Posted on 04/20/2024 7:23:26 AM PDT by PJ-Comix
And most of us will continue to fund the media and its messaging with our TV subscriptions.
> The country increasingly has a 1970s vibe
I’ll believe that when Ford releases a revamped version of the Pinto.
Must bump for reference. Awesome analysis.
The 1970s were the golden years compared to now.
I haven’t looked at my portfolio for awhile. I saw this thread and thought I’d take a look. April is zero growth. The reason is Exxon and a few others gained. But some of the stocks went down. But luckily I didn’t lose any. I’m up about 8 percent for 2024. Not great like last year but not losing.
That pony escaped the corral long ago.
When a country can’t pay its debts, it usually deliberately goes to war. I think that is where our nation is at right now. War with other countries or war between its own people, it doesn’t matter, as long as it is a war.
In the Orlando area in the 1970s, there were hotels and apartments on which construction suddenly stopped due to bank failures, leaving raw concrete structures that went unfinished for years. We have not seen that sort of thing yet, but we may.
In the late 2000s, there was a lot of construction going on and a lot of it stopped suddenly due to the subprime mortgage fiasco.
Worth a watch. Thanks for posting.
This time, there will be more in the way of commercial real estate foreclosures and bankruptcies than construction stoppages. Innovations in bankruptcy law will limit the potential for property to go idle.
Accross Moores Mill Road from me, a 450 acre cotton field is all graded out, street & drainage structures in place with several dozen houses completed and more under construction.
Maybe these developers get caught holding the bag...we will have to see.
Exception to the rule. Florida. Austin, TX, etc.
But we have not been building that much in the U.S. compared to early to mid 2000's.
Yup. Commercial activity contracts in a recession, so less space is needed.
Compare that to our crumbling infrastructure now. The difference is in the 70s, we still had a tax base to pay for fixing it with.
Any move to digital currency will bring on "social scores" which means that unless you toe the government line, you may have your access to that "money" suspended until you become a good doobie.
The only positive thing I can say is that these doomsday predictions of economic collapse have been made since I was a kid in the 1970s. I guess eventually the doomsters will be proven correct but then we'll be in the same boat together.
Infrastructure financing in the 70s was also difficult because of the high interest rates. I get your point though, that the unprecedented levels of federal debt today are beginning to damage state and local borrowing capacity in new ways.
I should have added one more comment.
I believe that a little bit of all is the best bet.
Plus som items not mentioned in the event that barter will be required.
Just be careful about getting too many eggs in one basket.
If you can adequately build a shelter, sew up a wound, butcher an animal, or grow a crop of produce, you will find yourself very much in demand.
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