Will you even know it when they come for your cash? When they the steal it in the dead of night? When the digitalization of the dollar makes paper obsolete?
Think they can’t inflate your money away? Look at interest rates—flat as a gingerbread cookie and stoking the inflationary real estate fire. First-time buyers can barely afford a manger, never mind a three-bedroom, two and a half bath.
Remember when you bought your first home when interest rates were closer to the Twelfth Day of Christmas than the first? Back then, at least you could make the numbers work based on your salary. Today, first-time homebuyers pay some crazy multiple of their salary if they even have a job.
Managed interest rates create winners and losers, destroying what used to be the beginning of the American dream—buying a home and starting a family. The new pastime is trading stocks on Robinhood (sorry NFL) and playing video games on PS5 (if you can get one) instead of discipline or sound investing.
E.J. Smith - Your Survival Guy
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