Nasdaq down almost three percent.
Egads on the budget. The debt limit is needing a vote early next year. But rates on the ten year are headed to 3.5% and if the debt limit is breached, almost to 4%. Housing will crash and we have a downturn.
Egads on the Millennials. In spite of all the best advice, they are caught with responsibility for paying 4.5% of their income on federal interest expenses alone. Most of that boomer debt.
Millennials are stupified, they cannot figure out any way out of this mess that they did not really cause.
Egads for me, still dealing with tax agents.
Anyway, the millennials were lied to, the boomers are running from the tax guy, leaving it to the kids. Many millennials will be back at mom and dad's, household formation slowed.
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