US Joe Biden News Megathread - The Other Biden Derangement Syndrome Thread (with a side order of Fauci Derangement Syndrome)

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Let's pretend for one moment that he does die before the election, just for the funsies. What happens then? Will the nomination revert to option number 2, aka Bernie Sanders? Or will his running mate automatically replace him just the way Vice-President is supposted to step in after the Big Man in the White House chokes on a piece of matzo? Does he even have a running mate yet?
 
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Jimjamflimflam said:
Yep. Say what you will about Marx but he was 100% right about history being a series of class war.
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He was just wrong about the class we should be at war with.

Instead of (DA RICH) we should be stringing up the dumb fucks who sit in office their entire life and don't work a real job.
 
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I love watching Biden talk about all of these wonderful international agreements that he's signed us up for or proposes to do so in the future. Mostly because I remember when binding international agreements were called 'treaties', and they required the agreement of 2/3rds of the United States Senate to implement.
 
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Oxous said:
In today's Evergrande news, it seems like we've - finally - hit the fun part. Evergrande stopped making payments to banks Monday and the Chinese government still isn't doing anything.
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Xi will always act to preserve his own power.

They can't bail it out because they promised no company would be too big to fail, and a bailout would show that the property bubble is real and China is vulnerable, which wouldn't do.
But leaving it to burn is dangerous, particularly if it spirals into market collapse.

Personally I think that even if the west isn't exposed, directly, it is exposed in the effort the productivity and instability this might generate, the West will likely get dragging into a slide too, if only started by trying to cover for loses in China.

Great Depression 2 electric boogaloo soon maybe

(If that happens ima start thinking we've seen this story before and we know how it ends)
 
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I'm betting an economic setback in China will be worse than something equivalent happening in the US. We in the US have seen recessions, we've seen the stock market crash, we've lived through economic bubbles popping. No one's ever happy about it, but panic is kept to a minimum because we've been there, we've seen it, we've lived through it.

China is a different kettle of fish. Modern China has gone from increase to increase. There's an entire generation that has never seen their market falter, never seen their GDP decrease, never seen an economic bubble burst, and have never seen a market crash. The instinct of quite a few Chinese will be to panic. It's a natural reaction, and it always makes a crash so much worse. The Chinese government's hamfisted reactions certainly won't help. They have always been big fans of using a sledgehammer when a scalpel is the obvious choice, they'll probably do the same thing here.
 
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Jimjamflimflam said:
I totally understand it but can some explain to the brianlets how an American would be effected by the chink housing market collapsing.
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Money is international and loans can be too. Evergrande takes out loans in which they receive a lump sum of cash and are required to pay it back over time plus interest. These loans likely aren't issued only by Chinese citizens and companies. Now we have companies and groups around the world that gave Evergrande these loans because they had some fat interest rates. These groups will now not be receiving the interest payments they expected and will now be fully in the hole for however much they loaned Evergrande to construct shit in china. Evergrande might just be dissolved and liquidated by this event but that won't be enough to cover the losses that will be incurred from the failure to pay the loans since some building projects by Evergrande will now not be completed. Also because of the size of this company there might be other companies who loaned them money but have their own liabilities they need to pay off but now won't be able to because they're not getting their loan paid back. This leads to a wider collapse stemming from Evergrande as a whole.

Analogy: You gave your neighbor a loan so that they could construct a shed. They miss interest payments to you on that shed but the shed is either built or in a state of being built. You might be able to take the shed but there aren't enough sheds to cover everyone who loaned your neighbor money to build them and they won't return nearly as much as you invested. So now people may be losing their houses since their mortgage payment was supposed to be fed in part by the loan repayments your neighbor was supposed to hand out.

That's a simple way to put it but I may be missing some finer details
 
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Lester Jones said:
If anyone is interested of listening, Biden is speaking live at the UN General Assembly right now:
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I tried for like 2 minutes and then he started doing a series of 'what will we do?' questions while blaming anything that happens in nature on Climate change. Heat wave? Climate change. Hurricane? Climate change. Drought? Climate change.
 
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gaystoner said:
I tried for like 2 minutes and then he started doing a series of 'what will we do?' questions while blaming anything that happens in nature on Climate change. Heat wave? Climate change. Hurricane? Climate change. Drought? Climate change.
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Well when you get people who think if only they controlled everything things would be perfect it tends to bleed over into things that they have no control over.
 
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