Coronavirus

[jasonc]

We were told not to take the Guard lightly after Hurricane Celia. Looters were to be shot.

I would like to see that roe.we armed our self a few times and duribg Andrew the guard arrested and controlled traffic.looters unless they break into a hospital,power plant ,utilities,govt buildings ,commit arson or to damage ,we can't simoly summary execute.

The military seldom arms it troops doing this.besides we fall under the county once called up.

 

[Michael74]

The Chinese found that the actual is anywhere from 5 to 10 times the confirmed.

So the current 279,500 becomes up to 2,795,000.

 

[Michael74]

Our last trip to the store had about 20% in masks....time before that was about 10%. Hopefully that continues to improve to larger and larger percentages bothering with PPE as masks become available.

They don't even have enough real masks for doctors. The CDC told civilians to make their own out of old T-shirts, and don't buy real masks. The lack of real masks may affect how fast 19 spreads compared to other nations.

 

[jasonc]

The biggest winner from all of this are the banks
People left without work will have to forfeit their mortgage

In China the government owns the banks so anyone who defaults on their mortgage in China is handing over the property to the government

Banks loose in that .I owe over 100 grand on a 146 k loan.if I were to be foreclosed ,they can't sell that house for over 42 grand and of that they make 12 k.30k to pay a lawyer to sue me .

 

[Michael74]

"Let them eat cake" is a policy that will come back to haunt them.

They may not even realize how much suffering they are causing the common people. The FDA should be disbanded, and replaced with something that makes the interests of the people its priority.

 

[Christ the King]

Banks loose in that .I owe over 100 grand on a 146 k loan.if I were to be foreclosed ,they can't sell that house for over 42 grand and of that they make 12 k.30k to pay a lawyer to sue me .

Why couldn't they sell that house for over 42k?

 

[jasonc]

Why couldn't they sell that house for over 42k?

Law

 

[jasonc]

Besides most are in bad shape when they foreclose and the bank wouldn't after fixing it and keeping insurance on it ,make much.abandoned and derelict lots are a favorite subject of photos .

 

[Christ the King]

Law

Why then would anyone lend money if they can loose it that easily.
I don't get it. Give me another example

Say I borrowed 400k to buy a house for 500k
Then after paying back 200k i can't pay anymore and the bank repossesses the house
They can then go and sell that house for 500k, can't they?

 

[jasonc]

Why then would anyone lend money if they can loose it that easily.
I don't get it. Give me another example

Say I borrowed 400k to buy a house for 500k
Then after paying back 200k i can't pay anymore and the bank repossesses the house
They can then go and sell that house for 500k, can't they?

Nope ,42k.they then sell via foreclosure list and a house flipper buys it and either rents it out or flips.foreclosure brings homes values down

 

[Michael74]

Why then would anyone lend money if they can loose it that easily.

They are not lending their own money. They just create new credit, and lend that out. This causes inflation.

To put this another way, they confiscate goods from the majority via inflation, and lend those goods out. Then people repay the bankers, instead of the people whose goods were confiscated. If some of the loans aren't repaid, banks just create additional credit (confiscate additional goods) to bail themselves out.

When they can confiscate other people's goods at will, it doesn't really matter if they have a sensible business plan or not.

 

[jasonc]

Its harder then you think to get a mortgage

 

[JohnDB]

Why then would anyone lend money if they can loose it that easily.
I don't get it. Give me another example

Say I borrowed 400k to buy a house for 500k
Then after paying back 200k i can't pay anymore and the bank repossesses the house
They can then go and sell that house for 500k, can't they?

Yes, and give you the money over the costs they had in repossessing and selling the home and their owed portion including all interest.
Meaning that they may be owed $200k but they will get another $100k in fees and expenses... leaving you with only $200k in cash of the $300k you should have gotten.

 

[jasonc]

400 to 500 k isn't much for a house

 

[JohnDB]

Back to metrics...
Look at the ratio numbers of tests given to those positive.
Look at the percentages increase of total cases.
Look at the percentages increase of deaths vx total deaths.

These are what people look at for metrics of winning vx losing the fight.
Currently we are losing.

 

[Christ the King]

Nope ,42k.they then sell via foreclosure list and a house flipper buys it and either rents it out or flips.foreclosure brings homes values down

So the bank then looses a heap of money. I don't understand why they would take the risk of lending then.

So this "flipper" can buy this house for 42k and sell it for the market value of 500k
Who exactly is a house flipper anyway? Just a random person?

 

[JohnDB]

So the bank then looses a heap of money. I don't understand why they would take the risk of lending then.

So this "flipper" can buy this house for 42k and sell it for the market value of 500k
Who exactly is a house flipper anyway? Just a random person?

An investor...buys houses from distressed homeowners for reduced prices fixes them up and resells them at full market value.

 

[jasonc]

So the bank then looses a heap of money. I don't understand why they would take the risk of lending then.

So this "flipper" can buy this house for 42k and sell it for the market value of 500k
Who exactly is a house flipper anyway? Just a random person?

Because on the barrier island ,that house would sold,leveled and bigger one built and more in value ,80 year old homes sell for 400k in the beach ,

That and the investor is paid by a bank that the buyer uses.its risk but not as risky as a car ,credit cards

 

[Michael74]

Currently we are losing.

You can't win a war without weapons and ammo (tests, masks, meds, etc...)

 

[Christ the King]

400 to 500 k isn't much for a house

True it was only an example
So the bank must sell a house valued at 10mil for only 42k and loose millions
And who gets the privilege of buying such a deal?
Just random people?