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Started By
Message
re: What is holding this economy together, I don't get it?
Posted on 9/26/23 at 7:45 am to doubleb
Posted on 9/26/23 at 7:45 am to doubleb
quote:
The Feds pumped trillions into the economy. There is still a lot of money out there.
Is it though? Generally speaking, there is a 6-month lag on the velocity of money. I would argue the lion's share of those trillions are now parked in 5% savings accounts, 5.5% CD's etc and those vehicles aren't backing out of the proverbial driveway anytime soon.
0
Posted on 9/26/23 at 9:33 pm to Tesla
quote:
Great points. What we don’t know is what we don’t know. Does China’s economy collapse first? Does the Indian subcontinent become the new hub of power as Russia implodes? Does the EU go completely broke? These type of black swan events will greatly impact the depths of the financial crises and the speed at which they arrive.
Excellent points. Another issue for us to consider is do any of these things (or others) negatively impact the USD being the primary world reserve currency? If so, that just adds another heaping helping of crap to our crap-sandwich.
Posted on 9/26/23 at 9:39 pm to burger bearcat
A lot of people cash out refi'd over the years. I see it everyday. New truck, golf cart to kick around the neighborhood and a 3k house payment or more.
Lots of poor money managers out there, but to a lot of them, they work hard, so they spend a lot too.
I live in a middle to upper middle class area and there is definitely a keeping up with the Jones' vibe. Particularly with the stepford wives.
Lots of poor money managers out there, but to a lot of them, they work hard, so they spend a lot too.
I live in a middle to upper middle class area and there is definitely a keeping up with the Jones' vibe. Particularly with the stepford wives.
Posted on 9/26/23 at 9:51 pm to burger bearcat
Housing is abysmal. I know people who work 7 days, 65+ hrs a week...and still can't afford to rent a place in a livable area. There're some apartments that have some studio apartments for around $1k/month, but they are in the heart of the worst, most dangerous areas that are infested with gangs.
Posted on 9/26/23 at 9:58 pm to Plx1776
quote:
Housing is abysmal. I know people who work 7 days, 65+ hrs a week...and still can't afford to rent a place in a livable area
Out of curiosity - where is this?
Posted on 9/27/23 at 7:03 am to burger bearcat
quote:
Expensive vacations,
well it is hard to confiscate a vacation -
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