Mindset matters.
Does it matter who’s President? In the long view, I don’t think so.
The script’s already written.
As a country, we’re buried in debt. When you’re only paying the interest or service fees, you’re in trouble.
I’ve stopped listening to politicians. Now, I tune in to historians and economists.
In my lifetime, the cost of a standard house skyrocketed. At first, I could barely afford a mortgage solo. Now, first-time buyers have it way worse.
A decent new car used to be $18K. Now? A basic one will run you $30K. Want a few extras? Forget it. The price jumps way up. And a cheap EV with range? Yeah, right. They still cost more to get into than a starter gas car.
Monthly car loans today are more than my first mortgage. It’s insane.
Wages haven’t kept up. At all. For some, hustling or side jobs aren’t optional. They’re needed just to cover the cost of living.
Meanwhile, influencers flaunt their “splendid” lives online. Maybe YouTube’s still an escape. Funny, isn’t it? Advice for those over 50 is to start a YouTube channel. Some make money, but most don’t.
The economic divide will keep widening. Those at the top will hold on to what they have, pushing more people down to the bottom. This is what happens when governments run out of assets and keep piling on debt.
Our government might go the Thatcher route, selling off assets or privitizing.
Privatizing Social Security and other government programs will guarantee the divide keeps growing.
Wealth isn’t leaving the planet. It’s just getting redistributed.
Trump’s floating a third term. He hasn’t even started his second yet. If he goes for it, it means even more changes to our government are coming.
So, yeah. Mindset matters.
There’ll be chaos. Tons of it, I’m sure.
But this is also the time to seize on change. New technologies will emerge. New options will open up.
The door is closing on the U.S. as a world leader. It’s been happening for years. The deeper we sink into debt, the faster that door slams shut.
None of this is rocket science.
We printed trillions during COVID. Sure, other governments did too. Thing is, we’re mostly just paying interest on our loans. Yeah, I know it’s more complex than that. Now, our money’s worth even less.
That means other countries are more and more interested in diversifying into BRICS. The dollar is losing some of its appeal. Change won’t happen overnight, I hope. But the fact that BRICS exists and is gaining interest shows that movement is underway.
Economy is a problem. Even as I cashed my COVID check, I wondered, How will this be paid for?
Other countries (Venezuela, Japan, parts of Europe) learned this the hard way: inflation, deflation, and political unrest. These issues knocked them out as economic powerhouses.
Now, it’s our turn.
Another part of our problem? Isolation. We don’t recognize patterns. We’re too self-absorbed to look up or out. We ignore world news, so most of us don’t see what’s happening here in light of what happened elsewhere.
I was talking with a friend who’s hyped about Trump and the tariffs. I mentioned, It’s a tax that we, the people, will shoulder. He didn’t believe me. Trump’s here to save us, he said. So, we won’t pay the tariffs. China and others will.
Right. How much did Mexico pay for that wall? Nada.
I’m not a Debbie Downer or depressed. I just believe economic history matters. What we’re seeing now? It’s all happened before.
Richard Wolff has great YouTube talks on the decline of the U.S. empire. No political sides, just economics and history.
Then there’s AI, taking away white-collar jobs. That’s going to increase unemployment.
And if the unemployment safety net is done away with? There’s talk of simplifying or even cutting parts of government support to reduce spending.
When illegal immigrants are deported? Their jobs will require real wages if Americans take them.
However you look at it, change is coming.
Mindset will always be the most valuable investment in facing the challenges ahead.
I’m evaluating my own.