U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Recession

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by balls187 on Wednesday April 29, 2020 @11:22AM (#23020322)

> I fully expect, and you should too, foreclosures to skyrocket and people to be on the street.

Why, in the worlds wealthiest nation is that something I should expect?

[ Parent | on HN ]

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by derg on Wednesday April 29, 2020 @11:39AM (#23020506)

Because those who write the rules are going to use the massive number of foreclosures to buy up property dirt cheap like they did in '08 and beyond.

It's a feature, not a bug. We're seeing one of the largest transfers of wealth from the poor to the wealthy ever and it's only getting worse. The cruelty is the point.

Oh also don't forget the number of people who are, or will shortly be, underwater with their car payments too. That's another ticking time bomb.

[ Parent | on HN ]

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by balls187 on Wednesday April 29, 2020 @12:00PM (#23020750)

Ahh, I didn't read that parent comment with a sense of sarcasm.

As long as I have breath in my lungs, I will do whatever I can for the least of my brothers.

[ Parent | on HN ]