Telling y’all...my spidey senses been going off... 90% of the run up in stock market since 17 has been mostly due to everyone realizing that trumps policies will be bending over to Wall Street and large corps. Most of that money ends up in pockets of largest shareholders. It feels like bitcoin over the last year or so. All the people coming in late to the party with the people in the know realizing the shyt is going to hit the fan, so they’re trading accordingly.
This entire economy IMO is based on a fallacy that all of a sudden everyone has a decent job and that the workers have the advantage etc. now yes if you were already gainfully employee (as a professional not laborer/customer service etc) then there are definitely more opportunities etc. but think about people in your life/acquaintances or people you run across that never had a profession that would require specialized technical/educational knowledge. The kind of people who were relegated to working in service industry/temp jobs etc - how many of those people are now all of a sudden in a job with middle class wages, benefits, etc etc.
And now that shyt is showing itself in real estate/housing. I have a realtor that I work with for my properties and she told me a big issue in the industry that isn’t getting a lot of mainstream coverage is that they’re starting to see mortgage fraud attempts increasing. It’s not at the level of course of the early to late 2000s but why would u see an increase in buyers attempting to fake their way into a mortgage if wages, job market and overall economic conditions are so great??
If we had a functioning government we may be able to openly discuss and possibly preempt this shyt but with our current government setup and a Supreme Court that’s gonna fight tooth and nail to advance only the interests of the richest, I feel like we’re in for a ROCKY next couple of years.
I hope we let the market self correct this time.
