is after republicans spent years crying about it

thank fuck all the competent lawyers keep quitting and they're left with dipshits that keep getting functionally laughed out of court

"The left has weaponized the judicial branch! Thank the Christian God that the Supreme Court is completely fair and unbiased ever since Trump stuffed it full of conservative judges!"

[Breccia]

Trump, having tried everything he could think of - giving Ukraine to Russia, letting Russia have Ukraine, letting Putin get what he wants, leaving NATO - gives up, and says Ukraine is the problem.

Trump told Reuters this week that he believes Russian President Vladimir Putin is “ready to make a deal,” but “Ukraine is less ready.” The president specifically named Zelensky as the person holding up the negotiations.

Ukrainian President Volodymyr Zelensky responded Thursday to accusations from President Trump that Ukraine was stalling a peace deal in the country’s ongoing war with Russia, saying his country will “never be a stumbling block for peace.”

“Ukraine has never been and will never be a stumbling block to peace,” Zelensky posted on the social platform X. “When Ukrainians are left without power for 20-30 hours because of Russia, and when Russian strikes are aimed at breaking our energy system and our people, it is Russia that must be put under pressure.”

In a video accompanying his post with captions translating from Ukrainian, Zelensky said he discussed “diplomatic efforts with America” during a recent phone call with NATO Secretary General Mark Rutte.

“It is Russian missiles, Russian ‘Shaheds,’ and Russia’s attempts to destroy Ukraine that are clear evidence that it is not agreements at all that Russia is seeking,” Zelensky said in the video.

This was never going to work and everyone, even the people who lied and pretended otherwise, knew it. Trump's only attempt at a plan was "Russia gets to keep everything unless Ukraine bribes me". No wonder he's trying that in Greenland and Venezuela. Trump has hurt the peace process by lying and pretending he could make it happen, then blamed the invaded country when "Give Russia everything" failed to work.

Speaking of things that will never work, Team Trump announces that banks will issue Trump Cards.

"...what?"

Don't worry, you won't have to know for long.

Kevin Hassett, the director of the National Economic Council, said the administration expects banks to voluntarily provide “Trump cards” to consumers, potentially circumventing the need for legislation to enforce the one-year, 10-percent cap called for by Trump.

“Our expectation is that it won’t necessarily require legislation because there will be really great new Trump cards presented for folks that are voluntarily provided by the banks,” Hassett said on Fox News’s “Mornings with Maria.”

The credit cards, he said, would be aimed at people in a “sweet spot” who have enough income stability to be credit-worthy but who don’t currently have access to credit.

“We’ve been in conversations with the big banks, with CEOs of many of the big banks who think that the president is on to something, that he’s got a great idea,” Hassett said, without providing much detail.

"Why didn't he provide any detail?"

Because the idea is pure fantasy. Let's look at the situation: Trump has been told, directly, that no, he can't force banks to drop their interest rates. Without outside force, they have remained high. Why would they voluntarily lose money? If lowering rates was good for banks, why haven't they done so already? Americans have proven they're willing to pay higher rates, and the banks hold all the options.

Then there's that hypothetical middle ground Hassett was talking about, this "sweet spot". Who are they? The people who need the most help won't qualify. And the rich don't, either. Who, currently, in America, is credit-stable, credit-worthy, but doesn't have access to credit? I think he's talking about "people with a job who have maxxed out and need more debt". Imagine telling the country that your solution to "we can't afford to keep living in America, even with a job" is "get further in debt, it will keep you afloat as long as Trump lives, after which we'll blame Democrats".

Let's continue with that idea. You have to apply for credit cards. They get to say "no". We've discussed that before, with mortgages. Banks have no reason to let everyone who applies for this magical card to give it to people they know will default, or more to the point, banks have no reason to let people shift their higher-interest payments to lower-interest ones if these people aren't paying.

And the banks have basically said so.

“We share the President’s goal of helping Americans access more affordable credit,” several banking industry groups said in a joint statement released Jan. 9. “At the same time, evidence shows that a 10% interest rate cap would reduce credit availability and be devastating for millions of American families and small business owners who rely on and value their credit cards, the very consumers this proposal intends to help.”

“If enacted, this cap would only drive consumers toward less regulated, more costly alternatives,” the group added.

Also known as 2008. Remember mortgage-backed securities? Even Trump remembers. Here's a description from fdic.gov to verify that. Smart people remember their history so they're not doomed to repeat it, and bank owners tend to be smart.

"Surely the House and Senate will quickly pass a law that will force banks to go against their self-interests, just before these House and Senate members run in a 2026 midterm election that they seem destined to lose."

Yeah, no

Republicans on Capitol Hill, including Speaker Mike Johnson (La.), have signaled little appetite for codifying the proposal. Johnson told reporters Tuesday that the House “ought to think about and investigate” it, suggesting the administration hadn’t thought the idea all the way through.

“Like everything else we, you know, you would need legislation to do something like that, and we’d have a lot of work to build consensus around it, but you got to be very careful if you go forward in that. In our zeal to bring down costs, you don’t want to have negative secondary effects,” Johnson said.

Once again, this isn't Trump's idea. Trump doesn't have ideas. Trump has excuses. "I wanted to give you a 10% credit card rate, but they wouldn't let me" says the person who claims he can fix everything. "They should have let me wave my magic wand and make everything better, despite how impossible it was."

[Twdft]

I'm sure Trump could lend people his own money at like 1% interest, why ask the banks to do it. He could rightfully claim all the publicity about it too!

[Gorsameth]

evidence shows that a 10% interest rate cap would reduce credit availability and be devastating for millions of American families and small business owners who rely on and value their credit cards, the very consumers this proposal intends to help.”

I call absolute bullshit on that. "evidence shows that we need to be able to trap people in permanent debt" fuck off.

[Dontrike]

Trump, having tried everything he could think of - giving Ukraine to Russia, letting Russia have Ukraine, letting Putin get what he wants, leaving NATO - gives up, and says Ukraine is the problem.

This is what(?) the the 30th time Trump has said this only to then flip back and forth every single week.

- - - Updated - - -

I call absolute bullshit on that. "evidence shows that we need to be able to trap people in permanent debt" fuck off.

The idea people "value" their credit cards is insane. It's not a trading card worth something, it's an anchor that drowns people.