Heres a left field idea re consumers not spending - do you think maybe inflation is staying high because people still spend ridiculous inflated amounts on necessities (food, housing, etc ) but cut back on items, mainly services, which they can now avoid due to the worlds grestest encylopedia - Youtube?
By that I mean if you want to find out how to DIY, theres no better place to learn. Currently learning to repair hydraulic jacks and radiators myself . at a mere fraction of what it would cost a trade shop to do. So, maybe, the Youtube com,munity is propping up people as they run out of money?
I also notice there is rip snorting buy and sell activity on Facebook Marketplace. And you can get perfectly good working stuff for free there too.
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So whats going to crash first this time, houses or stocks? Heres a snippet from a Schlockhead article the other day
That a basic wage to house cost ratio of 12.6:1. Long term data shows that ratio should begin about 3:1 for entry level, and that is what it was when I bought my first home decades ago which was a basic starter on a small plot in the inner city Brisbane. Where we are today is so far removed from that. The asset bubble madness continues - Nasdaq to 21K as I preedicted here 6 months ago. Sheesh!
(20min delay)