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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 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 11:28 pm to Hiyoka
IIRC, wasn’t this a plot device in one of Tom Clancy books? ‘The Bear and the Dragon’??
Idea! Let’s stop the clock on March 14, and allow Hiyoka fall into the role of POTUS!
Sorry/not sorry for the spoilers.
Idea! Let’s stop the clock on March 14, and allow Hiyoka fall into the role of POTUS!
Sorry/not sorry for the spoilers.
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.
Posted on 4/10/20 at 11:53 pm to Hiyoka
They did forbear my student loan payments until November. They're not super high interest to begin with, but they all show as zero interest now and I'm going to drop some serious payments as much as I can during this time.
Posted on 4/10/20 at 11:53 pm to Hiyoka
Are you saying banking has no cost of production?
Posted on 4/10/20 at 11:57 pm to Hiyoka
quote:
No mortgage payments, car payments, loan payments in general, the only things we need to actually buy that have a cost of production are things like food, medicine, certain services so just have people pay that or give subsidies to support actual essential costs of living.
That sounds like a great way to crash the world economy.
Posted on 4/11/20 at 12:01 am to Hiyoka
quote:
Hiyoka
When you started this thread, did you think that you were just that much smarter than the rest of the people running this country? And that you came up with this brilliant idea, that they were too stupid to think of?
How much did this crash down from the clouds you were on hurt, when you were informed how dumb your post is?
Posted on 4/11/20 at 12:17 am to Hiyoka
Posted on 4/11/20 at 12:47 am to wadewilson
quote:
What are businesses actually getting in the stimulus?
Will be given business loans to cover payroll which will eventually be “forgiven”. I’m hearing at least 50% will never be forced to be paid back. Some businesses are applying for the loan and their business hasn’t been affected one bit.
Posted on 4/11/20 at 10:12 am to LSUnivFan
quote:
IIRC, wasn’t this a plot device in one of Tom Clancy books? ‘The Bear and the Dragon’??
Kind of, and I don't think it was the Bear and the Dragon, it was Debt of Honor I believe.
In that situation, they scrambled the stock market computers, so nobody knew what actually happened... So they just set it back. Still stupid, but at least a little understandable.
Bear and the Dragon involved a pandemic though, and some very pissed off Americans.
Posted on 4/11/20 at 10:30 am to Hiyoka
Why not send out gift cards and tell people to use the cards for essentials and just stay home
Posted on 4/11/20 at 10:33 am to Hiyoka
A lot of fricking idiots in this thread that don't understand basic economics.
"Oh the banks and government have plenty of money! They won't ever run out!"
Morons
"Oh the banks and government have plenty of money! They won't ever run out!"
Morons
Posted on 4/11/20 at 11:41 am 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
Posted on 4/11/20 at 11:47 am to tigerbutt
quote:
Will be given business loans to cover payroll which will eventually be “forgiven”. I’m hearing at least 50% will never be forced to be paid back. Some businesses are applying for the loan and their business hasn’t been affected one bit.
I wonder which 50% will never have to be paid back, and how much they donate to political campaigns.
Still, I don't really see the problem. Everybody gets bailed out, and when they do finally let us go back to work, the economy can almost pick back up where it left off.
Still, the way the national debt has skyrocketed under Obama and Trump, we're going to pay for this in a nasty way at some point.
Posted on 4/11/20 at 11:56 am to Hiyoka
quote:
No mortgage payments, car payments, loan payments in general, the only things we need to actually buy that have a cost of production are things like food, medicine, certain services so just have people pay that or give subsidies to support actual essential costs of living.
Sweet Jesus are their actually people who think this would work without a total destruction of the entire banking system?
Just pause everything and pick up back up again in 2 months? Sigh......
This post was edited on 4/11/20 at 11:57 am
Posted on 4/11/20 at 12:00 pm to Golfer
Banks and the Treasury work together with Fanny and Freddy. 6 months deferred notes added on to the back of the note. Fed ensures bank liquidity for those six months. Gets some of that money on the backside as the note is paid off
It’s cheaper than having to recapitalize the financial system on the back end
It’s cheaper than having to recapitalize the financial system on the back end
Posted on 4/11/20 at 12:03 pm to Hiyoka
Because then that would benefit the people that actually contribute to the economy the most. Can’t put income restrictions on commerce.
Posted on 4/11/20 at 12:05 pm to Kingpenm3
quote:
"Largest transfer of wealth in the history of the world
Posted on 4/11/20 at 12:06 pm to Hiyoka
quote:
why not just press pause
I'd just turn it off and then back on again. If that doesn't work, I'd unplug it and wait five seconds and plug it back in.
Posted on 4/11/20 at 12:20 pm to Hiyoka
quote:
Hiyoka
You are very low IQ
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