metals. My suspicion is that both the good money and the easy money in the near term will be made in precious metals. The next part of what I'm going to say is, for me, much more speculative, which is to say that I believe that COVID or no COVID, we were due for an unwinding of the economic recovery that we had enjoyed from 2009 to 2019. While I'm not an economist, a 10-year long economic recovery is, in my experience, one that's very long of tooth, particularly if you believe like me that that recovery was more due to artificial stimulus and artificial low interest rates than it was to an increase in productivity, an increase in trade or an increase in individual wealth. The combination of an unwinding of a decade of recovery punctuated by the global economic slowdown engendered by the virus, I think means that we are going to have a period of a softer economy. That isn't to say that we might not have an equities bull market. There seems to be a disconnect between Wall Street and Main (12/45)
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