Hyperinflation and BK7

[billf]

It may be a 1 in a 1,000 but what if you file Chapter 7, house is exempt with state exemptions and homestead, then between filing and getting the list of exempt property from the trustee, hyperinflation hits (and when it hits it can happen really fast because the currency market collapses)!

So your $500,000 exempt house is now worth $5,000,000

I know, crazy question. But it doesn't even have to be hyperinflation. Could just be trustee getting his own appraisal because the real estate market turns around as everyone tries to exit the bond market

[AngelinaCatHub]

It may be a 1 in a 1,000 but what if you file Chapter 7, house is exempt with state exemptions and homestead, then between filing and getting the list of exempt property from the trustee, hyperinflation hits (and when it hits it can happen really fast because the currency market collapses)!

So your $500,000 exempt house is now worth $5,000,000

I know, crazy question. But it doesn't even have to be hyperinflation. Could just be trustee getting his own appraisal because the real estate market turns around as everyone tries to exit the bond market

No. Won't happen as if it were to hyperinflate, your Mortgage note is X amount and if X amount will only buy a loaf of bread, pay your mortgage off with X amount. See Weirmar Republic, Germany, 1923. 'Hub

[billf]

No. Won't happen as if it were to hyperinflate, your Mortgage note is X amount and if X amount will only buy a loaf of bread, pay your mortgage off with X amount. See Weirmar Republic, Germany, 1923. 'Hub

Oh sure I know about Weimar et al - but surely that will be the Trustee who pays off the mortgage with a loaf of bread, after he's taken it as non-exempt because the dollar value shot up.

[banca rotta]

This is a moot point. The trustee and bk courts would be out of business if we were hit with a storm of hyperinflation.

Hyperinflation is very good for those in a lot of debt. If someone owed a half million dollars they would be able to pay it off in a few weeks.

The downside of this would be the savers would be big losers and good luck buying food.

The bkforum would be "the happy place". Those with debt would be winners and the "smart people" that saved their money would be the ones crying.

[AngelinaCatHub]

This is a moot point. The trustee and bk courts would be out of business if we were hit with a storm of hyperinflation.

Hyperinflation is very good for those in a lot of debt. If someone owed a half million dollars they would be able to pay it off in a few weeks.

The downside of this would be the savers would be big losers and good luck buying food.

The bkforum would be "the happy place". Those with debt would be winners and the "smart people" that saved their money would be the ones crying.

Yes, and for the Grace of God, our retirement was in an annuity that cannot lose value. However, it's value is on the books to see by the stock market and of half a mil, only half is left. We still only get a payout per percentage, but it cannot go down.

That being said, I am in fear of the devaluation of printed script with no 'intrinsic' value. I do see real trouble ahead, but, what the hey, 'Bammy owns the printing press and soon will own the World Bank. 'Hub

P.S. Only my opinion.

[banca rotta]

Right now cash is king because we still have a lot of deflation, high unemployment, high underemployment, disinflation such as merchants, restaurants cutting their prices and gas came down.

There are so many homes upsidedown and forclosures are not letting up regardless of the dow jones industrial average.

I give it a few years and this trend will reverse and hit us like a ton of bricks.

The only thing to stop it is people keep saving and a small chance the fed will increase interest rates. Just a small chance though.

If people go back to a few years ago and spend themselves silly since most people have short memories and the govt just keeps printing and spending then it's all over. The middle class will be completely wiped off the globe and the poor which will be about 99% will dive in the 1% rich folks dumpsters for food. I can only hope it doesn't come to this but Obama and Bernanke aren't giving us much hope, something obama promised us.

[AngelinaCatHub]

Right now cash is king because we still have a lot of deflation, high unemployment, high underemployment, disinflation such as merchants, restaurants cutting their prices and gas came down.

There are so many homes upsidedown and forclosures are not letting up regardless of the dow jones industrial average.

I give it a few years and this trend will reverse and hit us like a ton of bricks.

The only thing to stop it is people keep saving and a small chance the fed will increase interest rates. Just a small chance though.

If people go back to a few years ago and spend themselves silly since most people have short memories and the govt just keeps printing and spending then it's all over. The middle class will be completely wiped off the globe and the poor which will be about 99% will dive in the 1% rich folks dumpsters for food. I can only hope it doesn't come to this but Obama and Bernanke aren't giving us much hope, something obama promised us.

Right on. This is orchestrated and they are playing us for fools. Obama money being advertise, but guess what folks, HE LIES.

I never thought anything could be worse than the Clinton's. OH NO, how I was wrong.

Anyone with a working home budget (as we all should be doing now) knows you can't write a check for no money in the bank and get away with it. Well anyone but the govmint. 'Hub