One point in your collapsology I haven't seen you stress, is the *debt trap* in a hyper-inflationist crack-up.
OK, variable-rate debt people are fucked.
In thesis, *fixed rate* debt x hyper-inflation pays off your debt, & you basically get a free house.
Yeah sure.
When collapse happens, & income drops/stops before debt is paid, debtor can't pay even the devalued debt & loses principal. & no one except Black-Rock can buy the house, so its market valuation falls through the ground, not covering even residual mortgage value.
That's the plan to make you a renter you'll own nothing, but actually you won't be happy.
One point in your collapsology I haven't seen you stress, is the *debt trap* in a hyper-inflationist crack-up.
OK, variable-rate debt people are fucked.
In thesis, *fixed rate* debt x hyper-inflation pays off your debt, & you basically get a free house.
Yeah sure.
When collapse happens, & income drops/stops before debt is paid, debtor can't pay even the devalued debt & loses principal. & no one except Black-Rock can buy the house, so its market valuation falls through the ground, not covering even residual mortgage value.
That's the plan to make you a renter you'll own nothing, but actually you won't be happy.
=> Can't have any debt entering the collapse.