@MorlockP GP I wouldn't be surprised by another recession. We never really recovered from the last one because of Fed's free money policy.
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Replying to @Gormogons
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@Gormogons exactly. There are 2 reasons I am extremely risk averse these days: 1) wasted peak earning yrs in my 30s w mediocre small biz1 reply 0 retweets 0 likes -
Replying to @MorlockP
2/ the fundamentals of our economy are terrible. Labor participation rate terrible. Baby boomer explosion coming. No '08 recovery
@Gormogons1 reply 0 retweets 0 likes -
Replying to @MorlockP
3/ I don't want to go full cynic, but I can't see how we get back to a 1980s / 1990s economy from here. We're !@#-ed.
@Gormogons2 replies 0 retweets 0 likes -
Replying to @MorlockP
4/ Probably this just means eurosclerosis, but the chance of Unexpected Really Bad Shit™ has gone from 0.001% to 3-5%.
@Gormogons1 reply 0 retweets 0 likes -
Replying to @MorlockP
5/ So I'm very iffy on saving money in conventional ways (cash, stocks) bc values no longer based on fundamentals but on politics
@Gormogons1 reply 0 retweets 0 likes -
Replying to @MorlockP
6/ So I pay down mortgage & do improvements...the same way people do in times/places where other capital formation doesn't work.
@Gormogons1 reply 0 retweets 1 like -
Replying to @MorlockP
7/ Probably / maybe betting against America is stupid, and I miss out on the next big stock market rally and never retired. :-/
@Gormogons1 reply 0 retweets 0 likes -
Replying to @MorlockP
8/ But having once been crushed under $600k of small biz debt and knowing how that squeezes the air from your lungs...
@Gormogons1 reply 0 retweets 0 likes -
Replying to @MorlockP
9/ what can I say? I'm risk averse. Just like your old Depression era grandparents. "Save that pickle jar! Save that string!"
@Gormogons1 reply 0 retweets 1 like
10/ "Don't trust the banks!"
On the bright side, at least I cook better than my depression era grandmother.
(Not that hard!)
@Gormogons
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Replying to @MorlockP
@MorlockP Post-traumatic psychoanalysis aside, I think at least 40% of your risk aversion is an excuse to build things.@Gormogons1 reply 1 retweet 2 likes -
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