"We are in a State of COLLAPSE - This is WORSE than Recession!" - Jeffrey Sachs Warning

[Happy Hoosier]

41. Well sure... the wealthy can weather hard economic times....

That's not a huge surprise.

One the best points of wealth (from a wealthy person's perspective) is insulation from financial distress. Wise qwealthy people have a mix of assets and can ride out (and even benefit from) economic hard times. It's why the rich get richer and the poor get poorer.

I do think the economy is teetering on a structural precipice. The analysts are all over the place on how bad it could be. Some are talking the usual recession/bear market. Some are talking a long "lost decade." I hope it's not a lost decade. I plan to retire in 7 years.