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re: Instead of trillions of dollars of “stimulus” why not just press pause
Posted on 4/10/20 at 11:28 pm to Golfer
Posted on 4/10/20 at 11:28 pm to Golfer
I’m not sure that the OP realized that when his bank lends his neighbor money that his bank is actually lending the neighbor OP’s money with a federally backed promise to give it back to him in the event he asks for it and that the group that backs that promise doesn’t have $13T+ to actually back all US deposits.
1
Posted on 4/10/20 at 11:45 pm to tiger09
All of this we're discussing doesn’t even take into account a bank like Ally, that’s publicly traded and holds $72B in auto debt. That now has to depreciate their entire collateral portfolio since they’ve just extended loans 6 months.
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