3volver@lemmy.world to No Stupid Questions@lemmy.world · 9 months agoWhat would happen if the US didn't bail out the banks again like in 2008?message-squaremessage-square19fedilinkarrow-up173arrow-down14
arrow-up169arrow-down1message-squareWhat would happen if the US didn't bail out the banks again like in 2008?3volver@lemmy.world to No Stupid Questions@lemmy.world · 9 months agomessage-square19fedilink
minus-squarepearsaltchocolatebarlinkfedilinkarrow-up14·9 months agoIt would screw over people who don’t use banks as well.
minus-squareSnot Flickerman@lemmy.blahaj.zonelinkfedilinkEnglisharrow-up15·9 months agoYeah grocery stores run on pencil-thin margins, and many of them rely on lines of credit to get through their day-to-day. Banks in this scenario would suddenly be unable to fulfill credit lines and now a grocery store is left unable to purchase goods to fill their store. It hurts anyone who eats fucking food which is all of us.
minus-squareBlue_Morpho@lemmy.worldlinkfedilinkarrow-up1·9 months agoLines of credit are usually private net 30/60 agreements with suppliers, not through a bank. If a grocery store is operating under debt, it needs only raise prices to cover the difference. Not paying interest to banks would become a cost savings.
It would screw over people who don’t use banks as well.
Yeah grocery stores run on pencil-thin margins, and many of them rely on lines of credit to get through their day-to-day.
Banks in this scenario would suddenly be unable to fulfill credit lines and now a grocery store is left unable to purchase goods to fill their store.
It hurts anyone who eats fucking food which is all of us.
Lines of credit are usually private net 30/60 agreements with suppliers, not through a bank.
If a grocery store is operating under debt, it needs only raise prices to cover the difference. Not paying interest to banks would become a cost savings.