Every bubble is based on a debt problem for the last 800 years. So why is the biblical warnings on debt no longer timely?
Notice the very last graph in this article, it says it all. We are in a very different place with regards to reported Govt stats when compared to actual demand in the economy. With the divergence we are either undercounting all the good stuff we are buying or we are over counting the jobs created. With QE, Sweden now paying negative interest rates for Govt bonds, and the 200 trillion dollars worth of debt worldwide we are starting to experience a BIG change.
LA Times has noticed that the Homeless are growing. Reminds me of the Hoovervilles in the 1930’s stories. At the base is lack of jobs and increasing costs. I would not be surprised to find a demographic shift of older retirees that had never saved or burned thru savings when financial hardships hit. I expect that it will be my fault and take a massive govt intervention to solve given this is California.