So many people don’t realize this. All that cash can disappear quickly when faced with no job.
I’m an uber-bear and even I have underestimated this. I figured employed in RE would go down with the housing bust, but with the bond market blowing up I didn’t realized the contagion would spread to financial services as well. All of those 100k/year brokers hitting bread lines is going to take a major toll on the economy.
