Happy Thursday. Your Survival Guy’s been up for hours, having returned yesterday from a three-week international research trip to Paris via Rome. I’ll have plenty to share with you in the weeks ahead. Don’t be a stranger. Beat the Friday email rush by checking in with me daily right here at www.yoursurvivalguy.com
OK then, here’s my take on the lay of the land on the international front. The US dollar isn’t what it used to be, and Your Survival Guy doesn’t see it getting any better. Over the last eight years or so, Your Survival Guy’s been traveling to Paris, often twice a year in November and May (except for May of 2020 due to the manmade “pandemic”). My point of reference for you this morning is this. My boots (Guccis) have been on the ground pre and post-Covid—perhaps the most destructive manmade disaster in modern history. I have experiences to share with you.
Pre-Covid, I felt like the US dollar and our economy were well respected in Paris. I had fun conversations with folks on the rough and tumble streets of Avenue Montaigne and St. Honoré. Now, in my conversations with acquaintances, new and old, it’s what they don’t say about America that says it all.
In earlier trips, it seemed that the US dollar was well respected regardless of the exchange rate. There was a certain respect that went unspoken. Now, the greenback is viewed as if you put a used tissue in front of a banker. Will your government default? Not a great reception. Note to yourself: Leave for international waters with your war chest of euros before you leave. I never worry about the language barrier. Money talks.
Now that I have years of perspective for you, I can provide anecdotal on-the-ground intelligence. This is something I’ve been working on for years. I can tell you that our major export is tourism, and the underemployment in both the US and Europe have big-time structural implications that will last for years, if not decades. The turnover is massive. The workers wonder how their nonworking former associates survive. They tell me you don’t have to work that much to survive in Europe. Sound familiar?
When the currency is debauched, and leadership has no compass for the way forward, how will that impact the investor class? You and me? Stick around. This is unraveling as we speak.
Action Line: This is too important a trend to just stand there and do nothing. Stick with me.
Originally posted on Your Survival Guy.
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