All the economic predictions in one place
Todd Polke compiles 2023 economic forecasts from banks and experts like Buffett, Dalio, and Musk, breaking down recession risk, inflation, and outlooks for real estate, metals, crypto, and stocks by region. He argues that understanding what the crowd fears lets you act opposite and build financial sovereignty insulated from macro turbulence.
Chapters
for you guys today, like a super fun topic. What my team went and did was that they went and did some research around all the different so-called market experts and bank predictions and all the different things, and they compiled a whole lot of it into one document for you, right? And I'll tell you the reason that this is really valuable and this is really important in just a moment. But, um, we compiled it all into one valuable document for you, which is talking about what all the experts are predicting for what's going to be coming up with 2023. So that's what we're going to be chatting about today. I'm going to talk through some of these and give you some of my thoughts around that, and honestly, probably a little bit more of a pathway how you need to be reacting and, and responding to some of these as well. Now, before I get into that, uh, let me know that you guys can hear me okay. Let me know that you guys can see me okay. First and foremost, I just want to make sure all the tech stuff is working beautifully and we are all good to go with, um, with all that gorgeousness, rather than me kind of starting to talk and, uh, and then nothing comes out. Because I've certainly done that before, no doubt about it. So put in the comments, let me know you can see me okay, let me know you can, um, hear me okay. And so we are good to rock and roll, um, for, uh, today's, uh, live, where again we're gonna be talking about all the economic predictions in one place and what you need to be doing about it. Now, we turn this into a PDF for you, uh, so that you, uh, have it there. You can download it, right? If you have not got a copy of that as yet, put in the comments for me, just type in the word prediction, and, um, my team will make sure they get it out to you. Okay, so we put this all in one place, uh, so you can get a— there's a full rundown of all the different predictions that are happening for 2023 from banks, from governments, from so-called experts, of all the different people. So if you haven't got it, type in the word prediction, my team will get it out to you to make sure you have that in front of you right now. Now, so let's dive into it, team. So there is obviously, there's a lot going on in the world right now, right? With a lot of fear in the economy, There is a lot of uncertainty which is going on at the moment. Like, you got the war over in Russia and Ukraine. We've just come out of the COVID nonsense, you know, kind of early to mid last year. Like, there's been a lot that, you know, the interest rates have gone up, inflations are at, you know, massive, massive highs right now. There is a lot which is going on in the world at this point in time, right? And the question is that we really have to understand is how do we respond to it? Now, when I look at it, it was quite an interesting experience, right? Putting out, putting this out with, uh, going, hey, we've done some research, we've gotten all the predictions from all the people around what they expect is going to happen. And I got a fair bit of backlash, I got to tell you. Like, I got a bunch of people messaging me and commenting and going, why would we want to listen to any of them, any of these global leaders and, and pedophiles and this and that, and we make our own destiny and all these different type of stuff. And, um, do you know what, like, I agree, right? I don't believe that we should listen to anyone's prediction and just follow that. We need to actually understand what's going on and then make our own pathway. But what's really useful about this as an investor, as someone who operates within an economic society whether you're in business, whether you're growing your wealth, whether you're investing, whether you have a job, whether— whatever way, shape, or form you choose to interact in society, understanding what the mass market is doing and what they are thinking is incredibly valuable information. Incredibly valuable. Because most movements in the marketplace, whether it's real estate, whether it's economics, whether it's interest rates, whether it's a share market, whether it's business, a lot of it is driven by consumer sentiment. And when we can understand the sentiment and the trends that is going on in the majority of the population's mind and, and the, the popular vote and the popular understanding, we can then choose how we want to respond to that. So when we start thinking about that, right, if everyone thinks the world is going to collapse and it's all going to be doom and gloom Then what a lot of people are going to do is that they're going to run for shelter. They're going to pull the proverbial doona over their head and hide out and think that it, you know, just hope that everything's going to work out okay. That is the time when you go shopping to get investments, right? Because everything's going to be on sale when everyone else isn't able to get con— you know, isn't going out and buying assets because they can't get leverage and lending and don't want to do it because they believe it's too expensive. Your ability to be able to go and access lending and leverage at that point in time, as long as you can manage the cash flow and be able to secure assets at discounts by tapping into enormous buying power, can do more to grow your wealth than almost anything else. You can choose to be— go with the popular understanding what's going on. You can choose to be contrarian. That knowledge around what the mass market is thinking is incredibly valuable for you In terms of the decisions that you make on an ongoing basis, and especially how you choose to interact in this period of time. Okay, so that's really, really important. I'm going to say one more thing, is that everything I'm going to say to you, a lot of it paints a pretty gloomy picture. Not surprisingly, right? Not surprisingly, we know what is kind of going on at the moment, right? Again, with inflation, with interest rates, with you know, the talk of the real estate market and the share market and crypto market. Like, we know what is going on at the moment. However, when we— again, when we can understand that, right, we can make decisions in how we create our own economy. One of the big things I want to say to you about all of this is that you want to set yourself up where you start creating your own economy. So what that means to me is that no matter what comes your way in the future, No matter what dumb shit the government tends to do next or political things that's going on or egos, big, big, you know, people with a lot of egos fighting wars or the interest rates doing this or inflation doing this, what you want to make sure is that you and your family and the people you love and care about are safe so that no matter what— and thriving. So no matter what comes your way in the future, that you are safe and that you are protected. And that's what I mean by creating your own economy. So there's all this noise, all this stuff that's going on, and a lot of it is outside of your control. What we as individuals need to come back to do is go, what can we control in our internal environment, in our internal finances, our investment portfolios, and how we operate, where we can be fully in control of that as much as we possibly can and create our own economy? Okay, so despite everything I'm going to talk to you about, the big thing that you've got to ask yourself the question around is, how am I going to actually bring that into my own locus of control? And how am I going to use this information to benefit me and in terms of creating my own economy? So that's what we want to talk about. Now, all that being said and done, um, I'm gonna go share my screen and just show you some of these that I'm talking about. Now, uh, hopefully you can see this okay. Can you let me know if you can read this okay on your screen? Just let me know in the chat very quickly. Let me know that you can read this okay. There's a bit of delay between me asking and people answering. Let me know that you can read this okay. Okay, it looks like it's just popped on everyone's screen just now. So I have broken this up into a few different sections, right? Section number one is all about understanding the government and organizational projections. Section number two is about, let's say, the World Economic Forum. Then we have a bit of a look at the macroeconomic factors. Then we come and have a look at some asset classes, and so what's tipped to the different asset classes are expected to do. And then let's have a look at what the experts are kind of suggesting. Some of the experts and some just very prominent people that you will know. That people will be listening. Again, if you don't have a copy of this document but you'd like it, just type in the word prediction and my team will get it out to you. So when we first started it— now some of this is Australia-based, some of this is globally, and I've targeted some different countries to give a bit of an understanding of what's going on in different areas as well, right? So when we talk about this, um, in terms of like business, now, um, JP Morgan suggested that in terms of business across Australia, they predicted that revenue was going to increase. Now that's not that crazy to think about when we've just come off the whole COVID situation and things like that, where the economy has kind of opened up, borders have opened up, trade has started to open up. It would make a lot of sense that businesses have the opportunity to do a lot better in this type of environment, but it's all going to depend on consumer confidence and inflation figures and people's spending power at the same time. So they believe that profits are going to increase and they expect to hire new personnel. So they look like they're going to be in an expansion phase. Now interestingly enough, at the same time, they're talking about that 46% believe a recession might be likely in 2023, that we will have a rise in inflation, and 40% claim supply pressures have actually worsened. So while they're predicting that revenue is looking to increase, they're also suggesting that there's a risk of going into recession. Now this is below 50% focused on Australia. Now if you have a look at some of the other countries, it's a lot higher. And so we need to understand that. And so this is why we need to be careful about who we listen to and what they're actually speaking about, because there's a lot of conversation and noise talking about recessions at the moment. But does that necessarily mean that Australia participates in the same recession that a US or a Europe or a UK may participate in? And the answer is absolutely not, right? There's a different marketplace with different fundamentals around what is happening. Now, when we talk about the World Economic Forum, so their global consensus among chief economists tends towards a global recession 2023 with weak economic growth, growth, mass company layoffs, and lingering war in Ukraine at the heart of issue. However, food, energy inflationary pressures started to show signs of letting up. Now we'll talk about that in just a moment, but what they're expecting is that weak economic growth in, in United States and Europe, but East Asia and Pacific seems to be in a lot better situation, and that inflation they're not predicting is going to be as high or remain as high. So Different areas and different locations are going to have different experiences in how they experience this next period of time. Now, I personally think that the level of debt is a massive issue in a lot of global economies right now. I was listening to something the other day, right? If you have a look at the current US debt, the current US debt, like it is crazy. I'm just pulling up a calculator on it right now, if my internet would hurry up. So current US debt is $31 trillion. Is that what the number is? I don't know. $31 trillion, right? And the, the interest cost on that is $15 trillion a year. $15 trillion a year just to pay the interest on it. And so, um, that was interesting that one of the predictions down here were from Ray Dalio, expects US debt to hit $31.4 trillion cap. Um, okay, now it's actually above this already. This is obviously a little bit old. And a risk of a default by June. A debt default or non-payment could trigger recession. However, the problem is they keep raising the debt ceiling, which is why we're seeing this weakening in the economic growth. Um, in the, in the US dollar as the global kind of currency. Now, at the same time, yeah, I was listening to a podcast, literally just went on a walk. I just got back from overseas, was on a walk listening to this podcast called the All In Podcast with, um, Chamath and Jason Kalkanis and a few others. And it's great, like, these guys are amazing in what they do. And so, um, you know, what they were, uh, talking about is The fact around this debt situation and what's going on, and that if they're going to be able to keep just raising the debt ceiling anyway, and it's just this never-ending kind of kicking the can down the road. However, they do feel that US will tip into a recession in this year as well, if they're not already there, based on some lagging kind of data they're looking at. So the debt situation is a huge, huge problem with what's kind of happening. Now if we keep going down and have a bit of a look, so we have a look at Australia in terms of inflation. Now, um, this is slightly outdated. The Reserve Bank of Australia is expecting inflation to have finally peaked at around 7.75% towards the end of 2022. Now, um, inflation figures came out at 7.8%, so it was actually higher than that in the, in the December, uh, final December quarter, right? 7.8%. But only just higher. Now what they're suggesting around this is that we should see that we're probably going to be peaking at around this type of level. We most people that I speak to and I agree with this is that the interest rate ceiling is that we probably hit close to our top. There may be one or two other kind of increases are going to happen, but I feel that the interest rates are at the kind of peak level right now, and as long as inflation starts to drop. We may see interest rates start to drop. I don't think they're going to drop much this year, that's for sure, in 2023. But by 2024, we may see some of those interest rates start to drop down. Okay, now what's interesting around that is that you think about the real estate market in Australia. So if you look at the real estate market in Australia, it's calmed down. It was going crazy during the whole COVID situation that was going on. But since then, it has kind of calmed down right now. The reason it has calmed down is that number one, it was just going bananas. It wasn't sustainable for it to keep going. But because of loans, the interest cost of money started to go up dramatically. The world of cheap money wasn't around anymore, and so less and less people were buying or could afford to have loans now. If we start to see interest rates start to drop again, what do you think that could do in the next couple of years? Put in the chat for me. Let me know. And what other factors behind the real estate marketplace are there? Because you know when we started to see interest rates start to rise, a lot of people are coming out. Oh, we're going to see this massive, massive crash in the Australian property market and bubble this and bubble that, and and the whole media circus started all over again talking about this huge crash. The question you've really got to ask: Have we actually seen a massive crash in the real estate market in Australia? Right? Have we seen that based on what everyone, like you know, media was saying and and all things going down? And the answer is absolutely not. Definitely not. We have seen a marketplace start to calm down because the cost of money is so high. But we haven't seen just huge drop-offs and things like that, like some people were— some media companies were kind of sprouting to get eyeballs on what they're looking at. So I want you to think about this as we start to drop off, as if— as we— if we do have in fact hit an inflation peak and it starts to calm down a little bit, right? And then we start to see some interest rates drop. Think about what they might act— that might actually start to do with consent around the Australian property market and how it might actually start driving growth again. Because the other thing that's underpinning the Australian property market, and this one of the things that was in this, um, that was been speaking about in this, is that when we get down the real estate market, uh, yeah, well, okay, all right, so it's sitting right here. Okay, got it right there. Signifying, um, housing prices across capital cities start to rise by 2024. But one of the big things is that They spoke about this in the US, but this is very, very true in Australia as well. This massive undersupply in housing is very prevalent in Australia, very prevalent in Australia. And it's been one of the underpinnings behind the Australian property market because we are drastically behind in terms of supply. And now that the borders have opened up, what we're looking at is that, you know, a million new people are immigrating to Australia in the next 5 years alone. And with the government's new policy around a bigger Australia, increased skilled labor, that is absolutely huge. Okay. So in that people need somewhere to live. So here's where the way I think about it, when I look at the Australian property market, I'm sitting there going, okay, well, what an interesting time to buy when no one else is in the marketplace. I've just secured a deal. I've got it under contract at the moment. I'm doing financing on it at this point in time. But I picked it up, great deal, probably $600,000 easy minimum below current valuation. Because of the size of the deal it was, because of the cost of money that a lot of other people can't afford to get involved in it. We've been able to secure a very, very solid deal that in a stronger marketplace probably would have sold for— well, let me put it this way. It was on the market for over $1 million more than what they've got on the marketplace right now. About 9 months ago, right? And so there's some really cool opportunities to secure some good real estate at quite solid pricing at this point in time, then ride this next period of time and then wait for interest rates start to drop back down again and this population growth to kick in at another level and this fear in the marketplace start to drop down and you're in well early for the growth in the next kind of property cycle. So I'm very, very interested about that. So the Treasury headed by Jim Chalmers expects interest rate declines for 2023 as long as inflation continues to track down to 5.5% by mid-'23 and eventually hit 3.5% by end of 2023. Okay, so I mean, he's expecting quite drastic drops. I don't think they're going to drop that fast. I think more 2024 we'll start to see more drops in the interest rate cycles and inflation will start to really drop back down. So they They believe that the Reserve Bank has done their job by increasing the interest, the cash rate, and it's kind of broken the back of inflation. And the level of inflation we're experiencing now is 7.8% is just the lag. So there's always a lag between some policy changing and consumer, the consumer behavior to actually change. And so we're starting to see that the people's belts are starting to tighten around their cash flow right now. And that's where we're seeing some things start to drop off. And so there's a bit of a lag between an action happening and the, the result actually occurring in people's pockets. Now, um, in the USA, uh, personal consumption expenditures along with consumer price index have both been above target goals of 2% since April '21, with CPI peaking in June above 9%. Now they're expecting core inflation figures to fall around 3.1% next year, although getting close to 2% target could take until 2025. I don't know about that. Um, just looking at the inflation figures in the USA. So these are interesting things that we want to have a bit of a look at, right? So, uh, inflation was up at 8.5%, but that is the reported inflation. Yeah, wow, okay, so 6.5%. For the 12 months, what is it right now? But that's reported inflation. Yeah, well, okay, so they're suggesting that inflation has actually dropped off down to kind of 6.5% in around December. Um, I actually thought it was a lot higher than that, and I'm actually surprised that it is being reported at that level. I really am. I thought it was a lot higher than that. Um, one of the, uh, big— as I said, I was listening to a podcast by All In and, um, Chamath, who is— I think he's great. I think he's a good person to be listening to. He's one of the early, uh, people involved in Google and involved— sorry, Facebook. Facebook. Um, and, uh, you know, runs a, a hedge fund now. Um, sorry, a venture capital firm and does a lot of investments. He's very, very smart guy. But he was talking about that we're looking at the US to move into a recession if it's not already in one, and some a lot of uncertainty in that marketplace. Now, we've got global employment is projected to increase by only 1%. They're talking about the the the you Russia Russia Ukraine war is a big problem associated with that. What's interesting out of this as well is that they were talking about in this podcast about energy pricing around different areas and different types of energy which are going to perform. Talking about areas like South. Saudi Arabia, Arabia, Arabia, um, performing incredibly well because of their, um, relationships with the US, with China, and with Russia, and a few different— and able to kind of move in between those different things, which is interesting. But also liquid natural gas in, in the US being a big marketplace as well to be involved in. So, um, unemployment rate in Australia is very— is low, as you know, it's 3.4% unemployment rate. So it's quite low. Now let's talk about some of the asset classes. A lot of it's just noise. I'm just kind of, you know, talking about the 14.9% in healthcare. That's all great and things like that, um, but for a lot of people it's a little bit noise, and I want to talk about what this might mean to you more so. Now we've seen, uh, the price of real estate drop in Australia, so we're going to talk about some asset classes now. Uh, so price of real estate in Australia has been dropping. We know that it's attributed to the decline to reduce the borrowing power on behalf of buyers looking to enter the market because of high interest rates. However, reports on Australian housing indicates will begin to steadily rise again contingent on whether the Reserve Bank will be able to pause interest rate hikes and inflation continues to fall. So I, as I said, I expect us to see, you know, high interest rates for the next kind of 12 months and maybe we'll start to see some drops start to come down later this year sometime. But while everyone else is kind of running in fear, you know, not a bad time to be buying when we can actually pick up some reasonable deals in the marketplace. You know, Warren Buffett says, when others show fear, I show courage. When others show courage, I show fear. And it's not a bad time to be thinking about that type of philosophy in terms of your investing. The USA is saying that, uh, so their housing market has finally cooled off. Um, it's been going relatively strong, but the limited housing inventory is certainly supporting things. Um, yeah, the low housing inventory would certainly be supporting things. Gold and silver. So precious metals have underperformed recently. However, market conditions favor precious metals with declining inflation, low corporate profits, and a looming recession. So we've seen certain— uh, now I'm quite bullish on, uh, silver is one of the things I'm quite bullish on. I am just pulling up a pricing chart for silver. What I'm looking at over here. Let's have a look. Yeah, so, um, you know, uh, silver kind of dropped down to quite low levels. It bottomed out at around $18 in August of 2022, but then since then it's been on quite a reasonable rise, um, you know, up to $23.96. Uh, by, you know, kind of right now, you know, January 2023. So, um, I'm quite bullish on some metals. I don't believe in putting everything in metals. Uh, I think that you're just loading all your eggs in one basket and you don't earn an income from it. So I— but I think it's a good thing to have a bit of a hedge on. When we start talking about the cryptocurrency market, uh, obviously last year was not a fun time for cryptocurrency. In terms of market pricing. However, more recently we have literally just seen a pop-up, a pop-up in the, um, price of Bitcoin, especially in the last couple of weeks. We've seen that pop up quite dramatically. Again, I'm just pulling up a chart up in front of me as we speak. I'm just— I've got another screen over here, so I'm looking at it. And we've come off from a bottom in, um, you know, January of 2— well, 2023. It seems where we bottomed out, and we were sitting at around the $16,500 level at that point in time for this year, and we've already gone up to $23,000. So, you know, it's grown by, for one Bitcoin, $7,500 literally in the last month, right? And so whether do we maintain this level, a lot of people are much, a lot smarter than I am when it comes to the cryptocurrency world. Believe that we have broken the previous market structure, but we may actually have a bit of a pullback before we kind of move forward again. So not a bad time, I believe, to be accumulating, you know, some cryptocurrency. Obviously, certain cryptocurrencies in the marketplace, be conservative, make sure you play defensive positions as well. And, you know, there's good ways to earn some income in the cryptocurrency world while you're building out your buy and hold type of portfolio. Now, this is really interesting when it comes to industry experts. Again, if you're just joining me right now, If you— what we're talking about is the experts' predictions. And the reason why that's very valuable is that we can— when we can understand what the banks are saying, we can understand what the governments are saying, we can understand what the so-called experts are saying. When I say experts, people who have kind of a lot of sway in the marketplace. Some are certainly experts like Chamath and Charlie Munger and, and a few others. Jeff Bezos is just kind of big in the business world, but he's a very smart man at the same time. So when we start to understand these, we can just see how the mass market is choosing to respond to certain situations. Then we can make our own decisions around that, knowing what most people are doing. Do we want to follow the herd, or do we want to do the opposite and create our own economy? Right now, Jeff Bezos from Amazon expects a looming recession for 2023. I was listening to something interesting that— so as a business, just side note, as a business They've got their, uh, obviously the online business. They've got the Amazon Prime. They have— oh, what was the third leg of the business? Can't bloody remember. But like, they reckon they're heading into healthcare, right, is one of the biggest things they're going to be focusing on, which is kind of interesting. Um, so Jeff recommends preparing for the worst by delaying big purchases, stockpiling cash, minimizing exposure to the market. Things are slowing down. You're seeing layoffs in many, many sectors of the economy. Okay, so that's what he said. Now I wonder where, what date this particular one was. Actually, we can have a bit of look at this. This was date of this article was. Oh no, it's not telling me. Damn it. Um, so. Again, right? Look, yes, keeping some cash aside is a good thing, but I don't believe in just kind of sitting there stagnant, not doing anything, right? You want to look for where the opportunity is in this marketplace. Now, Chamath expects US stocks to rebound rapidly after the recent sell-off, with the tech-heavy Nasdaq down 5.5% as the Fed prepares to raise interest rates. Investing back in the market before the market fully rallies getting underway. Adding the big difference between now and even 10, 20, 30, 40, 50 years ago is how many computers and passive money is involved. How much is sitting on the sidelines, right? Interestingly enough, these were these guys were talking a lot about investing in in businesses again in early rounds, right? So that's another big thing that they were kind of chatting about. Now Charlie Munger says not to worry about inflation or other macroeconomic events when investing. for the long term. And you know what, I intend to agree with this in a big way. You have to remember that your wealth creation journey is a marathon. It's not a sprint, right? It's not about getting in and getting out. It's about choosing assets that you can actually buy at reasonable prices or with value that you want to hold for the longer term. Okay, so I'm a big, big believer in that. So when you're sitting there going, oh, you know, the property market this or interest rates are that, Like, I sit there and go, okay, yes, keeping some capital aside and monitoring the market, seeing what's going on. But if you see a deal that has good value, that you can see the long-term value behind it, and you can afford to do it and hold it for the cash flow, nothing wrong with doing that. Like, it's exactly why I'm doing the deal that I'm doing right now. It's a great deal. I'm getting it at a solid discount. I can afford to hold it for the cash flow side of it and things like that. and this type of deal, um, I, I can see multiple, uh, multitudes of growth coming out of it for the future. Now Elon Musk expects a recession to last until 2nd quarter '24, slammed the Fed's interest rate hikes as excessive and dangerous to the economy, recommends investors proceed cautiously, conserve cash, and avoid using borrowed money. Bubbles in the real estate market, the stock market, and bond market is a looming threat Recommends protecting your money's purchasing power by investing in silver and gold. He's also mentioned a lot about the cryptocurrency world as well. Warren Buffett and Jack Bogle expects lingering economic uncertainty while market fluctuations continue on into the new year. Recommends avoiding obsessing over the market's day-to-day swings. Adopt a long-term buy-and-hold strategy with solid companies that continue to grow year over year. Tony Robbins, a bleak economic winter. Recommends to survive, one must find opportunities in sectors poised for growth along with asymmetric Risk-reward scenarios where investors can maximize potential gains while minimizing risk factors. We've been told that to win big, we have to risk losing it all, but in reality, most successful investors are extremely cautious with their investments. So again, it's talking about that we are in a bit of an economic winter, potential recessions that are happening, but now's the time to be looking for markets that are going to perform well in this or to set yourself up for the future, right? The same as what Warren Buffett is saying, the same as what, um, Charlie Munger is saying. So this is all talking about, well, let's don't get caught up in the short-term ups and downs, focus on the long term and look for the opportunity in the market. Now Ray Dalio again, US debt hit $34.1 trillion market cap. Uh, he's got a great book talking about like the different, um, market cycles over centuries, so to speak, and that we're just going through another economic cycle right now and the rise and fall of different powers. Um, expect US debt to hit $31.4 trillion, uh, risk of a default by June. Debt default and non-payment could cause a recession. However, constantly extending the limit could also trigger a crisis by undermining global faith in US ability to pay back its debts. Um, we all know there is no real debt limit because what is called a debt limit never actually limits the debt, right? They keep popping up more and more and more. Um, what's interesting around some of the stuff which is going on in the global economy is, uh, the gold-backed currency that I understand that Russia and China are starting to put together to actually replace global currency. Um, so, uh, China is throwing its weight around and getting people to kind of pay in yuan as opposed to in US dollars, which may weaken the value of the US dollar as well. So it's interesting seeing this global kind of power struggle which is happening. So Now, there's kind of a lot in there, and what's best is that you take and you have a bit of a read of it and kind of make up your own decisions around it. Now, the big thing that you do want to focus on that is all around how are you going to respond, okay, that's a big thing that you want to focus on in and around that, right, so what is the global market thinking, what is most of population thinking, and how are you going to respond during this period of time while there is economic uncertainty, I know for me, I saw this in 2008, I made more wealth in the 2008 GFC than I did almost at any other time, and this is some of the opportunities which are sitting there right now. So you have to choose how you're going to play this game in this next kind of 1 or 2 odd years. Are you going to sit there, are you going to pull the doona over your head and just hope that everything is going to work out, or are you going to focus on maximizing opportunity right now and to create your own economy? Economy, right? Because the opportunities during this time are absolutely extraordinary. And you know what, in any case, one thing that everyone should have learned over the last couple of years with the governments doing what they've done with the COVID nonsense, with the privacy being infiltrated in many different ways, central bank digital currencies, the lockdowns, like the, the, all the different things that'd be happening, is that you have to create your own economy. What you want to set yourself up is that no matter what comes your way in the future is that you can navigate it, right? And that's— you don't want to be subject— your livelihood for you and your family, you do not want to be at the mercy of all these things outside of your control. That's why you've got to bring this locus of control back in your own personal life and create your own economy. It's one of the most important and valuable things that you need to be focusing on doing. And this is what I call this kind of financial sovereignty. Now, first and foremost, I'd love to hear what you think about all that, right? So when you start looking at all those predictions that are kind of laid out that everyone was talking about, what do you think is going to be happening in the next 12 months? What are some of the things that are on your mind? Like, put in the comments for me and let me know. I would love to know. Now, on another note, those of you who, um, are interested and you're sitting there going, okay, it was 2023, Right? I want to make the most of this year. Like, I want to get my money in order. I want to get my investing in order. I want to get my wealth in order. I think I see there's going to be opportunity in the next kind of one or two years, and I want to know how I can get take most advantage of it. I want to start creating my own economy. Like, I don't want anyone, no government, no bank, no no one telling me like how I should live my life or or doing taking certain actions which are going to impact me and my family. Like, if you're kind of at that point in your life where you go, do you know what? I want to start. Doing something different, I want to start playing the money game by a little bit different set of rules, then I have a free 5-day challenge coming up, right? It is going to be launching, I believe it's actually next week on the 6th of February. Is that next week? Yeah, it is. It's actually launched. I should know when this is, right? It's launching on the 6th of February, right? And so what I'm gonna be doing, it's a 5-day challenge. There's gonna be 3 sessions over those 5 days where I'm gonna be coming to you live We're going to be spending time together, um, each of those days to start helping you to understand how to map out your own strategy to maximize 2023 from a financial standpoint. Now, it doesn't cost you anything. There's no strings attached. If you want to come along and take control of your personal finance, your investment portfolio for 2023 and beyond, then this 5-day strategy challenge is, um, it's a place you're going want to be, right? A lot of people have done it before and they got a huge amount out of it. When we ran this last year, we had over 300 people involved at that point in time, and there'll be more involved this year as well. So if you want us to send you the details around that free challenge, just type in the word event into the comments and my team will get an invite over to you. And again, if you don't have this PDF I was running through, type in the word prediction and we'll get that out to you. So if you want the PDF, type in word prediction so we can send that to you. If you want an invite to the event and for us to send you the details, just type in the word event and we'll make sure we get the details out for you for that 5-day free wealth strategy challenge, which is going to be launching literally next week. So I'm looking forward to hearing what you guys think about all those predictions and what you believe is going to be happening in the marketplace. Pop in the comments for me and let me know your thoughts. I'm super curious. Other than that, team, I just got back from overseas. I'm— my body clock doesn't know what, where it is or what's going on right now. So I'm gonna be having a very easy night. I can tell you that right now. No worries. So we'll get that over to you. Not a problem at all. And everyone that wrote in with prediction, we'll make sure we get that to you. And if you want to come along to the event, and yet we'll get the event stuff to you as well. If you want to come along to the event, type along the, uh, type the word event and we'll make sure we get the details out. So, um, all right, thanks everyone. I will chat to you guys.
