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Poll_Blind (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:17 PM Original message |
What about people with mortgages if we default? Won't the higher interest rates crush them? |
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FreakinDJ (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:18 PM Response to Original message |
1. think "Fixed Rate" |
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abelenkpe (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:19 PM Response to Original message |
2. For future debt |
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DearAbby (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:19 PM Response to Original message |
3. If USA defaults...not much use paying off your debts |
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jtown1123 (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:20 PM Response to Original message |
4. Good question, I am paying down a cc at 0% intro rate. Would that jump up? |
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Poll_Blind (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:39 PM Response to Reply #4 |
9. That's what I'm trying to find out. I'm under the impression that it would but.... |
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msongs (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:22 PM Response to Original message |
5. interests rates are fabricated made up numbers - they can make them anything they want really nt |
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Lone_Star_Dem (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:22 PM Response to Original message |
6. You're bound by your agreement, and so are they. |
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Poll_Blind (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:40 PM Response to Reply #6 |
10. Thank you- that was the word I was looking for: The Prime interest rate. |
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Lone_Star_Dem (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 04:06 PM Response to Reply #10 |
16. Yes, it would be the Prime Rate which would increase. |
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Blue Meany (986 posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:44 PM Response to Reply #6 |
12. And, you get to pay it in currency that is worthless... |
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Poll_Blind (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:47 PM Response to Reply #12 |
13. That would assume that wages go up accordingly because of inflation, no? |
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NutmegYankee (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 04:58 PM Response to Reply #13 |
19. If we got into a massive inflation event, wages would have to rise. |
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MedicalAdmin (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 04:23 PM Response to Reply #6 |
17. That is assuming that the "rules don't get rewritten. |
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NutmegYankee (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:26 PM Response to Original message |
7. The fixed rate loans cannot be changed. |
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dixiegrrrrl (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:37 PM Response to Original message |
8. My mortgage is fixed rate, I will pay it with inflated dollars. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:41 PM Response to Original message |
11. but people with savings accounts will appreciate getting interest on their savings |
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Poll_Blind (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:47 PM Response to Reply #11 |
15. Good point! n/t |
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lunatica (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 03:47 PM Response to Original message |
14. My opinion is that the government will have to pay more to pay back their loans |
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damntexdem (1000+ posts) Send PM | Profile | Ignore | Mon Jul-25-11 04:53 PM Response to Original message |
18. Who'll notice? We'll all be so crushed by so many things ... |
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