1jkw Posted March 23, 2020 Share Posted March 23, 2020 29 minutes ago, revkevsdi said: I thought consumer and government debt were both at all time highs before this hit. Thankfully big government is here to pay for the mistakes of the rich. They were. Socializing losses is the game. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 23, 2020 Share Posted March 23, 2020 30 minutes ago, revkevsdi said: I thought consumer and government debt were both at all time highs before this hit. Thankfully big government is here to pay for the mistakes of the rich. Per capita they were down from the peak in '08 but still climbing. Quote Link to comment Share on other sites More sharing options...
motonoggin Posted March 23, 2020 Share Posted March 23, 2020 So this is the part where we choose between socialism and barbarism Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 23, 2020 Share Posted March 23, 2020 2 minutes ago, motonoggin said: So this is the part where we choose between socialism and barbarism Bernie might start looking pretty good. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 23, 2020 Share Posted March 23, 2020 mortgage market completely broke last week, we are hoping this will at least help that because a functioning residential and commercial lending environment is important both selfishly to me as a lender and to the underlying economy. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 23, 2020 Share Posted March 23, 2020 3 minutes ago, spin_dry said: Bernie might start looking pretty good. No chance. He wants to help people, not corporations. The corporations will make sure to call that communism. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 23, 2020 Share Posted March 23, 2020 1 minute ago, Angry ginger said: mortgage market completely broke last week, we are hoping this will at least help that because a functioning residential and commercial lending environment is important both selfishly to me as a lender and to the underlying economy. I can't see how the new mortgage market will survive this short term. Re-finances, sure. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 23, 2020 Share Posted March 23, 2020 4 minutes ago, Angry ginger said: mortgage market completely broke last week, we are hoping this will at least help that because a functioning residential and commercial lending environment is important both selfishly to me as a lender and to the underlying economy. When your economy is so fucked it takes endless money to keep it afloat. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 23, 2020 Share Posted March 23, 2020 Just now, frenchy said: I can't see how the new mortgage market will survive this short term. Re-finances, sure. purchases are going to suffer for sure, we hope just for the short term. We went from 3 weeks ago figuring we would have our best year ever to now looking at just trying to keep at the level we did last year with refi's taking place of the "spring" purchase business. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 23, 2020 Share Posted March 23, 2020 10 minutes ago, frenchy said: Per capita they were down from the peak in '08 but still climbing. I could be wrong but I think you are talking about it being down as a percentage of GDP. The total consumer debt is higher in the US and Canada. People are stupid. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 23, 2020 Share Posted March 23, 2020 2 minutes ago, Angry ginger said: purchases are going to suffer for sure, we hope just for the short term. We went from 3 weeks ago figuring we would have our best year ever to now looking at just trying to keep at the level we did last year with refi's taking place of the "spring" purchase business. our local market needed a correction. Hopefully this provides one. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 23, 2020 Share Posted March 23, 2020 Investors are like a chick that's had enough of your shit. The fed is saying, "hey baby please stay, I'll give you anything you want. " And she just walks out the fucking door. And she took the dog because you are too stupid to take care of it. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 23, 2020 Share Posted March 23, 2020 1 hour ago, revkevsdi said: I could be wrong but I think you are talking about it being down as a percentage of GDP. The total consumer debt is higher in the US and Canada. People are stupid. no, per capita household debt. Canada never learned but we didn't get hit the same as Americans. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 23, 2020 Share Posted March 23, 2020 4 minutes ago, frenchy said: no, per capita household debt. Canada never learned but we didn't get hit the same as Americans. We are both higher. US topped out at 12.5 trillion 2008 now it's 14 trillion and about to go higher. Of course the national debt is through the roof, thanks Trump. Canada hit an all time high in January of this year on household debt.. and our national debt has gone up 50% since the recession. Thanks Harper and Trudeau. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 23, 2020 Share Posted March 23, 2020 6 minutes ago, revkevsdi said: We are both higher. US topped out at 12.5 trillion 2008 now it's 14 trillion and about to go higher. Of course the national debt is through the roof, thanks Trump. Canada hit an all time high in January of this year on household debt.. and our national debt has gone up 50% since the recession. Thanks Harper and Trudeau. most of that growth is in student debt. 1 Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 23, 2020 Share Posted March 23, 2020 8 minutes ago, frenchy said: most of that growth is in student debt. So basically unrecoverable? Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 23, 2020 Share Posted March 23, 2020 9 minutes ago, frenchy said: most of that growth is in student debt. Student debt is 1.5 trillion. The fed has thrown 3 times that amount at the economy with zero success. Quote Link to comment Share on other sites More sharing options...
motonoggin Posted March 23, 2020 Share Posted March 23, 2020 3 hours ago, spin_dry said: Bernie might start looking pretty good. Where is Biden? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 23, 2020 Share Posted March 23, 2020 1 minute ago, motonoggin said: Where is Biden? Sheltering in place. He’d melt if he contracted this thing Quote Link to comment Share on other sites More sharing options...
motonoggin Posted March 23, 2020 Share Posted March 23, 2020 Just now, spin_dry said: Sheltering in place. He’d melt if he contracted this thing I hope he's dead and they're trying to keep it a secret. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 23, 2020 Platinum Contributing Member Share Posted March 23, 2020 3 hours ago, revkevsdi said: When your economy is so fucked it takes endless money to keep it afloat. Dude Canada's debt to gdp ratio is worse than ours. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 23, 2020 Platinum Contributing Member Share Posted March 23, 2020 (edited) 1 hour ago, motonoggin said: I hope he's dead and they're trying to keep it a secret. He's going to start giving daily briefings from his home today. I think he fails to realize or he is using this as a political statement but if he's talking about HC workers in the reserves they generally have jobs they go to every day. Edited March 23, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 23, 2020 Share Posted March 23, 2020 1 hour ago, Mainecat said: Student debt is 1.5 trillion. The fed has thrown 3 times that amount at the economy with zero success. Yet everytime a bailout comes up, you are all for it. Fucking idiots. There should be no such thing as a bailout for corporations. Quote Link to comment Share on other sites More sharing options...
Big Crappie Posted March 23, 2020 Share Posted March 23, 2020 2 hours ago, spin_dry said: Sheltering in place. He’d melt if he contracted this thing Wouldn't it be crazy if all of these old white guys running for president (trump, biden and sanders) all got covid-19 and died? 1 Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 23, 2020 Share Posted March 23, 2020 1 minute ago, Big Crappie said: Wouldn't it be crazy if all of these old white guys running for president (trump, biden and sanders) all got covid-19 and died? crazily awesome Quote Link to comment Share on other sites More sharing options...
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