Absolutely fantastic and much needed after this day. Folks should not forget the equity that has been withdrawn with the payment deferrals which were the resolution to the forbearances - putting up to 18 months of payments at the back of the loan in a non-interesting bearing lien. This balance, or equity withdrawal - is not being reported to credit or the Fed. So, let's just say their payment was $2K, then that's $36K they don't have in equity that no one knows about....not when they take out that car loan, and not when they sign up for that new credit card....and more importantly - not when they go to sell the house. And thank you as always.
Good take by Greg Weldon “It’s all well and good that the stock market goes up, but if it goes up less than the pace they debase the purchasing power of your money, it doesn’t matter - we’re Argentina.”
Though we are really more like Rome in the Decline and Fall era
Would be a dirty shame if the ChiComs had to sell off some of our nation's biggest food producers.
The War on Cars podcast is blowing my mind. Dozens of thoughts I've had about how awful cars have gotten over the last decade are suddenly connected.
Great post! Lots to chew on. Appreciate all the links.
Thanks! Eclectic stuff.
Absolutely fantastic and much needed after this day. Folks should not forget the equity that has been withdrawn with the payment deferrals which were the resolution to the forbearances - putting up to 18 months of payments at the back of the loan in a non-interesting bearing lien. This balance, or equity withdrawal - is not being reported to credit or the Fed. So, let's just say their payment was $2K, then that's $36K they don't have in equity that no one knows about....not when they take out that car loan, and not when they sign up for that new credit card....and more importantly - not when they go to sell the house. And thank you as always.
So, wait, you’re saying that grandpa was right?
“Ain’t nothing free, boy. Remember that.”
Squares and rectangles, brother. All politicians are criminals. Not all criminals are politicians. And only a few squares are either. 😁😎
Good take by Greg Weldon “It’s all well and good that the stock market goes up, but if it goes up less than the pace they debase the purchasing power of your money, it doesn’t matter - we’re Argentina.”
Though we are really more like Rome in the Decline and Fall era
Fantastic quote
Weldon is one of my favorite macro (and micro) analysts because he's seen it all, and he doesn't mince words.
inadequate oversight led to reckless risk taking..."That's what she said!" https://images.app.goo.gl/av1kNTwx6rBzyYox7