Not being an economic major, I will take your word.
I surely agree the “perfect storm” could erupt.
But if I look around at life in our world, restaurants are pretty full, malls don’t seem to be vacated and the $10 dollar movies seem to be populated.
When that stops.....
Good Nite :)
It will stop literally overnight... you know... when you go to use your credit card, and you find out Citibank has vanished...and so has your credit card.
As if there wasn't enough danger, the one that will break the zero-savings public, is when they go to the grocery store and come home with nothing.
I talked to my 19 year old Daughter yesterday, and she said no longer goes to malls. The price of gasoline has caused her to adjust all her spending.
The younger crowd has seen nothing but good times until now. Rainy days do come. These young adults are in shock.