Posted on 11/16/2022 8:27:15 AM PST by EBH
And some European govts pulled that a few years back, then started in with their negative interest haircuts.
then they could rent or travel for the rest of their lives on the interest.
Okay.
It was a bonus check that really woke my wife up to the sins of government and she was semi-liberal to the point.
I had a large bonus payout, that I told my wife I would be receiving. Of course, the amount deposited I to the account was much less that the number I told her. It was a real turning point for her.
I got a $96K EIDL loan during COVID. It was used to pay our rent, utilities, equipment payments, etc., during the shutdown. Here in NM we were shutdown for an extended period of time. The money was used. I will be paying $440 a month for the next 30 years. Yay.
We are part of some government programs that assist small businesses. It seems that, because we received this loan, we no long qualify for the assistance we were getting previously.
In summary...
The government overreacts to a “crisis” and nearly bankrupts my business. Their “help” is a loan I will be paying back for 30 years.
Because I was forced to take a loan I didn’t want, I am now no longer qualified to received assistance that would enable me to better payback that loan.
Genius.
That’s the uncrossable line in the sand.
I am sorry you got sucked into the EIDL loan. I read those terms at the time and walked away from it. Now with a recession/depression looming in front of us I cannot even fathom the stress you are feeling.
No worries it’s transitory.
Wow. Just, wow.
Time to put all those lies back in the drawer...till the next election.
It would cheaper for me to borrow money than take it out of my 401k.
a careful read of this BS article shows that its entire premise rests on “suggesting that” ....
At the time it was the loan or bankruptcy. 3.5% interest over 20 years for a business loan isn't horrible, but the fact that we were forced into it by government mismanagement rankles. Forgive student debt? Not until you forgive the EIDL loans...
My biggest takeaway from this comes from the headline.
Why would the Fed have or want information on private citizens’ wealth?
5% 48 mo available at local credit union.
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