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Originally Posted by Cash Bar
(Post 4850107)
The one that made me LOL was the Deep Impact 369 CC STARTING at $620k. LMFAO
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It wasnt just the PPP loans. It’s the wealth effect. People saw there 401k, IRA’s, home values, and portfolios sky rocketing.
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Oh I know, I was just having fun with a fellow Indianapolis guy. Hell I know some friends that got PPP for "Clubs" they had incorporated.
As for the feds keeping rates low, yes they did that for far to long. But a lot of large banks, investment firms etc sure liked it didn't they? I assume you will have a much better viewpoint of the investment firms considering your lively hood. https://cimg0.ibsrv.net/gimg/www.off...a1331cad22.jpg https://www.thebalancemoney.com/fed-...s-lows-3306135
Originally Posted by Marginmn
(Post 4850190)
There were literally $Trillions in stimulus thrown at Covid. Just - and I mean just - PPP alone gave away nearly $1 Trillion. I know a guy who's business was going gangbusters during Covid and his company still got $1.9 Million in PPP relief loans, all forgiven = free money in his pocket. Another friend nearly $500k. All forgiven. That on top of the roaring Fed-induced Bull market in stocks because of the Fed's near-zero interest rates.
Here's a list of PPP grants. The awards start out at $10 Million and go down from there. The PPP program was SUPPOSED to just help just small business. The list is 177,880 pages long. Not 177,880 awards - 177,880 PAGES OF AWARDS. Covid 19 created the biggest money giveaway in the history of mankind thanks to our government. Search Latest PPP Loan List (ppp-loan.info) Try as they might the Fed still cannot get unemployment to tick up. Too many peeps flush with Gov cash who have no need or desire to work. |
Originally Posted by Wildman_grafix
(Post 4850210)
Oh I know, I was just having fun with a fellow Indianapolis guy. Hell I know some friends that got PPP for "Clubs" they had incorporated.
As for the feds keeping rates low, yes they did that for far to long. But a lot of large banks, investment firms etc sure liked it didn't they? I assume you will have a much better viewpoint of the investment firms considering your lively hood. https://cimg0.ibsrv.net/gimg/www.off...a1331cad22.jpg https://www.thebalancemoney.com/fed-...s-lows-3306135 |
Originally Posted by 1MOSES1
(Post 4850110)
Not sure I would use a boat show as a metric for measuring a recession…99% is curiousity vs. serious buyers. Just my opinion.
Back then they had to treat everybody at the show like they were a buyer, with the bank financing it was possible for a lot of buyers to be in the market for a 2-3mm yacht. Today I'd think with a shrinking buying pool, they would still have to kiss azz at the dock just in case the guy in the Hawaiian shirt and cargo shorts might be a buyer too! |
That does it, I’m listing the Marlago 😂
For real though |
People were buying build slots to resell later at a profit.
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Originally Posted by Interceptor
(Post 4850251)
People were buying build slots to resell later at a profit.
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Originally Posted by 302Sport
(Post 4850255)
When those people sense the market turning and back out, all of a sudden 3 year backlogs for new builds become “we can get you into a new boat in a couple months” pretty quickly.
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I fly private jets. I can say that at least one one flight last year, 8 out of the 12 people got PPP loans. How do I know, because when I googled their names, it was the first result. People like "PPP loan recipient of $28,684....Hostes at Outback." At least they blew their PPP loan money quickly.
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