In a debt-driven economy, when desperate times call for desperate measures, sometimes we are forced to "play the debt game" where, e.g., a mortgage with an interest rate below inflation actually becomes a kind of asset. Monthly payments are actually discounted by the delta between inflation and interest. It's an insane trap that is very hard to escape.
Just listened to Bitcoin Audible #765 with nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev and something finally clicked at the extent of the Ponzi. There is no market for houses or cars without borrowing against your future earnings. The market for $80k cars (if everything is paid in cash) isn’t enough to support production. But, the market for a $1250 per month for 60 months car payment is there.
The entire debt based economy is just pulling forward future demand, so it’s a matter of time before it gets out over its ski’s and falls forward into recession.
People make better decisions in a sound money economy. This helps explain why so many people are making so many bad decisions.
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