Bankruptcies on the rise

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cocks rule

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Could get interesting by 2023 after all the free money dries up. Should be some bargains to be had popping up shortly.
 

92Pony

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Yea there is gonna be a new round of foreclosures like in 2008.
Precisely!

When we sold our old house in 2018, we were concerned that it may not appraise for the amount we sold it for (It was a nice house, in a great location, with some nice amenities, but no real apples-to-apples "comps" in that price range). I expressed my concern to our RE agent, (who's been in the business for a long time), and she basically said that whatever it needed to appraise for in order for the bank to make the loan, that's what it would appraise for. And sure enough, it did. To me, that's asking for trouble, just like back in '08 as you say. Banks loaning out too much money on houses, and/or to people who wouldn't be able to pay for them got them into big trouble. I can see that trouble coming again - been saying it for years now.
 

Ward Jr

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Feel sorry for those who did not lock in fixed rate mortgages. What will be interesting to see is what Blackrock and Fidelity do when the real estate market gets dragged down. They hold a boatload of residential real estate now and if interest rates rise to 8-10%+, they'll find better places to park money and will flood the market offloading properties.
 

cocks rule

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Precisely!

When we sold our old house in 2018, we were concerned that it may not appraise for the amount we sold it for (It was a nice house, in a great location, with some nice amenities, but no real apples-to-apples "comps" in that price range). I expressed my concern to our RE agent, (who's been in the business for a long time), and she basically said that whatever it needed to appraise for in order for the bank to make the loan, that's what it would appraise for. And sure enough, it did. To me, that's asking for trouble, just like back in '08 as you say. Banks loaning out too much money on houses, and/or to people who wouldn't be able to pay for them got them into big trouble. I can see that trouble coming again - been saying it for years now.
It literally ALWAYS appraises for the sale price. Just another example of added BS fees for bank loans.
 

cocks rule

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Feel sorry for those who did not lock in fixed rate mortgages. What will be interesting to see is what Blackrock and Fidelity do when the real estate market gets dragged down. They hold a boatload of residential real estate now and if interest rates rise to 8-10%+, they'll find better places to park money and will flood the market offloading properties.
I don’t think so. They’re in rentals heavily and one thing that’s not going down is rent. The goal is to make everyone coming along now lifetime renters and they’re doing a pretty good job of that
 

Ward Jr

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I don’t think so. They’re in rentals heavily and one thing that’s not going down is rent. The goal is to make everyone coming along now lifetime renters and they’re doing a pretty good job of that
Could be - but inflation impacts everyone across the board. Can't pay today's rent tomorrow if your earnings/spending power is getting sliced 8%-15% a month with no end in sight. Currently, the FED has us on a rate hike path until at least the beginning 2024. Inflation will likely continue to run wild.
 

Gamecockben1979

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Could be - but inflation impacts everyone across the board. Can't pay today's rent tomorrow if your earnings/spending power is getting sliced 8%-15% a month with no end in sight. Currently, the FED has us on a rate hike path until at least the beginning 2024. Inflation will likely continue to run wild.
Yep the only real correction to this is a recession or maybe even a depression. Once demand starts to cool, prices will fix themselves.

But the combination of people being locked in and the government printing a boat load of free money for both people and businesses has led to an overall unhealthy situation for the economy.
 

Jbouton2

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Yep the only real correction to this is a recession or maybe even a depression. Once demand starts to cool, prices will fix themselves.

But the combination of people being locked in and the government printing a boat load of free money for both people and businesses has led to an overall unhealthy situation for the economy.
Sounds like a good assessment you made here. Just basic economics you are stating here. Reasonable logic that all Americans can understand IMO.
 

Gamecockben1979

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Sounds like a good assessment you made here. Just basic economics you are stating here. Reasonable logic that all Americans can understand IMO.
Yeah you’re right. Nothing too advanced, but most people don’t want to picture themselves going through it. I hope I’m wrong…and also hoping I can personally dodge it myself.
 

JGH 35

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This time the fix will only make things worse. I think most would agree that the reckless increase in spending and deficits by the federal gov't is one of the basic causes of inflation. In previous inflationary periods raising the interest rate has slowed the economy and corrected the problem. The difference in those times and now though is that previously we've had relatively low debt. Now our debt has exploded to $30 trillion. Currently, at over $350 billion the interest on the national debt is 5th largest line item on the national budget. An increase in interest rates will cause this figure to rise to well over $500 billion, which increases spending and increases the deficit which in turn creates more inflation. It is a vicious cycle. The only way this will work to correct inflation is if we have a corresponding decrease in other government spending. With our political system the way it is I don't look for this to happen.
 

cocks rule

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This time the fix will only make things worse. I think most would agree that the reckless increase in spending and deficits by the federal gov't is one of the basic causes of inflation. In previous inflationary periods raising the interest rate has slowed the economy and corrected the problem. The difference in those times and now though is that previously we've had relatively low debt. Now our debt has exploded to $30 trillion. Currently, at over $350 billion the interest on the national debt is 5th largest line item on the national budget. An increase in interest rates will cause this figure to rise to well over $500 billion, which increases spending and increases the deficit which in turn creates more inflation. It is a vicious cycle. The only way this will work to correct inflation is if we have a corresponding decrease in other government spending. With our political system the way it is I don't look for this to happen.
Ain’t no way this administration will have any decrease in spending. 🤣
 

alaskagamecock

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Ain’t no way this administration will have any decrease in spending. 🤣
Just think if Build Back Broke had passed and we had another 3.5 trillion of printed money injected into the economy. Yet with a straight face they were all telling us that it’s what would have fixed inflation. Smdh!

The nation owes Manchin and Sinema a big thanks from keeping this spiraling catastrophe from becoming a death spiral.
 
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cocks rule

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Just think if Build Back Broke had passed and we had another 3.5 trillion of printed money injected into the economy. Yet with a straight face they were all telling us that it’s what would have fixed inflation. Smdh!

The nation owes Manchin and Sinema a big thanks from keeping this spiraling catastrophe from becoming a death spiral.
Amen to that brother. I don’t even wanna think about that nightmare scenario.
 

sclawman77

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Just think if Build Back Broke had passed and we had another 3.5 trillion of printed money injected into the economy. Yet with a straight face they were all telling us that it’s what would have fixed inflation. Smdh!

The nation owes Manchin and Sinema a big thanks from keeping this spiraling catastrophe from becoming a death spiral.
Yep even liberal Bezos credited Manchin for saving his own party from themselves by voting against those massive spending bills filled with garbage social programs. Manchin got chastised by many dem politicians and liberal media for it too for many months. You don't hear that now that inflation has skyrocketed. .
 

alaskagamecock

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Yep even liberal Bezos credited Manchin for saving his own party from themselves by voting against those massive spending bills filled with garbage social programs. Manchin got chastised by many dem politicians and liberal media for it too for many months. You don't hear that now that inflation has skyrocketed. .
Nope it’s cricket from those criticizing him except for folks like DeeDave, who probably still has no idea that injecting more money into the economy deflates they purchasing power of a dollar, ergo more inflation. So basic yet they are like parrots repeating the company line!
 
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sclawman77

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Nope it’s cricket from those criticizing him except probably for folks like DeeDave, who probably still has no idea that injecting more money into the economy deflates they purchasing power of a dollar, ergo more inflation. So basic yet they are like parrots repeating the company line!
Yep, and remember Deedave has smoking gun proof that young kids in public schools around the country aren't discussing sexual orientation and identity before the third grade-because his wife teaches middle school in South Carolina and it just doesn't happen. (That settles the discussion-end of story). In the meantime, all these publicly funded drag queen show stories at schools keep making the news among other things. Liberal indoctrination of children-just a conspiracy theory. Sure.
 

midline

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Yep, the real estate market is about to tank. Buy history is prologue as they Sat. Every spike is followed by a downturn. Going to see a lot of folks that bought houses over the last couple of years have a hard time getting rid of them at anywhere near what they paid for them
 
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cocks rule

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Yep, the real estate market is about to tank. Buy history is prologue as they Sat. Every spike is followed by a downturn. Going to see a lot of folks that bought houses over the last couple of years have a hard time getting rid of them at anywhere near what they paid for them
Yep. Lots of fires and bankruptcies coming soon to a home near you!!
 

DeeDave

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Yep, and remember Deedave has smoking gun proof that young kids in public schools around the country aren't discussing sexual orientation and identity before the third grade-because his wife teaches middle school in South Carolina and it just doesn't happen. (That settles the discussion-end of story). In the meantime, all these publicly funded drag queen show stories at schools keep making the news among other things. Liberal indoctrination of children-just a conspiracy theory. Sure.

if you have evidence that elementary school teachers are teaching children about sex in South Carolina without any repercussions, why don’t you get off your backside and report the teacher to the proper authorities?

better yet, name the teacher here by name, and then report it to the news media and the school district.

but you aren’t going to do that. why not?

do you need a Republican politician to save you?

are you referring to clubs having events at school and inviting someone in drag?

does that upset you that a Gay- Straight club would invite someone of their choice to appear?
 

DeeDave

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Nope it’s cricket from those criticizing him except for folks like DeeDave, who probably still has no idea that injecting more money into the economy deflates they purchasing power of a dollar, ergo more inflation. So basic yet they are like parrots repeating the company line!

nah, I just laugh at the hypocrites like you that couldn’t spend fast enough when trump was President all of a sudden being worried about spending too much money,

lol
 

DeeDave

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. Liberal indoctrination of children-just a conspiracy theory. Sure.


the best “Liberal Indoctrination“ a young person can have is from a right wing- nut parent when the kid realizes they aren’t interested in following dad‘s political advice.

the most liberal people I know were not influenced by some teacher somewhere- which is laughable -

they were influenced by a parent that they didn’t want to emulate politically or socially.

the parents just want to blame anyone else -except themselves- for their own children having different views.
 
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Ratheolcoach

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This time the fix will only make things worse. I think most would agree that the reckless increase in spending and deficits by the federal gov't is one of the basic causes of inflation. In previous inflationary periods raising the interest rate has slowed the economy and corrected the problem. The difference in those times and now though is that previously we've had relatively low debt. Now our debt has exploded to $30 trillion. Currently, at over $350 billion the interest on the national debt is 5th largest line item on the national budget. An increase in interest rates will cause this figure to rise to well over $500 billion, which increases spending and increases the deficit which in turn creates more inflation. It is a vicious cycle. The only way this will work to correct inflation is if we have a corresponding decrease in other government spending. With our political system the way it is I don't look for this to happen.
Not happening.
 

alaskagamecock

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nah, I just laugh at the hypocrites like you that couldn’t spend fast enough when trump was President all of a sudden being worried about spending too much money,

lol
Yea cause god knows your party is doing such a wonderful job on the economy, the border etc. let me guess, you are one of the useful idiots that fall into the 20% of Americans across this country who thinks Biden is doing good on the economy. It doesn’t surprise me that you would actually believe that though…
 

DeeDave

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Yea cause god knows your party is doing such a wonderful job on the economy, the border etc. let me guess, you are one of the useful idiots that fall into the 20% of Americans across this country who thinks Biden is doing good on the economy. It doesn’t surprise me that you would actually believe that though…
as I said and you ignored...

nah, I just laugh at the hypocrites like you that couldn’t spend fast enough when trump was President all of a sudden being worried about spending too much money,
 

DeeDave

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Yeah, who wrote all those huge spending bills?


Your memory is bad, I realize

Trump threatens to not sign COVID-19 bill, wants bigger stimulus checks​


 

GoCocksFight2021

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Your memory is bad, I realize

Trump threatens to not sign COVID-19 bill, wants bigger stimulus checks​



Wrong.

Pelosi wrote every one of them and Trump asked them to cut all the Dem shit out of it that has NOTHING to do with COVID and increase the checks to the people. Then Biden came along about used more checks to purchase the Georgia Senate seats.

It's you have can't seem to remember the $3 trillion "heros" act that Republicans had to squash. Another inflation-inducing slush funds for Dems. And build back bullshit that even all the Dems wouldn't sign onto.

The Republicans are the only reason the Dems haven't pushed us to 25%+ inflation with all their insanely stupid spending.
 

Neanderthal

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Pelosi may have problems at home. Hubby got charged with drunk driving. Wonder if he’ll ever pay that fine?
 

DeeDave

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Wrong.

Pelosi wrote every one of them and Trump asked them to cut all the Dem shit out of it that has NOTHING to do with COVID and increase the checks to the people. Then Biden came along about used more checks to purchase the Georgia Senate seats.

It's you have can't seem to remember the $3 trillion "heros" act that Republicans had to squash. Another inflation-inducing slush funds for Dems. And build back bullshit that even all the Dems wouldn't sign onto.

The Republicans are the only reason the Dems haven't pushed us to 25%+ inflation with all their insanely stupid spending.


Your memory is awful. That's what happens when you worship a President and a political party

President Donald Trump signed a massive coronavirus relief and government funding package into law Sunday, five days he sent Washington into a panic by suggesting he could veto the bill that he considered was a “disgrace.”

The White House had signaled for weeks that Trump would sign whatever pandemic aid bill the divided Congress passed into law. The legislation added to the number of weeks jobless Americans can receive aid.

Along with extending the eviction moratorium, it puts $25 billion into rental assistance. The airline payroll assistance is part of more than $45 billion in transportation relief.

The package also directs $82 billion to K-12 and higher education.

Trump threatened to veto the measure because it didn't contain more money for individuals.

 

JGH 35

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Your memory is awful. That's what happens when you worship a President and a political party

President Donald Trump signed a massive coronavirus relief and government funding package into law Sunday, five days he sent Washington into a panic by suggesting he could veto the bill that he considered was a “disgrace.”

The White House had signaled for weeks that Trump would sign whatever pandemic aid bill the divided Congress passed into law. The legislation added to the number of weeks jobless Americans can receive aid.

Along with extending the eviction moratorium, it puts $25 billion into rental assistance. The airline payroll assistance is part of more than $45 billion in transportation relief.

The package also directs $82 billion to K-12 and higher education.

Trump threatened to veto the measure because it didn't contain more money for individuals.

I believe your memory could use a little jogging as well. The bill Trump signed was $900 billion and although a little much IMO, was necessary due to the pandemic and the shut down of the economy. In comparison, Biden's bill of about $2 Trillion was ridiculous and has helped fuel inflation and by incentivizing individuals to not seek employment has contributed to the major shortages of goods and supply chain issues. Bear in mind that Biden reckless spending came AFTER there was a vaccine available and AFTER the economy had opened back up so it was mostly unnecessary wasteful spending that has added unforgiveable amounts of debt to the already Obama induced massive debt that now tops $30 Trillion.
 

section907

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Wrong.

Pelosi wrote every one of them and Trump asked them to cut all the Dem shit out of it that has NOTHING to do with COVID and increase the checks to the people. Then Biden came along about used more checks to purchase the Georgia Senate seats.

It's you have can't seem to remember the $3 trillion "heros" act that Republicans had to squash. Another inflation-inducing slush funds for Dems. And build back bullshit that even all the Dems wouldn't sign onto.

The Republicans are the only reason the Dems haven't pushed us to 25%+ inflation with all their insanely stupid spending.
This has been pointed out many times . She still sticks to the narrative she’s been told to believe and forgets the libs wanted to pass it then find out what was in it. POTUS wasn’t going to let that happen. .
 

DeeDave

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I believe your memory could use a little jogging as well. The bill Trump signed was $900 billion and although a little much IMO, was necessary due to the pandemic and the shut down of the economy. In comparison, Biden's bill of about $2 Trillion was ridiculous and has helped fuel inflation and by incentivizing individuals to not seek employment has contributed to the major shortages of goods and supply chain issues. Bear in mind that Biden reckless spending came AFTER there was a vaccine available and AFTER the economy had opened back up so it was mostly unnecessary wasteful spending that has added unforgiveable amounts of debt to the already Obama induced massive debt that now tops $30 Trillion.

Are you talking about the $900 billion scheme Trump signed in December 2020 after he had signed the $2.2 trillion scheme in March 2020?

"Unprecedented in size and scope, the legislation was the largest economic stimulus package in U.S. history"

The Congressional Budget Office estimated that it will add $1.7 trillion to the deficits over the 2020–2030 period,


$3.1 trillion in one year signed by your GOD.

being in your cult requires you to dismiss it like it's no big deal and didn't have any impact on anything.

Fun fact: Clay Lacy Aviation, a California-based private jet charter company that serves business executives and celebrities, received a government grant of nearly $27 million that it does not have to repay. In 2016, the company's founder, Clay Lacy, donated $47,000 to the Republican Party after it officially nominated Trump and also donated the maximum allowable $2,700 directly to the Trump campaign.

Final Note:
In the Cares Act, Congress inserted a provision that required the Inspector General to issue reports to Congress detailing all cash payments to businesses and organizations. In a signing statement, Trump suggested he could gag the Inspector General to block his reports to Congress
 
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DeeDave

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It’s not that Trump wanted more overall. He wanted more to go directly to individuals. The original bill, almost all was to special interest groups and politically connected groups. Very little directly to American people.

Several things:

Trump certainly wanted more. You don't sign a 2.2 trillion package in March and a 900 billion package in December if you don't want more overall. He signed both bills. No reason to avoid the obvious.

Trump and Republicans agreed on how much money they would support as direct payments. When the legislation was written, Trump backstabbed them and suddenly demanded more money. He did that for the publicity. (Notice he backed off almost immediately after "threatening not to sign" the legislation. He certainly didn't fight for it. Almost as soon as he demanded it- and it made news- he backed off. It was just a gimmick.

Did you need a stimulus payment? I certainly didn't.

What he should have lobbied for was increased payments to individuals that had applied for unemployment and were out of a job, not direct payments to all Americans. That is what some Republicans like Richard Shelby proposed. Giving money to everyone was just a vote buying gimmick for everyone involved. .

Trump directly lobbied for money to go to his some of his own businesses by making them eligible. Congress refused to insert it - angering Trump.
 
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