This was a week where decades happen folks. Not everything is relevant to running and funding a small business but without being overly dramatic, much of what has transpired in just the last few days will PROFOUNDLY affect every aspect of our business and personal lives from now on.
Where to start?
* Russia Attacks Ukraine - The possible domino effects are too many to cover but just think about how much your businesses profit margin depends on the price of energy. Furthermore, if you think international shipping lanes were bad before well, just wait! Anyone who depends on supplies from overseas will be affected.
* Canada declares, then un-declares emergency - After brutalizing the peaceful truckers who were protesting job-killing mandates, the Canadian government proceeded to freeze bank accounts and crypto wallets for regular folks who had simply donated as little as $10 to the truck convoy. The only thing they managed to "freeze" was the entire Canadian banking system as people literally RAN to banks to withdraw their money.
Because nothing says confidence in the banking system like: "we can take all your money if we don't like you"!
* US Truckers Convoy now headed to Washington DC - This should be fun. Just the idea of 90,000 trucks converging in one small area in DC smells like lighter fluid.
* Inflation hits 40-year high - This particular problem has been with us for a while, many readers will remember (hopefully) when I warned everyone that the official line of price increases being "transitory" was BS. Now everyone is on board that it's all because of covid - BS again. Price increases are here to stay and now with everything going on they stand to get way worse - Use capital now to buy up what you can, it will be worth more than the rate you pay fosho.
I could go on but then what would I write about on Thursday? lol!
Finally, one particular issue that has also been my pet peeve was about the SBA PPP loans - turns out the vast majority went to companies who needed it the least, I'm Shocked!!
“the looser rules meant the Paycheck Protection Program ended up subsidizing business owners more than their workers” and reported that “for every $1 in wages that [the PPP program] prevented from being lost, it handed out $3.13 that went somewhere else”.
As the week progresses I pray things go back to being boring for a while.
Call if there are urgent expenses or opportunities that require immediate capital call me for a quote. Having capital on hand now is critical to compete in this environment and the cost is affordable (still). The last time inflation was this high the Prime Rate was 11.5%!!