I personally like slow growth times. I did well in the early to mid 1990s. In those times, only the very best succeed.
Due to my conservative nature, I don’t like boom times where the tides lift all boats.
For example, I would never offer on a house upon first viewing. In my opinion, people who bought sight unseen and made money did not deserve it. They just got lucky.
The dot.com boom was just ludicrous. It was all hype. And so was the Y2K deal. I knew nothing would happen and nothing did. BTW, the Fed injected massive liquidity into the banking system to avoid a crash at that time. And every tech firm was hawking Y2K consulting. I resisted a much as I could but had to spend money to “insure” against the Y2K bug. Ridiculous! What was wrong with shutting down the computers for one day a taking a day off?
I’ve come to beleive that all the “new paradigms” are marketing hypes that end up in big crashes.
I’m all for a hard recession to reset our national priorities. Let’s get back to sustainable growth based on real productivity. Vaporware needs to die once and for all.
And, yes, let’s slash government spending. The bureaucrats got fat and lazy during the good times also. Public spending needs to be re-adjusted to provide real value.
Personally, I’ve got nothing to worry about. I’ve got no debt and hardly any expenses. I’m not boasting here. But it’s about time that financially responsible folks got some recognition in this country.
