XPost: fl.politics, houston.politics, tx.politics
XPost: az.politics, alt.abortion
Landlords should not be allowed to evict tenants.
Banks should not be allowed to foreclose on mortgages.
For COVID, and for 1 year following the reopening of business after COVID.
All companies need to know this, and act accordingly.
And renters credit reports and references need to be protected for COVID-19.
New lending, debt, and renting ought not be subject to this provision.
Debt and rent acquired before this provision ought be subject.
For instance non-payment of credit card debt acquired before the provision date,
ought to still say "OK" or "PAID AS AGREED" during COVID, and for one year following COVID, and no lawsuits ought be allowed to ensue. Likewise, landlords
ought not be allowed to give bad references regarding nonpayment of rent during COVID, or be reported to a government agency which will handle it, and no lawsuits
in favor of landlords for back payments or non payments during COVID and for one
year following COVID ought to be allowed - while the same landlords will have no
obligations to bank mortgages. But new rentals and new debt ought not be subject
to this provision.
New lending, debt, and renting ought not be subject to this provision.
We desire and demand, to both Congress and the Courts, both this forbearance, and
$1,250 per month for every man, woman, and child, until one year after COVID is over.
Dependents should get their payments directly akin to child support.
And the Fed ought to fully protect the banks.
The demand for bonds is the supply of loanable funds. The supply of bonds is the
demand for loanable funds. And then Congress issues the bonds, and increases the
National debt. The Fed buys the bonds to any amount it wants, as well as increases banks' credit. The other side of an expansion (monetary or fiscal), is
inflation, which is not the problem/concern right now. Listen to Ben Burnanke on
60 minutes:
https://www.marketplace.org/2020/04/10/federal-reserve-assistance-extra-credit/
Debtors, and renters, and mortgages debtors have all intent and ability to repay
in the future. The banks are not holding troubled assets. This is an Economic Pause, not a recession, not a Great Depression, if the above is done.
So in addition to the Fed lending by buying bonds, the Fed lends by increasing banks' credit:
"The Federal Reserve System was designed as an attempt to prevent or minimize the
occurrence of bank runs, and possibly act as a lender of last resort when a bank
run does occur. Many economists, following Nobel laureate Milton Friedman, believe that the Federal Reserve inappropriately refused to lend money to small banks during the bank runs of 1929; Friedman argued that this contributed to the
Great Depression."
https://en.wikipedia.org/wiki/Federal_Reserve#Addressing_the_problem_of_bank_panics
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