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Nw Iowa | If anything like agriculture in 80’s or housing bubble in 07, it doesn’t correct as fast as you think it should, and than when it corrects, it happens much faster than you think it will. I posted about goverment borrowing money to pay interest and how this is going to expedite government problems and post was taken down ( why) but we are entering some real interesting times. I read a couple of years ago that goverment could not sustain borrowing at 4% interest rates and here we are? I also think social media has put some extreme pressures on families to have certain things which just makes problem worse. Historically housing costs can only be a certain percentage of your take home pay ( less than what mortgage companies allow) and pay all your bills.
The other issue is that US is best shape but we are compared to a world that is in worst shape. Globalization is great but not like it used to be with strong and weak, now everybody gets drug down to same level ( speaking of historically strong countries, not third world countries) and nobody to stop ball from rolling down hill.
And finally I remember my grandfather talking about the depression in the 70’s and we all thought that would never happen again. A few years later we were right in the middle of the farm crisis. This is not a gloom and doom post but every time I hear words that this time is different, a warning small bell goes off in my head. A airplane will fly on no fuel for awhile, sometimes longer than you think.
Edit one other thing to watch is student debt repayments begin again on Oct 1. I have read some articles that this is a pretty big deal.
Edited by jdironman 9/28/2023 15:08
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Just an fyi
