Pretty soon we're are going to get paid to borrow money!
Bank of Canada slashes key interest rate to 0.25%
Bank of Canada slashes key interest rate to 0.25%
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What would have happened if we had just put mortgages, credit card debt, cars, etc etc. big debt items and suspended their payments for 60 days across the board. Or force interest only payments during that time?
Right now we print money -> give to people -> they make payments -> money consolidates back to these debtors.
Would it have cost us less to do that kind of thing than pay people to make sure they can make these payments on time? What harm would occur that isn't already occuring?
meanwhile unemployment payouts are gonna be insane
still good here
but I am rewatching the same old shit
yep
with no ability to earn and craploads of bills the 1200 to 3K isn't gonna do jack for a lot of folks
gon get ugly real fast
It depends what you do with repayment once that 60 days is up. Is it due? Does it need renegotiating? Wack it on the end?
Rich guy buys hospital sells it to developers. Demands payment from city to open it for covid19 overflow.
View: https://twitter.com/katherinefritz1/status/1243236312980865026?s=20
View: https://twitter.com/katherinefritz1/status/1243236312980865026?s=20
Yeah the US is going to need multiple stimulus packages. At least 2 depending on the next one according to all the economists I follow on twitter.
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That looks like the third property brother
The interest only thing it what they're doing up here. When I asked my bank about what happens with mortgage/interest last week they got really cagey about what the actual cost would be to the individuals forced to put their mortgage payments on hold.
My personal opinion. This is a situation caused by the government(s), I'm not saying they're wrong for doing it, but it's various levels of government forcing people out of work. It should be their responsibility to clean up the mess, they shouldn't be downloading the costs to the people least equipped to deal with it.
*I realize I haven't addressed the idea of a literal payment suspension, but what would happen is the banks would say "Go fuck yourself, I'm more than fine with foreclosing if there's nothing in it for me."
The building has refurbished hardwood doors
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Seems this is all largely an issue of temporary lack of cash flow. Not a permanent loss of demand. As such my first inclination is simply to tack it on the end. You still owe the money. We just bump it back.
This seems like a significantly easier way to keep liquidity going, keep people with money in their pockets for basic goods, and minimize inflationary monetary policy.
But this is me just sort of brainstorming while I'm goofing off
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Of course the city has to pay to turn it into a covid19 overflow center. Look at that shiplap, Chip!
Shortly after the U.S. death toll from the coronavirus pandemic reached 1,500 on Friday, President Donald Trump took to the podium at a White House press briefing and complained that certain state’s governors are not “appreciative” enough of the federal government’s help—so much so that he said he’d told Vice President Mike Pence, the leader of the coronavirus task force, to skip calling governors of some hard-hit areas.
Trump singled out the Democratic leaders of Washington and Michigan, noting that he had advised Pence not to call them as the healthcare crisis plagues their states and people fall sick and die.
“He calls all the governors,” Trump said. “I tell him, I mean, I'm a different type of person. I say Mike, don't call the governor of Washington, you're wasting your time with him. Don't call the woman in Michigan.”
“If they don't treat you right, I don't call,” Trump said.
Trump singled out the Democratic leaders of Washington and Michigan, noting that he had advised Pence not to call them as the healthcare crisis plagues their states and people fall sick and die.
“He calls all the governors,” Trump said. “I tell him, I mean, I'm a different type of person. I say Mike, don't call the governor of Washington, you're wasting your time with him. Don't call the woman in Michigan.”
“If they don't treat you right, I don't call,” Trump said.
I can't help but wonder if the above quote is considered "fake news". Because surely he wouldn't mess with karma based on an ego stroke. Would he? Has to be fake..... right?
Namaste
I don't know comrade, that sounds like some pretty far out leftism to me. Have you told your friends down at the yacht club that you are trying to establish an agrarian Maoist people's dictatorship?
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Oh I owe the bankers right now too. I'm just trying to start a populist uprising on my behalf so that I cannot pay them for a little while.
I know so many with big loan payments...hurts to think about.
I have 2 low mortgages to pay but that is the extent of my overhead really, plus I am working still.
Some of the doctors i work for are paying huge overhead per months, not sure how it will shake out for them if lockdown goes on for too long without some sort of waiving of payments and debts to creditors...super sketchy to think about.
A friend of mine is one of three founding partners (and the biggest financial backer) of a large, multi office general pediatric practice (6 offices, around 40 MD’s). Outpatient visits are suddenly down 50-60%. Not good.
my wife gave me a hard time about the 5lb bag of carrots I bought.The photo doesn’t do enough justice to the size of the bag of these carrots
fuck sake.
bish i love carrots. back dafuq up.
Carrot soup is great, easy to make and freezes well.