Tuesday, March 24, 2020

Killing the Economy Behind the Scenes

The Federalist ran an essay which provokes some thoughts.  It describes the knock-on issues which arise due to shutdowns (forced or otherwise) and the consequent curtailment of payments.

...This is the solvency crisis. It starts with the break of trust and rise of skepticism toward the profitability of each business as long as the coronavirus crisis continues. This skepticism makes financial conditions for every one of these companies worse, and accelerates businesses’ declines into insolvency....

Discussed this sort of thing yesterday with specific reference to home purchases/sales and mortgage financing.  Someone makes an offer on your house, you accept it, and they proceed to find financing.

But what if they are suddenly and unexpectedly laid off?  You think Bank Friendly is going to grant a mortgage then? 

And........what if you've already purchased your NEXT house?   Hmmmmmmmmmm??

These are not issues for the Government Class, of course.  They get paid no matter what the Democrat Party does to demolish the economy and the citizens of this country.

Isn't that good to know?


Anonymous said...

...Love $ with all of your heart, soul, mind and strength and love your money as you love yourself.

Dad29 said...

Jiffy!! Your assholery is recognizable anywhere.

Dad29 said...

It would be nice if you'd try living without any cash for a few weeks, Anony. Enjoy starvation in the streets!! I'll enjoy watching you.