Predictions nonstop for exact same reasons since 1965. Someday it will happen.
My view is always bet with the optimists and you'll be right 90% of the time and become rich.
Every now and then, rarely, the pessimists have their way. Then they have a glorious 15 minutes of fame followed by a return to oblivion when America bounces back, usually much faster than expected.
One day, complete catastrophe will occur, maybe soon or maybe in 50-100 years. But remember over the last 250 years, the USA has returned to stronger economic growth than ever after The Revolutionary War, Civil War, two World Wars, A great depression, three major pandemics, wild swings in monetary and fiscal policy, and much more.
Therefore, i can assure you, that the inclinations you express in your post will not lead you to a better place economically. But, if you wish to do all that for a desirable lifestyle change, that is a horse of a different color.
In the meantime, IMO, we have entered at least a decade, maybe 2 decades, where there will be more wealth created than during any similar time period in global history.
If you are investing on the right side of the emerging innovative technological landscape, you too can do very well and make many millions. The emerging technological innovations look more powerful than all of the damage combined from corrupt and/or foolish public policies. We're going up, IMO.
Sadly, it will continue to be a tale of two cities increasingly decoupled. The K shaped economic recovery is upon us, and the wealth disparity seems destined to widen. We've never done a good job of solving that problem. There are ways to get that done. Not with impractical socialist or libertarian ideologies, but with practical constructive policy. Our Nation's stability would be enhanced by it.
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Originally posted on May 4, 2021 at 10:44:47pm
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