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Re:Millions of Americans skipping payments as wave of defaul... by Throwaway8588 on Wednesday June 03, 2020 @06:57PM (#23409980)
The impact of this is going to be extremely bi-modal.

Working class people are going to be decimated. No income and the cost deferral cliff.

Middle class (office workers are least) and upper class people will do very well. They still have their jobs and their costs have collapsed.

I am no longer paying for gas, childcare, bussing fees, car insurance, and all manner of other things. I can shop at Costco now that I have more time, saving me even more. Nobody is buying lunch out as we now have tons of saved time to make food ourselves. I used the crisis to squeeze by suppliers of internet and cell phone and whatnot. We now save 40% of our take home pay.

Personally the crisis has been great for me.

Re:Millions of Americans skipping payments as wave of defaul... by pcurve on Wednesday June 03, 2020 @08:24PM (#23410852)
I think any savings will be temporarily. Long term effect will be deflationary and wages will eventually go down.
Re:Millions of Americans skipping payments as wave of defaul... by blueblisters on Thursday June 04, 2020 @05:51AM (#23414595)
This seems to be true. Massive income inequality will in turn cause more civil unrest.
Re:Millions of Americans skipping payments as wave of defaul... by novok on Wednesday June 03, 2020 @07:28PM (#23410307)
How did you get cell phone and internet discounts?
Re:Millions of Americans skipping payments as wave of defaul... by thephyber on Wednesday June 03, 2020 @07:39PM (#23410442)
Many companies have advertised that "our customers who are affected by COVID can contact customer support for ..." type of PR messages announcing discounts/deferments.

I actually started collecting the URLs, but there are so many it's not worth centralizing.

Verizon: https://www.verizonwireless.com/support/covid-19-faqs/#bill

AT&T: https://about.att.com/pages/COVID-19.html

Cox Cable: https://www.cox.com/residential/support/coronavirus-response...

Comcast Xfinity: https://www.xfinity.com/prepare