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Well duh
Apr 15, 2020 12:16:06 GMT -5
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Post by Dave's Not Here Man on Apr 15, 2020 12:16:06 GMT -5
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Well duh
Apr 15, 2020 13:38:45 GMT -5
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Post by bobathon on Apr 15, 2020 13:38:45 GMT -5
On the positive side, banks have been told by the Trump administration that if someone has overdue debts, the bank can go ahead and intercept those keep-getting-by funds to pay them.
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Well duh
Apr 15, 2020 14:39:53 GMT -5
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Post by Dave's Not Here Man on Apr 15, 2020 14:39:53 GMT -5
Haven't heard that one yet but did hear that if you have outstanding tax debt, judgements, etc you are screwed. But what if I told..... I wasn't surprised in the least?
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Post by minx on Apr 15, 2020 16:14:34 GMT -5
You want to get even more depressed, rent Inside Job (we borrowed it from the library). Documentary about the 2008 crash - they did a really good job of explaining it IMO.
Banks are right back where they were in the early 2000s, and it's not going to be pretty.
Was reading that consumer spending was down 70% last month. Haven't seen the figures for late or missed payments on credit cards and car loans, but they can't be pretty either.
Since the majority of my cash is in a 401(k), all I can do is sit and stock up on canned beans.
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Well duh
Apr 15, 2020 16:21:26 GMT -5
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Post by Dave's Not Here Man on Apr 15, 2020 16:21:26 GMT -5
I saw that when it came out. Even if it was only 20% accurate it's as frightening as it is infuriating.
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Post by minx on Apr 16, 2020 10:56:15 GMT -5
Should be mandatory viewing for all, especially students.
They can watch it, then research the financial laws in place then and compare then to the current laws. Discuss if things have changed and if they feel the change was for the better. What would they like to see happen next in terms of financial regulations (or lack thereof)? Then find out who their representatives are in Congress and the Senate. Who sits on banking/finance committees? Write a letter to each advocating for their viewpoint in the issue.
Civics, personal finance, and economics rolled into one class! As an added bonus, perhaps a lesson on independent thinking as well, since you'd have to be able to advocate for your viewpoint, regardless of what side of the issue you were on!
This of course assumes that we'll be able to pay teachers when the economy collapses....
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