Money For the Rest of Us Forests, Fakes, and the Fight for the Real
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Sep 10, 2025 Explore the intriguing balance between the physical and digital economy, from salmon sightings on Vancouver Island to the dynamics of timber investing. Discover how leisure time is spent between real-life experiences and digital distractions. Delve into the ethics of AI-generated advertising and why live events hold significant value in a world increasingly dominated by artificiality. Reflect on the importance of authenticity and genuine connections as we navigate this evolving landscape.
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Vancouver Island Forests And Long Time Horizons
- David Stein describes visiting Vancouver Island and seeing salmon, clams, and managed forests.
- He notes trees planted in 1950 and 75-year harvesting cycles that highlight long-term forestry planning.
Timber's Steady Long-Term Returns
- Timber investments have returned roughly 7–8% annually over 25–30 years according to Stein's review.
- Timber REITs like Weyerhaeuser show similar long-term performance despite short-term price swings.
Productivity Keeps Timber Prices Low
- Lumber price appreciation since 1979 averaged only about 1.5% annually, trailing inflation.
- Massive productivity gains in harvesting explain why real prices haven't risen with money supply growth.