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Started By
Message
re: Instead of trillions of dollars of “stimulus” why not just press pause
Posted on 4/10/20 at 9:28 pm to TutHillTiger
Posted on 4/10/20 at 9:28 pm to TutHillTiger
quote:
Screw the banks for once! In
Then don't take out a loan then. Nobody forced you to borrow money. That was your decision.
1
Posted on 4/10/20 at 9:36 pm to LSURussian
quote:
Have you given this a lot of thought??
Posted on 4/10/20 at 9:39 pm to Hiyoka
quote:
No mortgage payments, car payments, loan payments in general,
No State shall ... pass any ... Law impairing the Obligation of Contracts.
The Constitution.
Posted on 4/10/20 at 10:11 pm to Golfer
quote:
Where do you think these lenders got money?
It doesn't matter. Pause their payback until things get back to normal.
Posted on 4/10/20 at 10:14 pm to Hiyoka
quote:
It doesn't matter. Pause their payback until things get back to normal.
And when you want to withdraw $2,000 from your savings account to cover monthly expenses that aren’t debt service? What happens?
Posted on 4/10/20 at 10:18 pm to Golfer
quote:
And when you want to withdraw $2,000 from your savings account to cover monthly expenses that aren’t debt service? What happens?
Umm, you withdraw $2,000 to pay for food or other services than aren't debt service. If you don't have $2K to pay for food then that's where government assistance can help out
Posted on 4/10/20 at 10:24 pm to Hiyoka
quote:
Umm, you withdraw $2,000 to pay for food or other services than aren't debt service. If you don't have $2K to pay for food then that's where government assistance can help out
But the bank isn’t receiving revenue or deposits. They don’t have your money.
This post was edited on 4/10/20 at 10:25 pm
Posted on 4/10/20 at 10:24 pm to Hiyoka
quote:
No mortgage payments, car payments,
Your home and car have no value to you? So, you won’t mind just giving them to me.
Posted on 4/10/20 at 10:30 pm to Golfer
Banks are federally insured for 95%+ of account holders. Any banks with cash flow issues to cover depositors cash balances will be backstopped. This would be an appropriate use of federal funds...what else you got?
Posted on 4/10/20 at 10:32 pm to borotiger
quote:
Then don't take out a loan then. Nobody forced you to borrow money. That was your decision.
Yes and then the entire world changed. Just pause dont forgive...suprised at the pushback here, especially from so many intelligent people. At least Im assuming they are intelligent by the smug and non-specific replies
Posted on 4/10/20 at 10:33 pm to Hiyoka
quote:
No mortgage payments, car payments, loan payments in general,
It’s effectively the same thing. The issue with stopping everything is there are too many things to stop. Think about all the monthly payments you have (e.g., Spotify, cable, etc.) that wouldn’t be covered. This way everyone gets their pay or close to it to continue their lifestyle until it is over.
Posted on 4/10/20 at 10:34 pm to Hiyoka
That’s not how the FDIC works...
Posted on 4/10/20 at 10:34 pm to Hiyoka
Posted on 4/10/20 at 10:38 pm to Golfer
quote:
Uhhhhhh. When the lenders run out of cash, what happens?
Screw the banks. Let's move forward with our plan that will collapse the economy worse. No more bills!
Posted on 4/10/20 at 10:39 pm to Kingpenm3
quote:
"Largest transfer of wealth in the history of the world" Thomas Massie
Check out Ron Paul's podcast with Massie.
Curious....what was Massie's take on things?
Posted on 4/10/20 at 10:41 pm to Hiyoka
Because some things can’t pause. What is a farmer to do with his crop? What happens when a faucet starts leaking? A house needs painting? Hospitals, utilities, entertainment, oil production, none of these can stop.
Posted on 4/10/20 at 10:44 pm to Hiyoka
So instead of the government bearing the burden to save people financially (which they have the ability to do), you’re going to bankrupt private financial institutions and lenders, landlords, property owners, credit card companies, etc by shifting the burden to them?
That sounds like a brilliant idea! You should quickly call the news station with your ideas! How are you not a world leader?? You sir, should run for office and save us from these Ivy League economist with their stupid educations and PhD’s who are advising the government. They don’t have your level of economic understanding.
That sounds like a brilliant idea! You should quickly call the news station with your ideas! How are you not a world leader?? You sir, should run for office and save us from these Ivy League economist with their stupid educations and PhD’s who are advising the government. They don’t have your level of economic understanding.
Posted on 4/10/20 at 10:48 pm to Hiyoka
quote:
Banks are federally insured for 95%+ of account holders. Any banks with cash flow issues to cover depositors cash balances will be backstopped.
That's not how it works
Posted on 4/10/20 at 11:00 pm to Hiyoka
quote:
Banks are federally insured for 95%+ of account holders. Any banks with cash flow issues to cover depositors cash balances will be backstopped. This would be an appropriate use of federal funds...what else you got?
Woof.
Posted on 4/10/20 at 11:13 pm to Jcorye1
quote:
Woof
OP doesn’t realize there’s around $10T in US deposit accounts that would need to be insured by the FDIC which has $125B in coverage
It also would mean the FDIC would take over every bank in the US in a matter of months.
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