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overtheedge
Member since May 2012
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Doom, or Sunshine? It Depends… - Rick Ackerman -

Generally speaking, debt is commensurate with income level.
A higher income tends to give the person a false sense of security. The higher income is believed to act as a cushion during times of economic malaise.
Unfortunately, asset values can rise and fall with the general economic condition while debts tend to remain fairly constant.
Asset valuation can plummet when everyone rushes for the exit.
It takes very little before asset valuations fail to cover debt.
It has been my observation that most contractual debts have a "pay on demand" clause buried somewhere within.
Therefore the higher up the economic ladder, the greater the fall.

Although I see doom and gloom ahead, I also see the prospects for real economic opportunity.
A market will always exist for critical needs; food, fuel and transportation of same are examples. The worse the economic conditions, the greater the demand for vices. See Amendments XVIII and XXI and their ratification dates.

I would offer that my attitude is probably skewed by my distinct lack of debt.
It is said that in the land of the blind, the one-eyed man is king.
If almost everyone's debt load exceeds their capacity to repay it, where does the debt-free person sit?
Perhaps we shall soon see although I would prefer otherwise.

Commented 3759 days ago

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Beginning of the headline :[Why do some who frequent this forum see only blue skies ahead for the economy while others expect something like economic Armageddon? Forum regular Andy Gutterman, aka 'Avocado,' has a theory that one’s point of view may be colored more by income level than by any other factor. In the guest commentary below, he looks at his own circle of friends to expand on the point. Meanwhile, whatever we as individuals might expect, Government itself sees the clouds parting in 2014, ushering in strengtheni... Read More

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