Quote:
Originally Posted by Altavia
|
Seriously, did you even read the article?
1. Why do people keep spending money if the economy is so terrible? We are spending money like crazy. That has to be a good thing, right? But wait:
2. Total credit card debt going over a round number like $1 trillion is scary. Uh oh. But let's not forget inflation is up 20 percent since 2020 so spending isn't as bad as it seems. Author just skims over the "inflation is up 20 percent" in 3 years like that is not a big deal in and of itself.
3. Young people in the first-time homebuyer stage of life have it worst of all, but don't worry,
4. Baby boomers will start dying off in 2030 freeing up home inventory. What? Like all of sudden despite inflation and record household debt Gen Zers will magically be able to afford new homes after the boomers leave the scene? Right.The article in Quoting The Atlantic says it is going to be a long time until houses are affordable again but the author is optimistic things will eventually get better. How quaint. I'll go a step further and say things will eventually get better, then worse, then better..... Hey it will rain, and then stop, then rain again.
5. Are economic sentiment gauges broken forever?Author tries to make a point that the economy is going strong despite how people feel about it. It's our fault for feeling like we do. I just look up at the previous points raised that household debt (and public debt) is higher than it has ever been, that inflation is up 20 percent over the last three years, and that young people (and many older people) can't afford to buy a house and likely won't for a long time and I have to wonder how you saw anything positive in this article? Still, I can't fault a person who sees a silver lining in a very dark cloud. Maybe we all need that perspective.