Very enjoyable post there TJ. As Big Ben wags finger and pronounces "Don't fight the FED", the mob falls back, nervous before the threat as some will indeed be severely punished.
The Aztecs jump back, like a pack of hyenas from a cornered but dangerous large animal with big horns.
While house prices are high in places like Escondido, where a very pleasant but modest 3 bedroom house on the periphery of suburban existence is offered for $545,000 = nearly NZ$1 million, it doesn't seem excessively silly with GDP per capita at something like $40,000 or maybe it's nearer $50,000 with pixelation processes and burgeoning this that and the other dating my information.
10 years for a house seems normal enough to me.
It's not as though it's 20 or 30 years which would be excessive.
The high price of fuel will cause a reduction in the amount of steel, rubber and other materials used to cart 70kg of human around the freeways. I can't see why it should take 2,000 kg or 3,000kg of stuff to move 70kg or even 100kg.
Other than that, life can proceed happily in the debt-founded USA context, using Big Ben's bucks.
My Happy Meals per month from USD deposit isn't up to obesity levels yet, but I am not a starvling.
I think a couple or few more rises will make the world realize that the USD is not yet done for. Debt is a driver! "I owe, I owe, it's off to work I go". Great old Snow White and Seven Dwarves song - children's stories are excellent to keep in mind.
Mqurice |
