Of Two Minds

Speculation has its own expiration dynamics, and they don’t depend on us recognizing speculative excess for what it is. They will unravel the excesses regardless of what we think, hope or deny.

Combine all these factors and the result is a potentially volatile mixture awaiting a catalyst.

This is not to suggest living/working overseas is a panacea or easy–it isn’t.

Measured by the purchasing power of our wages/work, we’re definitively poorer, as it takes far more hours of work now to pay rent.

If your earnings rose by 34% from January 2020 to October 2023, congratulations, the purchasing power of your labor kept pace with higher costs.

What’s no longer affordable is eventually jettisoned, including high-rent homes and apartments.