Impeachment, elections, Donkeys or Elephants, will it really matter? When will all this debt overwhelm us?
Discussing a real estate boom in Steamboat springs, CO during the early 1970’s with my late father gave me some food for thought that has never faded. He explained mortgages were being exchanged but no “hard dollars” were involved. He said, and he was proven correct, there would be a collapse.
Old NFO’s blog, Nobody Asked Me , https://oldnfo.org/ has some interesting side bars. One I read today in particular struck a nerve, https://accordingtohoyt.com/ where she talks about aging and shrinking populations and the financial positions of our younger people.
Another blogger, http://www.kimdutoit.com/2019/12/02/it-aint-that/ had an observation I find relevant.
My opinion is that young people aren’t interested in cars for two reasons:
· They all look the same. (I’ve ranted and raved about this situation so many times, I’m starting to bore myself.)
· New cars cost too much, and youngins don’t have the cash to buy them — hence the popularity of the “no-car” ownership and Uber.
Looking at the financial situation of younger people, I don’t see a bright future for them.
Under President Trump the economy has taken off, jobs have been created, and capital investments are being made. At the same time, debt has soared. So the question I ask myself is where the “hard dollars” are and who has them?
Please understand after the eight retched Lightbringer years, our situation is far better, IMO. Is it sustainable?
As a private citizen, President Trump has a long string of bankrupt business endeavors. Will he bankrupt the country? Who will get shafted? Does he have that mindset as President?
In my thirties I was hustled hard to buy Icelandic bonds that were paying 13% interest. The country defaulted, but still functions as a country. I declined the opportunity, yeah me, while at the same time I worked with a man whose father was the stockbroker for the first issue of Microsoft on the Spokane Stock Exchange. I declined that opportunity, boo me!
As a country we have defaulted, under the Lightbringer, so there is a precedent. I don’t claim to understand all of this but try to get some glimmer of what is coming. More boom, or a big bust?
The bright side is, Shillary wasn’t elected, or we would already have answers to some of my questions.