First, HAPPY 2023 to all. Or, here we go again.
Keeping things in perspective, there have been 2,023 new years going way back to zero (my point of reference). Some happy, some not so happy. Looking back, everyone by now should know if 2022 was a “happy” or “anti-happy” year. But it’s gone, let it go and look ahead.
Not that I remember year number 0001, but I’d bet there were a lot of forecasts and predictions that missed the mark even back then. Probably not too much different than last year’s (2,021 years later) predictions that were just flat wrong.
- Inflation wasn’t transitory.
- The Fed raised interest rates higher and faster then predicted.
- Bitcoin didn’t go to $250K (or higher).
- Financial markets went DOWN (gasp).
- Elon Musk didn’t get to Mars, but got Twitter.
You get the picture. NOBODY saw any of that (and more) coming.
Once again, keeping things in perspective, just because it’s a new year doesn’t mean that the “experts” (economists, academics, fund managers, media pundits, etc.) have gotten any smarter. Nobody (NOBODY) knows what this new year will bring. (Well not to brag, but I will predict 2023 will end on Dec. 31st. Follow me on Digital Wealth News for more insight like this). The first few days and weeks of any new year actually mean nothing in financial markets other than to provide time for analysts, “market gurus,” etc. to predict the future. Right!
A couple other things to keep in perspective and be thankful for as the new year gathers momentum are these. At least most people are not facing criminal charges and jail time like Sam Bankman-Fried (SBF) for imploding a well known crypto firm. Nor are most people sweating their jobs like football coaches that just lost a meaningless bowl game to some “perceived” weaker team. And be thankful YOU weren’t the one that bought bitcoin at $68K. See, feel better now?
Lets keep 2023 positive and in perspective. Learn from the past and prepare for the future.
