Viewing a single comment thread. View all comments

DelahDollaBillz t1_j9tle8y wrote

Reply to comment by psychoticdream in Pimco-Owned Office Landlord Defaults on $1.7 Billion Mortgage by downboat

Who cares? They took a risk, and lost. They don't "deserve" to have guaranteed returns...

48

onlyrealcuzzo t1_j9tuvil wrote

Yeah, but the Fed has been in the business of socializing losses and guaranteeing returns for like 23 years.

So I'm skeptical that's going to change.

7

psychoticdream t1_j9tmghf wrote

Right! But this push to protect the wealthy landlords and corporations is what caused a push to return to normal and do away with covid mitigations way before it should have been ok.

The end result is a lot of sick employees and mounting losses..

Whatever..... The likely winners out of all this will probably be insurance companies

6

luckytrade313 t1_j9tp9pi wrote

pharma

2

psychoticdream t1_j9u1hqc wrote

Depends. Good gains there on that industry though. Especially the ones dealing with mrna tech because it's so fucking versatile it can be adapted to any illness (including cancer treatment which is showing some good promise so far) so we'll see flu vaccines using mrna tech and they WILL have better efficacy rates compared to traditional vaccines (traditional vaccines usually have 50-60% efficacy)

2

NeillMcAttack t1_j9towe9 wrote

I mean, yea. But, we have a kind of weird global economy, where if the business property market (which are backed with asset shares, just like the mortgage bubble in 08) was to turn into a bubble, and burst, the markets tank, people lose their jobs etc. In this economy we need property houses high, to maintain the markets and keep jobs, but also low, so people can start businesses and you know, have somewhere to live.

The system is broke as fuck quite frankly!!

6

laetus t1_j9uuhcq wrote

> people lose their jobs etc.

People losing jobs doesn't have to be a bad thing.

What's worse, having them lose jobs and then we pay them for doing nothing / coming up with doing something useful?

Or paying them and they stay in their useless job?

The problem is that society chooses to stop paying the people who lose their jobs because 'it was their own fault' or something... And then people don't want to lose jobs but they keep doing stuff that's useless or even detrimental to society.

The bad thing happens is when people lose jobs but those were useful jobs.

8

adamrch t1_j9wgs9l wrote

You seem to be too in touch with reality to ever be in a position to make any of those decisions.

2