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Merc, you kind of nailed my thoughts on it. I'm mildly curious about the impending recession, but more to guide my investing than out of any sense of dread.
My wife and I lived cheaply, saved everything, have no debt, and are in a pretty good position to buy stock and property when the prices tumble. To achieve this, we had to bite our tongues and smile when friends showed off their new cars, their houses bought with irresponsible credit, had to turn down invitations to go out to sushi, expensive vacations, etc.
This beautiful system of free market capitalism, in the long run, rewards rational behavior and delayed gratification. It punishes, severely, those who through greed or ignorance make ill-consider choices for immediate reward, without considering the long-term consequences.
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