I am very fortunate that I do not live like most Americans.No. And that’s the point. The economic numbers don’t reflect the lifestyle of most Americans. They represent the whims of the “job creators”. Why? When does Main Street catch up to Wall Street? Hell, when does Main Street recoup its lost buying power that 8% inflation brought about? Did anyone’s income jump when prices jumped?
There is no answer under current structure. Heard Trump saying he was going to do away with the payroll tax. Of course the executive branch has no power to do that. And if he did and the market was flooded with more cash, what would happen? A huge stimulus that does what? Drives inflation yet again and supercharges the national debt. How do we know? Because we just did that.
So yeah. The economy is due for and probably needs a crash. Unfortunately whatever administration is in power will probably ride to the rescue again and the economic powerhouses will pat themselves on the back.
0% interest on $30k cars was great back in the day. On $90k pickups the general public can’t even begin to afford to be interested. In a consumer driven economy without consumers…
I do my best to stay out of debt and put a little extra money away for retirement and for my personal savings account.
Unfortunately the good portion of the population cannot afford to do that