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Posts
48
Comments
496
Joined
2 yr. ago

  • Waitaminit...

    If a bank sells a mortgage, there obviously has to be a buyer.

    Any buyer who does their due diligence is going to see a mortgage on a commercial office property, and weigh the risks of the borrower defaulting on their mortgage, or the borrower not being able to refinance when the mortgage is due.

    So given the current environment for commercial offices, any reasonable buyer is going to offer to buy commercial office mortgages at a discount, maybe even at a significant discount, which likely means a financial loss for the bank anyway.

    So what's the difference if the bank holds on to the mortgage, and if the borrower defaults, then seizing the building, i.e. the real asset, and auctioning it off for whatever it can get?

    Wouldn't the loss on a mortgage default and asset seizure, likely the be about same as the loss as selling to a prospective buyer for the mortgage, a buyer who had properly calculated a discount for the risk into their purchase price?

  • US courts can still try him in absentia, i.e. if he's not present in the courtroom.

    If he's in a country with an extradition treaty with the US, e.g. the UK, he can be extradited to the US for the trial or with a conviction.

  • The official reason for the introduction of the six-day work week is that there is a shortage of skilled workers on the Greek labor market as the population keeps shrinking and the country losing scores of thousands of workers who fled during the economic and austerity crisis in search of jobs in other countries.

    So "The austerity and beatings will continue until morale improves."

  • I've been saying this for years: The US economy is not "growing" not because we're making more and better products, but because we're commercializing social support systems that we used to get at low cost, or for free, from our families, relatives and neighbors: Health care, child care elder care, live-at-home spouses and homemakers, even talking with your neighbors and friends has been replaced with social media.

    The cost of birthing and raising a child is even commodified in the health care system.

    Is it any wonder why wealthy countries' birthrates are falling? Asides from environmental factors, like microplastics and climate change.

    The reasons why the US population is growing are related to immigration: Both directly counting immigrants, and those who still retain enough social capital in their communities to have families.

    The so called post-capitalism economy is not productivity growth and making lives better for everyone.

    It's making the production of wealth increasingly meaningless for the average person.

    It's mining social and middle class wealth into the pockets of the wealthy elite and non-human corporations.

    But what happens when the wealth in the mines is all gone?

  • I was thinking the 72 days they had that fillibuster-proof Senate majority during the Obama presidency.

    Since the Comstock Act would have been obsolete at the time, before Roe v Wade was overturned, it should have been a formality.

    ...And they were busy getting ObamaCare passed, for which I am eternally grateful...

    But... Democrats...

  • Or place the figure in context:

    120 million is about 1/3 of the population of the United States (about 350 million), or 1/4 the population of the EU (about 448 million)

    Imagine if 1/4-1/3 of the country that you reside in suddenly became refugees, and needed emergency shelter, water, food, etc.

    Of course, in the actual countries or regions where the refugees are coming from, things are even worse.

  • Yes, I did try to install it on Windows.

    Still, that really disqualifies it from being open source...

    Like "free" software requiring installation of weird browser toolbars back in the day. I still have nightmares about those things.