I agree with your comments more than the parent you are replying to. Inflation is staggering. Those of us, mostly older people, with lots of capital are benefiting by the booming stock prices, etc., but average workers whose income is mostly salary are screwed.
I do think things are generally good right now, and I expect because of the upcoming presidential election the economy will be manipulated to look good, but we will hit an inflection point where the cost of paying interest on government and personal debt will collapse the economy, at least for a while.
I have what is probably a worthless prediction: the many democracies, true democracies, around the world will generally do all right over the next ten years, but I think the US, Russia, and China will all have serious problems. There are exceptions to this: countries like South Korea will also have problems stemming from really low birth rates. So, I am betting most of the world will do quite well over the long term, but a few countries will not.
I do think things are generally good right now, and I expect because of the upcoming presidential election the economy will be manipulated to look good, but we will hit an inflection point where the cost of paying interest on government and personal debt will collapse the economy, at least for a while.
I have what is probably a worthless prediction: the many democracies, true democracies, around the world will generally do all right over the next ten years, but I think the US, Russia, and China will all have serious problems. There are exceptions to this: countries like South Korea will also have problems stemming from really low birth rates. So, I am betting most of the world will do quite well over the long term, but a few countries will not.