Listen to the Podcast or Watch the Video version of Episode 50!
What’s up! It’s episode 50 of Payne Points of Wealth, hard to believe we’re 50 episodes in and we’ve been doing this podcast for a year. We thank you for your support. As always, there is a lot going on right now in the economy and the stock market. We have the Delta variants still running rampant around the world. Is it going to slow the economy down is the big question on the investor’s mind? As we’re recording this right now, the government’s looking to pass trillions of dollars. What impact is that going to have on the economy? What impact does that have on you and how do you position yourself to win right now as the market continues to go higher? We’re going to break it down for you. We have a special guest on the tipping point, Kristan Vermeulen founder and CEO of Knotical Public Relations. She’s also the podcast host of Makers of the USA. She talks with business owners all across the country. She’s going to give us the pulse on that so we can get a better idea of what’s going on in the economy.
You will want to hear this episode if you are interested in…
- Never trust the consensus [1:30]
- Are we coming into a melt-up? [4:18]
- Which market are they talking about? [6:12]
- The only place there is no opportunity [8:35]
- The Tipping Point [10:52]
- What is a maker? [12:42]
- When unemployment benefits end will we see more job applicants? [15:24]
- Will small businesses keep struggling, retire, or sell out to large corps? [19:22]
- Hidden Facts of Finance [24:24]
Never trust what every investor believes in unison
In a year where volatility is basically non-existent. The market was actually down last week. Like 1%, if we can even call that down at all. That just seems to be the theme, there’s no sell-off. One thing we’ve talked about a lot on this podcast is never trust the consensus. Never trust what every strategist and every investor believes in unison. I hear it over and over again that we’re in the weakest part of the year, until Halloween, and that the market’s probably going to sell 10-15%, the market needs to have a correction. When everybody’s looking for the same thing, we know it doesn’t happen and this market just won’t let you in. There’s a lot of people in cash sweating it out right now.
This week on the tipping point: The pulse of America
Our guest Kristan Vermeulen founder and CEO of Knotical Public Relations is also the host of a really cool podcast, Makers of the USA. Basically, Kristan goes out and talks to a lot of business owners. American-made, niche type of companies. She explains that her definition of a maker is a broad term, you have your woodworkers, metal workers, folks that make products but she also considers a maker to be a musician, photographer, or videographer.
The Payne point that has been such a challenge amongst these makers and their mom and pop shops is they have to utilize their personal assets or personal funds to stay afloat. And like many businesses they are having a hard time with the scarcity of materials and finding workers. Unlike big companies in this community, they find it scary to increase their product prices because they’re afraid of losing customers. They don’t want to miss out on the customers they already have because some sales are better than no sales. Check out the episode for the full scoop from Kristan Vermeulen!
This week’s hidden facts of finance
In June, the median home price was a record $363,000. Up 23% year over year. Better than the S&P 500! Unbelievable, with all this money a wash around the world, everything’s being bid up, whether it’s real estate, stocks, businesses, everything but gold actually. But it isn’t better than the S&P because the S&P pays a dividend. Last I checked, every month I’m paying real estate taxes. I’m paying utility bills. A home’s great, but it’s a place to live. As an investment, I’ll take the S&P 500 any day of the week.
Resources & People Mentioned
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