Originally Posted by cumminscowboy
get this, there is about 11 trillion in mortgage debt in total. 2 trillion is about 18% of that. The average mortgage balance is about $150k What that means is the government could send everyone with a mortgage $27,000 to pay it down!!!! holy freaking crap.

The mortgage and CC debt was already the highest it's ever been before this virus hit. People were living on plastic, and the true economy was being hidden from the public's eyes. The government was doctoring the books like they always have, hiding true growth numbers. If you back out the deficit numbers from GDP, you get a negative GDP. We haven't had true growth. It's been negative. People living on CC and driving their balances up and up, proves it.

Now with no jobs, it's about to get real sporty, especially with the shutdowns, which signal no hope in the public's eye's of not knowing when they can return to their jobs.

The unemployment numbers coming out tomorrow will be the first bomb dropped to shock the public into the dire reality of all of this.

You want to see what a cascading stock market looks like, watch tomorrow when that 2,000,000 - 3,000,000 unemployment figure hits the public domain, and you better be riding suicide, because that Bull is going to be spinning the crap out of you.

Yeah, it will be one wild ride, and it will last more than 8 seconds, I can guarantee you. More like 8 years....if you're lucky.

This isn't my first rodeo through an economic situation like this.

I know what's coming.

"He is far from Stupid"

”person, who happens to have an above-average level of intelligence”


– DocRocket (In reference to ElkSlayer91)