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Do you think we are headed into another Depression?
I think it is coming
they said we have been in a recession for 1 year, big factor is unemployment rate but don't hear too much of this other factor right now many workers out there are finding there wages getting slashed, position realigned and reclassified to PT. There has not been a real gage of this. I have talked to many folk going through some of the scenarios above.
Three years ago some mortgage broker came and talked to me about a cash out refinance. He identified i had 120k in equity on my house, hence i bough my home in 2002 and it grew 120k in 3 years. At that time I notice many neighbors getting nice pools, buying big screens, taking inclusive vacation, buying boats nice cars all the goodies. I was like how I know they don't have jobs to support that.
Well now fore closers are sky high in my neighborhood.
this is one reason why! we are screwed.
YES we are headed for the 2nd Great Republican depression , the same rules and regulations that repubs came up with in the 1920s that led to the 1st Great repud depression have been puit back in place the past 28 yrs since reagan ,
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