Bad Economic Predictions

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TheCatt
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Bad Economic Predictions

Postby TheCatt » Mon Mar 30, 2020 1:35 pm

Leisher wrote:Source of the post Wouldn't it be in the best interest of banks to not foreclose on any business?

Wouldn't they want them to succeed?

Or would they prefer double dipping by putting people out of business now, taking their shit, then reselling it to new people that will go into debt when starting businesses, after this is over?

Technically, the latter sounds more profitable, right? But also riskier.
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Bad Economic Predictions

Postby Leisher » Mon Mar 30, 2020 1:38 pm

GORDON wrote:Source of the post When people aren't paying back their bank loans, there's theoretically less money for the banks to make new loans. No business loans, no jobs being created. No jobs, no money to pay loans. It's not as straight forward as declaring a payment holiday.


You don't have to declare a payment holiday, but you can certainly not apply interest or fees to money owed for a particular time period.

I know it'd be tougher for smaller banks, but at the end of the rainbow sits companies who have more than enough funds to allow leniency to trickle down. Seems like it would be in their, their customers, and the country's (hell, the world's) best interest to not be dicks right now.
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Bad Economic Predictions

Postby TheCatt » Mon Mar 30, 2020 1:40 pm

Leisher wrote:Source of the post Seems like it would be in their, their customers, and the country's (hell, the world's) best interest to not be dicks right now

There's an argument (creative destruction) that capitalism is best without such safeguards and bailouts, etc. There's also an argument that the individual bank should decide what's best for themselves.

Everything is debatable and has lots of consequences that are often hard to predict.
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Bad Economic Predictions

Postby GORDON » Mon Mar 30, 2020 1:42 pm

No argument. But it's like the common trend right now that "landlords who don't let you skip rent are fucking evil." Those evil landlords also have bills to pay. They probably aren't scrooge mcduck dumping the rent into the money pool, and diving in, 90% of that rent money is already due somewhere else.
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Bad Economic Predictions

Postby Leisher » Mon Mar 30, 2020 4:20 pm

Which further backs up my point about the people at the top. They need to be the ones being lenient right now. They need to set the tone of accepting the situation and not letting people fail.

Otherwise the people might storm their ivory towers.
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Bad Economic Predictions

Postby TheCatt » Tue Mar 31, 2020 1:01 pm

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Bad Economic Predictions

Postby Leisher » Tue Mar 31, 2020 1:05 pm

Yep. It's bad for my business.
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Bad Economic Predictions

Postby GORDON » Tue Mar 31, 2020 1:21 pm

It makes my EV less economical.

Good thing I'm not charging it up from 20% everyday, though, since schools are closed.
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Bad Economic Predictions

Postby TheCatt » Thu Apr 02, 2020 8:36 am

Jobless claims hit 6.6M this week. 9.9M total in two weeks.
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Postby TheCatt » Wed Aug 26, 2020 6:47 pm

Remember that guy who made his company's minimum age $70k? Update on Gravity Payments seventy thousand dollars (search keywords)
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Bad Economic Predictions

Postby TheCatt » Thu Oct 15, 2020 12:03 pm

We re-fi'd our mortgage to 2.875%, total fees = $700.
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Bad Economic Predictions

Postby Leisher » Thu Oct 15, 2020 1:55 pm

TheCatt wrote:Source of the post Remember that guy who made his company's minimum age $70k? Update on Gravity Payments seventy thousand dollars (search keywords)


It's cool that it's working out for him, but it still proves nothing about the experiment. It only proves that in an isolated case with a good product and a motivated owner it can work.

What happens when the product isn't awesome? The owner isn't interested in risking his own financial future to give his employees more pay? When everyone is doing it and corporations realize they can start charging more for everything to offset their own costs/raises and the cost of living skyrockets so that $70K becomes worth $35K? And so on.
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