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Markets are cyclical. We are due for a recession. The only question in my mind is whether it will be before or after the election.
I’m starting to see lots of financial arrogance in the people I deal with everyday. Spending and acting like they’ll never see hard times again. That’s the biggest indicator to me. Over-confidence in something has always preceded a down turn in that something. I offer house flipping as the great boomer retirement plan of the mid 2000’s as an example.
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Yep.
My grandparents lived thru the depression,and passed a lot down to my parents and then me.
My grandmother was the only one in the family that ever bought a new car,and that was in 1986 with just the interest off her CD's. Lived frugally,and left everything to the Church when she died.
I know many people that live paycheck to paycheck and don't put anything aside for emergencies.
'Course people like that are great for the economy-people like me that save and only buy stuff they can afford,not so much.Luckily for the PTB,I'm a tiny minority.......