How will this govt. solution to the ‘financial crisis’ affect us as consumers?
I’ve been watching the news on this financial crisis we’re in. And they keep talking about where the money will be coming from, and how banks keep loaning money to people who don’t have it to pay it back. Their idea of fixing it is for the government to reimburse the banks? How will this affect me and my debt? Will it work to my advantage? Or will it only work to the advantage of my creditors? etc.
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It works to your advantage, but not by much. Assuming you have a 401k, your investments will be propped up rather than failing. It will help your banks, the banks are out of money. It deflates the dollar which increases inflation. BUT it prevents or postpones a deep recession or even a depression, which probably protects your job.