Is the US Economy Heading for Recession?

[jhungary]

Hey, that's not a bad idea. I am calling my mortgage company too.

But what if there is a VERY SLIM OUTSIDE CHANCE that US Dollar is not going down? I don't want to pay the rate penalty........

 

[VCheng]

But what if there is a VERY SLIM OUTSIDE CHANCE that US Dollar is not going down? I don't want to pay the rate penalty........

No, the Oracle has spoken. The dollar dies 28th May. The end! No Moal Dorral Fal You!

 

[anon45]

US has been "about to collapse" for last 10 years now.

US has been about to collapse since 1776

 

[C130]

stagnation or even -0.1% recession is still better than what Russian,Brazil, and Venezuela are suffering.

let's hope it doesn't become like 2008. instead of U.S recession your'll be seeing World recession

 

[xyxmt]

I am rooting for collapsing US economy........Just so the other will shut up about it lol..........

The quicker the collapse the better, I just borrowed 500,000 AUD for my new house a year ago. Please, Commonwealth Bank and Bank of America, Please do go bankrupt.

if they go bankrupt they forgive your loans?
this is the new economic principle

 

[jhungary]

if they go bankrupt they forgive your loans?
this is the new economic principle

You don't forgave someone's loan, you "write-off" bad debt.

And we are talking about US Dollars collapse on May 28 2016, do you know what will happened when US dollars collapse? Bank close because they can no longer exchange the USD in credit to actual money, the credit system is gone, and everything with the "President Head" in it would be worthless, hence my loan would immediately lose it value overnight, that means my loan will worth whatever the USD can credit me, and since that's gone, that mean I owe nothing. That is what economic principal dictate.

This is very basic economic principal buddy........

 

[C130]

the whole world economy is one big ponzi scheme/. you can't have growth without debt and you need more debt to fuel growth an to d pay off the interest of that old debt which requires more debt..rinse and repeat


all it takes is for one domino to fall. U.S is too big to fail

 

[ForgetfulUsername]

If anything their position just got more stable from China's collapsing economy .

 

[xyxmt]

You don't forgave someone's loan, you "write-off" bad debt.

And we are talking about US Dollars collapse on May 28 2016, do you know what will happened when US dollars collapse? Bank close because they can no longer exchange the USD in credit to actual money, the credit system is gone, and everything with the "President Head" in it would be worthless, hence my loan would immediately lose it value overnight, that means my loan will worth whatever the USD can credit me, and since that's gone, that mean I owe nothing. That is what economic principal dictate.

This is very basic economic principal buddy........

no one writes off bad debts because bank is bankrupt or going our of business, a loan is an asset for a bank and they sell those assets to other institutions. If this was the case million of people would have free houses now in the US after lehman brother closed doors.

 

[jhungary]

no one writes off bad debts because bank is bankrupt or going our of business, a loan is an asset for a bank and they sell those assets to other institutions. If this was the case million of people would have free houses now in the US after lehman brother closed doors.

Dude, first of all, you said "Forgive" I simply correcting your term, I never said the bank is writing off my loan.

Did you actually listen to what I said on the previous post? The flow I owe 500,000 to nothing is this.

1.) US Dollar collapse on May 28, 2016.
2.) Bank cannot give out and receive credit due to dollar value collapse.
3.) Bank goes bankrupt due to unable to convert money to credit and vice versa.
4.) Bank try to sell my loan to someone else after the gone bankrupt.
5.) My $500,000 loan will not worth $500,000 USD anymore (US Dollar collapsed, remember?)
6.) Bank forced to sell off my loan either to other US bank (Which still worth nothing, US Dollar collapsed, remember?) or sold to overseas banks
7.) Since exchange rate will be thru the roof (Again, US Dollar Collapsed, remember?) $500,000 USD loan will not worth $500,000 anymore.
8.) I don't live in the US, so If I pay my due before the collapse, I will have to pay $900 AUD, but if I pay after the collapse, I can pay excessively less than $900 AUD. Probably around $1 AUD if USD worth less than nothing

Hence I can buy out my loan with less than nothing (USD Collapsed, remember?)

Now, did you see my point?

 

[xyxmt]

Dude, first of all, you said "Forgive" I simply correcting your term, I never said the bank is writing off my loan.

Did you actually listen to what I said on the previous post? The flow I owe 500,000 to nothing is this.

1.) US Dollar collapse on May 28, 2016.
2.) Bank cannot give out and receive credit due to dollar value collapse.
3.) Bank goes bankrupt due to unable to convert money to credit and vice versa.
4.) Bank try to sell my loan to someone else after the gone bankrupt.
5.) My $500,000 loan will not worth $500,000 USD anymore (US Dollar collapsed, remember?)
6.) Bank forced to sell off my loan either to other US bank (Which still worth nothing, US Dollar collapsed, remember?) or sold to overseas banks
7.) Since exchange rate will be thru the roof (Again, US Dollar Collapsed, remember?) $500,000 USD loan will not worth $500,000 anymore.
8.) I don't live in the US, so If I pay my due before the collapse, I will have to pay $900 AUD, but if I pay after the collapse, I can pay excessively less than $900 AUD. Probably around $1 AUD if USD worth less than nothing

Hence I can buy out my loan with less than nothing (USD Collapsed, remember?)

Now, did you see my point?

in all these cases your house will be worth no more than a dog shed

 

[jhungary]

in all these cases your house will be worth no more than a dog shed

Dude, who cares, USD is going to collapse anyway, nothing would have value then.

And a house is an equity not an liquid asset, so it will worth anything that worth in post collapse world.