Not great, as you might expect, but he said the ReFi and 2nd market was very robust, which makes sense.
Here is the thing: since only banks can create money from nothing, people are surviving on credit. A good friend of mine has maxed out what were paid off credit cards. People who have a house are taking a 2nd mortgage out and using it to pay bills. The very poor are borrowing money from their parents or friends.
Those without those resources are truly miserable.
But in the same sense that some people are warning of inflation, since much of the “money” flowing into the system was created from nothing, we also need to be aware of the wealth transfer happening, from the small to the large, and from the poor and average to the already rich.
This “heyday”, as the Democrats see it–their chance for power and glory, electoral victory through cheating and blaming Trump–really amounts to an engineered recession, and recessions are ALWAYS very, very, very good for people with cash. It’s Black Friday for the rich. Everything goes on sale at a steep discount.
It’s hard not to wonder if some people out there wanted this thing for that reason alone. The economy was just too good, and it had been too long since a good sale.
I will continue to insist my plan would work–not without pain in the short term, to be sure, but we are sure getting pain NOW, too, aren’t we?–and will do so until someone gives me a reason not to.
The issue with many of my ideas is that they are too original, in some respects. People don’t know how to evaluate them since they are used to using the crutches of comparison and context. They count the people on the one side, and then the other, and if it is close, THEN they start to sort of kind of think.
Few there are who can simply follow a path into the trackless wilderness, by the honest process of making one logical step, and then another, indefinitely.
If I have a particular strength, that is it. There are people out there with higher IQ’s than me, but few with my stubbornness, tenacity, and capacity for being alone and different.