Hi

I cant understand how people continue to spend money buying houses, cars etc when it wouldnt take a rocket science to work out we are heading for a cliff edge economically. Politicians say we will have hard times but we will bounce back quickly but they are trying to fool the people.

Perhaps people are spending before their money becomes severely devalued and that I can understand but I dont think this is the reason. I think people are buying property because they think it is an investment and in the very very long term it possibly is but we will not be going back to the boom market of the early 00's which were just crazy.

In fact personally  I think (and there are many commentators saying the same thing) that house prices will fall dramatically within 6 months to a year when payment holidays are removed and lots of people start losing their jobs when support if withdrawn and many businesses collapse. 

The West has been living beyond its means for decades now and people feel a sense of entitlement. Benefits have got totally out of hand and now Governments are having to support people on furlough from jobs (jobs which may not be there when support disappears).

It has all the hallmarks of a great depression.

Anyhow, I would be interested to know what others think??