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What's next?

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Peter Minde

Re: What's next?

"Beyond a neo-feudal class structure administered by capitalist markets..." I can't believe this phrase could ever be found in an issue of Forbes, the self proclaimed capitalist tool.

-Peter Minde
http://www.oxygenfedsport.com

Harvey

Re: What's next?

Administrator

In reply to this post by nepa

nepa wrote

Unsecured consumer debt

Dumb question... is this credit cards? What else?

Good on you nepa for helping out your tenants.

"You just need to go at that shit wide open, hang on, and own it." —Camp

nepa

Re: What's next?

Harvey wrote

nepa wrote

Unsecured consumer debt

Dumb question... is this credit cards? What else?

Good on you nepa for helping out your tenants.

Thanks Harv. Also included in the bucket are personal loans. If there is no collateral associated with the transaction it's considered unsecured on the bank side.

Peter Minde

Re: What's next?

In reply to this post by nepa

nepa wrote

From an economic perspective, I don't think we've seen anything yet. I think there are some inevitable systemic issues that have yet to reveal themselves. Our nation is awash in both private and public debt. Unsecured consumer debt us the next bomb... it's been primed by a large percentage of our population living beyond their means for the past decade. It's not just the consumer... many businesses have acted irresponsibly in the all too common lust for unfettered growth. As always, at the end of a boom, large companies tend to be very irresponsible when using debt to finance growth. The leveraged corporate debt market has doubled in size over the past 5 years. Over the next quarter, default rates will skyrocket. Reserve requirements for banks are still woefully inadequate in comparison to the amount of outstanding obligations. I believe there is another bank bailout on the horizon. I'm not sure where this money will come from, but without it, the wheels of banking will come off the economic machine pretty quickly.

Obviously, this is an evolving situation with out a visible solution at the current moment. I am a landlord. My tenants are living rent free as long as they need to. They've been great tenants... it's the least I can do. Good tenants are hard to find.

Word. And good job by you, for your tenants.

-Peter Minde
http://www.oxygenfedsport.com

raisingarizona

Re: What's next?

That’s awesome of you to do NEPA.

MC2 5678F589

Re: What's next?

In reply to this post by nepa

nepa wrote

many businesses have acted irresponsibly in the all too common lust for unfettered growth. As always, at the end of a boom, large companies tend to be very irresponsible when using debt to finance growth. The leveraged corporate debt market has doubled in size over the past 5 years.

Vail Resorts, Inc.?

nepa

Re: What's next?

Thanks Dudes.

MC2 5678F589 wrote

nepa wrote

many businesses have acted irresponsibly in the all too common lust for unfettered growth. As always, at the end of a boom, large companies tend to be very irresponsible when using debt to finance growth. The leveraged corporate debt market has doubled in size over the past 5 years.

Vail Resorts, Inc.?

Yup.... hospitality in general. Over the past 2 years there has been a Bed Boom in our valley. The ski area is planning an expansion, so we need more beds. The key word in the previous statement being "planning." Now we have a glut. 4 hotels halted in the process of being built. Tons of nice new vacant apartments.... most of them now completely un-affordable... all financed with corporate debt.

Harvey

Re: What's next?

Administrator

In reply to this post by nepa

nepa wrote

Also included in the bucket are personal loans. If there is no collateral associated with the transaction it's considered unsecured on the bank side.

I had never heard of a personal loan without security.

"You just need to go at that shit wide open, hang on, and own it." —Camp

campgottagopee

Re: What's next?

Harvey wrote

nepa wrote

Also included in the bucket are personal loans. If there is no collateral associated with the transaction it's considered unsecured on the bank side.

I had never heard of a personal loan without security.

Yep, another term for them would be consolidation loans.

Banks are loaning people money who have zero intention of paying it back. They are loaning at outrageous LTV ratios as well. This needs to get reeled in. Do you think we would've seen the housing market crashes we have if people were actually required to put 20% down? Like cars, people were/are in houses that have no business owning one. It's time people start to stand on their own merit.

raisingarizona

Re: What's next?

In reply to this post by Peter Minde

Peter Minde wrote

"Beyond a neo-feudal class structure administered by capitalist markets..." I can't believe this phrase could ever be found in an issue of Forbes, the self proclaimed capitalist tool.

Yeah, it seemed odd to me and some of it feels like we could be about to lose a lot of freedoms to gain a perceived safety. I find the idea of this pandemic being a catalyst for change interesting though. What that change is exactly i have no idea.

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

Brownski

Re: What's next?

In reply to this post by campgottagopee

As much fun as the revolution is gonna be, I'm more wondering how long it'll be before I can reschedule my kids' dentist appointments. For that matter, when re hospitals gonna be able to take non-Covid, non- emergency patients?

"You want your skis? Go get 'em!" -W. Miller

Milo Maltbie

Re: What's next?

In reply to this post by raisingarizona

raisingarizona wrote

Yeah, it seemed odd to me and some of it feels like we could be about to lose a lot of freedoms to gain a perceived safety. I find the idea of this pandemic being a catalyst for change interesting though. What that change is exactly i have no idea.

That's a false choice. I expect the first change will be guaranteed universal health care and paid sick leave for everyone. I've had that for the last 20 years, and it's made me feel more free, not less. YMMV.

OTOH they are developing tracking apps to trace contacts of COVID carriers. That will easily be applied to identify and disable criminal organizations. Also trade unions. Also universities. Also political organizations. Also churches.

raisingarizona wrote

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

Is you partner down for that?

mm

"Everywhere I turn, here I am." Susan Tedeschi

nepa

Re: What's next?

In reply to this post by raisingarizona

raisingarizona wrote

When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

Once the lock-down order is lifted I'm headed that way on my bike.... Vegas could be a great turn-around point. With 1500 miles on my legs... hookers and blow sound like a great reason to take a couple zero days.

campgottagopee

Re: What's next?

In reply to this post by raisingarizona

raisingarizona wrote

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

I'm down

JasonWx

Re: What's next?

campgottagopee wrote

raisingarizona wrote

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

I'm down

my wife said go and have a good time..

"Peace and Love"

witch hobble

Re: What's next?

In reply to this post by campgottagopee

campgottagopee wrote

raisingarizona wrote

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

I'm down

There goes that “emergency fund”.

campgottagopee

Re: What's next?

In reply to this post by JasonWx

JasonWx wrote

campgottagopee wrote

raisingarizona wrote

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

I'm down

my wife said go and have a good time..

Rt on 👍

campgottagopee

Re: What's next?

In reply to this post by witch hobble

witch hobble wrote

campgottagopee wrote

raisingarizona wrote

Our Trump checks hit the account today. We are both still working so this is real nice. When this whole thing blows over does anyone wanna meet up in Vegas for hookers and coke?

I'm down

There goes that “emergency fund”.

Per day!

raisingarizona

Re: What's next?

In reply to this post by Milo Maltbie

At this point she’s into anything to get me out of the house......:D

raisingarizona

Re: What's next?

In reply to this post by witch hobble

YOLO!!!!

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