One of the things that many people go through their entire lives without ever realizing is that conditions haven’t always been the way they remember them to be. Due to the length of a typical lifetime and the number of those years that individuals are productive, it’s reasonable to think that someone in their mid-60s could retire today and look back at the last 40 years only to conclude that what they just experienced was normal.
But, what if the last 40 years were anything but normal?
What if, in the world of finance and economics, it was all just a big bubble?
That hits me close to home. Their is no way I should be living the kind of lifestyle that I have been living. Never graduating high school, no college and living the way I am their is no doubt something is out of whack. Among my friends I am oddity because the only debt I have is my house, but most of my friends are neck high trying to keep up with the neighbors. I am only 35 years old but the fact that I can see that their is a bubble makes me appreciate my easy life that much more. I am not looking forward to the future. Thanks for posting the article. Sammy
This perfectly highlights a point I have tried several times to make to those in investing: this is the first time in history that the entire global economy has been tied to a fiat currency.
My investment banker friend,: First time in history?? Are you nuts? It has been that way for 30 years!"
Me: "Since I am over 30 I assumed history was longer than 30 years......"
People think that "it has been like this for 20 years" is an adequate testimony to an economic condition's validity and stability. They are wrong.
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