With many businesses shut down and many people idled there will soon be defaults on mortgages and loans. Shit has not hit the fans for the banks yet, but it will.
There are several strategies you can use on this matter. Cash out at the first signs of weakness, hopefully you make a few bucks between now and then and you may not lose anything if you are quick or lose much less than you gain in the time between now and cash out time. You can cash out 50 - 75% now and let the rest ride. Ithink you will see plenty of signs when things start to happen.You could be right. I made a good chunk of money on banks in the last few weeks and I am contemplating cashing out. This is far from over.
There is no doubt they will survive, just as they survived many previous financial crisis. What shape will the bank be in after the crisis. How will they look as an investment in one year?US banks might be fine.
The fed bought like 95% of junk bonds (something to that effect). Even if debts go default, banks will survive.
When there are no buyers for inflated homes the prices will drop. People would have lost their businesses, the stress of the crisis may cause divorces. Some will have to sell Will the bubble in housing cost in the GTA and Vancouver burst?the mortgage pauses will be extended. No reason to default people as there is really no one to buy the overpriced homes anyway.
The world financial system would have collapsed in the 2007 - 2009 Great Recession without massive government intervention.Banks in trouble? What? How? The banks always do well. I'm asking, not arguing, because I'm not a financial person by any means, so when I see "banks are in trouble", I don't understand it.
The govt will buy out a bunch fo mortgages to inject liquidity.
https://www.cmhc-schl.gc.ca/en/medi...ntinued-lending-canadian-consumers-businessesGovernment will bail them out no problem.
It’s always the average working guy that really feels it not banks or GM or Ford, or even the major airlines.
They will be the first with their hands out and first to have them filled by our tax money.
the problem will be for the millions of folks that will suffer if a single bank goes under.why not just reset to zero dont bail banks.Its the taxpayers money going to banks.Lets just hit the reset like we do in the cars odometer for distance travelled.The lizards that own banks dont need more money. There may be a handfull of super wealthy that control.There are 30 million of us, I say we dont pay and we stay put .In a nice easy way FUKUM.