I am

  • SapGreen [none/use name]
    ·
    edit-2
    3 years ago

    In 2008, America was OK letting homeowners lose everything because it was portrayed as poor people who overextended themselves in home loans with virtually no money down or balloon payments. But now, you've got so many middle class strivers, petite bourgeoisie, airbnb leeches, and investment firms pot committed to sky high real estate prices... I think the government will bail them out this time around to prop up their investments. Good times.

    • captcha [any]
      hexagon
      ·
      3 years ago

      Way to go and ruin my lathe. Housing market crashes but the government bails out Black Rock and housing prices become even higher.

      • Ideology [she/her]
        ·
        3 years ago

        Do they have the money to do that? I thought during covid all the news outlets were saying the govt was running out of places to pull money from, and taxes didn't generate as much revenue this year.

        • captcha [any]
          hexagon
          ·
          3 years ago

          :brrrrrrrrrrrr:

          But really. The Federal Reserve can print as much money as it wants. There just happens to be economic consequences for doing so. Printing so much money will cause more inflation but if its preventing an economic collapse its worth it. The inflation might even be negated based on the crisis at hand and who is given the fresh money.

          One way of looking at it is to view all federal spending as coming fresh off the printer and all taxes as going directly into an incinerator. You just have to be careful about how much money you are putting in or taking out of the system.

    • SerLava [he/him]
      ·
      3 years ago

      And they've already been saying things like "Obama went too small, we need to err on the side of too big" which, i mean their definition of big