mortgages are vastly less structurally important than they were in 2007-2008. they might let it collapse.
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related, i'd estimate the federal government could create $10T of new debt and be better off for it. funny how that works.
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I'm not sure this does mean prices collapse Financial panics are pretty deflationary
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this is why it's better to just give ppl money directly instead of trying some weird regulatory thing which ultimately flows through and has you giving money to ppl anyways except then it skews towards rich landowners & bankers and stuff
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Not sure your point matters here. The money printer already went brr - but instead of at the end as in your thesis, it went brr for individuals and consumers. That's going to stop, meaning that your "maybe"s becomes "definitely"s
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Lot of money ended up going into corporate accounts. CARES gave roughly 6k to companies per person in the workforce, with the idea that it would be cheaper than the UI increase
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yeah my feeling with a lot of these house of cards scenarios is that the key is like letting it fall over gently, rather than all at once
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It’s very important btw to allow some falling over to occur
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I'd be curious what the historical rate of evictions was during the Great Depression. Seems like a relevant comparison. TLDR version is everything probably ends up fine overall, poor hardest hit as always.
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Housing during depression was far less financialized I think
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