• The KillerFrogs

The Harris/Biden Administration: Coming Together to Build Back Better

HFrog1999

Member
HFrog1999’s guide to Building Back Better and fighting inflation

1. Don’t buy TCU tickets for the first time in over 20 years (you’re welcome to the people who got my awesome seats it took me a decade of upgrades to get)

2. Cancel all streaming services (there’s nothing good on anyways)

3. Cancel cable/satellite (it’s just my pillow, relief factor, and ambulance chaser commercials)

4. Don’t use credit cards (they’re essentially loan sharks who’ll tattle on you for buying guns/ammo)

5. Don’t eat lunch (we’re all too fat anyways)
 

FROG2597

Active Member
Surprised Jamie Dimon didn’t play the game but gotta hand it to him. What is the Bank of America person’s pronoun?
Well Chase, who I bank with, has played the game in certain situations and would not do business with Black Rifle Coffee company for the most idiotic of reasons.

 

FrogUltimate

Active Member
Well Chase, who I bank with, has played the game in certain situations and would not do business with Black Rifle Coffee company for the most idiotic of reasons.

All banks play the game to some degree. It's a balancing act of credit, reputational, legal and regulatory risk.... set exposure limits to all industries, etc.

Dimon's answer wasn't necessarily the entire truth, JPM certainly has guard-rails on O&G and enhanced reporting these days, but I think his answer was more of a statement against these idiot politicians who have no clue what they're talking about. If every single one of those banks had said, "sure we'll stop O&G lending today", price of gas at the pump in three months would be north of $10 going higher. It's lunacy and he responded as such.
 

Frog-in-law1995

Active Member
HFrog1999’s guide to Building Back Better and fighting inflation

1. Don’t buy TCU tickets for the first time in over 20 years (you’re welcome to the people who got my awesome seats it took me a decade of upgrades to get)

2. Cancel all streaming services (there’s nothing good on anyways)

3. Cancel cable/satellite (it’s just my pillow, relief factor, and ambulance chaser commercials)

4. Don’t use credit cards (they’re essentially loan sharks who’ll tattle on you for buying guns/ammo)

5. Don’t eat lunch (we’re all too fat anyways)

Gave up our seats, too. Was the only person to sit in 309, row 1 seat 1 at a post-renovation AGC game until Tarleton. Thought I’d be sadder about that once game day actually arrived, but turns out I didn’t really give a [ Finebaum ].

However, I use cards almost exclusively. Just pay them off monthly. No interest and you rack up travel points and an 850 credit score.
 

cheese83

Full Member
All banks play the game to some degree. It's a balancing act of credit, reputational, legal and regulatory risk.... set exposure limits to all industries, etc.

Dimon's answer wasn't necessarily the entire truth, JPM certainly has guard-rails on O&G and enhanced reporting these days, but I think his answer was more of a statement against these idiot politicians who have no clue what they're talking about. If every single one of those banks had said, "sure we'll stop O&G lending today", price of gas at the pump in three months would be north of $10 going higher. It's lunacy and he responded as such.
Banks trying to have morals is a funny thing, all just a show.
 

Bob Sugar

Active Member

Florida Lead GIF
 

Wexahu

Full Member
Rich people have been losing wealth/money like crazy over the past few weeks and are becoming less rich. I guess as a middle-class commoner that’s supposed to make me feel better and make life seem more fair, but I’m having trouble seeing how this is benefitting me. Can someone explain?
 

FrogUltimate

Active Member
Rich people have been losing wealth/money like crazy over the past few weeks and are becoming less rich. I guess as a middle-class commoner that’s supposed to make me feel better and make life seem more fair, but I’m having trouble seeing how this is benefitting me. Can someone explain?

Net net you should obviously not be feeling better (I know your post was more or less rhetorical)

However there are leading indicators showing that inflation should be quickly declining in coming months, meaning the day to day expenses should begin to level out, which we've seen with gas prices already.

The giant negative is that when rich people lose a lot of money, they are much less likely to invest (new jobs, wage growth), and become much more likely to batten down the expense hatches (layoffs).

If you can keep your job over the next 12-18 months and aren't dependent on markets, relief should be coming.
 
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