How fast life changes. America’s favorite pastime used to be baseball. Now it’s trading stocks and betting on sports—real or fantasy. When I walk down Main Street, there’s not a whole lot going on. Everyone’s trading from home.
Real estate prices, an equation of supply or lack thereof, are through the roof. City dwellers have new hobbies (after trading stocks while “working” from home), skiing in Big Sky or sailing in Newport. What’s not to like? Prices always go up, right? Remember the Great Recession when the subprime crisis hit?
Do you remember the revelry on Main Street USA, when you were bailed out? I don’t either because it didn’t happen. The Fed didn’t come to your rescue. They bailed out the big banks rather than investigating who did what.
Today? How about the Great Lockdown? The only one bailing out Main Street is Dave Portnoy over at Barstool Sports. Check it out. Later this month over in Davos, we’ll see the masters of the universe gather to prepare The Great Reset.
In The Great Reset, there won’t be any laws passed. Laws are too onerous for them. Laws mean accountability. Instead, the big shots exchange world views and contact info (masks on, of course) and hit the slopes. Do you think mom and pops will be in the lift line?
Action Line: Now is the time to take inventory of what you hold near and dear. Ask yourself: If there’s another Great Lockdown, Great Recession, or Great Reset, am I prepared? This century hasn’t been kind to those who weren’t prepared. And I’m not even counting the Great Tech Bust.
Read more about The Great Reset here.
E.J. Smith - Your Survival Guy
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