Quote:
Originally Posted by sc_rufctr
The BIG problem?
"We've" never done anything like this before so we don't know what the long term effects will be.
Or who long will it take for people to have confidence in the economy again?
... We could be feeling the effects of this for over a decade. (I hope I'm wrong)
IMO cars sales for one will tank to a level we've never seen before.
... What does that mean for the manufacturers who were barely breaking even before this happened?
And finally... The people who have always taken care of themselves and their families will do the best. This is no time for greed but a bit of selfishness could go a long way to making sure you come out of this in good shape. That doesn't mean you shouldn't help other but don't do it to your own detriment.
This is assuming we don't have a repeat of this with a new virus strain next year or the year after.
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Auto sales had already TANKED BEFORE THE CV...IN 2019 16M autos were produced in the USA and 4.2M REMAINED UNSOLD.
1. Mortgage lenders are giving a 3 month Mortotium on house payment.
2. In NV the governor put a 2 month moratorium on evictions
3. Credit card companies are also deferring paymnets without Penalties OR INTEREST for 30 days...
4. Last week the FED bought 183B in Mortgage backed securities to provide liquidity to Banks. For a total of 500B on the balance sheet last week. The falling Equities are sucking up banks liquidity as they make markets in stocks.
5 The FED is offering 1,000,000,000,000 A DAY AT THE REPO WINDOW.
6. GM is offering 4 month on payment on a 7 year 0% loan
Ford is offerin 6 mo NO PAYMENT nor interest.
7. The FED is buying Muni Bonds to provide banks liquidity so the MOney Market says solvent.
8. ABd the BIG ONE...the FED is contemplating BUYING EQUITIES,
SO PWD no crystal ball just FACTS.