They can bail them out, but it won’t work. The 2008 financial crisis is directly related to this one.
The difference? People might have jobs, but inflation (real inflation, not Fed reported inflation) is outpacing wage growth so much it’s creating homeless employed people.
In my city, new development on the outer skirts of town is building around the new schools - 350k homes, 300k town homes, $1600/month 2 room apartment rental complexes. No stores in walking distance, so you need a car.
it’s stupid. it’s unsustainable. at some point it will be so bad that people will just sit where they live because they know there will be too many other people unable to pay mortgage or rent.
And in ongoing efforts to kill the economy for 5th time.
They’ll do it again, I’m sure.
And the government will take our tax dollars and bail them out again, I’m sure of that too.
We’ll get nothing except the right to continue to work for minimum wage, and we’re expected to thank them for the “privilege” of having a job.
It’s a wonderful life.
They can bail them out, but it won’t work. The 2008 financial crisis is directly related to this one.
The difference? People might have jobs, but inflation (real inflation, not Fed reported inflation) is outpacing wage growth so much it’s creating homeless employed people.
In my city, new development on the outer skirts of town is building around the new schools - 350k homes, 300k town homes, $1600/month 2 room apartment rental complexes. No stores in walking distance, so you need a car.
it’s stupid. it’s unsustainable. at some point it will be so bad that people will just sit where they live because they know there will be too many other people unable to pay mortgage or rent.
The economy won’t stand a chance 💪