Nebu I share your thoughts too. I posted a year ago how 80% of all new vehicle loans then were made by secondary (legalized loan sharks) market Lenders then, and that was BEFORE the 3 rate hikes we have now seen. Banks were NOT even doing mortgages as they could/should have- They were all about "doc/app fees" and still are today... All loans will be hit, and we are going back to late 70's rates it seems- BUT, nobody talking that back then, we still had a US that was 80% middle class, blue collar manufacturing & industry jobs (people willing to work hard in them) which paid REAL living wages and people could work and dig out of high % debts then. Today, we DO NOT have that scenario, and nobody making this point!
Technology is NOT going to do this, as it costs you 24/7 to use/have it...
PLUS add burden of massive population increases in last 40 years, and huge utility increases since due to increased power consumption/food burdens too. It is a VERY serious fact nobody talking about...
Hey, in 1980, I was able to have CD's with 12% rate...
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