UPDATE: Donald Trump Takes Office as the 47th US President

Dumbass BGOL MAGA still loves this clown.

Tariff war risks sinking world into new Great Depression, International Chamber of Commerce warns​


Summary


Joshua Kirby
Updated Tue, March 4, 2025 at 10:49 AM EST 2 min read
Tariff war risks sinking world into new Great Depression, International Chamber of Commerce warns

The world economy could face a crash similar to the Great Depression of the 1930s unless the U.S. rows back on its plans to impose steep tariffs on imports, a senior official at the International Chamber of Commerce warned.

“Our deep concern is that this could be the start of a downward spiral that puts us in 1930s trade-war territory,” said Andrew Wilson, deputy secretary-general of the ICC, which promotes global business and trade. High tariffs on foreign goods imported into the U.S. in that decade contributed to a damaging global recession. The downturn plunged nearly a third of the global workforce into unemployment and slashed production at heavyweight industrial economies Germany and the U.S. by half, according to research from the International Monetary Fund.

A Canadian coast guard vessel navigates the Detroit River which connects Windsor, Ontario, Canada, and Detroit, Michigan, U.S.

A Canadian coast guard vessel navigates the Detroit River which connects Windsor, Ontario, Canada, and Detroit, Michigan, U.S. - carlos osorio/Reuters

Most Read from The Wall Street Journal​

The likelihood of a similarly severe blow to the global economy is high, Wilson said in an interview Tuesday. “Right now it’s a coin-flip,” he said. “It comes down to whether the U.S. administration is willing to rethink the utility of tariffs.”

His comments come after tariffs of 25% on imports from Canada and Mexico came into effect in the U.S., stymieing hopes of an eleventh-hour reprieve. Fresh duties were also added to Chinese goods sold to the country. Trump has promised to impose similar tariffs on European goods, raising the prospect of retaliation in kind and a global trade war.

“That puts us in a remarkably precarious position that will cloud the global economy for the coming months,” Wilson said.

President Trump was voted into office in November after a campaign centred on pledges to protect U.S. manufacturers by raising the barrier for imports into the country from abroad. Trump has repeatedly pointed to the U.S. deficit in its good trade with many partners, including China and the EU, calling those gaps unfair. But economists warn that a steep rise in import costs could cause a renewed spike in price inflation in the U.S.

“There is a real risk to [American] domestic economy of taking a tariff-led approach,” Wilson said. Many U.S. trade-sensitive stocks suffered sell-offs Monday after Trump reiterated his tariff plans.

Write to Joshua Kirby at joshua.kirby@wsj.com

Most Read from The Wall Street Journal​



BGOL's MAGA members have reached a level of stupidity that makes whiteboytx seem like a genius.

I've said before, I completely understand if a person is a fiscal or social conservative or both but Trump is something else, and these idiots have allowed Tariq Nasheed to turn them into one-issue voters as it relates to Transgenderism and the pipe dream of reparations.
 
I'm not talking about white people and MAGA voters. I'm talking about getting Black and Latino middle class votes and men back voting to dems on the level they were for Obama. Dems need to focus on winning too. Everything they do needs to be focused on getting the 15 million of our voters that sat out the last election to vote the next time.

And RESIST is not goin to do it. Dems need to talk to them and address their needs.

This is the answer, Big Tex!! I've been hearing every kind of theory about what happened to the Democratic Party since November 6, and this is the answer!!!! Since 1968, the Democratic Party has been trying to be "Republican-Lite," trying to appeal to a group of people who left them in 1968 for Richard Nixon and George fucking Wallace, and that includes Obama, Harris, and especially Clinton. They constantly speak to "unions" and "the Middle Class," yet they literally will not utter the words poor or poverty in any of their messaging. Ever! Yet, that's the reality millions of their potential black and brown voters are living in all over Chicago, in Houston, in Newark, in Cleveland, in Gary, and in rural areas all over the country. While they are constantly going after "soccer moms" and union members, they won't even speak to the people who should be at the very heart of their voting base. Consequently, these folks stay at home, election after election after election. Dr. William Barber has been trying, without much success, to get the Democratic Party to spend more of their time and money targeting these folks, and they simply won't do it. Yet, these are the same areas Republicans relentlessly target for voter suppression year after year. They know these areas, if they are ever politically energized, would bring on their destruction. The problem is, the Democratic Party doesn't realize it.
 
the former Houston mayor (Sylvester Turner), that replaced Sheila Jackson Lee in congress has just passed away

Newly Elected Texas Congressman, Who Replaced Late Rep. Sheila Jackson Lee, Dies Hours After Attending Trump's Speech


Texas Rep. Sylvester Turner, the former mayor of Houston, died suddenly at 70 years old just two months after taking office

Texas Rep. Sylvester Turner, the former mayor of Houston, has died suddenly at 70 years old, just two months after joining Congress.

Current Houston Mayor John Whitmire announced Turner’s death at the beginning of a city council meeting on Wednesday, March 5, per local news reports.

According to Whitmire, the Democratic House member was taken to the hospital on Tuesday night after attending President Donald Trump’s address to Congress. He was later pronounced dead.


Arturo Holmes/Getty; Andrew Harnik/Getty


Arturo Holmes/Getty; Andrew Harnik/Getty
“This comes as a shock to everyone,” said Whitmire, as he asked that flags across Houston be lowered to half-staff. “I would ask Houstonians to come together, pray for his family, join us in celebrating this remarkable public servant. Celebrate his life, which we will be doing.”

“No one really knows how close Sylvester and I were,” he continued. “We’ve been together in good times and bad times. He asked me to speak at his mother’s funeral. I was there when [his daughter] Ashley was born, he was there when [my children] Whitney and Sarah were born.”

Brett Coomer/Houston Chronicle via Getty Then-Houston Mayor Sylvester Turner distributing relief supplies for Hurricane Harvey on Sept. 3, 2017


Brett Coomer/Houston Chronicle via Getty
Then-Houston Mayor Sylvester Turner distributing relief supplies for Hurricane Harvey on Sept. 3, 2017
Turner’s cause of death is still unknown. He was previously diagnosed with bone cancer in 2022, and underwent surgery and radiation treatment.



Turner was mayor of Houston from 2016 to 2024, and saw the city through Hurricane Harvey and the COVID-19 pandemic.

Marcus Ingram/Getty (2) Texas Rep. Sylvester Turner was elected to fill late Rep. Sheila Jackson Lee's longtime seat in November 2024


Marcus Ingram/Getty (2)
Texas Rep. Sylvester Turner was elected to fill late Rep. Sheila Jackson Lee's longtime seat in November 2024
He was elected to represent Texas's 18th congressional district in November 2024, following the death of longtime Rep. Sheila Jackson Lee, who was diagnosed with pancreatic cancer in June 2024.
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He was a lifelong resident of Houston, and attended the University of Houston for his undergraduate degree before studying at Harvard Law School.

Turner is survived by his daughter, Ashley Page Turner, and one grandson.
Read the original article on People






 
I bought this to go with a Steam-Punk outfit I did for last Halloween.
I think in Respect to Al Green,
I'm going to start using it more often.
:lol: :lol: :lol:
61YDe9yxUuL._AC_SL1000_.jpg


For Those Wondering,
It's a Rabbit's head due to My Chinese Horoscope sign
Asian Sista I used to date ages ago was extremely knowledgeable on that variety of Astrology
She still teases Me about it.


Detail on the cane was beautiful too.
So, I snagged it for My costume.
I guess we're skipping over the fact that you dressed in steampunk style... right :giggle:
 
This is the answer, Big Tex!! I've been hearing every kind of theory about what happened to the Democratic Party since November 6, and this is the answer!!!! Since 1968, the Democratic Party has been trying to be "Republican-Lite," trying to appeal to a group of people who left them in 1968 for Richard Nixon and George fucking Wallace, and that includes Obama, Harris, and especially Clinton. They constantly speak to "unions" and "the Middle Class," yet they literally will not utter the words poor or poverty in any of their messaging. Ever! Yet, that's the reality millions of their potential black and brown voters are living in all over Chicago, in Houston, in Newark, in Cleveland, in Gary, and in rural areas all over the country. While they are constantly going after "soccer moms" and union members, they won't even speak to the people who should be at the very heart of their voting base. Consequently, these folks stay at home, election after election after election. Dr. William Barber has been trying, without much success, to get the Democratic Party to spend more of their time and money targeting these folks, and they simply won't do it. Yet, these are the same areas Republicans relentlessly target for voter suppression year after year. They know these areas, if they are ever politically energized, would bring on their destruction. The problem is, the Democratic Party doesn't realize it.

This is how you give a damn take on why the Democrats continue to lose.
 
BGOL's MAGA members have reached a level of stupidity that makes whiteboytx seem like a genius.

I've said before, I completely understand if a person is a fiscal or social conservative or both but Trump is something else, and these idiots have allowed Tariq Nasheed to turn them into one-issue voters as it relates to Transgenderism and the pipe dream of reparations.

THIS......No issues if you are a conservative...Hell I am probably fiscally conservative in my views on wasteful spending, but MAGA on some whole other bullshit....
 



I understand many of you are upset and anxious about the recent activity around the IDR plans. I don't blame you. For what it's worth here's my speculation as to what comes next and why I think that way.

First - this is all happening because of the court injunction from February 18th. The reason this is affecting ALL IDR plans and not just SAVE is because the injunction required the ED to put the entire regulatory package on hold - not just the SAVE portion. And part of that regulatory package changed the way spouse's were treated in the family size when the borrower files taxes separately. It used to be that in that scenario (for the plans that allowed such a tax filing scenario to not count spousal income) to still use the spouse in the family size. So a borrower on IBR, PAYE or ICR who filed taxes separately could still claim a family size of two. The SAVE regulatory package made it so if you filed separately you couldn't claim the spouse in family size on any plan - so in the scenario above the family size would be one. They can't do that now - either temporarily or permanently remains to be seen. But that's why they had to pause ALL the plans. So this isn't something the current administration did to mess with people or cripple PSLF - it would have happened regardless of who was in office because it's due to the court injunction. If you want to see the rest of this regulatory package that's affected by this injunction you can find it here https://www.govinfo.gov/content/pkg/FR-2023-07-10/pdf/2023-13112.pdf

Remember - we don't know if in the end the courts will just kill SAVE or the whole package. And we don't know if they will permanently kill the forgiveness component of ICR and PAYE (which is not part of the package). But until the court process is over or until the injunction is lifted, the ED isn't allowed to do the things covered by this injunction.

One thing to add - it's possible Congress could end this on their own. If reconciliation goes through before the court process, and reconciliation kills SAVE, it's possible the rest of the package will come back and ICR/PAYE forgiveness will too. Not for sure, but definitely possible. Honestly that's what I hope happens. Reconciliation requires a savings of $330 billion from ED and Workforce spending. Killing SAVE "saves" $123 billion. If the court kills it before Congress can I'll be nervous as to where they go find that $123 billion.

Now - on to what how I think this could play out in the short term for the IDR plans. Short term meaning until this is settled either by the courts or Congress.

First..consolidations are still being processed. You can only submit via paper and with no idr application. So you can still consolidate..but may not be able to get that consolidation on an IDR right away.

I fully expect the ED to extend everyone's recert dates for those already on an IDR. At least everyone due in the next few months. There's no way they just let folks revert to standard or get kicked off their plan. There's zero political value and a lot of political peril for them to let that happen. Remember - both sides of the aisle have constituents with student loan debt. And they extended recerts in the past when there was a barrier to borrowers being able to fulfill this requirement.

I also suspect that they will treat this new pause in processing the same way as the last one. Processing forbearance for a few months then general forbearance if it goes on longer. https://studentaid.gov/announcements-events/save-court-actions I'm unsure about the interest as my read of the injunction is that they can't forgive interest - but I may be reading that wrong.

What I'm unsure about are borrowers trying to change plans or get on an IDR for the first time. Obviously nobody can do that while the form is down. Paper forms submitted now will not be processed. So if you are trying to get on a IDR for the first time now and need to or risk delinquency I recommend either exploring the non-IDR plans (graduated and extended) or request forbearance until we get further guidance.

Buy back rules are not at risk for PSLF. Different regulatory package. https://studentaid.gov/manage-loans...rvice/public-service-loan-forgiveness-buyback The plans themselves WILL be coming back. IBR and ICR are written into federal law. So even in the worst of worlds, the ED has to offer IBR and some form of ICR. IBR forgiveness is also not at risk - but the other IDR plan forgiveness components are as I mentioned earlier.

With that said, the wheels move slowly. It takes time for internal ED to meet with all areas - policy, legal, servicer oversight, IT, etc and think through all the things - then put together communication language to borrowers and vendors/servicers, then get that information out to everyone, then give the vendors time to code and implement. So it could be a few days or maybe even weeks before we see updated guidance or actions (assuming I'm right that this is what will happen). So for those that maybe didn't recertify on time and were due last week or this week or even maybe a few weeks from now - we may very well see people kicked off plans or reverted to standard. IF we do - I'm still not going to panic unless we get to say a month from now and nothings changed or been communicated about my assumptions above.

The IDR plan I think has the most legs for reconciliation is based off of the CCRA from 2024. You can read it here https://www.congress.gov/bill/118th-congress/house-bill/6951/text The proposal would mean only this new IDR plan and the ten year standard would be available to loans made on or after a date after the law was enacted. So all existing loans would still have access to today's plans. If Congress makes changes to the repayment plans, I fully expect it will be for new loans only.

As far as PSLF goes, I'm still not worried about it. I know there's a lot of people that are. But unless and until there's more than a vague "we should look at PSLF" proposal out there and one that actually starts getting debated in the committees I truly don't think it's a target - especially for existing loans. I'm a little worried about the proposal to make all hospitals for profit as that would have the unintended consequence for those employees for PSLF - but frankly the health care industry has such a strong lobbying force and funds, I'll be very surprised if this goes anywhere. But if you're worried - absolutely write your member of Congress and let them know the impact PSLF has and will continue to have.

Remember - we are at the stage of reconciliation where two things happen - they throw everything at the wall to see what sticks - and they often offer outrageous proposals so they can later concede to something that in comparison seems much less outrageous. Does it mean we shouldn't be paying attention? Absolutely we should be - but for stand-alone no detail line items that haven't been pushed robustly in the past, it might be too early to lose sleep over it. That's just my opinion of course. If you don't agree with me that's perfectly ok. But do a girl a favor and disagree with me in a way that isn't ugly. We should all be striving to maintain the ability to have reasonable discussions and debates about policy issues.
 
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