A Quote by Kayla Tausche
An improving credit landscape means fewer loans are delinquent - and fewer people are needed to service these loans.
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So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations
that they have less to spend on goods and services. So markets shrink. New investment and employment fall off, and the economy is falls into a downward spiral.
The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in negative equity and fewer people are going to walk away from the mortgages. That will save the from taking a loss on their junk mortgage loans.
Our focus is more on secured retail business like housing and car loans. While we will do some unsecured loans - credit cards and personal loans - we will do it primarily with existing customers.
Investing intelligently in those of us who are marginalised means fewer people in jail, fewer homeless, fewer unemployed, fewer of us who are forlorn and depressed, fewer people addicted to things that drag us down... Because as we invest in those that do it tough, we will see more Australians taking pride in themselves, having realisable dreams and aspirations and making their own positive contribution to the world's greatest nation.
A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
If I'm a bank, and I'm making risky loans, I have an incentive, if I can, to make those loans using other people's money: in other words, to make highly leveraged loans.
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
If banks anticipate government will come to the rescue should the credit market go badly awry, they may make loans that would otherwise be imprudent, e.g. subprime loans with little prospect of repayment.
If we focus our economy on improving human outcomes instead of just a topline GDP that is increasingly going to fewer and fewer people, we can see what Americans can do when they're free to unleash their true potential.
A world where wages no longer rise still needs consumers. Middle-class purchasing power has been maintained through loans, loans and more loans. The Calvinistic reflex that you have to work for your money has turned into a license for inequality.
If there were not derivatives, there would be no bank loans at all today, because people want to get fixed-rate 30-year loans, but banks don't want to keep 30-year loans on their books.
I'm not a believer in predetermined fates, being rewarded for one's efforts. I'm not a believer in karma. The reason why I try to be a good person is because I think it's the right thing to do. If I commit fewer bad acts there will be fewer bad acts, maybe other people will join in committing fewer bad acts, and in time there will be fewer and fewer of them.
We are entering a new phase in human history - one in which fewer and fewer workers will be needed to produce the goods and services for the global population.
Economically, long-term joblessness means fewer dollars for consumption. For deficit control, it means fewer taxpayers contributing to government revenues and tens of billions more spent on unemployment insurance.
What this country needs is more people to inspire others with confidence, and fewer people to discourage any initiative in the right direction more to get into the thick of things, fewer to sit on the sidelines, merely finding fault more to point out what's right with the world, and fewer to keep harping on what's wrong with it and more who are interested in lighting candles, and fewer who blow them out.
Under Bill Clinton's HUD Secretary Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting.
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