Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020

Posted by Tim Cole On 2020/4/11 7:57:35
I'm not trying to be downbeat, but given the present economic situation discretionary asset values are subject to some steep declines. Caution may be in order.

Believe it or not, in late 2019 one of the car clubs asked me for input as to how to manage their sketchy future given the growing income inequality that is having a highly detrimental impact on their ability to stay afloat. I told them there was a tremendous potential for event risk that will bring an upheaval in asset prices. My timing could not have been better!

With all of my spare time, I have been reading Dr. Zhivago. During the Russian revolution diamonds and gold weren't very much, but if you had a winter coat to trade you could get food to eat or fire wood for heating.

As well, the current "economic stimulus" program isn't going to do such as much as it is another attempt to prop up the stock market. What good is money when businesses are shut down? If there is cash floating around there will be less 401k draw downs. However, the balance sheets of the typical American corporation are in such bad shape things are going to get pretty ugly.

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