I don’t pretend to understand economics, but I’m beyond confused about what’s going on in the world? Countries are printing money like mad, but inflation is in check and so are interest rates.
It’s a seller’s market in real estate and price wars are happening. Family members got over asking price for a condo just north of Toronto. A friend of mine just got $100,000 over asking for a townhouse in Vancouver without inspection/conditions.
I understand why companies like Microsoft and Amazon have highly valued stocks, they have truly benefited from remote working/learning and lockdowns, but why is the whole stock market doing well, while retail companies and restaurants are laying off staff and imploding?
I’ve just tried a couple times to explain these patterns, but deleted each attempt. They are pure speculation on my part.
My fear? An eroding middle class and a world divided between the have’s and the have nots. Is this how it starts? It’s shocking how many people live paycheque to paycheque, and I’m not sure those numbers are getting better? Is this upside down and inflated economy going to last? And if it doesn’t, how will this effect the poor? The middle class?
I hope someone is paying attention and looking to the future, because I don’t think I’m the only one that sees this as a big, puzzling mystery.
