Good article. I will disagree with one point. Student load defalut would be different then either auto or mortgage default. In Student loan default there is nothing to seize to try and pay the loan and the loans are backed by the US Gov which would simply bail out Fannie Mae.
The result might be inflationary rather than the deflationary impact of large scale defaults on cars or homes.
There's another problem with the supply chain. Much higher rates of mortality and disability after Covid "vaccination" are reducing the work force. With less people to do the work, we can also expect this trend to continue with greater impact as more people contract diseases because of dysregulated immune systems.
Living frugally is the ONLY way I know. Now my energy bill (gas & electric) was $94.99 last month--this month $350. My income qualifies me for energy assistance, but with many retired people in the same boat I'll doubt I'll get it. Where else can cut expenses????
Thank you very much. Great points all, imho. I'll add two:
1) As I share with clients (I work with entrepremeurs), all solutions are local. There is no national savior. As our ancestors learned when resisting King George's tyranny, it's up to us, and our great power derives from our ability to connect with each other locally (online too can be "local" these days) for emotional support and shared info re best resources for water, food, financial sustainability, and self-defense. As we grow and attract other groups, our ability to thrive just grows.
2) We should never forget, and never be held back by, the fact that we cannot control the outcome. Our stunningly incompetent political class has given America's enemies a large head start. So despite our best efforts, it's entirely possible that this thing could crash before it re-learns how to fly. Which just means we'll realign our efforts to create order out of that chaos, and rebuild from the ashes. Our amazing one-of-a-kind Bill of Rights, and our Capitalist entrpreneurial ability, will always be our foundations.
Good article. I will disagree with one point. Student load defalut would be different then either auto or mortgage default. In Student loan default there is nothing to seize to try and pay the loan and the loans are backed by the US Gov which would simply bail out Fannie Mae.
The result might be inflationary rather than the deflationary impact of large scale defaults on cars or homes.
There's another problem with the supply chain. Much higher rates of mortality and disability after Covid "vaccination" are reducing the work force. With less people to do the work, we can also expect this trend to continue with greater impact as more people contract diseases because of dysregulated immune systems.
Living frugally is the ONLY way I know. Now my energy bill (gas & electric) was $94.99 last month--this month $350. My income qualifies me for energy assistance, but with many retired people in the same boat I'll doubt I'll get it. Where else can cut expenses????
Thank you very much. Great points all, imho. I'll add two:
1) As I share with clients (I work with entrepremeurs), all solutions are local. There is no national savior. As our ancestors learned when resisting King George's tyranny, it's up to us, and our great power derives from our ability to connect with each other locally (online too can be "local" these days) for emotional support and shared info re best resources for water, food, financial sustainability, and self-defense. As we grow and attract other groups, our ability to thrive just grows.
2) We should never forget, and never be held back by, the fact that we cannot control the outcome. Our stunningly incompetent political class has given America's enemies a large head start. So despite our best efforts, it's entirely possible that this thing could crash before it re-learns how to fly. Which just means we'll realign our efforts to create order out of that chaos, and rebuild from the ashes. Our amazing one-of-a-kind Bill of Rights, and our Capitalist entrpreneurial ability, will always be our foundations.
Reminding us of our collective resilience is a great move.
More people will work under the table and collect government handouts, like illegal aliens do.
Shoplifting at store self checkouts is growing too. People will adapt, they always do.