I listened to parents who grew up in the depression, took Financial Peace University offered by Dave Ramsey and have lived will below my means for years and have investments/savings to prove it along with no consumer dept. I will weather the storm, no matter how bad, but 99% of Americans are in deep kimchi.
I’m in the same boat you are. What I fear most immediately is a redestributative attack on savings and investments.
Long term I worry about the prospects for the coming generations, especially if the reaction is more government intrusion into the economy.
“..but 99% of Americans are in deep kimchi.”
Absolute hyperbole.
In SC, BMW just announced a $750 milllion addition to their plant and need 500 more workers, less than one-half of one-percent of homes are in foreclosure, the ports may soon see a multi-billion upgrade and the building cranes are still working.
Most areas facing recession are run by socialist democrats, as in Michigan, which has been in recession for years.
Just because some states are run by idiots, it doesn’t mean every state is going down the crapper.