The "basics" of saving and buying only when we have sufficient savings to do so, has largely been "lost" in my time @tarazkp. At least here in America. Although, what I read about the "general state of affairs" in most of the western world, I don't think we are by any means all alone ...
The result? Debt. Massive debt. Where ever increasing amounts of our country's annual "budget" is being spent simply to cover the interest ... Interest that has lost "sanity," as we now see interventions resulting in negative rates?! Paying someone to borrow money?! A slow, steady descent into insanity ....
Not only are we not addressing this fundamental problem, a case could be made that we are accelerating away from addressing it ...
The outcome? I do not profess to be wise enough to know, but it is inconceivable to me that it will be even remotely close to positive. I tend to personally believe it will be much closer to the "disastrous" side of the spectrum of possibilities ...
And don't forget, penalizing those for saving.
What I am "hoping" is that the blockchains will work their way through the structure to increasingly take wealth away from the crumbling host and in so doing, add some checks and balances on what is really available to use,rather than just keeping on printing inflation.
Yes @tarazkp ...
... this is true for many.
Will this new asset class remain "free" of its "crumbling host?" That is the big question. At least for this "old war horse" ...
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I don't think it will be free, but it will house the assets of the host and bring much more of it out into the light.