Any variable rate debt is going to get really expensive, in the very near future.
Even if you are in a fixed rate mortgage when you bought your home a couple years ago, when rates are much lower, it’s still going to get bad for you.
If you are not already, you will soon be underwater on your mortgage, if you purchased a $300,000 home a couple of years ago, the price of homes will be crater if mortgage rates get to 10% or more, they are already touching 8%.
The scary scenario is US involvement in a war in the middle east, oil is already at $90/barrel I’ve seen predictions of $140-150/barrel in the next 18 months or less.
The death spiral will be rapidly rising oil prices, which will make inflation spiral, which will cause interest rates to spike which will devastate the consumer and the economy in general.
The economic geniuses in Washington will see shrinking government revenue as the economy tanks, Government spending will go up, the cost of finance the new debt and refinance the existing debt will cause the deficit to explode.
I’m usually a real pessimist when it comes to the economy, but I see nothing but a really bad future in next couple of years.
oil is already at $90/barrel I’ve seen predictions of $140-150/barrel in the next 18 months or less....the economy completely shuts down at that point. Folks won’t have the money to fill up, buy food or pay their bills.
And you’re just talking about the economy. Still have millions of illegals to start paying for so property taxes and the school taxes in them go through the roof.
Then, as has become evident, the country just might experience some issues from a certain group of people that have been marching around different cities, in support of Hamas and the Palestinans.
When that violence erupts, and it will, we’re going to get a first hand look, in the RED States initially, just how many Governors, LtGov, AGs, and “Constitutional Sheriffs” are about protecting their constituents. And we’ll get to see who the real 3%’ers are.
It gonna get ugly, for sure.
But..........Orange Man Bad and no mean tweets.
Life is just peachy.