“Right here, boys! Right here! Get your cake, pie, dill pickles, and ice cream! Eat all you can! Be a glutton! Stuff yourselves! It’s all free, boys! It’s all free! Hurry, hurry, hurry, hurry!”
– Pleasure Island voiceover, Walt Disney’s Pinocchio (1940)
Welcome To Pleasure Island!
Have you received your stimulus check yet? If so, how do you plan to use it?
Will you save it in your bank account, pay down debts, or settle a few bills? Maybe you’ll invest in Chinese stocks, cryptocurrencies, or digital NFTs.
Alternatively, you might consider splurging on a new iPhone, enjoying gourmet dinners, or booking a vacation to Cabo. What about refreshing your living room decor with a stylish rug, picking up a wood pellet grill, or investing in a 75-inch flat-screen TV paired with a sound bar?
The general consensus on how to spend this money significantly influences what we see happening in the economy, which can lead to deflation, asset price inflation, or consumer price inflation.
Billionaire and investment icon Warren Buffett suggests using your stimulus check to “pay off credit card debt.” His reasoning is practical and worthy of consideration: Continue reading
