Harry Dent: Don't Confuse the Short-Term Virus with the Long-Term Debt and Financial Asset Bubble

Here is the link.


One of comments:

Today's high inflation is not in commodities like the 1970's but in cost of living, mainly rising rents, child care, student debt and medical costs have been increasing way above stagnant wages. These are the main drivers in the economy leaving less to restaurants, travel, air lines, hotels, gasoline and clothing. The future prospects for generation Z to have a family and buy a home is bleak. They have been stripped of earning power by moving jobs overseas and of making a living wage and the rise of inflation in private for profit monoplized health care, college education and debt. Add massive debt fuelling increases in real estate price and rents, and it comes down to structural failure of the system...the neoliberalism system of excess deregulation, privatization, financialization and free trade. A global health crisis like Covid 19 is the catalyst for system change away from the neoliberal me mentality into a more social we mentality.

Another comment:

Have you heard that 30% of renters have NOT paid rent for April? Have you heard that car sales are down 80%+? Those two things alone are enough to send the economy into a recession, even without job losses. Add in an extra 20% unemployment and you have a mega-depression that has hit us, we just don't realize it just yet.