Everybody is feeling the pain of rising prices, and if they're smart, they're learning that all this government extravagance eventually has its costs.
On inflation, the political class is flat-out embarrassing. We have Bernie Sanders, who blames (what else?) “corporate greed.” He doesn’t pause to wonder why price inflation slows down or speeds up; are we supposed to believe that wicked businessmen arbitrarily waver in their greed?
Then we have the establishment Democrats, who pretend some extra spending, coupled with barking commands at producers, ought to do the trick.
We do have a handful of Republicans who have made the connection between price inflation and the Federal Reserve System, and that’s certainly progress, but many in the GOP are equally in the dark as to what really causes it.
Allow me, then, to introduce you to the great Larry Lepard, who’s twice been a guest on the Tom Woods Show and who’s been a friend for 15 years.
I met Larry during the first Ron Paul GOP presidential campaign. You may remember him: he made a bit of a splash among the Paul grassroots when he spent $200,000 of his own money to run full-page ads in major newspapers in support of Dr. Paul.
Before long, I discovered that Larry – a brilliant, Harvard-educated guy (don’t hold that against him – he could teach the folks at Harvard a thing or two) – had an uncanny way with money. He founded Equity Management Associates in 2006, and he’s had a good track record of knowing where money should go during various sets of circumstances.
We’re certainly in what one might call a “set of circumstances” at this very moment.
In my School of Life program I always bring the best and the brightest, so I invited Larry (and his business partner David Foster) to give a presentation on contrarian investing – in effect, on what to do in order not to get steamrolled by the inflation machine.
What he says in there is so helpful and important that I’m doing something I haven’t done before: I’m taking his presentation out from behind the School of Life paywall and making it available to you for free.
Take the time to watch it. And don’t skip the Q&A period, because there’s lots of great information – including plenty of specifics – in there.
Thank goodness our side has people like Larry. It’s with the knowledge of people like him – a genuinely smart and insightful person, unlike the bozos who rule us – that will get us through this.