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Joint Discussion: How long can "indefinitely" last?

What hit?

Their income on a mortgage payment is the interest which they would still be receiving.

Or at the very least there would be less defaults
They use the principal repayment to lend back out. If you don't pay the principal back as agreed they have less money to lend, which means they make less money.
 

SW48

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They use the principal repayment to lend back out. If you don't pay the principal back as agreed they have less money to lend, which means they make less money.
Yes but interest only for a short period is better for a bank than getting back a house they lose money on
 

SW48

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Yes but interest only for a short period is better for a bank than getting back a house they lose money on

i put 85k down on the house and added 100k improvements

and because of the loss of value would have to write a 30k check to the bank to sell it.

so selling isn’t an option.
 

SW48

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cutting a 30K check is lot smaller loss than losing your entire home equity.
I guess you didn't read any of my posts in this thread.

There is no equity. I put 85k down payment. I added 100k worth of improvements (finished the basement, added 500 square feet onto the great room), and I paid on the house for 21 years. And yet to sell the house I would have to write a 30k check to the bank when it sold.
 

Days

Commentator
I think it's entirely irresponsible to have things closed "indefinitely". I think you set tabbed markers of when to look forward to, and then reconsider. Trump did that with Easter (the media freaked out as if he was 100% literal and not just throwing a branch of possibility and hope, but that's another issue)

But this is mainly in regards to the economy. Loss of life and the economy are not mutually exclusive. If you purposefully nuke the economy, you're going to cause not only massive suffering but death in areas. Infrastructure supports human life, and infrastructure can only last so long when you're purposefully de-monetizing it.

What's the answer? I don't really hear any. Keep printing money until my $1 becomes 25 cents? How can the government expect to withhold civil liberties for an "indefinite" amount of time? I think the populace will play ball for a defined period, but man, some of this talk coming from governors and such.. they expect all of us to just stay locked away for 6 months if we have to... I've got news for them, that's not going to probably happen.

What do you think?
Not just civil liberties, but the pursuit of happiness... also known as the right to work.

10 million people filed for unemployment in the past 2 weeks. That number will double in another 2 weeks, basically, the system is only capable of processing 5 million per week.

How many millions can lose their job before we have a revolution? That's a serious question, one the government should be looking at.

If i had to guess - and that's about all you can do at the moment - I would say 100 million Americans have been/are being laid off due to this social distancing experiment. There is no precedent for that... nothing even close.

End of April comes and they don't put an end to this moratorium on living... there will be riots.

So, how about the K-12 schools? How do they grade the final semester? How do they decide who gets to graduate? I haven't heard a word about it.

Another deal, when you close so many eateries, the burden of food supply shifts to the grocery markets. So that traffic increases. Okay, they had to shut down the grocery stores in Italy for 3 weeks, I think it was, because the virus was still able to spread in the stores. Banning shopping bags in San Francisco isn't going to get it done, what happens when the CDC recommends shutting the grocery stores down?

It is still early, people have not lost their patience yet. But it is a well known phenomenon with humans that they go stir crazy, they get cabin fever, and when that happens, it is going to get ugly. Indefinitely is not going to get it done forever, in fact I would say, indefinitely is like setting a ticking bomb ... at some point soon, this nonsense has to end.

 
Not just civil liberties, but the pursuit of happiness... also known as the right to work.

10 million people filed for unemployment in the past 2 weeks. That number will double in another 2 weeks, basically, the system is only capable of processing 5 million per week.

How many millions can lose their job before we have a revolution? That's a serious question, one the government should be looking at.
How would a revolution bring jobs back?
If i had to guess - and that's about all you can do at the moment - I would say 100 million Americans have been/are being laid off due to this social distancing experiment. There is no precedent for that... nothing even close.
That's a reasonable guess for the unemployment
End of April comes and they don't put an end to this moratorium on living... there will be riots.
So how to prevent that?
 

SW48

Administrator
Staff member
Supporting Member
Not just civil liberties, but the pursuit of happiness... also known as the right to work.

10 million people filed for unemployment in the past 2 weeks. That number will double in another 2 weeks, basically, the system is only capable of processing 5 million per week.

How many millions can lose their job before we have a revolution? That's a serious question, one the government should be looking at.

If i had to guess - and that's about all you can do at the moment - I would say 100 million Americans have been/are being laid off due to this social distancing experiment. There is no precedent for that... nothing even close.

End of April comes and they don't put an end to this moratorium on living... there will be riots.

So, how about the K-12 schools? How do they grade the final semester? How do they decide who gets to graduate? I haven't heard a word about it.

Another deal, when you close so many eateries, the burden of food supply shifts to the grocery markets. So that traffic increases. Okay, they had to shut down the grocery stores in Italy for 3 weeks, I think it was, because the virus was still able to spread in the stores. Banning shopping bags in San Francisco isn't going to get it done, what happens when the CDC recommends shutting the grocery stores down?

It is still early, people have not lost their patience yet. But it is a well known phenomenon with humans that they go stir crazy, they get cabin fever, and when that happens, it is going to get ugly. Indefinitely is not going to get it done forever, in fact I would say, indefinitely is like setting a ticking bomb ... at some point soon, this nonsense has to end.

I posted a similar post 3 weeks ago. That the domestic violence, the suicides, etc would go up. People in financial ruin. Also totally agree the food supply is shifting to the grocery stores.

But I don't see much rioting happening even if this lasted all summer.

But you can't shut peoples livelihood and their pursuit of happiness down without bailing them out and at least partially preserving their businesses, houses, and part of their income so they can buy food, make car payments etc.
 
I posted a similar post 3 weeks ago. That the domestic violence, the suicides, etc would go up. People in financial ruin. Also totally agree the food supply is shifting to the grocery stores.

But I don't see much rioting happening even if this lasted all summer.

But you can't shut peoples livelihood and their pursuit of happiness down without bailing them out and at least partially preserving their businesses, houses, and part of their income so they can buy food, make car payments etc.
Inflation isn't bailing anyone out. Those resources need to come from someone. Who's gonna pay for the bailout?
 
I think it's entirely irresponsible to have things closed "indefinitely". I think you set tabbed markers of when to look forward to, and then reconsider. Trump did that with Easter (the media freaked out as if he was 100% literal and not just throwing a branch of possibility and hope, but that's another issue)

But this is mainly in regards to the economy. Loss of life and the economy are not mutually exclusive. If you purposefully nuke the economy, you're going to cause not only massive suffering but death in areas. Infrastructure supports human life, and infrastructure can only last so long when you're purposefully de-monetizing it.

What's the answer? I don't really hear any. Keep printing money until my $1 becomes 25 cents? How can the government expect to withhold civil liberties for an "indefinite" amount of time? I think the populace will play ball for a defined period, but man, some of this talk coming from governors and such.. they expect all of us to just stay locked away for 6 months if we have to... I've got news for them, that's not going to probably happen.

What do you think?
Desperate and Premature Attempt to Put Us in Our Place

It will last until Americans get fed up with totalitarian restrictions and violently overthrow the self-appointed ruling class.
 

SW48

Administrator
Staff member
Supporting Member
Inflation isn't bailing anyone out. Those resources need to come from someone. Who's gonna pay for the bailout?
Now you are starting to understand. It isn't my fault I might lose my job. It isn't my employers fault I am losing my job. It isn't the governments fault I am losing my job as they had no other choice.

So who is this going to land on? The banks in my case and most small businesses and homeowners will make the banks the fall guy or as you said inflation takes hold and its spread out amongst everyone.
 
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