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The mindset as exhibited here ^^^ is all predicated upon past experiences with no conceptualization of what the future dynamic might be.

There is one major dynamic that is at work today which HAS NEVER TAKEN PLACE in the history of the USA before. The FED is MONETIZING DEBT, they have printed money to fund the US government. What is insidious about it is that the currency they are monetizing is the Worlds Reserve currency. Equate it to the FED and other Central banks pulling the rug out from under you. The historical outcome for such practices has never been pretty. It is destabilizing to say the least.

The other factor that has to be considered is that the US government is running a 680B and CLIMBING yearly Bar Tab....without regard as to how the bill is going to be paid. If there was a political will to balance the budget TODAY that engines momentum could not be stopped until at least 2025.

The upshot of these two factors is that the (Global) system is becoming evermore destabilized and fraught with risk. Both Equities and RE markets performance bears no relationship to economic realities. Both of these markets are distortions brought about as a result of Federal Reserve manipulations of currency and interest rates. This is in the face of political dysfunction in the USA and elsewhere. There is simply no political will nor civil will to face reality. Peoples expectations are out of sync with reality. However slowly it might be, that reality is slowly taking shape by becoming normative. The instability in society that people are experiencing today would have been unheard of a decade ago.

In a conversation with a relative this week our Depression/Greatest Generation parents were discussed with relationship to how they were brought up. For them the normative was DOING WITHOUT. They simply did not have the means nor where with all to have anything. It was a hard scrabble existence. For them having money meant having the security to be able to buy food and provide a roof over their heads. When they had the opportunity after WW2 to work they saved their money. Which is unlike the succeeding generations where Money is something that you go out and BUY SOMETHING with. This later mindset is the hubris that comes with the prosperity of flush economic times. For what does it matter the barrel of prosperity is endless. If you do not have cash, no matter there is credit. Which is in fact an obligation upon FUTURE earnings...the money has been spent before you even get it. This then constricts future spending and ultimately the DEMAND CURVE. This is essentially why economies remain evermore sluggish and moribund. As debt rises economies become evermore sluggish...that is why Humpty Dumpty CAN NOT BE PUT BACK TOGETHER AGAIN>..

Americans have traded in their future for some cheap plastic crap made in China. One hopes you are all happy campers.