The Worst Economic Collapse In History Is Starting Now: Be Prepared

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  1. #31
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    The Worst Economic Collapse In History Is Starting Now: Be Prepared

    Once these cities, towns and states realize that their tax revenue has drastically dropped, I wonder how long it will be before they start laying off their government employees and or cutting their pay and benefits.

    and with everybody thats going to default on their credit cards, rents, mortgages and car payments soon the banks are going to fail once again along with all the car companies as well.

    but remember the banks and their stress test? they all passed with flying colors. so theoretically they all should be fine right? no. in 2009 it was only a one time bailout it would never happen again right? lol.

    it’s never ending money printing and bailouts. The dollar is going to be worth next to nothing. inflation is going to drastically reduce the quality of life for most Americans.
    Last edited by Swiper; 03-29-2020 at 08:49 AM.

  2. #32
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    Quote Originally Posted by Swiper View Post
    “Cheesecake Factory, Subway, other major retailers tell landlords they can’t pay April rent due to coronavirus”

    https://www.google.com/amp/s/finance...141920106.html

    there’s a couple of big ones that might be going Under, if the landlord doesn’t get his rent he can’t pay the bank And the bank fails.
    this is only the beginning.

    there are mortgage forbearances in place for everyone, all any one have to do is file. I've already done it for my houses and I suggest everyone do that same

  3. #33
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    “MASKED RAIDERS Shocking pictures show coronavirus looters in face masks after attacking shops during lockdown”


    https://www.the-sun.com/news/626544/...hops-lockdown/

  4. #34
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    “New York City Sees More Burglaries of Businesses Under Coronavirus Emergency Measures”


    https://www.wsj.com/articles/new-yor...es-11586008801

  5. #35
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    Quote Originally Posted by Swiper View Post
    “New York City Sees More Burglaries of Businesses Under Coronavirus Emergency Measures”


    https://www.wsj.com/articles/new-yor...es-11586008801
    The big cities are gonna take a beating from all this. Still just the beginning im afraid. Shit criminals will always take advantage of shit however when you add people out of work that are desperate its a whole different beast

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    Quote Originally Posted by The Admin View Post
    The Worst Economic Collapse In History Is Starting Now: Be Prepared

    Why don't you post an original thought?

    I AssUme you're semi-cerebral, so wtf?
    Are you Sumner? Bomber?
    Fuck man, grow a pair...


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  7. #37
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    “The Trump Organization reportedly asked to delay paying its loans after coronavirus impact”

    https://www.google.com/amp/s/www.bus...t-2020-4%3famp

  8. #38
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    Quote Originally Posted by Swiper View Post
    “The Trump Organization reportedly asked to delay paying its loans after coronavirus impact”

    https://www.google.com/amp/s/www.bus...t-2020-4%3famp
    Donnie claims to be worth $10B yet he can not make monthly P&I payments on a $350M loan.
    Maybe he should ask Bloomberg or Bezos for a bridge loan to get him over the hump.


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  9. #39
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    Quote Originally Posted by bruiserdog View Post
    Donnie claims to be worth $10B yet he can not make monthly P&I payments on a $350M loan.
    Maybe he should ask Bloomberg or Bezos for a bridge loan to get him over the hump.


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    if you took two minutes to read the article and research this you would know those loans are backed by President Trump personally, so if the bank chooses not defer payments he will be paying them out of his personal funds.

  10. #40
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    Quote Originally Posted by Swiper View Post
    if you took two minutes to read the article and research this you would know those loans are backed by President Trump personally, so if the bank chooses not defer payments he will be paying them out of his personal funds.
    I read the article, he has recourse loans, which is uncommon for institutional real estate loans, but given his many bankruptcies he was forced to give personal guaranties.

    Why do the personal guaranties matter? Donnie is the sole owner of the Trump Organization, so why does he need to defer the monthly debt payments if he is worth $10 billion. Assuming the loans are interest only, say 5%, the monthly interest payments would only be about $1.5 million (or $2.5 million if they are amortizing). I would think a guy that is allegedly worth $10B could pay $1.5 to $2.5 million for a few months until business gets back to normal.


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  11. #41
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    A number of small businesses generate a small profit every month. 95% of revenues go toward costs. When revenues disappear, they not only have no profit, but they cannot pay rent, utilities, and payroll. I know of local small businesses that have already closed and probably will not be open again.

    There is no "pause" for these business or their employees who now have to try and find work with ten million other unemployed Americans (can't wait to see the new unemployment numbers tomorrow for last week).
    Last edited by malfeasance; 04-08-2020 at 04:31 AM.

  12. #42
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    "Americans Not Making Their Mortgage Payments Soar By 1064% In One Month"

    https://www.zerohedge.com/economics/...1064-one-month

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    Quote Originally Posted by Swiper View Post
    "Americans Not Making Their Mortgage Payments Soar By 1064% In One Month"

    https://www.zerohedge.com/economics/...1064-one-month
    Most mortgages have a 15 day grace period that has not expired yet so I would be suspicious of the numbers

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    “24 Hour Fitness weighs bankruptcy as coronavirus pushes fitness industry to brink”

    https://www.cnbc.com/2020/04/18/24-h...-pandemic.html

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    “SAN ANTONIO — Gold's Gym announced that due to the impact of coronavirus, they will permanently close 30 locations across the country, including three in San Antonio.”


    https://www.google.com/amp/s/www.ken...6-bf6419884093

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