People are used to walking on firm ground. If you have ever experienced an earthquake, it’s an unsettling feeling. Most people don’t know what to do. You will often see people running in all directions. Some of them are taking action which will improve their own personal safety, and others are actually running into harms way.
Global financial and stock markets are experiencing an earthquake of sorts and people seem to be running in all directions.
I’ve been saying for a while that we have nothing to worry about. At this point, I’m willing to admit that I may have been wrong about the scope of the tariff impacts. The NASDAQ stock index is down 19%. We will see disruptions and volatility. Will we see the cost of new construction increase? Maybe a little. But it’s too soon to tell.
To prevail over this chaos, you need to be thinking clearly at a time when many investors—and policymakers—are an emotional mess. It takes a level head to think clearly.
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