General Category > Economy/Business

8 Million Face Foreclosure or Eviction Beginning July 1 -- Economic Recovery Is About to Crash

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sneakypete:

--- Quote from: IsailedawayfromFR on June 17, 2021, 10:13:48 pm ---all because the federal government has propped up these people.

It is called enabling, and only for political gain.

Deliberately done so a disaster could come about and the feds step in with more power .

--- End quote ---

@IsailedawayfromFR

I can't remember who it was,but it seems like someone famous in financial circles once said  something close to "In every crisis there is opportunity if you look for it."

sneakypete:

--- Quote from: IsailedawayfromFR on June 17, 2021, 10:13:48 pm ---all because the federal government has propped up these people.

It is called enabling, and only for political gain.

Deliberately done so a disaster could come about and the feds step in with more power .

--- End quote ---
[/b]

@IsailedawayfromFR

And so the international financiers who have bought and paid for the politicians can step in and hit the bankruptcy sales.

IsailedawayfromFR:

--- Quote from: sneakypete on June 18, 2021, 04:28:34 am ---@IsailedawayfromFR

I can't remember who it was,but it seems like someone famous in financial circles once said  something close to "In every crisis there is opportunity if you look for it."

--- End quote ---

sneakypete:

--- Quote from: IsailedawayfromFR on June 18, 2021, 11:39:33 am ---

--- End quote ---

@IsailedawayfromFR

Thank you. My memory is a bit "iffy" these days.

GtHawk:

--- Quote from: sneakypete on June 18, 2021, 04:25:41 am ---Not a problem. The feds will allow those foreclosures to happen and people will lose the homes they never could afford to have bought in the first place.

The banks and finance companies that lent them the money will go bankrupt also,but that's no problem either because the international banks will step in to buy the debt for a penny on the dollar,so it won't be long before they are up for rent again.

This happened the first time in America at the end of the War of Northern Aggression,when the yankee bankers came in and bought up 10's of thousands of acres of farm land for back taxes.

Happened again in the 1930's,and will be happening again soon.

Funny how that works out,ain't it? If you didn't know better,you might almost think that was the plan to begin with.

Wash,rinse,repeat in another 30 or 40 years,and no one will ever remember it happened before.

--- End quote ---
I don't think the banks and lenders will go bankrupt this time. I know that here in California homes are being bought very quickly and people of moderate means are squeezed out because of bidding wars and buyers willing to pay all cash. Also we just talked to a friend that moved to Georgia who said it's the same there, no sooner does she try to purchase a property only to find it's already been bid up 40K. Now when the interest hike and all that's coming hits there will be more people that can't make the payments but the cash to pick them up is out there, I don't think lenders will be squeezed to take pennies on the dollar.

But then I'm often wrong :shrug:

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