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Monday, September 20, 2021 8:07:54 PM
Invest, I moved to Florida in the summer of 1978 and I still remember one day in October of 1981 driving into work (a scenic drive on Riverside Dr along the InterCoastal Waterway) hearing on the radio the announcement that our debt had hit 1 trillion dollars.
Over the years since then (being in retail and conversing with many customers and friends) most of us thought that this explosion in debt would be calamitous. But to use slightly different words than you, "the sheet has not hit the fan" - yet.
I often wonder if the powers that be have been able to stave off the chickens by simply inflating it away.
I know that there are some special circumstances and reasons for the jump in housing prices the last year or so, but even before this, housing seemed crazy expensive. In 1977 they were auctioning off condos on the ocean in Florida for $17K. But I guess I look at it as the Dollar being worth so much less.
There is nothing behind the Dollar. The Fed just prints the stuff out of thin air. Actually all they do is an electronic book entry. At my age I am guessing that I get out of here before it all blows up, but when I look into a young child's face, I fear for what they may have to go through.
Over the years since then (being in retail and conversing with many customers and friends) most of us thought that this explosion in debt would be calamitous. But to use slightly different words than you, "the sheet has not hit the fan" - yet.
I often wonder if the powers that be have been able to stave off the chickens by simply inflating it away.
I know that there are some special circumstances and reasons for the jump in housing prices the last year or so, but even before this, housing seemed crazy expensive. In 1977 they were auctioning off condos on the ocean in Florida for $17K. But I guess I look at it as the Dollar being worth so much less.
There is nothing behind the Dollar. The Fed just prints the stuff out of thin air. Actually all they do is an electronic book entry. At my age I am guessing that I get out of here before it all blows up, but when I look into a young child's face, I fear for what they may have to go through.
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