Technically I live outside the Beltway, but I do work inside the Beltway, so maybe that's just a quibble.
As for "houses halved in value," depends on when you bought.
The people who got really screwed (really screwed themselves) bought at the tippy blowoff top of the housing bubble, with toxic mortgages that they really could not afford, many apparently hoping to flip to the next sucker. Or cashed out all their equity with a similarly toxic mortgage, that they really could not afford.*
I like to joke that the toxic lenders then sold the toxic loans to the Chinese who paid for them with the money we paid them for toxic toys. Ha ha. Not completely false, not all that funny.
I am just telling you what I see, little data points. I am a detail person, I don't see the big picture, just a myriad of details, too many to lump together into a clear tragetory. 300 million people here, 7 billion in the world, every one of them intent on living their lives as freely and fully as possible, by their own light.
I don't predict the future. I will leave that to you, and Jay, and C2.
As for "men produce" -- it is my impression that Chinese factories tend to employ women.
(*I see these people every day. They are my clients. Wish I understood them better. I could tell you the facts but cannot find a narrative thread that makes any sense to me. Some do one thing, some do another. Staying married seems like a good thing to do. Not having babies out of wedlock is another. Finishing school or learning a gainful trade is another. Not using crack or meth is another. Not gambling, not spending money on porn. Etc.) (How in the world did they run up so much credit card debt? That's crazy, too. The credit card companies are the biggest bloodsuckers on the planet.)
(Living in sagebrush country probably makes it hard to find meaningful work, unless you have a ranch.) (Or maybe someday, a windmill farm or a solar farm.) |
