Originally Posted by Mr Nice
I heard they have to keep pumping oil or they will loose the well ?
Either way..... the entire economy is in shambles.
...
Interesting thought on the "well"
and the economy, ahh yes, I agree more then 100%. Honestly many are living in a bubble, too ignore we are in a depression without money printing presses running day and night and massive borrowing, so massive we dont even understand all of it by the government.
Honestly? I think we have been in a recession for years (follow me on this thought), the whole economy being pumped up by the Fed and massive USA borrowing = massive USA debt that never gets paid back.
SO not technically in a recession for the last 8 years but if the government stopped borrowing and spending that extra TRILLION PLUS every year, then would we be able to say were weren't in a recession?
So Covid comes along and we double and triple the borrowing and triple the money printing ... its quite scary, For a decade now or more, the US economy keeps getting artificially inflated by the government. The day will come, I dont know when, where the country cant borrow anymore to pump it up and let it stand on its own two feet.
With that said, I go with the flow, maybe I will be long gone from this earth before the young people have to pay all this borrowing back, who knows but the day will come where the USA needs to address its debt load and as Americans just learned they need to control their immature borrowing, I find it SHOCKING that two months (and less) of a paycheck interruption, millions of American households are having trouble paying their mortgages and need government intervention in the mortgage business. Yet they all have new cars, TVs $200 internet and pay TV packages, heck they even finance washer, dryers, kitchen appliances and furniture now! My god.
I think these lessons, at least short term will teach some Americans to stop borrowing money for things they cant buy $40,000 automobiles when they have the income that should be supporting a $10,000 car.
That might send us deeper into a depression. Something will break the camels back some day.
No matter what the loan officer tells you or the credit card company tells you, if you need to borrow money to buy something, you can not afford it, that means, you are too immature to save and always go to someone else asking for a handout that you promise to payback. Remember kids like that in school??
My fear is the market is in fantasy land right now, how on earth are we even close to the DOW price of a year ago, to me, forecasting the next couple quarters I think it should be 15,000 if that.
Even though I say that, I will continue to stay fully invested because I learned not to buck the market and at the same time be defensive on what I buy.