Economy Blowing Bubbles Ready to Burst!
To begin, let me just start with a little history. It was sometime around that Fall in the year of 2008 when everyone had their eye on the stock markets and the gross domestic product- GDP. It was the first time the GDP dropped into negative territory in years, signaling a red flag(in my mind). So just being me and the way I am, I made a phone call to our Ameriprise agent about our 401K account. I discussed with her my concerns of a possible recession that analyst kept talking about, but no one really seemed to care. Apparently, Ameriprise didn't seem to care either. Why would they? Wasn't their money, right? I was told everything will be fine and not to worry. Well, I didn't care what she said. I worried. So I waited. I simply watched how most of the U.S. kept enjoying life like there was no tomorrow. Driving around in expensive cars they could not afford, having parties in the their homes in which they paid an arm and a leg for, and being totally naive ...