• 3 Posts
  • 315 Comments
Joined 3 years ago
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Cake day: June 21st, 2023

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  • Not necessarily. There is no guarantee that the house will well for enough. Normally this works fine, but sometimes a loan can be underwater, and have a larger balance than the house is worth; or it could not have enough equity to cover the cost of foreclosure and flipping. This is why the US requires mortgage insurance for mortgages with less than 20% equity.

    You could imagine a scenerio where banks find a loophole to skirt the PMI requirements causing a real estate bubble to drive up the purchase price of houses. Them a recession causes widespread defaults, further triggering a collapse of home prices, forcing financial institutions to be unable to recoup the cost of loans. Loans which, incidentally, were rated as very unlikely to default due to other financial schenenagans. We call this scenerio 2008





  • It’s not a particularly satisfying answer, but contagious diseases jumping to humans and causing small outbreaks is not a particularly uncommon event. Most of the time, those outbreaks die out without becoming a large scale pandemic. This is due to both nature, and significant investments in global contagious disease response infrastructure.

    Saying a given outbreak is probably not going to be as bad as covid is probably correct, because most aren’t.


    I should also mention that the public health infrastructure that normally prevents epidemics has been significantly weakened over the past few years. This does tilt the table towards pandemic.


  • I did not get through the entire opinion, but don’t think it says what you think it says.

    The question presented is whether the President, acting through the Secretary of State, has authority to revoke a passport on the ground that the holder’s activities in foreign countries are causing or are likely to cause serious damage to the national security or foreign policy of the United States.

    The court was not asked to consider weather passports could be revoked on other grounds.



  • US here. I’ve only ever seen bi-weekly and twice-monthly.

    Overtime is a given (legally required) for hourly work; however there are a lot of shenanigans employers do around timecards that does not get nearly as much enforcement as it should.

    It also typically takes about a month from when you start working to when you get your first paycheck. Paychecks normally come between 1 and 2 weeks after the pay period ends; and your first pay check tends to be extra delayed. Having said that, the one time this was a problem for me, I was able to walk into the HR office and get a hand written check on the spot (no clue how common that is).