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A fiscal cliff may be coming

Summary:
This is the last month for child tax credit payments and student loan repayments start in January.

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This is the last month for child tax credit payments and student loan repayments start in January.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

21 comments

  1. Poirier is a stud, but he gets submitted by Charlie in 4th. This bet will take care of my student loan debt payment for Jan and Feb. God bless.

  2. Mike do you know how much the Social Security increase will be?

  3. Too close to call. Usually, I pick a good grappler against a striker.

  4. New glasses Mike?

  5. 1:46 ya im gonna be fckd by the student loan payments. I'm pulling $40k from the markets q1 to retire my debt for good. I kno a ton of people that have to throw good money at student debt each month, been a drag on the economy for years

    • I don't plan to ever pay my shit off. Once reason I left tech to become a teacher. For the loan payoff from the feds….but I'm seeing now via 60 mins that they have a bunch of loopholes to get it forgiven.

    • @C Whiting ya there might be something for teachers. If u work in govt or certain nonprofits, u can get it forgiven over 10 years or something like that. I want to pay mine off b/c its a drag on my mental health, i just dont like being in debt + i dont want a monthly payment

    • @Gold Brick that's what I'm talking about. 60 mins was showing how like less than 1% of all people eligible get it forgiven. All kinds of loop holes and fuckery

  6. i see those as a sale of stocks in January 🤑

  7. “CBO projects the annual deficits will remain below $1 trillion until 2026 when they will once again top the $1 trillion mark.”

    Any thoughts on this? Seems a bit concerning.

  8. I would look for the child tax credit payments to get extended.

  9. I got Dustin Poirier, he should run over Charles Oliveira. I do not see this going the distance, I got Poirier winning by TKO in the 3rd.

  10. RRrrghhh, student loans coming due. Trump's Bible Belt Base should support a biblical #DebtJubilee, but they worship Mammon.
    … That defense on Steph Curry tonight tho!
    🏀🙅‍♂️🚧🚫🗑️

  11. Amanda Nunes fight was incredible

  12. Charles the dudes a anaconda

  13. Here in Australia we are seeing an increase of shop lifting and also homeless people on the streets and US is not different. A people are stealing food. Sooner or later this will reflect in economy numbers and then in the stock prices.

  14. Fiscal clify + Fed tighten = though 22 for stocks

  15. Is there a way to quantify the $ impact of the child credit and end of school loan moratorium?

  16. Thanks, Mike! Hope u have a good wknd!🥰

  17. "When you make a payment, the money does not stop at the servicer. The servicer is simply collecting it for the federal government and managing your account status. The money is then sent to the Department of the Treasury, since that is where the student loan funding came from originally."

    "Most student loans — about 92%, according to a July 2021 report by MeasureOne, an academic data firm — are owned by the U.S. Department of Education. Total federal student loan borrowers: 42.9 million. Total outstanding federal student loan debt: $1.59 trillion. Aug 19, 2021"

    Glad you're mentioning this, but as I've been commenting, it is a fiscal negative; the majority of student loan payments leave the economy. Since you eventually caught on to the student loan issue, maybe I should also start telling you that you can remove that sticker from your glasses!! 😂

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