Downside in Asset Prices Will Be Vicious, Damage To Span a Generation: Steven Wilkinson
Apr 18, 2023
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Steven Wilkinson, author of the Pitchfork Papers substack and business consultant, discusses the impending asset value re-evaluation impacting a generation's risk appetite. He shares insights on classical libertarian values, underlining the risks of over-leveraging and opportunities in value investments. The conversation covers strategies for wealth protection during economic turmoil and the importance of adaptability and embracing libertarian principles in today's societal challenges.
Prepare for a market correction by 2026, focus on owning productive assets for wealth preservation.
Stand up for libertarian principles like individual ownership and property rights to shape a better world.
Invest in gold at a discounted rate for affordability and productivity in future asset acquisitions.
Deep dives
The Significance of Cheap Credit and Real Estate Cycles
The podcast explores the importance of cheap credit in today's world, cautioning about its potential risks. It delves into the impact of the real estate cycle on the Western world, discussing 20-year cycles observed over the past 200 years. The emphasis is on understanding business cycles and maintaining healthy balance sheets to navigate through volatility successfully.
The Value of Classical Libertarian Values
The episode highlights the value of classical libertarian principles in today's society. It encourages individuals to stand up and vocalize their beliefs, focusing on principles like individual ownership, non-violence, and respecting property rights. By promoting these core libertarian values, individuals can set an example for a better world.
Insights on Business Cycles and Distressed Assets
The conversation with Sir Stephen Wilkinson provides insights into business cycles and strategies for handling distressed assets. Sir Stephen's expertise in restructuring distressed companies offers valuable perspectives on the dangers of over-reliance on cheap leverage. He predicts a significant market correction by the end of the current cycle in 2026, emphasizing the importance of preparing for wealth preservation through ownership of productive assets.
Value of Gold as a Productive Asset
When considering the role of gold in an investment portfolio, the podcast discusses the importance of buying gold at a discount. Buying gold at a lower price allows for increased affordability to own assets and offer goods more cheaply. This affordability can lead to acquiring market value and reintroducing productivity into assets during favorable times, emphasizing the protective value of gold for future productive endeavors.
Transition to Radical Libertarianism and First Principles
The podcast delves into a personal journey towards radical libertarianism amidst societal shifts towards more government interference. The speaker highlights how evolving societal norms and beliefs prompted a reevaluation of personal principles. Emphasizing the core tenets of libertarianism, including self-ownership, non-aggression, and property rights, the discussion underscores current threats to these principles. The importance of sovereignty and accountability in shaping individual perspectives on societal organization is highlighted, advocating for a focus on leading by example and aligning personal beliefs with actions.
Author of the Pitchfork Papers substack and Business Consultant Sir Steven Wilkinson sees an unprecedented re-evaluation of asset values that will scare an entire generation away from risk assets for the foreseeable future. Steven also discusses his transformation from quiet conservative to radical libertarian and why wanting to just be left alone may become more dangerous in our current political climate.