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/biz/ - Business & Finance

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File: 1.68 MB, 1250x2029, 0ce21c4b66711664fcdcc3c3342cb87923b0c9e8b1a25b26728d9eb4b31cd569.jpg [View same] [iqdb] [saucenao] [google]
17890050 No.17890050 [Reply] [Original]

what if a large % of our population just decides to max out their credit cards on necessary goods and bullion but dont have no plans to pay back the banks? would that happen? especially now that everyone is getting unemployed

>> No.17890104

>>17890050
The banks are left bagholding junk debt. Who do you think is begging Trump to give everyone handouts?

>> No.17891066

>>17890104
do you think it will happen if people lose confidence ni the banks

>> No.17891148

Literally nothing, profits would tick down slightly as more $ is allocated to loan loss reserves, that's about it, if the entire credit card Portfolio of a large bank was charged off, it would just be a blip in the grand scheme of things.. but if you're talkong credit union or small bank, it would bankrupt them....That is how absolutely fucked things are right now.....

>> No.17892097

>>17890050
>max out cards
>$50k in debt
>hyperinflation
>You can get $50k by selling your Playstation now
>Pay off debt by selling Playstation

>> No.17892839
File: 8 KB, 250x250, 1583899105984s.jpg [View same] [iqdb] [saucenao] [google]
17892839

last one in is a rotten egg

>> No.17893792

>>17892839
i mean if everyone is going to default on cc debt anyway due to emergency spending these next few months whats the harm

>> No.17893813

>>17890050
doesn't matter the money they spend is fake imaginary money anyway.

>> No.17893831

you're supposed to keep your heels on the ground when you go ass to grass
dumb bitch

>> No.17894771

>>17893813
True but you can own real assets with it....that’s what matters

>> No.17894903

>>17892097

kek

>> No.17895054

>>17890050
You mean how most poor people already live?

>> No.17895076

>>17894771
>>17890050
My guess is it's 50/50 since the bank has a paper trail of your spending. depends how hard they go after your assets and whether they sell to collections.
crypto is pretty inconfiscable, worst thing that can happen is you being accused of fraud/intent to not pay back (so you go into jail) but your buttcoins are still safe.
Depending on state creditor/debtor laws you may even get away with hoarding gold and stocks... but again like i said best to look into it before deciding to go ahead.
Property/vehicles are the most vulnerable to repo so if you have assets already this is probably not the route to take.

>> No.17895089

>>17893831
I can't do that. What can I do to practice?

>> No.17895156

There is a movie where a family (father,mother and young son) basically just do that and suicide when they run out of money.
Can't remember the name, though.

>> No.17895277

>>17890050
Imagine the fucking smell. I would give anything to smell an ass like that.

>> No.17896298

>>17892097
Lmao. Should i run up a credit card. Seriously believe the usd is gonna go the way of the Zimbabwean dollar if they keep up what they are doing

>> No.17897083

>>17896298
I've thought about it a lot too. I try to reign myself in but the feeling that "shit's all fucked" is inescapable

>> No.17897516

>>17896298
>>17897083
do it.

>> No.17897523

>>17890050
who's this scat queen?

>> No.17897578

>>17890050
>max out credit cards
>get $40k...ready to go out in style
>get to vegas. closed.
>everywhere closed.
>need to be off streets by 6pm
>check into roadside motel
>watch everybody loves raymond until death

>> No.17897648

>>17895054
was waiting for this...

>> No.17897692

did people get to just keep their houses when banks failed last time?

>> No.17897728
File: 58 KB, 400x299, Baby ATG squat.jpg [View same] [iqdb] [saucenao] [google]
17897728

>>17893831
Little harsh, she obviously doesn't lift.
>>17895089
You have to stretch your calf. If you run a lot you will often have tight calfs so you don't want to squat to soon after running until you get the flexibility. You can take a wide stance and see how wide it has to be to go ATG and gradually work your feet in to a normal position.

Also, foam role your whole posterir chain, calfs, hamstrings, glutes, you want everything limber. You don't want to compromise your balance or posture either. No point in trying to go ATG and you bend over so far. Its so easy that babies can do it.
>pic related

Also make sure you are front squatting and high bar squatting. Low bars squats have the least carry over to other sports, they are basically just masturbating with a bar on your back, like sumo deadlifts are decline bench.
>https://www.youtube.com/watch?v=GGXfBta2T5A