Political Discussions (2024)

[justbroke]

BKForum would like to limit all political discussions to this Topic.

We understand that we are living in very politically charged times of outrage and unrest.

No matter what your political views are, remember that our forum's primary purpose is to be the place to help each other to survive through the unprecedented tough times ahead of us.

Please keep all discussions respectful.

(moderators please merge any political topics into this topic)

[Barbisi]

What impact do you two bankruptcy gurus, justbroke and shipo, think the new Trump tariffs will have on consumers, inflation, imported goods, international travel, upcoming bankruptcy filings, and the whole economy (i.e. jobs and housing, etc.)
Your perspectives should be most enlightening.

[justbroke]

I moved your post here, since we like to keep political discussions away from the core bankruptcy discussions. I'm sure shipo has some things to say. Let me say this... it hasn't affected me yet and I'm not going to worry about the trade negotiation and strategies employed by incoming administration. That administration did the tariff thing the last time and we ended up with better trade agreements. I'm sure they are--and I am--hoping that the same strategy works and there is some pricing relief for all Americans.

I don't see any surge in bankruptcy filings other than from the economy we have today. Florida bankruptcy are likely to tick up a little due to the hurricanes. I suspect parts of the Southeast would have similar upticks in bankruptcy filings to save and protect homes if they can't get FEMA loans. (FEMA loans are not all that easy to obtain and many are sent to the SBA for EIDL loans. Those EIDL loans require a minimum credit score which is typically about 640+.)

[Barbisi]

justbroke, I had temporarily forgotten about the devastating hurricane impact on the Southeast. We just survived the historic PNW Bomb Cyclone which left many without electricity, hot water and heat for a few days and annihilated some homes with downed trees and power lines. We fortunately only lost power for nearly four days and managed to salvage all our food with one small working generator. We survived some frigid nights with a small electric heater solely powered by the same small generator. Needless to say, we definitely appreciated Thanksgiving in a whole new way this year.