Hey there it's JVL on the secret show today I was joined by Tim Miller.

We talked about the economy and Bidenomics and

whatever voters actually thinking.

Here's the show. My contention is that in every economic time there are lots and lots of people who are in a precarious position because this is America and we are sort of red

into the law and our social safety nets are okay but not great and you know no matter

when you are you're in the 1986, when things were going great,

if you're in 1996 when things are going great,

there are a whole bunch of people who are an illness or a lost job away from real financial calamity.

And so even in times where we say the economy is good, there are a lot of things which cut both ways. Good for some people,

some people, bad for other people.

For instance, we say today that inflation is bad,

and inflation is bad unless you happen to hold a lot of debt at a high at a low interest rate.

Right? If you bought a house five years ago and your mortgage is at like a 2.8%?

The inflation is very good for you because it is eating away the value of the debt you owe.

If you are, if interest rates go up and that begins to I bought a house in April by the way so maybe this is

I know maybe this is coloring our the discussion this is color yeah our discussion. Totally get it.

If you are, if interest rates go up, this has a cooling effect on the housing market, right?

It slows the housing market down because the the costs for

you know to borrow money go up and your monthly payments go up etc etc that is bad for somebody

trying to sell a house, but is generally pretty good for the buyers

because the cooling market means that they have more leverage in their negotiations

and that they're going to be able to do better on price.

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