1446: Frictionless Real Estate, Virtual Tours, Hidden Inflation

Hey folks, the moral of the story today is don't buy Dove soap. Don't drink orange juice. Align your interests with the most powerful forces that the world has ever known. Look forward to frictionless real estate, leasing and sales because it's getting less friction. And don't believe everything you read with these silly smart people that think they understand it, that never ask the important question. Compared to what?

Welcome to the Creating wealth show with Jason Hartman. You're about to learn a new slant on investing some exciting techniques and fresh new approaches to the world's most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine, self made multimillionaire who's actually been there and done it. He's a successful investor, lender, developer and entrepreneur who's owned properties in 11 states, had hundreds of tenants and and been involved in thousands of real estate transactions. This program will help you follow in Jason's footsteps on the road to your financial Independence Day. You really can do it. And now, here's your host, Jason Hartman with the complete solution for real estate investors.

Welcome to episode 1446. 1446. Thank you for joining me today. So what are you doing during the quarantine? Are you using it as a self improvement program? Are you becoming better, more knowledgeable, more skilled? Are you getting in better shape? Or is it the opposite? You know, unused brain, unused muscles, what do they do? They atrophy. Don't let it happen to you. We must be diligent every day to make sure that apathy does not take its toll on us. Okay, so today we've got several things to talk about. We need to talk, okay? Yes, we do. So first of all, one little note on inflation. We've talked over the years about all of the ways inflation is hidden from us. Smaller packaging, you know, you buy an item in the store, a can of soup, a bag of potato chips, pretzels. I like pretzels, by the way, especially the salty ones or especially the chocolate covered ones. Those are really good. Anyway, so we buy this stuff and it comes in the same size bag or maybe it's a little bit smaller. Same size can, but there's less stuff in it because we don't really look at how many ounces, what is the net weight and that's a way to hide inflation. Well, guess what? I have discovered yet another one. It is make your product disappear faster. And I've noticed this. And who am I going to pick on? I'm going to pick on the Little scam known as Dove Soap. Are you using Dove Soap? Well, I have my bars of Dove soap in the shower. I bought a big package of them probably at Costco a while back and will not be buying Dove Soap again. It's 1/4 cleansing cream. You know, maybe this is the reason, but here's what happens. You put that under the water and the soap just. It just disappears. It falls apart. It all goes down the drain. So how good is that for the environment? No one's complaining about Dove Soap when it comes to environmentalism, are they? But, you know, maybe you get as many ounces in the bar of soap, but the bar of soap is designed to last less. It's designed to disappear earlier, to evaporate sooner. So you've got to buy more. All of these little hidden tricks of the trade. These companies are really smart, so don't let them fool you. Okay, thank you for all of you who attended our Jacksonville webinar where we talked about rent collection, we talked about the Jacksonville market, introduced you to our Jacksonville team members, and by the way, thank you for all of the excellent questions that you asked during that webinar. Investment counselors should be reaching out to you. If they're doing their job, let me know. If they're not, they should be reaching out to you to get all of your questions answered. And they were some good questions too, by the way. Okay, I got an email from one of our prior show guests who will remain nameless. I don't want to name who it is because this guest is pretty good, pretty smart. But I gotta tell you, even the smart ones are very misguided at times. And why are people so clueless? Because they never ask themselves the question, the important question, the Jason Hartman question. What is that question? It is compared to what question Mark, compared to what? Okay, so in this email, the person was talking about the future of China in the post coronavirus world. And I say the future of China is a lot less than it used to be. It ain't what it used to be. As Yogi Berra says, the future ain't what it used to be. And that is definitely true for China. China has lost a lot of points in this situation in so many regards. Number one, trust. And number two, human rights criticism. Number three, the fact that there will be a strong move toward nationalism and shoring up supply chains. So China will still be the workshop of the world, but less so than it was before this. So China is going to suffer significantly. And then the outlook on the US Let's Compared to what? That's always the question. Compared to what? This person saying that there is a concern that the US would become a second rate and vulnerable world power within the next decade or two. Absolutely ridiculous. Because what is the question compared to what? Well, let me see. Do you think the other developed economies, the other nuclear equipped nations, and I don't mean nuclear energy, I mean nuclear war equipped, will become the next world power and overtake the us? Get a clue. Are you kidding me? And I'm not saying this because I happen to be a U.S. citizen. Listen, I was born in Europe, I've traveled all over the world. I am not myopic, okay, in this situation I am in some ways for sure. We all have myopia in certain things. We gotta work to overcome that. But compared to what? Seriously? Okay, read the founder of Stratfor. Can't think of his name at the moment, but he has two books out. One's called the Next Hundred Years and one's called the next 10 years. And by the way, those were written about four or five years ago, I believe. And just think about it. I mean, seriously, compared to what the US has, how many? I believe the US has 18 aircraft carriers. And who else has a bunch of aircraft carriers like that? Nobody. That's the answer. 18 far outnumbers any other country and even other countries with aircraft carriers. Their aircraft carriers are nowhere near the capabilities of the U.S. carriers. Okay, and why do I mention aircraft carriers in particular? Well, aircraft carriers are the embodiment of the ability to project power around planet Earth. Nothing comes close to the capability of an aircraft carrier to project power. And listen, at the end of the day, you can argue about, well, the US Is going to lose its reserve currency status, this, that and the other thing, whatever. Okay, I hate to say this, but when you think of every law, okay, just think of the law within any country. What is a law, right? Well, a law is hopefully the bedrock of civilization and civilized society. But guess what, when it comes down to it, okay, say for example, a delusional idiot like Bernie Sanders is elected president someday, God forbid. Or a senile man like Joe Biden, Or a guy that talks with very unusual sentence structure and offends everybody, like Donald Trump. Oh wait, he is president, okay, but he's going to be reelected. My prediction? Because compared to what? Right, who else are you going to elect? I mean, seriously, the Democrats? You got to get it together if you want to pose a challenge to Trumpster there. I mean, seriously, Biden is not a significant challenger. Hey, maybe I'll be wrong. Maybe he'll get his act together somehow and things will change. You know, Listen, a lot of things are a moving target in the world right now, clearly a moving target. So maybe things will change by the time we have an election. But the aircraft carriers that other countries have, many of them are just nothing compared to the 18 or so that the US has. And at the end of the day, every law. Okay, Bernie Sanders, that was my example. So say a delusional idiot like Bernie Sanders, not that I have an opinion, becomes president someday, right? Or someone like him, and he raises taxes. Well, okay, fine. That's the new law. There's a new tax law. Great. Okay, well, guess what happens if you don't obey that law. Well, you get a letter in the mail, and what if you ignore the letter from the irs, and then they send you more letters, and then another one says they want to examine your books and audit you, and then you ignore that? Well, at the end of the day, every law is simply reduced to one concept, the barrel of a gun. That's the net result of any law. Okay? And the result of international laws are different than domestic laws. Right? Because domestic laws, the people will show up with guns. They will show up and they'll knock on your door and. And if you don't answer the door, they all ram the door down and they'll come in and get you and take you away and put you in a cage or shoot you and kill you. That's what a law is, folks. Laws are very civil and civilized in the beginning, but at the end of the day, remember the book Power Shift? That great book written in, I think, 1991 by Alvin Toffler? The late Alvin Toffler. I'm sad that I never got to interview him on the show because I'm a big fan of futurist books. Love them, love them, love them. Whether they be Faith, Popcorn and the book she wrote in the 90s, the Popcorn Report. Or what was it called, Clicking or something like that. And then Alvin Toffler and John Nesbitt and now Peter Diamandis and, you know, all the rest, right? Futurists. Great books. Absolutely. Love Futurists. That's my favorite reading. Or Neil Howe and the fourth Turning. Any of these books. These are excellent books, so go get them. Okay. Alvin Toffler, power Shift. Three forms of power, right? The ability to inflict violence. The first form of power. Number two form, the ability to control capital. Okay, Money. That's the number two form of power. It's A higher grade than violence. And number three, highest form of power, the ability to. To control and manipulate information. And that's why the media is such a big deal, because look at the lies they tell. Right? So these are the three basic forms of power. But at the end of the day, power goes from its highest form, information, down to a lower form, capital, down to a lower form than that, violence. It's kind of like saying water seeks its own level. And at the end of the day, every law is enforced by a gun. And maybe it's a gun pulled out of a holster by the people that come to your door when you don't pay your taxes or you don't obey some obscure law that you never even knew existed. You know, my mom brought me up saying, jason, ignorance of the law is no excuse. Well, that sounds fine in a world where you have simple, definable, logical laws, but in today's world, hey, go back and listen to the interview I did with the author of Three Felonies a Day. You're all breaking a bunch of laws that you don't even know exist. Okay? So they've always got something on you. Anyway, that's the deal. That's the end of the day. So what's my point about aircraft carriers? Jason, bring it back. Stay on track here. You're tangent alert. So aircraft carriers are the point of the gun, right? And they are the ability for a nation to project its power. So this whole idea that the US is going to become a second rate power. Sure, someday, yeah, that'll happen. Nothing lasts forever. Even Rome fell, right? For the foreseeable future, you would be making an incredibly stupid bet if that was your bet. So don't make that bet. Align your investment strategy and align your general life strategy with the most powerful forces the world knows today and has ever known before, central banks and governments. Namely the US Central bank and the US Government. Okay, what are they doing? How can I profit from the moves they're making with their terrible fiscal and monetary policy? And by the way, don't think for a moment I'm defending the US and the ridiculous stuff it does. I'm not, but I'm just saying. Compared to what? Compared to what? Compared to what? Zimbabwe, Germany, Every country is like this, pretty much. They're all a big joke. All of their currencies are a race to the bottom. It's absolutely ridiculous. Which brings me to another point. My friend Ryan Nicol, very bright guy, tagged me this morning on Facebook on a video, a video that Kevin did. Maybe you've watched his YouTube channel, it's very popular. He asked me about the idea he was proposing, which is boils down to some extent to mmt, Modern monetary theory, which is a fantasy. It's a fantasy, okay, but it's not completely a fantasy. And basically in this video he was arguing that all the Keynesian people that criticize John Maynard Keynes, you know, the founder of Keynesian economics, which is not entirely false, but it's certainly not entirely true and legitimate either. Again, when you become an adult and you become wiser, you realize that the world is not black and white. There's a lot of shades of gray in there and the shades of gray in the idea between Keynesian economics, which is prime, the pump, pump money into the system, government spending, blah, blah, blah, versus Hayek, for example, or Austrian economics or the opposite school of economics here, which would say stay out of it, let the market do everything, the government shouldn't interfere. You know, that's more valid than Keynesian economics. But neither of them are completely true or false. So back to this email I got from one of our prior show guests. One of the points he makes is about the necessity of central banks during war time. And right now we're essentially in a war, the entire world is in a war to beat the unseen enemy, the virus. Here he's arguing that central banks are indispensable and they're a good thing because of course they can centrally plan, they can pump money into the system, they can provide relief. Well, okay, in our current environment, you're right. But the question is, what's the question compared to what? That's the question. Well, what if we didn't have central banks? What if we had honest money? And I'm not saying we should be on a gold standard because hey, that's never going to happen. And it wouldn't work today anyway because the world is filled with derivatives. And I don't mean derivatives in the typical financial sense. I mean that everything's a derivative. Okay, Yesterday I was telling one of my friends that I was having an orange. I cut up this big orange because, you know, you gotta get a lot of vitamin C and strengthen your immune system right now. And I like eating oranges. Why do I like eating oranges? To get my vitamin C. Because I do not like derivatives. And orange juice is a derivative. An orange juice is a scam. Oh my God. If you're a new listener, you're probably thinking, this host is really weird. What is he talking about? Orange juice is a scam. Yeah, it actually is. Want to hear more? Tangent alert. Okay, so Nassim Nicholas Taleb, brilliant author of the Black Swan and Skin in the Game. I highly recommend Skin in the Game. Excellent book. Excellent book. Skin in the Game. Nassim Nicholas Taleb, brilliant. Or is it Nicholas Nassim Taleb? I don't know. Might be getting that backwards, but you get the idea. Taleb. Anyway, his books are awesome. He's super bright. And in one of his books, I'm not sure which one, he talks about orange juice and how orange juice was basically an invention of farmers who had extra oranges one season, you know, like 100 years ago or something, and they had to get rid of their oranges. And. And you know, someone came up with a brilliant idea and an ad agency got in on it and they thought, well, let's just squeeze the oranges and put them in a cup and we'll have orange juice and we'll market that and sell lots more oranges. Listen, orange juice is a total scam. You should not drink it. In fact, a lot of these juice drinks are total scams because they're full of sugar. Okay? And here's the deal from a non expert. I'm a total layperson, so all of you experts can go to jasonhartman.com/ask and tell me if I'm wrong about anything. But when you eat an orange, you have a bunch of fiber, and that fiber, yes, the orange has sugar in it. Sure. Or any fruit you eat that, and the fiber slows the absorption of the sugar. But if you drink orange juice, you miss a lot of that fiber and the sugar just goes in your bloodstream and you get diabetes and you die and it's no fun. So don't drink orange juice. It's a scam. Okay.

Now Taleb did not say all that. I expanded on the idea. But what he did say that I thought was pretty brilliant. He says that he doesn't eat or drink anything that people haven't been eating or drinking for at least a thousand years. Interesting idea, huh? Just ponder that one for a while. That was interesting. But yeah, central banks compared to what? Okay, if we didn't have central banks, then we would have a much more honest system. And if we had an honest system, we wouldn't have all of this financialization and financial engineering because people would actually save money. Like, you know, as I've talked about the disgusting American Airlines, right, who spent all their money during the good times, during the feast times. They spent it on stock buybacks and big bonuses for their crooked Executives and they doled out, had their hand in the cookie jar. And I'm not really picking on them because a whole bunch of companies did this. Sorry, American Airlines, I just happen to hate you, particularly because, well, you've stranded me a lot on flights and anytime I can possibly avoid flying your airline, I avoid you because I can't stand you because you've really screwed me over a lot of times. So now they didn't bother to save any money, so they got to come to a government for bailout after, what, 16 days into the crisis? Ridiculous. That's the problem. See, you wouldn't need the central banks to bail everybody out if you had an honest system. We don't have one and nobody in the world really has one. So we have central banks. And so, yes, in the sense they are indispensable now. But compared to what? Compared to a whole nother system where, where money was honest, we didn't have a bunch of bogus financialization, then we wouldn't need them at all. Okay, I'll get off that tangent. We gotta talk about some other things. So, hey, I want to thank you for your nice reviews. Many of you got our email or text message asking for a review. So thank you to all of you who did that. We really appreciate it. Lots of great reviews. It just warms my heart to see all those nice reviews. And hey, that's what keeps us going. You know, I'm just doing this for a hobby, okay? I don't need to work. I haven't needed to work for many, many years. I could retire and quit and. But then again, that's not healthy. So even if you have the cash to retire, don't retire. It's not good for you. Not good for you. And well, hey, that's why I'm working. But this really keeps me going, this kind of stuff. And then this morning I was notified of a couple new reviews on itunes for the podcast and I got two five star reviews here. Super informative in just one episode. I have always thought that real estate investing wasn't for me until I found this podcast. This podcast provides so much valuable information and makes it feel achievable. Thank you and looking forward to continuing to listen more. That's from Joshua Reyes. Thank you, Joshua. Appreciate that. And then here's another one. Five stars, most valuable investing podcast ever. Wow. Jason is giving away thousands of dollars worth in investing techniques and his guests are among the top in the world in investing. I feel like I am getting a free college course on investing. I am Hooked. Go ahead and subscribe. You do not want to miss one show. Hey, thank you very much for the nice reviews. Please go and review us. I know a lot of you write reviews and we don't get to mention them on the podcast, but we do read all of them and we thank you for them even if we didn't mention it on the podcast. So thank you for your reviews and please keep on writing them. We appreciate it. Okay, so we are moving toward one of the benefits of this crisis. Remember, every crisis has an opportunity. There's a flip side of every coin, heads and tails, right? And as the Chinese say, crisis is an opportunity riding the dangerous wind. Crisis is an opportunity riding the dangerous wind. So one of the opportunities is that creative destruction happens faster. People are pushed into accelerating their tech adoption and boy, they're doing it. You've seen all sorts of examples. I'm just going to share with you one more of those examples right now, and that is the move toward a more frictionless, a more frictionless real estate transaction when it comes to tenants especially. What does this mean to you as a real estate investor? It means your properties will be exposed to a larger pool of tenants. They can be leased faster and they can be leased more easily. And if you self manage, this is a boon for you because less time involved in self managing. But if you have a property manager, this is a boon for them. And ultimately, although many times too slowly, it will put downward pressure on the prices they charge you because more of their business is automated. And as more automation happens, remember technology is very deflationary, then there will be the market will put downward pressure on their prices. So if they have and what I'm going to talk about, by the way, just so it's not a big mystery, is automated showings. And so if they have more virtual and automated showings, by the way, there is a difference between those two. I'll explain in a moment. Then their job is easier and they can lease more properties. And undoubtedly what will happen, there's always a hole in the dam. There's always one or two players in the marketplace that will reduce prices. And when they reduce prices because they think, and it's usually a new entrant, a new entrant, a startup you in the marketplace. And this is why Wall street is so disgusting and corrupt, because it has almost no startup culture at all. And the big disgusting players, Goldman Sachs, they just keep ripping everybody off and screwing the entire world. Hey, you know the saying, right? Have a gun, rob a bank, have a bank, rob the world. Okay, there you go. And that bank could be an investment bank. Not just a regular bank as you think of it, like the other disgusting criminal organization banks out there. You all know their names. Oh, wait, Wells Fargo scandal every month. Chase, you've had your scandals. B of A, you've had yours too. No one is innocent here, okay? Anyway, so there's always one or two entrants out there. Usually a startup that will do price cutting because they're using the technology and they figure, hey, we can offer this cheaper. And now all of the business goes to them because it's a better deal, better service, better price. And then the old guard has to lower their prices too, to compete. Hey, free market capitalism, what a concept. Don't you love it? Yeah, it's really efficient. By the way, another comment on efficiency before I get to this frictionless subject here a little more. I am meeting in my mastermind groups, the ones I'm a member of, and different online courses and so forth. We're meeting online, you know, meeting virtually since the quarantines began. And I gotta tell you, it is amazing how powerful free market capitalism is. You know, yesterday I was on an online meeting and I don't know, there were maybe 40 some odd people in this meeting. And I'm looking at all of them on the screen and listening to them talk. And I'm chiming in, I'm kind of quiet and passive, so I never say much. Yeah, right, Compared to what? Okay, and I'm chiming in on a few things, but I'm just listen to them and I'm thinking, all these people are here just brainstorming ideas to meet the needs of the consumer, to meet the needs of the marketplace. How can I do it better? How can I do it faster? How can I offer that for less money? It's amazing. Can you imagine what it's like when you have a big socialist government or God forbid, the ugly big brother communist government? Okay, it would be a bunch of bureaucrats in the cognoscente sitting around a table in the lap of luxury. Maybe it'd be Vladimir Putin and his cronies and they'd be sitting around, well, let me see, there's a food shortage, okay, yeah, send some trucks of food over there, you know, some awful, disgusting food. Oh, and these people in St. Petersburg, they need shoes. And then, yeah, in Moscow there's some power outages, so we got to handle that. I mean, just like no one's at stake, no one cares. Or God forbid, government, health care. Yeah, think about that. Okay, so here we go. So frictionless real estate and what it means to investors. So this article by Julia Falcon says more home shoppers are willing to buy without seeing the property first. Would you buy a home sight unseen? Well, you know, for 16 years I've been helping investors do this nationwide. But when it's your own home, you care a little more about seeing it. Right? When it's an investment property, it's all about the numbers and you don't care too much about seeing it. You got a lot of online tools to go and look and check out the neighborhood and drive down the street virtually and look at the satellite images and so on and so forth, right? So now that we've got this crisis, Redfin has announced these non accompanied showings. So you don't have to meet the realtor and you don't have to shake the realtor's hand. By the way, I'm joking. That real word is realtor. Realitator. I like to call them realitators. You know, they're out busy relatating. Okay, so Zillow had a 191% increase in the creation. So the supply side of 3D home tours, okay, Redfin saw a 94 fold increase in video and chat tour requests. All right, and this is all because, hey, people don't want to shake the realtor's hand anymore, right? And they want to be able to do things remotely more quickly and with less friction. This is a big deal, folks. It's a great thing for you because you are going to see a marketplace with less and less friction. Again, if you have a property manager, larger pool of tenants, prospective tenants, when you sell your properties, eventually larger pool of buyers, more people seeing them more easily and downward pressure on prices for property managers and realtors. And so what? I'm not saying any of them will make less money. I'm saying their business becomes more efficient and they can do more business. So they increase their volume and their efficiency, but they make a little less on every deal. And that's the trend. That's where it's going. A lot less friction in the marketplace and that's going to be great. Okay, one more thing before we wrap up today. And I want to go back to that video where I talked about Kevin and the MMT thing because I didn't really finish that, you know me, stream of consciousness, baby. That's where we are. Stream of consciousness. We don't always do it this way, but you know, sometimes we do. Okay, so the thing about this idea that was being promoted in the video. It's like a new economy. And the idea that government spending and pumping all this money and the stimulus, trillions and trillions of dollars, doesn't cause inflation. It's partially true and partially false. So here was my comment to my friend Ryan, okay? He is partially right and partially wrong at the same time. He wants to believe in the fantasy that we can spend irresponsibly without any consequences. What he fails to mention is the war of opposing forces. Deflationary technology and globalization versus inflationary bad fiscal and monetary policy. Nobody knows which one will win the inflation deflation war. There's just too much to cover here. But I will discuss the specific on my podcast. Oh, hey, wait, I'm doing that now. Here's the thing. In the US it's different than any other economy around the world. Why? Because of those 18 aircraft carriers and the reserve currency status. And the aircraft carriers will keep the reserve currency status for as long as possible because everything ends up at the point of gun. That's the way the world works. Sorry if you don't like it. I know, flower children of the 60s, you don't like me saying that, but guess what? It's reality. I didn't say it was pretty. I didn't say I agreed with it. It just is. And I'm going to recognize it. So peace, love, and. Yeah, let's go to Woodstock. By the way, you must watch a movie or documentary about Woodstock. You know, that famous concert that happened in the late 60s? Or was it the early 70s? I think late 60s, I think it was 69. Right. Summer of 69. Right. Bryan Adams wrote a song about it. Anyway, whatever. But very interesting time, for sure. So that's the deal. And the US is in its own system that differs from every other economy where it can spend irresponsibly and have some consequences, but not as much consequence as it should. So on both sides of the spectrum, people get it wrong. You get all the Peter Schiff types and the gold bugs and the survivalists and the preppers and the people that say this is irresponsible, we're going to have massive inflation. Our children are going to be burdened with all this debt. And they are partially right, but not completely right for many reasons. One, because they only look at the math. And if you just looked at the math, they would be right. But they don't look at the fact that the US has its own special system that is the bully pulpit that other countries don't get to have. We. When you have the reserve currency and you have the biggest economy and you have the biggest brand, meaning the America brand, which is a big deal, not to be underestimated. I've talked about it before. If you don't know what I'm talking about, listen to the old podcast. It's there. Yeah, I promise it's there. And it has the biggest military, of course, to keep all of this stuff the way it wants to. And so America gets the special privilege of being more irresponsible than other countries, okay? Because it can basically force its crappy debt instruments on other countries. It's not fair. I don't agree with it, but it is that way. And I'm going to recognize it. That's our point. And I'm going to align my financial interest with this system. Don't like the system, but that's the system. So play within the system and then you get the other side of the coin. That's like the millennials and the liberals and the MMT Modern Monetary Theory people and the Bernie Sanders people. And these people think you can just spend, spend, spend and there's no consequences and everything will be just fine. Well, here's the reality. Peter Schiff is wrong and that camp is wrong and so is everybody on the MMT be irresponsible side. They're both wrong. The real reality is somewhere in the middle. But what's going to determine that reality is not usually any of the stuff these people are saying on either side of the debate. What's going to determine that is the war between the two opposing forces, the deflationary pressures caused by technology and globalization. Now, guess what? Technology keeps improving, but globalization is contracting. Post coronavirus world. Less globalization, more on shoring of production, of manufacturing, which, by the way, is great for the American worker. If you're listening to this in the U.S. i know we got listeners in 189 countries, okay? But if you're listening in the U.S. you know, this is great for the American worker. This is the Trump agenda, okay? And he's going to get it. And by the way, we need to talk about this in the future. There's a lot of talk that Trump is secretly destroying the Federal Reserve and this is all part of a big macro plan, which is very, very interesting. And maybe it's a conspiracy theory. Get your tinfoil hat out. Or maybe it's just true. Okay, people gotta stop debunking conspiracy theories. Some of them are quite accurate and some are kooky. They're both. The truth is in the middle somewhere. Right? Okay, so the war between inflation or deflationary technology and globalization. Globalization shrinking, that means more inflationary pressure, less deflationary pressure, and borders going up. You know, on the southern border, for example, in a coronavirus world, immigration will be stemmed significantly. Okay, so that means inflationary pressure inside the U.S. right, because the deflationary forces aren't as big as they used to be. Okay, only technology is as big. But globalization and open borders not as big versus the inflationary concepts of bad fiscal and monetary policy. Spend, spend, spend, without any thought of the effects. So there you go. Hey folks, that's enough for today. So I guess the moral of the story today is don't buy Dove soap. Don't drink orange juice. Align your interests with the most powerful forces that the world has ever known. Look forward to frictionless real estate, leasing and sales because it's getting less friction. And don't believe everything you read with these silly smart people that think they understand it, that never ask the important question compared to what? Until tomorrow. Happy investing.

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