[Z-man]

Well, Tabs, you do have same valid reasoning behind your logic.
Here’s my $0.42:
1. Lots of folks in the US didn’t learn from the dot.com bubble nor the 2007/2008 housing crisis. Those who did are likely heading into retirement off of their nest eggs. Further: the current financial “playas” didn’t live through those eras where there was swift and vast financial collapse. (Required viewing to come up to speed on these eras: The Big Short & Valley of the Boom)

2. While the gobberment continues to print more Monopoly money, the average American consumer has leveraged their borrowing power and pushed themselves way beyond any safety nets they may think are in place. Sadly, debt is no longer a four-letter word.

3. The next generation of young adults feel no obligation to work hard for their money, but rather have an expectation that someone, anyone, will bail them out of their financial mess. (Here’s a solution of the current student debt crisis: you borrowed it, you pay it back!)

4. The US is losing ground in the tech and technology-as-a-service sectors. Yes, the POTUS did a lot to bring back manufacturing to the US, and got more Americans working. But are they the right jobs for a sustainable future? Do Americans want those jobs? Are the salaries from those jobs able to sustain our consumer-oriented, borrow heavy society?

5. Oh yeah - and there’s this global pandemic going on - which will take years to get out of, financially speaking. This black swan event only accelerated what may be to come if we continue going down this road.

Does this mean that I’m going to sell all my wares and build a log cabin in the woods and stock up on spoons? Nope - not at all. What it does mean is that I am going to focus on old school financial methods: live BELOW your means, pay off your debts, save up for the future, and diversify your investments in stocks, bonds, and real estate. Maybe even precious metals.

...and if my plan works out, I will buy a small island in the Pacific (Perhaps Ban Island?), declare myself “Supreme Ruler Zoltan,” and tell the penguins to keep marching....

Or maybe I should just stick my head in the sand with the hopes that everything will be ok tomorrow...