[zbyforgotpass]

The number one scenario - inflation starts, Feds raises rates, debt service costs raise => debt grows even more and at some point people realize that it cannot be paid back without too much inflation.

Reinforcement in raised rates => depression and stock market crash => investors stop using US equities and real estate as value store.

And Feds needs to raise rates - because of negative effective funds rate (https://www.lynalden.com/wp-content/uploads/newsletter-2022-...) - this is also something that people might not perceive for a long time - but then suddenly see it.

[baxtr]

That might be a probable scenario. What's the probability for this in the next 5 years? 10%?

Also, again my question: What would people buy instead?

[ericd]

Property? Gold? Industrial commodities? Mining rights? Used cars? Bitcoin? Farmland? Other hard assets? Arguably that’s already been happening, with the global melt-up in asset values across the board.