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We are entering a year full of promise. We could lay the groundwork for sustainable fiscal policy, monetary policy and whatever you pet policy may be (mental health, environmental...). Except, let’s not forget the road to hell is paved w good intentions
Don’t take me wrong: I’m an optimist. But I’m also a realist - our policies are always focused on short term gratification (eg think $2k stimulus); had we spent a trillion in March on how to safely operate instead, we would be in much better shape today;
short-sighted policy making adds up as evidenced by tens of trillions in gov debt and central banks creating a make belief risk environment. Underneath, the social fabric is eroding - and those of us lucky enough to thrive in this world don’t see the warning signs
That’s why parallels to the 1920s may be quite appropriate. We think we are so much smarter, but human psychology doesn’t change. The 1920s didn’t end well depending on how far out you look rather disastrously.
Yet for those hiding behind the couch lamenting about the ills of the world: don’t. There is work to be done to get prepared mentally, physically, financially to weather what’s ahead. Invest in yourself and your community.
There is always a tomorrow, the Q is what role you will play in it.
