Get Comfortable being Uncomfortable
Yesterday we featured an interview with someone who relocated from a big U.S. city to the countryside in Indonesia. Today we feature a 40 min interview we did last month with Robert. He is a New York attorney who works remotely and so is outside of the big city as well.
My thoughts -
1. Yesterday we mentioned the exodus of the wealthy from #NYC. Same is happening in major cities across the US (and around the world) including #California. Nearly half of the US homeless population is there plus there is a looming #WealthTax. According to online real estate company Zillow, #SanFrancisco home prices have fallen 4.9% year-over-year, while inventory has jumped 96% during the same period.
2. As Bloomberg reported on Monday, virus mutations suggest that there is no #NewNormal but we live in a post normal world. We need to be comfortable being uncomfortable.
3. Simply put: there are many less jobs. And a LOT more people competing for them now. This imbalance will worsen as the extraordinary government benefits dry up, as they are highly likely to do after the US November presidential election. Markets should experience another major correction as US companies currently kept afloat by Federal Reserve stimulus are allowed to sink...