2009 was bad but this time around it won’t just be mortgages—EVERYTHING is overleveraged. Consumer loans including credit cards, mortgages, car loans, small business loans, corporate loans, private credit instruments.
When interest rates were low, that worked fine. Decent returns for low volatility.
But now inflation is still not at target and higher interest rates are the only thing keeping inflation from coming back with a vengeance.
that means debt is expensive AF.
And when debt is expensive? Defaults start happening. A trickle at first. But a tsunami when things hit an inflection point.
My guess is tail end or 2024/start of 2025 when shit is about to go even more haywire than it currently is.
Organize your communities. Talk to your people, and if your representatives don’t represent you, it’s time to find someone in your community who will.
DO NOT let anyone turn this into a debate about “politics” or who in govt is right or wrong. This is not what matters.
What matters is that money in politics has fueled this entire mess, not to mention the Supreme Court making being homeless illegal lmaoooo we can’t just sit here and take it
Here’s the information about the reality of the state of the economy—now do something with it, all of us.