quote:

Originally posted by old rugged cross:
did the court rule on tariffs yet?

The court heard initial arguments, no decision until Spring or as late as June.

quote:

Originally posted by chellim1:
Trump Announces $2,000 'Tariff Dividend' To Be Paid To Most Americans

President Donald Trump on Sunday announced that most Americans would receive a dividend payment of "at least" $2,000 - paid out of US tariff revenues.

"A dividend of at least $2000 a person (not including high income people!) will be paid to everyone," Trump posted on Truth Social, adding that tariffs have brought in "trillions of dollars," and that 401(k) accounts are the "Highest EVER." He also claimed that the tariffs had caused "No inflation."

"People that are against Tariffs are FOOLS!" he continued.

https://www.zerohedge.com/poli...-paid-most-americans

I love it. I can't think of any other government policy where the average US citizen profited so much at the expense of Foreign companies and governments.

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Ron Smith
https://www.zerohedge.com/poli...-paid-most-americans
@Ronxyz00
Bessent: The $2,000 dividend could come in in lots of forms. It could be just the tax decreases that we are seeing in the President's agenda— no tax on tips, no tax on overtime, no tax on social security, deductibility of older loans— those are substantial deductions.

LOL! You're not getting those checks

__________________________________

Well, poo!


An actual $2000 check made out to each person,
with attached simple instructions how to register and vote Republican Conservative Republican arriving 6-8 weeks before the midterm elections.

Yeah, that would be buy back a lot of votes from the dependent class.

quote:

LOL! You're not getting those checks

I'm in favor of tariffs.

I'm not in favor of helicopter money, sprinkled over the populous. I wasn't in favor of it during Covid, and I'm not in favor of it now. All it does is add to inflation.

Folks, we are $40 trillion in debt. The tariffs should be used to reduce the deficit so we don't have to borrow as much new debt.

^^^^^ THIS 100%!!!

quote:

Originally posted by chellim1:


The tariffs should be used to reduce the deficit so we don't have to borrow as much new debt.

Agree

Checks are a terrible idea, so is a 50 year mortgage. A 6% $300k mortgage for 30 years is $1798 a month, A 50 year is $1579, a $219 a month difference

quote:

Originally posted by BigSwede:
Checks are a terrible idea, so is a 50 year mortgage. A 6% $300k mortgage for 30 years is $1798 a month, A 50 year is $1579, a $219 a month difference

That, to me, is not the issue. The issue for me is the total amount of interest paid, vs. principle, over the life of the loan.

quote:

Originally posted by LS1 GTO:... The issue for me is the total amount of interest paid, vs. principle, over the life of the loan.

About $350,000.00 @30yr v $600,000.00 at 50 yr, and that is not adding in the extra years of PMI (Private Mortgage Insurance), the issue of not being able to refi for better rates for much longer into the loan, being upside down in the loan and the principal v interest on the front end will likely see greater defaults and "everything lost" by homeowners aging into financial and health issues.

Several loans I have had, I bought one home for $147k at 3.5% (20 yr) paid it threw almost all my discretionary at it, sold it 5 years later for $285, and bought another house for cash (where I live).
Another home was $169K at 5% (20 yr) 16 year payoff, value is $300k, and saved nearly $55k interest.

The "mountain" of a 50 year mortgage would be so daunting, most people would not even try to pay extra, especially early on being mostly interest as it would seem futile.

This effectively is transferring "ownership" of the home to the lender and being a contracted tenant with an "upside down" asset chained around their neck.

And vehicles will likely follow suit with 10-14 year or more loans, as 9 year loans are now a thing, also amortized against a buyer's benefit, with increased insurance over the life of the loan, and costs of repairs, resell, or the likelihood of vehicle failing to be usable through the life of the loan. And

There is no worry for myself in any of this, but the "foreboding" for the young people, is a concern.

I may be incorrect in that analysis, but I don't see an upside to it.

$2000 per person? Wouldn't that be nice!

NOT!

As much as I could use it right now (several extraordinary expenses the last few months), I remember well what happened to the covid money. I got $1200, took the car in for an oil change and tire rotation, the stealership told me I had a leaky transmission and took $1300.

There were businesses all over the area (DeKalb, IL) scamming like that, so I don't think very many people got use of that first check. My Postmaster's husband, for example, had a similar experience at another Chevy dealership in the area.

Pay down the National Debt this time!

I love how he's constantly trolling the Left and keeping them perpetually foaming at the mouth all while he gets shit done

President Donald Trump wants the Washington Commanders to name their planned $3.7 billion stadium after him, multiple sources with knowledge of the situation told ESPN

Covid dollars and tariff dollars are fundamentally different.

Covid "stimulus" was simply printed. Tariff dollars represent actual value as its attached to commerce.

quote:

Originally posted by sigmonkey:

quote:

Originally posted by LS1 GTO:... The issue for me is the total amount of interest paid, vs. principle, over the life of the loan.

About $350,000.00 @30yr v $600,000.00 at 50 yr, and that is not adding in the extra years of PMI (Private Mortgage Insurance), the issue of not being able to refi for better rates for much longer into the loan, being upside down in the loan and the principal v interest on the front end will likely see greater defaults and "everything lost" by homeowners aging into financial and health issues.

The "mountain" of a 50 year mortgage would be so daunting, most people would not even try to pay extra, especially early on being mostly interest as it would seem futile.

This effectively is transferring "ownership" of the home to the lender and being a contracted tenant with an "upside down" asset chained around their neck.

The same things were said when 15 year mortgages gave out to 30 year and 2 year car loans gave out to 4 year. No one would pay a 50 year mortgage to term. The beauty of a fixed rate mortgage is both pay raises and inflation reduce the monthly payment relative to income. You can always refinance to a shorter term later, or pay extra principle at any time. One cynic said a 50 year mortgage is a short position against the dollar.

I think this is better than variable rate loans with teaser rates, interest only loans, and the other junk that cause the 2008 crisis. Because at the very least, the payment will not go up unless you refinance.

The Fed is screwing the country by not lower interest rates in line with other countries. It is obvious there is an aversion to doing anything that might make Trump look good.

Oh and as for car loans, they have gotten longer as cars last longer. Doesn't make sense to have more than a 4 year loan when cars were barely able to survive that long without major problems. Now that many cars last 10 years, 5 or 6 year loans are more acceptable.

The average length of a mortgage as determined by when it's paid off in the US is 7 - 12 years, nobody, well mostly nobody stays in a home for the full term of the loan to 30 years, much less 50.

Link

People either grow tired of their house, their families grow bigger, and they need a larger home or couples go through a divorce. The other major reason is if interest rates fall, and you have an opportunity to move to a lower rate and payment.

The reason 30 years is popular is the lower payment, if the 50 year will lower payments by $219 and helps them afford a home that's a good thing.

Thinking in terms of your grandparents buying a house and living there until they die, well, that is old school, reality is it's not the norm in the US.

They bank on the average value increase of the property to create equity and sell and move up or on.

Most folks don't stay in their home for life anymore, and, with the high price of buying, and that Blackrock and the Chinese have bought up all the homes, many can't afford the higher payments of 15, 30 year terms.

All the interest costs and lifetime calculations of how you'll never pay it off, for the masses, really doesn't matter that the numbers don't lie but in the normal case of these things, it's meaningless since for the most part, nobody goes to full term anyway.

If you need a 50 year house loan or a 10 yr car loan you can afford neither. Ludicrous.

https://www.newsmax.com/politi...dkt_nbr=010502ctuofa

Trump Warns Supreme Court on 'Devastating' $3T Tariffs 'Unwind'

In his latest warning aimed at the Supreme Court, President Donald Trump said that unwinding his tariff policy by giving in to litigious obstructionists would be an "insurmountable national security event" that could "devastate" more than $3 trillion in U.S. wealth.

"The U.S. Supreme Court was given the wrong numbers," Trump wrote in an early Tuesday morning Truth Social post. "The 'unwind' in the event of a negative decision on Tariffs, would be, including investments made, to be made, and return of funds, in excess of 3 Trillion Dollars.

"It would not be possible to ever make up for that kind of a 'drubbing.' That would truly become an insurmountable National Security Event, and devastating to the future of our Country – Possibly non-sustainable!"

Trump has issued several warnings in recent days to warn the Supreme Court about undoing his tariffs.

He has also teased $2,000 checks to American taxpayers, a paying down of the $38 trillion national debt, curbing of global trade abuses of American taxpayers, and the leveraging of trade and tariffs to end foreign wars.

"All money left over from the $2000 payments made to low and middle income USA Citizens, from the massive Tariff Income pouring into our Country from foreign countries, which will be substantial, will be used to SUBSTANTIALLY PAY DOWN NATIONAL DEBT," Trump wrote Monday morning on Truth Social. "Thank you for your attention to this matter! President DJT."

The promise of $2,000 tariff-income checks to American taxpayers is similar to the vow to return Department of Government Efficiency-cut government spending, which never came.

Trump hailed his use of tariffs to rebalance global trade and provide for U.S. national security, despite Democrat efforts to unwind them. The Supreme Court heard his administration's case last week, focusing on whether tariff authority should remain with the president.

"So, let's get this straight??? The President of the United States is allowed (and fully approved by Congress!) to stop ALL TRADE with a Foreign Country (Which is far more onerous than a Tariff!), and LICENSE a Foreign Country, but is not allowed to put a simple Tariff on a Foreign Country, even for purposes of NATIONAL SECURITY," Trump wrote Sunday morning on Truth Social.

"That is NOT what our great Founders had in mind! The whole thing is ridiculous!

"Other Countries can Tariff us, but we can't Tariff them??? It is their DREAM!!!

"Businesses are pouring into the USA ONLY BECAUSE OF TARIFFS. HAS THE UNITED STATES SUPREME COURT NOT BEEN TOLD THIS??? WHAT THE HELL IS GOING ON??? President DJT."

Trump's argument was presented to the Supreme Court by U.S. Solicitor General D. John Sauer in a hearing last week.

The arguments at the high court focused on whether a 1977 law called the International Emergency Economic Powers Act gives Trump the power to impose tariffs.

Every lower court to consider that question has ruled against Trump, but they let the tariffs remain in place while the litigation made its way to the Supreme Court.

"People that are against Tariffs are FOOLS!" Trump wrote in another weekend Truth Social post. "We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k's are Highest EVER.

"We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion. Record Investment in the USA, plants and factories going up all over the place."

That national debt surpassed $38 trillion in the days since the Supreme Court hearing, despite Trump's best efforts to enrich America through the tariffs.

quote:

Originally posted by HRK:
People either grow tired of their house, their families grow bigger, and they need a larger home or couples go through a divorce. The other major reason is if interest rates fall, and you have an opportunity to move to a lower rate and payment.

Most folks don't stay in their home for life anymore, and, with the high price of buying, and that Blackrock and the Chinese have bought up all the homes, many can't afford the higher payments of 15, 30 year terms.

All the interest costs and lifetime calculations of how you'll never pay it off, for the masses, really doesn't matter that the numbers don't lie but in the normal case of these things, it's meaningless since for the most part, nobody goes to full term anyway.

Or neighborhood goes to shit due to factors such as local politics, crime, aging infrastructure causing local businesses to leave.

When I was a residential building superintendent in Orlando years ago, the first community I worked in had 60 homes. 20 already had people living in them, 20 were being built without buyers lined up, and 20 were being built with Chinese money. These were $600,000 homes; I looked at the names of buyers and it was a Chinese investment group. They hired a little Chinese lady who drove by once a week to check on the progress of the homes. We always did a final walkthrough and her attitude was basically "good enough, I need to get these listed for rentals."

I have no problem with a 50-year mortgage if that is the right tool/product for an individual or a couple to achieve their goals.

If you do not need access to a 50-year mortgage, then why does it matter to you?

I am signing papers today for a 30-year on my dream retirement home that we are building. I am 53. I could write a check for the full amount today, but I am taking a 30-year to hedge my bets that rates will continue to drop and to allow my money to stay in a hot market. I could just as easily sign for a 15-year, but the 30 is what positions me the best for what I am trying to do.

As long as the borrower meets the conditions of the loan and meets the risk requirements on the day they sign the loan, then who cares. After all, the day after the papers are signed it is a crap shoot. A debtor could lose their job, die, get divorced, have to relocate, etc. It does not matter how big or what kind of loan you get, anything can happen on day 2 and it can all go to crap.

This message has been edited. Last edited by: bozman,

DJT just did a fantastic live phone interview on Pat Mcafee’s ESPN show, I don’t have a link because it just happened but worth listening to on YouTube. 47 is the greatest President any of us will ever see and it probably won’t be close!

quote:

Originally posted by old rugged cross:
If you need a 50 year house loan or a 10 yr car loan you can afford neither. Ludicrous.

Meanwhile at Fannie Mae

Fannie Mae set to drop its 620 credit score minimum



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