Economics/Class Relations

Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms

I strongly suspect that this 1918/1929 reboot will continue for quite some time. Particularly since a lot of folks haven’t exactly been social distancing lately. And while insurrections can certainly achieve positive things, immediate economic growth and restoration of consumer confidence aren’t really among.

By Chris Arnold

NPR

Americans are skipping payments on mortgages, auto loans and other bills. Normally, that could mean massive foreclosures, evictions, cars repossessions and people’s credit getting destroyed.

But much of that has been put on pause. Help from Congress and leniency from lenders have kept impending financial disaster at bay for millions of people. But that may not last for long.

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