Debt Rattle July 12 2020
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Berenice Abbott Broome Street, Nos. 504-506, Manhattan 1935 • Hong Kong Expert Leung: New Virus Strain 30% More Infectious (SCMP) • Chinese Vir
[See the full post at: Debt Rattle July 12 2020]“Color me surprised.”
Will Green, (the color of money), do?“Let the mass evictions begin.”
The declared winner will be …
renter
landlord
bank lender“Let the mass evictions begin.”
That was always going to be the outcome when prices can only go up. After 2008 why didn’t these people save money? Why do these people have children they can’t afford? Why do they have cars and toys they can’t afford? Why doesn’t anyone act responsibly for themselves? Because they aren’t living in reality, the illusion, and everyday we do not let prices correct it is only going to get worse. I’ve been pondering these issues for quite some time, dabbling on leftist sites and some more to the right. All kinds of different people who react and act in different ways, but one thing applies to both. The expectations or base reality must be the same for everyone for them to make decisions on, and until prices correct they will never make proper decisions
Why do banks still offer loans of 400,000 to someone who makes 40k a year like they did to the two gents who live below me?
During a freaking pandemic? You offer a loan of 400,000 to someone who makes 40k? And you wonder why someone of us questions this pandemic.
The god’s know, I hate to keep ragging on the U.S., however; their ignorant and stupid behavior makes it so fucking easy…
If they weren’t so blatantly hypocritical; I suppose I could be accused of taking cheap shots…nah…
It does appear they are now circling the drain…Here’s that address: https://www.google.com/maps/@40.7209452,-73.9978504,3a,75y,26.37h,90t/data=!3m6!1e1!3m4!1sKo28gphpvuWCCeLfx-m48w!2e0!7i16384!8i8192
He’s just giving Stone time to win his court case. Of course that looks bad, but look at Flynn. Won everything, most evidence public, judicial oversight ordered a dismissal, judge still won’t dismiss. But we haven’t had law in 100 years, why start now?
Why do banks offer? Because YOU, the taxpayer will bail them out. What do you have with all profit and no risk? Direct government transfer of money. Welfare queens. I guess we know who runs who… So anyway, they offer, foreclose the collateral, get a bailout anyway, and huh, weird, income disparity somehow increases. Oh, BTW, you can’t NOT take the loan you can’t afford, because the free-money bidding war drives prices up to reckless levels. You can either participate or live in a box in a district so crime-ridden you and your kids are killed.
Gosh, Herr Docktor, however does this happen? Only with direct and continuous support and force of the government. Even banks cannot do this behavior with their government bully backstop. But that’s okay, they use their free money to buy every person in government. Jackson did an audit of the 2nd National Bank and in only 20 years 99% of Congress was on the take. Imagine 120 years.
Anyway, if this is allowed, even the good and prudent men have nowhere to hide. Buy inflation. It’s the least-bad option.If the US$ is master, then what happens when we inflate, deflate, whatever? The world would have to decouple. To what? Something new, not government-backed currency. BTC, gold-trade, something else.
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