Another Stimulus Package?

[GAMEFINEST]

Looks like they are pushing another Stimulus package without the additional 600.00 per week on unemployment. Thoughts?

[The Porn Nerd]

Repugs don't want to give another dime. $1200 and that's it suckers. That additional $600 goes away in a couple weeks, then the foreclosures and evictions begin....fun times ahead.

Thanks Trump!

[pornmasta]

You don't create money by printing it. It will be paid by the inflation. I hope the pension of your old people is indexed to it....

[lock]

More coke and hookers.

[k0nr4d]

Repugs don't want to give another dime. $1200 and that's it suckers. That additional $600 goes away in a couple weeks, then the foreclosures and evictions begin....fun times ahead.

Thanks Trump!

Depends on what is in the stimulus package. Here part of ours is that they made it so banks have to let you defer any loan or leasing payments free of charge specially to prevent people defaulting on loans.

They can't allow mass foreclosures because it will cause a domino effect that will take out the whole housing economy.
- Bank forecloses on house (or factory or whatever)
- Someone becomes homeless, bank doesn't need the house so they put it on the market
- Market is flooded with houses. Less buyers because banks not as willing to give mortgages. Supply and demand = housing prices fall
- Those that WERE paying their mortgage are now underwater and may walk away, compounding the issue further.
- Banks profit projections take a shit, because they are selling houses at a loss and not making profit from interest rates that they projected when giving those loans.
- Banks require bailout.

The least disruptive thing is to bailout the banks and make a moratorium on loan repayments.

[The Porn Nerd]

Depends on what is in the stimulus package. Here part of ours is that they made it so banks have to let you defer any loan or leasing payments free of charge specially to prevent people defaulting on loans.

They can't allow mass foreclosures because it will cause a domino effect that will take out the whole housing economy.
- Bank forecloses on house (or factory or whatever)
- Someone becomes homeless, bank doesn't need the house so they put it on the market
- Market is flooded with houses. Less buyers because banks not as willing to give mortgages. Supply and demand = housing prices fall
- Those that WERE paying their mortgage are now underwater and may walk away, compounding the issue further.
- Banks profit projections take a shit, because they are selling houses at a loss and not making profit from interest rates that they projected when giving those loans.
- Banks require bailout.

The least disruptive thing is to bailout the banks and make a moratorium on loan repayments.

Yes but this is America remember, land of the idiots.

[k0nr4d]

Yes but this is America remember, land of the idiots.

Doesn't seem super far fetched for banks to be bailed out

Frankly if the stimulus package does NOT contain something like this it's a very clear sign that someone is actively trying to destroy the US economy entirely. The whole COVID situation over there is vastly different then here, and people don't need just money to live but also a reduction in their expenses if they don't intend to reopen the economy. Maybe the end game is to devalue the dollar to more production back there from overseas, although I don't know how well that work work as china/india/etc would just do the same to keep production there.

[The Porn Nerd]

Doesn't seem super far fetched for banks to be bailed out

Frankly if the stimulus package does NOT contain something like this it's a very clear sign that someone is actively trying to destroy the US economy entirely. The whole COVID situation over there is vastly different then here, and people don't need just money to live but also a reduction in their expenses if they don't intend to reopen the economy. Maybe the end game is to devalue the dollar to more production back there from overseas, although I don't know how well that work work as china/india/etc would just do the same to keep production there.

Not if bailing out the banks helps the average person. Bailouts for banks only go to the Execs, not the account holders. Have you BEEN to America?

There IS no "plan" dude, this is what I am saying. All sides have their heads so far up their asses it amazes me they don't get cancer of the rectum.

[jscott]

Bailouts, money printings, bankrupt companies giving bonuses to top execs, stock market performing better than ever while we're mid-pandemic, fcking corrupt and broken system