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I think it could easily be that high - maybe more.
Where I am, the problems have cascaded well beyond the leisure and hospitality sector. My ex works at a bank. She's laid off. The bank my mom worked at is also laying off. What's this going to do to car dealerships, real estate sales, etc.?
All those people are going to have trouble down the line.
I suspect that's what's going to happen: some kind of defined hiatus in major loan payments to give everyone some financial breathing room. Probably federally defined, enforced by heavy arm-twisting of the major mortgage, auto and student loan lenders.
Nearly all those entities are perfectly capable of absorbing a period of reduced revenue. Few households are.
Quote:
Originally Posted by Oklazona Bound
On the bright side this could be a once in a century opportunity to grab properties on the cheap.
And on the really bright side, the profiteers and bonepickers might find themselves marked for life.
There should be a mortgage furlough. Once the Covid-19 panic is over and people come to their senses, the economy should be up and running again.
At this point it's almost irrelevant what happens with the virus, the bubble economy has already had been burst. There will not be a recovery, and any Fed "stimulus" and QE will just makes things worse.
At this point it's almost irrelevant what happens with the virus, the bubble economy has already had been burst. There will not be a recovery, and any Fed "stimulus" and QE will just makes things worse.
Of course there will be a recovery. "When" is debatable, but not "if".
At this point it's almost irrelevant what happens with the virus, the bubble economy has already had been burst. There will not be a recovery, and any Fed "stimulus" and QE will just makes things worse.
Glad you got the memo....any bets you will be wrong Just like those who thought that in every downturn
Of course there will be a recovery. "When" is debatable, but not "if".
Yes, there'll be a 'recovery' eventually. But anyone who thinks we'll ever recover to 2019 levels of consumerism, activity, and debt accumulation is very wrong.
I'll bet you an old Mercury dime. Who knows, that might actually be worth quite a lot in this coming crisis.
Meh .....
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