The time is coming for a correction, and it won't be pretty.
Government unions have a long-standing incestuous relationship with the Democratic Party. In return for massive campaign contributions and foot soldiers for political campaigns, elected Democrats not only reward their union benefactors with favorable contracts, they shield them from the kind of accountability that private sector employees face. That’s one reason our schools are failing. It’s why cities and states with entrenched Democratic leaders are bankrupt. It’s why governments ballooned while millions of private sector employees lost their jobs and even their homes.
It's nearly here. All it should take is another 10% increase in food prices. Loan servicers have been kicking the can down the road for the past year, modifying home mortgages down to 2% and extending terms out to 40 years to keep homeowners in their houses.
The problem is not with home mortgages, but with all of the other debt consumers have in great abundance, and those lenders aren't giving an inch, even though they're owned by the same big banks that received taxpayer bailouts.
The average American is exhausted by the events of the past few years, and increasing food prices will be the straw that finally breaks the camel's back.
When Atlas groans and gives his final shrug, it will not be pretty.