Harris at Large
September 22, 2022
BUSINESS IS DEFINITELY NOT SLOWING DOWN
IN THE WEST!
“Missing the bottom on your way up won’t cost you
anything. It’s missing the top on the way down that’s
always expensive.†Peter Lynch
There is no slowing down in global business activities, especially in the West. Putin’s threat of the use of nukes in the Russia, Ukraine war which is likely to dominate discussions at the UN General Assembly meeting now in progress cannot slow down global business. Neither the rumours of a Crash in the Market will cause a slowing down.
Many Investors are literally praying for a CRASH so there could be some equity in the distribution of wealth where the little man can get an opportunity to play in the big man’s game. Those who today can only stay on the sideline and wish to get a piece of the pie will get their moment in the sun and live the principle promoted by Warren Buffet “Buy when Stocks are low and sell when they are high.†That is the one sure way to make money in the Stock Market.
I predicted that Cryptocurrency Investors were in for a surprise and that Bitcoin will level off at around US$20,000.00 per coin. I am not doing badly on that one; as I write this column, Bitcoin is now hovering between $19,000.00 and $23,000.00. However, with the much touted impending CRASH, where will investors put their money when they begin to panic? The governments of the world are following this one. The originators of Cryptocurrency are leading but there is some good news. The greatest fear in the Crypto space is the lack of government supervision. As a result, many people have lost substantial amounts of money.
The Biden administration is following up on the position taken in March of this year when it called for more research. The administration has announced a regulatory framework for the crypto industry. The next move will be to implement actual regulations which will take some time. The Government of the United States of America seems bent on creating a Digital Currency. Companies that have not lived up to the hype of high performance will fall by the wayside with investors falling with them. That is the reality. Those who refused to enter the Crypto market at US$60,000.00 with the hope of it reaching US$100,000.00, can now enter the space with reasonable expectations.
I like Ethereum, the blockchain that hosts ether, and which is the world’s second largest cryptocurrency, has finally completed its much anticipated “Merge†upgrade. Unlike Bitcoin, Ethereum is more than a currency; it is a programmable blockchain that finds application in numerous areas, including DeFi (Decentralised Finance), Smart Contracts, and NFTs. This coin is now at US$1,255.21 as of 22/9/22.
Beware of the scammers; they are coming at us with a vengeance. Hold on to your wallets/purses; be extremely careful how you respond to offers of help to secure FREE MONEY. Do not share your personal information with persons who are not known to you. You have to be extremely cautious.
President Biden is ready to say goodbye to the COVID 19 Pandemic but the virus is still present even though some may argue that the discomfort is much reduced and that it is now very much like the common flu. I like the feeling of freedom, whereby I can walk into the banks and other business places without a mask. However, I continue to exercise caution and strongly suggest that you do the same. My mask is always in my shirt pocket and any time I do not feel comfortable in the surroundings I find myself, I put on my mask. Life is precious and I will do everything to preserve it.
Even in the midst of a crisis, there is always something to cheer us up. It was exciting news to learn that any wealthy person can own a room on a luxury cruise ship and live on the open seas. The Hustle of 15/9/22 stated that the cheapest option is a tiny studio with a Murphy bed is for US$1M. I will definitely play the MEGA MILLIONS Lotto every week from now on. After two wonderful cruises, my dream is to live on a cruise ship.
Stay safe, see you next week. Blessings!
Edward Harris
Freelance Journalist/Realtor/Business Consultant
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