The Economic Season Is About to Drastically Change
It means you have 90 days (at the most) to prepare, according to financial expert The Barefoot Investor.
I’m not one for panic. Having said that, it’s obvious we have been living in ignorant bliss.
The real economic disaster hasn’t begun yet. In America the $600 extra a week that those who are unemployed receive is about to end. Those who have mortgages on their home backed by Fannie Mae, Freddie Mac and Ginnie Mae can get 6 months of forbearance if they have been impacted by the health crisis. But this support from the banks, too, is coming to an end.
In Australia, where I’m from, the pause we have on mortgage payments ends in 90 days, hence this advice from financial expert, The Barefoot Investor, who is perhaps the most calm, conservative, optimistic, nicest guy you’ll ever meet.
Right now we’re in the early stages of reopening the economy, and we’re riding a wave of optimism after being locked down for so long.
But just remember that for many people things will change in September. That’s when the economic season changes and we’ll find ourselves smack bang in the deepest recession in living memory.
What does that mean for you?
