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Pretty crazy to think that many people. The errors in the US response to the COVID-19 crisis is going to haunt the people and way of life for in the US for generations to come. Other countries are going to transition off their financial support as the curve has been flattened in almost all developed countries.
Lack of universal health care, an absence of a centralized federal government response, a divided/politicized response where the use of masks are debated...a made in the USA tragedy...
I've seen this 43 million number floating about recently, and from what I can tell they arrived at it by just stating the total number of people in households covered by the CARES Act moratorium on evictions from fed subsidized housing. It's not an actual total of Americans who are likely to be evicted since it's not making any attempt to determine if these 43 million are behind on rent or have had eviction processes put on hold due to the moratorium.
One could in fact state that 43 million Americans were at risk of being homeless before COVID crisis hit USA, since it was probably about same number of Americans in fed subsidized housing before the CARES act existed. By extension, might as well say all renters in USA are at risk of being homeless since we're just taking raw totals, hell folks fall behind on mortgages too so maybe 330 million Americans are at risk of becoming homeless. Of course we're also running free with the word "homeless" because being evicted is not the same thing as becoming homeless.
Are more people struggling during this crisis? Sure! Has the moratorium protected many from eviction? Absolutely. Might there be a sudden surge of evictions due to lack of protection? You bet.
However this 43 million number is about worthless, other than for scary headlines and thread titles.
Rural means spread out. No one place should be overwhelmed. They are just going back to where they come from. So these places have had to deal with the numbers. Their parents can support them and maybe take over the farm.
Why do so many people think everyone that lives in an urban environment came from a farm?
Also, really with that example from the article? My first question was going to be how she was being evicted already with all of the stimulus for her EIGHT children and herself, but then she admits she was already $8,000 behind before the pandemic hit and was bailed out by her family.
That was the big problem with our economy before the pandemic. It was propped up with credit. With people extending themselves and barely getting by during good times. We cannot continue to sustain that. And we need to bail these people out so they can keep making their monthly payments so that those at the very top do not lose one red cent?
I know taxes are going to go way up. And I will have to subsidize all the people and corporations who maxed out their credit, made bad decision and now have to be bailed out by the government. And yet what do I get as a responsible American who did everything right and does not need financial help? A bigger tax bill.
That was the big problem with our economy before the pandemic. It was propped up with credit. With people extending themselves and barely getting by during good times. We cannot continue to sustain that. And we need to bail these people out so they can keep making their monthly payments so that those at the very top do not lose one red cent?
Agreed. I remember last year or the year before, I was talking to someone about how an economic crash would be worse these days vs 2008. Even during the good times (as recent as last year), everyone had access to infinitely expanding credit lines. Now people are just up to their eyeballs in debt. I personally know some one at work that bought a new car 2 months ago and a week later financed $4k in furniture.
CRAAAAZZZYYY!!!!!
The absolute only debt I have is my mortgage, and I'm worried. I can't imagine the people with mortgage, plus student loans, plus credit cards, plus car payments, plus store credits, plus...….
That was the big problem with our economy before the pandemic. It was propped up with credit. With people extending themselves and barely getting by during good times.
Quote:
Originally Posted by M3Guy
Even during the good times (as recent as last year), everyone had access to infinitely expanding credit lines. Now people are just up to their eyeballs in debt.
Much of those debts (from 2010s) still haven't been paid off. Add that to the new debts.
That would all show in debt to GDP ratio. It doesn't.
Quote:
Originally Posted by Philip T
Wow. So you mean it is not poor folks' fault they are poor?
I made no statement on who's fault it is that someone is poor.
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