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As long as they have electricity they will print the no value money which is inflation.
I have seen sold in our working class neighbor hood what were $130,000 to $140,000 homws sell for $230,000 plus,these are tract homes 68 X 150 foot lot with a 900 sq ft 50's home.
I am retired and had to move here in 2015,paid $114,900 for this type house which had been upgraded.There is pain forth coming for these buyers.
Something that I'm confused about here, and I'm going to try not to get too political:- the previous administration actively pressured the fed to keep the money printer running to maintain lower rates so that the stock market would keep going up up. Now we're seeing the inevitable result of that, turbo charged by the supply/demand issues associated with restarting the economy (lots of saved money to spend, but a LOT of goods/services are scarce now). Do the same people who had no problem with the Fed keeping rates low, now have a problem with them continuing to do that?
All the Fed had to do back in 2001 is to gradually start to raise interest rates and we would
NEVER experience the housing bubble 1, real estate and market crash in 2008, housing bubble 2.0 now and inflated markets with stolen taxpayer money from the future. Inequality in America would never be at this level, homeless population would never explode and be like today. Our national currency would be STRONG and our debt level would be minimal.
It is indeed a dire prediction. I wonder what the other financial institutions will forecast.
Stay tuned.
If there is a Unanimous prediction of doom and gloom from many of the independent economists, it may cause the fed to reevaluate their policies.
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