Forbearance Chickens, Roosting

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Life has been put on chokehold for most of this year – perhaps permanently – but the payments are coming due.

Many people can’t afford to keep making them, however – due to their jobs being cancelled by decree of the Gesundheitsfuhrers. While some of the cancelled jobs have come back many never will. It’s hard to keep your doors open when you’re only allowed to operate at 50 percent capacity – assuming you’re allowed to open them at all.

Or forced to close them, again.

For awhile, there was “forbearance” – which means you still owe, just not right now. The payments don’t go away, though. And in some cases, they compound.

Interest on the growing principle.

In a kind of psychological reverse withholding, people (who didn’t read the fine print) were gulled into believing they had more rather than less money because they weren’t expected to spend it on things like car (and home) payments.

For now.

But that was then.

Forbearance is ending, even though the chokehold has only been partially relaxed and many businesses – and thus, jobs – have been choked out, for good.

But he bills are coming due – plus interest.

Meanwhile the weekly stipend from the government offered up as a palliative measure has been dialed back, resulting in payments (plus interest) on car loans not being made.

TransUnion – one of the major credit reporting bureaus – reports that the number of “cases” of delinquent loans is hot-spotting. It’s now over 3 percent – which is about three times as high as the percentage of the population supposedly slumber-roomed by the WuFlu.

It is many times higher than the percentage of the population actually slumber-roomed by the WuFlu alone (about 9,400 according to the “science” – as admitted to by the CDC but rarely reported by the media; the other 190,000 or so having been slumber-roomed by old age, COPD and other “co-morbidities” that normally slumber-room people in those categories every year, regardless of the flu, wu or otherwise).

More proof that the cure is worse than the alleged disease.

The question now is – how much worse will it get?

For now, the government is still paying the people it unemployed as much as $400 per week – in addition to normal unemployment benefits.

It’s a tidy sum to be paid – for not working.

But that’s a $200 per week reduction in the original $600 weekly no-work palliative – which some observers regard as the Beta Testing of the permanent palliative which the government has in mind to keep people idle – and paying:

Universal Basic Income.

Pay everyone to not work.

This makes not working agreeable.

The problem, though, is that someone will have to work to pay for all of this not-working but still paying – the government not having any more money than it confiscates through taxes, applied to those who do work.

How much more will it have to confiscate – or print – to make all of these payments for not-working to keep people paying?

Especially now that the not-working have $800 less to pay per month – which is having the predictable effect of many of those not-working not being able to pay as much.

The Democrats promise to restore the weekly palliative to $600 once they rid the White House of the hated Orange Man, who has had the effrontery to go back to work himself – sans the Diaper! – and urges others to do the same.

He wants to stop paying people not to work – in order that they can make payments on the things they purchased, rather than use the government to force people who didn’t purchase them to pay for them.

The Hair Plugged Man wishes to keep on paying the not-working so as to palliate the chokeholding (and Diapering) of the economy (and population) for the sake of “stopping the spread” of a sickness that makes almost no one seriously sick and even fewer actually dead.

If he rousts the Orange Man, it’ll be Diapers and Needles – and UBI, perhaps contingent on being Needled.

Maybe those who are still working will begin to decide not to as well. In order to avoid the taxes they’re forced to pay to subsidize the not-working. Then who will pay the taxes that pay out the UBI?

It’s a question the Orange Man ought to ask the Hair Plugged Man at the next debate – assuming there is one.

Assuming we can hear what either of them say through the Face Diaper they’ll probably be wearing.

Though perhaps the Orange Man will remove his – or even better, not wear the thing at all.

If he does, he’s got my vote.

I’d rather work – and pay my own bills. But that may be a quaint – an odd – notion to cling to in an era of forcing people not to work – and forcing others to pay for it.

. . .

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5 COMMENTS

  1. One day this all will crash and burn. Something will make it just stop working. The genie won’t go back in the bottle. There will be no more monkeying around with it. There will be no going back.

    What will cause it to stop working? That’s a good question. It’s amazing it hasn’t happened already.

    The thing is, when the American dollar collapses, it will probably take down all the worlds currencies with it. Most of them are even more of a house of cards. It’s all the fault of the elites of the world.

  2. “Money” can be printed. Wealth cannot be. However, printed “money” is an excellent tool for the extraction of wealth from what’s left of the middle class, and deliver it to the bank cartel and its minions in government and favored corporations. As private assets come under debt stress, they can be bought on the cheap by these parasites with “money” created out of thin air. If they don’t just foreclose on them outright. This catastrophe should have been foreseen, and quite possibly was. When the entirety of the culture is subjected to the dictates of “experts”, no consideration of any other aspect is engaged. “Experts” by definition have a very narrow view of the world, seen only through the lens of whatever field the “expert” is expert in. In this case, medicine. If a drug won’t fix it, its not a problem. The old hammer and nail conundrum. No consideration given to the wide range of other factors that are necessary to the function of life. No attempt to balance medicine against economics, or social interaction, or the psychological effects ignoring them generates. I strongly suspect that the numbers we will never see would indicate that the “cure” is definitely worse than the disease. We are not likely to ever see the number of increased deaths from suicide, homicide, drug and alcohol abuse (guilty of the latter), domestic violence, malnutrition etc.compared to the wildly exaggerated deaths from COVID. There is an agenda in play, and it has not a single thing to do with our health. One obvious goal is the destruction of private businesses that compete with corporate businesses. Amazon is doing great. They mean for us to live in the company town, work for the company, get paid in company script, which we spend in the company store, until the company determines we aren’t cost effective, and we’re sent to the company crematoria.

  3. Not only do we face a very real threat of inflation (thanks to this year’s economic hijack), but now Treasury yields are starting to rise. This will create some big problems if it continues since everything now is predicated on ultra-low rates. When all these chickens finally come home to roost, I feel sorry for whoever has to clean up the coop.

  4. The one time $1200 “stimulus” checks are a slap in the face. If you’ve worked your whole life and put away enough (against the active and aggressive efforts of the government and its corporations) to have your own business and live freely- you’re getting trebly screwed by this.

    The mask wearing evil fu#ks who continue to perpetuate the fear that we are somehow dealing with a deadly plague have killed the real economy. Corporations big enough to reach uncle’s tit and suck on it are doing fine. Employees are doing fine and if they’re laid off, doing even better.

    Meanwhile your savings are dwindling, being inflated away, and you’re getting stressed. Meanwhile, property taxes and income taxes will be coming due. The less than least a legitimate government would do would be to set those to zero for the year- since they’re counterfeiting money by the trillions anyway.

    A healthy economy and society do not come from plutocrats and oligarchs, corporations, or peasant workers/employees. It comes from the hated bourgeoisie- the independent men “of small wealth” who make communities and nations.

    Time to hoist the black flag and start slitting… I do believe we’re past Claire Wolfe’s awkward stage.

  5. Depends on which state you live in … but this article lists 17 states which already have exhausted the federal share of bonus unemployment payments:

    https://www.cnet.com/personal-finance/the-300-unemployment-payment-is-over-in-many-states-with-little-hope-of-an-extension/

    Among the Sad Seventeen are the megastates of Texas, California and Florida.

    How this sudden austerity is supposed to re-elect the incumbents is unclear. Yesterday, stocks tanked in the final hour after Trump ordered his henchmen to cut off negotiations with the DemonRats.

    This morning he’s backpedaling, saying he would sign another round of $1,200 stimulus checks in a heartbeat.

    Neither party understands or cares that thin-air money isn’t free. Long-term, it must (1) destroy the external value of the dollar; (2) send prices of necessities soaring; (3) impoverish the populace; (4) induce political chaos and possibly civil war.

    The entire Federal Reserve Board of Governors should be facing capital charges for (inter alia) counterfeiting, larceny and conspiracy. Up against the wall, PhD punks!

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